The global Carbon Fiber market was valued at USD 3,340.5 Million in 2019 and is projected to reach USD 6,935.9 Million by 2027, expanding at a CAGR of 9.6% during the forecast period. The global Carbon Fiber Reinforced Plastic Market is projected to reach 43,955.8 Million with 11.6% CAGR from 18,248.0 Million revenue in 2019. Carbon fiber (CF) is a polymer that consists of a long chain of carbon atoms bonded together. These fibers are very strong, extremely stiff, and light in weight.
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Market Dynamics
Market drivers
Superior mechanical and physical properties of CF materials such as lightweight, high tensile strength, and impact resistance make these materials ideal for making vehicles fuel-efficient and reliable. This, in turn, is increasing the demand for CF materials in various industries such as aerospace & defense, automotive, sports, and wind turbines.
Market Restraints
CFRP product manufacturing requires a long production cycle; therefore, fewer number of goods are produced in a particular period of time, thus restricting the use of CFRP products in applications where higher number of products are required in a short time period. The high cost of manufacturing composite materials is likely to hinder the growth of the market.
Regional Outlook
On the basis of regions, the global carbon fiber and carbon fiber reinforced plastics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is a promising region for the market. Growing research and development activities in the aerospace and defense sector in the US, is expected to boost the demand for CF and CFRP during the forecast period.
Competitive Landscape
- Key players in the market include TEIJIN LIMITED, Formosa Plastics Corporation, Hexcel Corporation, TORAY INDUSTRIES, INC., and others. They considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the carbon fiber & carbon fiber reinforced plastic extraction is added in the company’s capacity.
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According to the new market research report by IndustryARC titled “Carbon Fiber Reinforced Plastic Market: By Type (Thermoplastic, Thermosetting); By Applications (Automobile, Aviation,Defense, Marine, Others) – With Forecast 2018-2023”, the market is driven by the growing utilization of applications such as automobiles and wind energy.
Asia Pacific dominates the Carbon Fiber Reinforced Plastic Market during forecast period:Asia Pacific is expected to dominate the Carbon Fiber Reinforced Plastic Market with increasing adoption of CFRP in the automotive and aerospace industries due to its declining prices.
This region accounts for a larger share of global wind energy production and has seen a rise in the wind energy capacity of installations.
The materials used in military composites include Kevlar, fiberglass and carbon fiber.
U.S. DOD aims to replace UH-60 Black Hawk with Bell Helicopter’s V-280 which incorporates carbon fibers in its wings, fuselage and tail.
Toray produces synthetic fibers such as nylon, polyester, and acrylic.
Carbon Fiber Reinforced Plastic market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Carbon Fiber Reinforced Plastic market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2015-2026.Segment by Type, the Carbon Fiber Reinforced Plastic market is segmented into:ThermosettingThermoplasticDownload FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/60370/global-china-carbon-fiber-reinforced-plastic-2026-535Segment by Application, the Carbon Fiber Reinforced Plastic market is segmented into:Aerospace And DefenseWind EnergyAutomobileManufactureMarineOthersRegional and Country-level Analysis:The Carbon Fiber Reinforced Plastic market is analysed and market size information is provided by regions (countries).The key regions covered in the Carbon Fiber Reinforced Plastic market report are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It also covers key regions (countries), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.Competitive Landscape and Carbon Fiber Reinforced Plastic Market Share Analysis:Carbon Fiber Reinforced Plastic market competitive landscape provides details and data information by players.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020.
