Global Carbon Fiber-reinforced Plastics (CFRP) Market By Raw Material (Polyacrylonitrile, Petroleum Pitch, Others), Type (Thermosetting, Thermoplastic), Manufacturing Process (Prepreg Layup, Pultrusion and Winding, Wet Lamination & Infusion, Press and Injection, Others), Application (Aerospace & Defense, Wind Turbines, Automotive, Sports Equipment, Building & Construction, Molding Compounds and Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Carbon Fiber-reinforced Plastics (CFRP) Market
Global carbon fiber-reinforced plastics (CFRP) market is estimated to reach USD 34,196.67 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Rising prevalence for lightweight products in automotive industry is the major factor for the growth of this market.
Market Definition: Global Carbon Fiber-reinforced Plastics (CFRP) Market
Carbon fiber reinforced polymer is a strong and light weight material which has carbon as their primary structural component. Polyacrylonitrile, petroleum pitch, etc. are some of the most common raw material used. Carbon fibers are widely used in industries like aerospace, automotive, sports equipment, construction and building etc. They are usually thermosetting resins like polyester, epoxy and vinyl ester. Increasing demand of carbon fiber reinforced polymer from aerospace industry for the manufacturing of aircraft is fuelling the growth of this market.
- Increasing demand for high-performance material in aerospace industry is driving the market growth
- Rising demand for light weight vehicles among population is another factor driving the market
- High production cost of the CFRP is restraining the market growth
- Availability of substitutes at cheaper cost is another facto restraining the market growth.
Segmentation: Global Carbon Fiber-reinforced Plastics (CFRP) Market
By Raw Material
- Petroleum Pitch
- Coal Tar Pitch
- By Type
- Epoxy resin
- Polyester resin
- Vinyl resin
- Polyether Ether Ketone (PEEK)
- Polyurethane (PU)
- Polyethersulfone (PES)
- Polytherimide (PEI)
By Manufacturing Process
- Prepreg Layup
- Pultrusion and Winding
- Wet Lamination & Infusion
- Press and Injection
- Aerospace & Defense
- Wind Turbines
- Sports Equipment
- Building & Construction
- Molding Compounds
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market
- In August 2018, Teijin Limited announced that they are going to acquire Inapal Plasticos SA so that they can expand their technologies worldwide and strengthen them in the lightweight composite industry. This will also help them to expand themselves in the automotive industry by meeting the need and requirements of their customers
- In December 2017, Hexcel Corporation announced that they are going to acquire Oxford Performance Materials. The main aim of the acquisition is to combine the Hexcel carbon fiber capability with Oxford’s PEKK so that they can provide a range of new technology solutions for their aerospace and defense customers
Global carbon fiber-reinforced plastics (CFRP) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carbon fiber-reinforced plastics (CFRP) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in carbon fiber-reinforced plastics (CFRP) market are TORAY INDUSTRIES, INC., TEIJIN LIMITED, Mitsubishi Chemical Corporation, SGL Carbon, Formosa Plastics Corporation, U.S.A., Hexcel Corporation, Jiangsu Hengshen Company Limited, Zhongfu Shenying Carbon Fiber Co.,Ltd., DowAksa Advanced Composites Holdings BV., Magna International Inc., SGL Carbon, SABIC, Quickstep Technologies, Nippon Graphite Fiber Co., Ltd, Holding company "Composite", Solvay, Applied Sciences, Inc. and others.
Research Methodology: Global Carbon Fiber-reinforced Plastics (CFRP) Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved