Table of Content

1    INTRODUCTION    26
1.1    OBJECTIVES OF THE STUDY    26
1.2    MARKET DEFINITION    27
1.3    MARKET SCOPE    28
FIGURE 1    CF & CFRP MARKET SEGMENTATION    28
FIGURE 2    REGIONS COVERED    28
1.3.1    YEARS CONSIDERED FOR THE STUDY    29
1.4    CURRENCY    29
1.5    UNIT CONSIDERED    29
1.6    STAKEHOLDERS    30
1.7    SUMMARY OF CHANGES    30
2    RESEARCH METHODOLOGY    31
2.1    RESEARCH DATA    31
FIGURE 3    CF & CFRP MARKET: RESEARCH DESIGN    31
2.1.1    SECONDARY DATA    32
2.1.1.1    Key data from secondary sources    32
2.1.2    PRIMARY DATA    33
2.1.2.1    Key data from primary sources    33
2.1.2.2    Key industry insights    34
2.1.2.3    Breakdown of primary interviews    34
2.2    MARKET SIZE ESTIMATION    35
2.2.1    SUPPLY-SIDE ANALYSIS    35
FIGURE 4    MARKET NUMBER ESTIMATION    35
FIGURE 5    CARBON FIBER PRODUCTION CAPACITY    36
2.2.2    DEMAND-SIDE ANALYSIS    37
FIGURE 6    AEROSPACE & DEFENSE CFRP MARKET ESTIMATION    37
2.2.3    SEGMENT ANALYSIS    37
2.2.4    FORECAST    38
2.3    DATA TRIANGULATION    39
FIGURE 7    CF & CFRP MARKET: DATA TRIANGULATION    39
2.4    ASSUMPTIONS    40
2.5    LIMITATIONS    40
3    EXECUTIVE SUMMARY    41
FIGURE 8    PITCH PRECURSOR ACCOUNTED FOR LARGEST SHARE    42
FIGURE 9    VIRGIN CARBON FIBER ACCOUNTED FOR LARGER SHARE    42
FIGURE 10    THERMOSETTING RESIN ACCOUNTED FOR LARGER SHARE    43
FIGURE 11    LAY-UP MANUFACTURING PROCESS IS MOST DOMINANT SEGMENT IN OVERALL MARKET    43
FIGURE 12    AEROSPACE & DEFENSE EXPECTED TO DOMINATE CFRP MARKET DURING THE FORECAST PERIOD    44
FIGURE 13    APAC TO BE FASTEST-GROWING CFRP MARKET BETWEEN 2020 AND 2025    44
4    PREMIUM INSIGHTS    46
4.1    ATTRACTIVE OPPORTUNITIES IN THE CF & CFRP MARKET    46
FIGURE 14    HIGH DEMAND FROM AEROSPACE & DEFENCE AND WIND ENERGY TO DRIVE THE MARKET    46
4.2    CFRP MARKET, BY END-USE INDUSTRY AND REGION, 2019    46
FIGURE 15    APAC ACCOUNTED FOR THE LARGEST SHARE OF THE GLOBAL MARKET    46
4.3    CARBON FIBER MARKET, BY SOURCE    47
FIGURE 16    RECYCLED CARBON FIBER LEADS THE DEMAND    47
4.4    CARBON FIBER MARKET, BY PRECURSOR TYPE    47
FIGURE 17    PAN PRECURSOR DOMINATES THE OVERALL MARKET    47
4.5    CFRP MARKET, BY RESIN TYPE    48
FIGURE 18    THERMOSETTING RESIN ACCOUNT FOR LARGER SHARE OF THE MARKET    48
4.6    CFRP MARKET, BY MANUFACTURING PROCESS    48
FIGURE 19    PULTRUSIONS PROCESS ACCOUNTED FOR THE LARGEST SHARE    48
4.7    CFRP MARKET, BY END-USE INDUSTRY    49
FIGURE 20    WIND ENERGY ACCOUNTED FOR LARGEST CONSUMPTION OF CFRP    49
4.8    CFRP MARKET, BY KEY COUNTRIES    49
FIGURE 21    CHINA TO REGISTER THE HIGHEST CAGR    49
5    MARKET OVERVIEW    50
5.1    INTRODUCTION    50
5.2    MARKET DYNAMICS    50
FIGURE 22    DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN CF & CFRP MARKET    50
5.2.1    DRIVERS    51
5.2.1.1    Government stimulus packages for aerospace and other industries for COVID-19 crisis    51
5.2.1.2    Increase in demand for fuel-efficient vehicles    51
5.2.1.3    Increasing demand from wind energy industry    52
5.2.2    RESTRAINTS    52
5.2.2.1    Decrease in number of commercial aircraft deliveries    52
5.2.2.2    Disruption in supply chain and lower production capacity utilization due to COVID-19 pandemic    52
5.2.2.3    High cost of carbon fiber    53
TABLE 1    COST STRUCTURE WITH CURRENT TECHNOLOGY    53
5.2.3    OPPORTUNITIES    53
5.2.3.1    Reduction in the cost of carbon fiber    53
5.2.3.2    Potential opportunities in new applications    53
5.2.3.3    Growing demand from emerging markets    54
5.2.4    CHALLENGES    54
5.2.4.1    Maintaining uninterrupted supply chain and operating at full capacity    54
5.2.4.2    Liquidity crunch    54
5.2.4.3    Development of technology to reduce cycle time    55
5.3    PORTER’S FIVE FORCES ANALYSIS    55
FIGURE 23    CF & CFRP COMPOSITES MARKET: PORTER’S FIVE FORCES ANALYSIS    55
5.3.1    THREAT OF NEW ENTRANTS    56
5.3.2    THREAT OF SUBSTITUTES    56
5.3.3    BARGAINING POWER OF SUPPLIERS    56
5.3.4    BARGAINING POWER OF BUYERS    56
5.3.5    INTENSITY OF COMPETITIVE RIVALRY    57
5.4    VALUE CHAIN ANALYSIS    57
FIGURE 24    VALUE CHAIN ANALYSIS: MAXIMUM VALUE IS ADDED DURING CFRP COMPOSITES DESIGN & PROCESSING PHASE    57
5.5    VALUE CHAIN ANALYSIS AND IMPACT OF COVID-19    58
5.5.1    RAW MATERIALS    58
5.5.2    INTERMEDIATES    58
5.5.3    MOLDER    58
5.5.4    OEM/ASSEMBLY    58
5.6    PRICING ANALYSIS    58
5.7    MANUAFTURING PROCESS ANALYSIS    59
5.8    PATENT ANALYSIS    59
5.8.1    METHODOLOGY    59
5.8.2    DOCUMENT TYPE    59
FIGURE 25    PUBLICATION TRENDS – FROM 2011 TO 2019    59
5.8.3    INSIGHT    60
FIGURE 26    JURISDICTION ANALYSIS    60
5.8.4    TOP APPLICANTS OF CFRP    61
FIGURE 27    TOP APPLICANTS OF CFRP    61
5.9    PESTEL ANALYSIS    61
5.9.1    POLITICAL    61
5.9.2    ECONOMICAL    62
5.9.3    SOCIAL    63
5.9.4    TECHNOLOGICAL    65
5.9.5    ENVIRONMENTAL    66
5.9.6    LEGAL    66
5.10    CASE STUDY    67
6    MACROECONOMIC OVERVIEW AND KEY TRENDS    68
6.1    INTRODUCTION    68
6.2    TRENDS AND FORECAST OF GDP    68
TABLE 2    ANNUAL PERCENTAGE CHANGE OF GDP, BY REGION, APRIL 2020    68
6.3    IMPACT OF COVID-19 ON AEROSPACE INDUSTRY    69
TABLE 3    NUMBER OF AIRPLANE DELIVERIES, BY MANUFACTURERS, 2019    69
6.3.1    SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS    70
6.3.2    NEW OPPORTUNITIES    70
6.4    IMPACT OF COVID-19 ON AUTOMOTIVE INDUSTRY    70
6.4.1    SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS    71
6.4.2    IMPACT ON ELECTRIC VEHICLE (EV) DEMAND DUE TO LOWER OIL PRICES    71
6.4.3    NEW OPPORTUNITIES    71
6.5    IMPACT OF COVID-19 ON WIND ENERGY INDUSTRY    72
6.5.1    SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS    72
6.5.2    NEW OPPORTUNITIES    72
7    CARBON FIBER MARKET, BY SOURCE    73
7.1    INTRODUCTION    74
FIGURE 28    VIRGIN CARBON FIBER SEGMENT DOMINATES OVERALL CARBON FIBER MARKET    74
TABLE 4    CARBON FIBER MARKET SIZE, BY SOURCE, 2018–2025 (USD MILLION)    74
TABLE 5    CARBON FIBER MARKET SIZE, BY SOURCE, 2018–2025 (KILOTON)    74
7.2    VIRGIN CARBON FIBER    75
7.2.1    VIRGIN CARBON OFFERS BETTER THERMAL AND MECHANICAL PROPERTIES THAN RECYCLED CARBON FIBER    75
TABLE 6    VIRGIN CARBON FIBER MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    75
TABLE 7    VIRGIN CARBON FIBER MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    75
7.3    RECYCLED CARBON FIBER    76
7.3.1    EUROPE LEADS THE DEMAND FOR RECYCLED CARBON FIBER    76
TABLE 8    RECYCLED CARBON FIBER MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    76
TABLE 9    RECYCLED CARBON FIBER MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    76
8    CARBON FIBER MARKET, BY PRECURSOR TYPE    77
8.1    INTRODUCTION    78
FIGURE 29    PAN PRECURSOR SEGMENT DOMINATES THE CF & CFRP MARKET    78
TABLE 10    CF MARKET SIZE, BY PRECURSOR TYPE, 2018–2025 (USD MILLION)    78
TABLE 11    CF MARKET SIZE, BY PRECURSOR TYPE, 2018–2025 (KILOTON)    78
8.2    POLYACRYLONITRILE (PAN-BASED) CARBON FIBERS    79
8.2.1    PAN-BASED CARBON FIBER, BY TOW SIZE    79
8.2.1.1    Small-tow (<24K)    79
8.2.1.1.1    Small-tow carbon fiber finds major applications in aerospace industry    79
8.2.1.2    Large-tow (>24K)    79
8.2.1.2.1    Wind energy is major application of large-tow carbon fiber    79
TABLE 12    PAN-BASED CF MARKET SIZE, BY TOW SIZE, 2018-2025 (USD MILLION)    79
TABLE 13    PAN-BASED CF MARKET SIZE, BY TOW SIZE, 2018-2025 (KILOTON)    80
8.3    PITCH-BASED CARBON FIBER    80
TABLE 14    PITCH-BASED CF MARKET SIZE, BY TOW SIZE, 2018-2025 (USD MILLION)    80
TABLE 15    PITCH-BASED CF MARKET SIZE, BY TOW SIZE, 2018-2025 (KILOTON)    80
8.4    RAYON-BASED CARBON FIBER    81
9    CFRP MARKET, BY RESIN TYPE    82
9.1    INTRODUCTION    83
FIGURE 30    THERMOSETTING CFRP EXPECTED TO DOMINATE CFRP MARKET, 2018- 2025    83
TABLE 16    CFRP MARKET SIZE, BY RESIN TYPE, 2018–2025 (USD MILLION)    83
TABLE 17    CFRP MARKET SIZE, BY RESIN TYPE, 2018–2025 (KILOTON)    83
9.2    IMPACT OF COVID-19 ON RESIN TYPE    84
9.3    THERMOSETTING CFRP    84
TABLE 18    THERMOSETTING CFRP MARKET SIZE, BY RESIN TYPE,
2018–2025 (USD MILLION)    84
TABLE 19    THERMOSETTING CFRP MARKET SIZE, BY RESIN TYPE,
2018–2025 (KILOTON)    84
9.3.1    EPOXY    85
9.3.1.1    Epoxy resin is preferred in high-end applications    85
9.3.2    VINYL ESTER    85
9.3.2.1    Vinyl ester resin fin applications in transportation, marine, and pipe & tank industries    85
9.3.3    POLYESTER    85
9.3.3.1    Polyester is cost-competitive resin    85
9.3.4    OTHERS    86
FIGURE 31    EUROPE EXPECTED TO DOMINATE THERMOSETTING CFRP MARKET, 2018–2025    86
TABLE 20    THERMOSETTING CFRP MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    86
TABLE 21    THERMOSETTING CFRP MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    86
9.4    THERMOPLASTIC CFRP    87
TABLE 22    THERMOPLASTIC CFRP MARKET SIZE, BY RESIN TYPE, 2018–2025 (USD MILLION)    87
TABLE 23    THERMOPLASTIC CFRP MARKET SIZE, BY RESIN TYPE, 2018–2025 (KILOTON)    87
9.4.1    POLYETHERETHEREKETON (PEEK)    88
9.4.1.1    PEEK finds extensive use in aerospace & defense applications    88
9.4.2    POLYAMIDE (PA)    88
9.4.2.1    Resistance to wear, heat, and chemicals supporting growth of polyamide segment    88
9.4.3    POLYPROPYLENE (PP)    88
9.4.3.1    Polypropylene-based thermoplastic composites have huge demand in automotive applications    88
9.4.4    OTHERS    88
TABLE 24    THERMOPLASTIC CFRP MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    89
TABLE 25    THERMOPLASTIC CFRP MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    89
10    CFRP MARKET, BY MANUFACTURING PROCESS    90
10.1    INTRODUCTION    91
FIGURE 32    LAY-UP MANUFACTURING PROCESS EXPECTED TO DOMINATE OVERALL CFRP MARKET, 2020–2025    91
TABLE 26    CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (USD MILLION)    91
TABLE 27    CFRP MARKET SIZE, BY MANUFACTURING PROCESS, 2018–2025 (KILOTON)    92
10.2    COVID-19 IMPACT ON MANUFACTURING PROCESSES    92
10.3    LAY-UP PROCESS    92
10.3.1    AEROSPACE & DEFENSE END-USE INDUSTRY DRIVES THE CFRP MARKET IN LAY-UP PROCESS    92
FIGURE 33    NORTH AMERICA EXPECTED TO DOMINATE MARKET FOR LAY-UP PROCESS SEGMENT, 2018–2025    93
TABLE 28    LAY-UP PROCESS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)    93
TABLE 29    LAY-UP PROCESS MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    93
10.4    COMPRESSION MOLDING PROCESS    94
10.4.1    COMPRESSION MOLDING PROCESS ENABLES SHORT CYCLE TIME AND A HIGH PRODUCTION RATE    94
TABLE 30    COMPRESSION MOLDING PROCESS MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    94
TABLE 31    COMPRESSION MOLDING PROCESS MARKET SIZE, BY REGION,
2018–2025 (KILOTON)    94
10.5    RESIN TRANSFER MOLDING (RTM) PROCESS    95
10.5.1    RTM PROCESS USED FOR COMPLEX AND THREE DIMENSIONAL COMPONENTS    95
TABLE 32    RTM PROCESS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)    95
TABLE 33    RTM PROCESS MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    95
10.6    FILAMENT WINDING PROCESS    96
10.6.1    PIPE & TANK END-USE INDUSTRY DRIVES THE CFRP MARKET IN FILAMENT WINDING PROCESS    96
TABLE 34    FILAMENT WINDING PROCESS MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    96
TABLE 35    FILAMENT WINDING PROCESS MARKET SIZE, BY REGION,
2018–2025 (KILOTON)    96
10.7    INJECTION MOLDING PROCESS    97
10.7.1    AUTOMOTIVE AND ELECTRICAL & ELECTRONICS END-USE INDUSTRIES DRIVES THE CFRP MARKET IN INJECTION MOLDING PROCESS    97
TABLE 36    INJECTION MOLDING PROCESS MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    97
TABLE 37    INJECTION MOLDING PROCESS MARKET SIZE, BY REGION,
2018–2025 (KILOTON)    97
10.8    PULTRUSION PROCESS    98
10.8.1    WIND ENERGY END-USE INDUSTRY IS LARGEST CONSUMER OF CFRP PULTRUDED COMPONENTS    98
TABLE 38    PULTRUSION PROCESS MARKET SIZE, BY REGION,
2018–2025 (USD MILLION)    98
TABLE 39    PULTRUSION PROCESS MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    98
10.9    OTHER PROCESSES    99
TABLE 40    OTHER PROCESSES MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)    99
TABLE 41    OTHER PROCESSES MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    99
11    CFRP MARKET, BY END-USE INDUSTRY    100
11.1    INTRODUCTION    101
FIGURE 34    AEROSPACE & DEFENSE INDUSTRY TO LEAD CONSUMPTION OF CFRP IN 2019    101
TABLE 42    CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)    102
TABLE 43    CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    102
11.2    AEROSPACE & DEFENSE    103
11.2.1    INTERIOR PARTS    103
11.2.1.1    Phenolic and thermoplastic composites mainly used in aircraft interior structures    103
11.2.2    EXTERIOR PARTS    103
11.2.2.1    Fuselage, wings, rotor blades, tail boom, and radomes are major exterior parts    103
FIGURE 35    NORTH AMERICA EXPECTED TO DOMINATE CFRP MARKET IN AEROSPACE & DEFENSE, 2020 VS. 2025    104
TABLE 44    DEMAND FOR AIRPLANES, BY REGION, 2019–2038    104
TABLE 45    CFRP MARKET SIZE IN AEROSPACE & DEFENSE, BY REGION,
2018–2025 (USD MILLION)    104
TABLE 46    CFRP MARKET SIZE IN AEROSPACE & DEFENSE, BY REGION,
2018–2025 (KILOTON)    105
TABLE 47    CFRP USED IN MAJOR AIRCRAFT, BY VOLUME, 1981–2019    105
11.3    WIND ENERGY    106
11.3.1    WIND BLADES    106
11.3.1.1    Carbon fiber widely used for making spar caps    106
TABLE 48    CFRP MARKET SIZE IN WIND ENERGY, BY REGION,
2018–2025 (USD MILLION)    106
TABLE 49    CFRP MARKET SIZE IN WIND ENERGY, BY REGION, 2018–2025 (KILOTON)    106
TABLE 50    WIND ENERGY INSTALLATIONS, 2019    107
11.4    AUTOMOTIVE    107
11.4.1    INTERIOR PARTS    107
11.4.1.1    Seat backs, headliners, package trays, and dashboards are major automotive interior parts    107
11.4.2    EXTERIOR PARTS    108
11.4.2.1    Exterior parts are major applications in automotive industry    108
TABLE 51    CFRP MARKET SIZE IN AUTOMOTIVE, BY REGION, 2018–2025 (USD MILLION)    108
TABLE 52    CFRP MARKET SIZE IN AUTOMOTIVE, BY REGION, 2018–2025 (KILOTON)    108
11.5    SPORTING GOODS    109
11.5.1    APAC LEADS THE DEMAND IN SPORTING GOODS INDUSTRY    109
TABLE 53    CFRP MARKET SIZE IN SPORTING GOODS, BY REGION,
2020–2025 (USD MILLION)    109
TABLE 54    CFRP MARKET SIZE IN SPORTING GOODS, BY REGION,
2018–2025 (KILOTON)    109
11.6    CIVIL ENGINEERING    110
11.6.1    RESTORATIONS OF OLD STRUCTURES DRIVING THE USE OF CARBON FIBER    110
TABLE 55    CFRP MARKET SIZE IN CIVIL ENGINEERING, BY REGION,
2018–2025 (USD MILLION)    110
TABLE 56    CFRP MARKET SIZE IN CIVIL ENGINEERING, BY REGION,
2018–2025 (KILOTON)    110
11.7    PIPE & TANK    111
11.7.1    INCREASE IN DEMAND FOR TYPE IV CYLINDERS DRIVING THE CFRP MARKET    111
TABLE 57    CFRP MARKET SIZE IN PIPES & TANKS, BY REGION, 2018–2025 (USD MILLION)    111
TABLE 58    CFRP MARKET SIZE IN PIPES & TANKS, BY REGION, 2018–2025 (KILOTON)    112
TABLE 59    CNG, RNG, HYDROGEN TANK PRODUCED IN 2019    112
11.8    MARINE    113
TABLE 60    CFRP MARKET SIZE IN MARINE, BY REGION, 2015–2022 (USD MILLION)    113
TABLE 61    CFRP MARKET SIZE IN MARINE, BY REGION, 2018–2025 (KILOTON)    113
11.9    ELECTRICAL & ELECTRONICS    114
11.9.1    APAC LEADS DEMAND IN ELECTRICAL & ELECTRONICS SEGMENT    114
TABLE 62    CFRP MARKET SIZE IN ELECTRICAL & ELECTRONICS, BY REGION,
2018–2025 (USD MILLION)    114
TABLE 63    CFRP MARKET SIZE IN ELECTRICAL & ELECTRONICS, BY REGION,
2018-2025 (KILOTON)    114
11.10    MEDICAL    115
11.10.1    COVID-19 PANDEMIC HAS INCREASED DEMAND FOR CFRP MATERIALS IN MEDICAL INDUSTRY    115
TABLE 64    CFRP MARKET SIZE IN MEDICAL, BY REGION, 2018–2025 (USD MILLION)    115
TABLE 65    CFRP MARKET SIZE IN MEDICAL, BY REGION, 2018–2025 (KILOTON)    115
11.11    OTHER END-USE INDUSTRIES    116
TABLE 66    CFRP MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION,
2018–2025 (USD MILLION)    116
TABLE 67    CFRP MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION,
2018–2025 (KILOTON)    117
12    CFRP MARKET, BY REGION    118
12.1    INTRODUCTION    119
FIGURE 36    TAIWAN PROJECTED TO REGISTER HIGHEST GROWTH IN CFRP MARKET, 2020–2025, IN TERMS OF VALUE    119
TABLE 68    CFRP MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)    120
TABLE 69    CFRP MARKET SIZE, BY REGION, 2018–2025 (KILOTON)    120
12.2    NORTH AMERICA    120
FIGURE 37    NORTH AMERICA CFRP MARKET SNAPSHOT: US IS FASTEST-GROWING MARKET    121
TABLE 70    NORTH AMERICA: CFRP MARKET SIZE, BY RESIN, 2018–2025 (USD MILLION)    121
TABLE 71    NORTH AMERICA: CFRP MARKET SIZE, BY RESIN, 2018–2025 (KILOTON)    122
TABLE 72    NORTH AMERICA: CFRP MARKET SIZE, BY MANUFACTURING PROCESS, 2018–2025 (USD MILLION)    122
TABLE 73    NORTH AMERICA: CFRP MARKET SIZE, BY MANUFACTURING PROCESS, 2018–2025 (KILOTON)    122
TABLE 74    NORTH AMERICA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    123
TABLE 75    NORTH AMERICA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    123
TABLE 76    NORTH AMERICA: CFRP MARKET SIZE, BY COUNTRY,
2018–2025 (USD MILLION)    124
TABLE 77    NORTH AMERICA: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (KILOTON)    124
12.2.1    CANADA    124
12.2.1.1    Canada has fifth-largest aerospace industry    124
TABLE 78    CANADA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    125
TABLE 79    CANADA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    125
12.2.2    US    126
12.2.2.1    US is largest consumer of CFRP materials in North America    126
TABLE 80    US: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)    126
TABLE 81    US: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    127
12.3    EUROPE    127
FIGURE 38    EUROPE CFRP MARKET SNAPSHOT: GERMANY IS FASTEST-GROWING MARKET    128
TABLE 82    EUROPE: CFRP MARKET SIZE, BY RESIN, 2018–2025 (USD MILLION)    128
TABLE 83    EUROPE: CFRP MARKET SIZE, BY RESIN, 2018–2025 (KILOTON)    129
TABLE 84    EUROPE: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (USD MILLION)    129
TABLE 85    EUROPE: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (KILOTON)    129
TABLE 86    EUROPE: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    130
TABLE 87    EUROPE: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    130
TABLE 88    EUROPE: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)    131
TABLE 89    EUROPE: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (KILOTON)    131
12.3.1    GERMANY    132
12.3.1.1    Germany leads the CFRP demand in Europe    132
TABLE 90    GERMANY: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    132
TABLE 91    GERMANY: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    132
12.3.2    FRANCE    133
12.3.2.1    France has largest aerospace & defense industry in Europe    133
TABLE 92    FRANCE: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    133
TABLE 93    FRANCE: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    134
12.3.3    UK    134
12.3.3.1    Automotive & wind energy drives the CFRP market    134
TABLE 94    UK: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)    135
TABLE 95    UK: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    135
12.3.4    SPAIN    136
12.3.4.1    Aerospace & defense industry holds largest share of CFRP market in Spain    136
TABLE 96    SPAIN: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    136
TABLE 97    SPAIN: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    136
12.3.5    ITALY    137
12.3.5.1    Pipe & tank segment is fastest-growing consumer of CFRP in Italy    137
TABLE 98    ITALY: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    137
TABLE 99    ITALY: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    138
12.3.6    RUSSIA    138
12.3.6.1    Defense sector drives CFRP market in Russia    138
TABLE 100    RUSSIA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    139
TABLE 101    RUSSIA: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    139
12.4    APAC    140
FIGURE 39    CHINA IS LARGEST MARKET OF CFRP IN APAC, 2020–2025    140
TABLE 102    APAC: CFRP MARKET SIZE, BY RESIN, 2018–2025 (USD MILLION)    141
TABLE 103    APAC: CFRP MARKET SIZE, BY RESIN, 2018–2025 (KILOTON)    141
TABLE 104    APAC: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (USD MILLION)    141
TABLE 105    APAC: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (KILOTON)    142
TABLE 106    APAC: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    142
TABLE 107    APAC: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    143
TABLE 108    APAC: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)    143
TABLE 109    APAC: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (KILOTON)    143
12.4.1    CHINA    144
12.4.1.1    China is the largest CFRP market in APAC    144
TABLE 110    CHINA: NEW WIND ENERGY INSTALLATIONS, 2010–2019 (MW)    144
TABLE 111    CHINA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    145
TABLE 112    CHINA: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    145
12.4.2    JAPAN    146
12.4.2.1    Japan is largest exporter of carbon fiber    146
TABLE 113    JAPAN: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    146
TABLE 114    JAPAN: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    147
12.4.3    SOUTH KOREA    147
12.4.3.1    Hyosung is major carbon fiber manufacturers in South Korea    147
TABLE 115    SOUTH KOREA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    148
TABLE 116    SOUTH KOREA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    148
12.4.4    TAIWAN    148
12.4.4.1    Taiwan is largest CFRP bicycle manufacturer    148
TABLE 117    TAIWAN: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)    149
TABLE 118    TAIWAN: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    149
12.5    LATIN AMERICA    150
TABLE 119    LATIN AMERICA: CFRP MARKET SIZE, BY RESIN, 2018–2025 (USD MILLION)    150
TABLE 120    LATIN AMERICA: CFRP MARKET SIZE, BY RESIN, 2018–2025 (KILOTON)    150
TABLE 121    LATIN AMERICA: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (USD MILLION)    150
TABLE 122    LATIN AMERICA: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (KILOTON)    151
TABLE 123    LATIN AMERICA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    151
TABLE 124    LATIN AMERICA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    152
TABLE 125    LATIN AMERICA: CFRP MARKET SIZE, BY COUNTRY,
2018–2025 (USD MILLION)    152
TABLE 126    LATIN AMERICA: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (KILOTON)    152
12.5.1    BRAZIL    153
12.5.1.1    Growing aerospace industry fueling CFRP market    153
TABLE 127    BRAZIL: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    153
TABLE 128    BRAZIL: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    154
12.5.2    MEXICO    154
12.5.2.1    Automotive and wind energy are prominent consumers of CFRP in Mexico    154
TABLE 129    MEXICO: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    155
TABLE 130    MEXICO: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    155
12.6    MEA (MIDDLE EAST & AFRICA)    156
TABLE 131    MEA: CFRP MARKET SIZE, BY RESIN, 2018–2025 (USD MILLION)    156
TABLE 132    MEA: CFRP MARKET SIZE, BY RESIN, 2018–2025 (KILOTON)    156
TABLE 133    MEA: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (USD MILLION)    157
TABLE 134    MEA: CFRP MARKET SIZE, BY MANUFACTURING PROCESS,
2018–2025 (KILOTON)    157
TABLE 135    MEA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    158
TABLE 136    MEA: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    158
TABLE 137    MEA: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)    159
TABLE 138    MEA: CFRP MARKET SIZE, BY COUNTRY, 2018–2025 (KILOTON)    159
12.6.1    UAE    159
12.6.1.1    Automotive and aerospace & defense industries lead the demand for CFRP    159
TABLE 139    UAE: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    160
TABLE 140    UAE: CFRP MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (KILOTON)    160
12.6.2    SAUDI ARABIA    161
12.6.2.1    Pipe & tank is promising end user for CFRP materials    161
TABLE 141    SAUDI ARABIA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    161
TABLE 142    SAUDI ARABIA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    161
12.6.3    SOUTH AFRICA    162
12.6.3.1    South Africa is the largest market for CFRP in Africa    162
TABLE 143    SOUTH AFRICA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (USD MILLION)    162
TABLE 144    SOUTH AFRICA: CFRP MARKET SIZE, BY END-USE INDUSTRY,
2018–2025 (KILOTON)    162
13    COMPETITIVE LANDSCAPE    164
13.1    INTRODUCTION    164
FIGURE 40    EXPANSION AND ACQUISITION ARE KEY GROWTH STRATEGIES ADOPTED BETWEEN 2016 AND 2020    165
13.2    MARKET SHARE ANALYSIS    166
FIGURE 41    TORAY INDUSTRIES LEAD THE CFRP MARKET IN 2019    166
13.3    MARKET EVALUATION FRAMEWORK    166
13.3.1    EXPANSION    167
TABLE 145    EXPANSION, 2016-2020    167
13.3.2    AGREEMENT    170
TABLE 146    AGREEMENT, 2016-2020    170
13.3.3    ACQUISITION    172
TABLE 147    ACQUISITION, 2016-2020    172
13.3.4    PRODUCT LAUNCH/TECHNOLOGY LAUNCH    173
TABLE 148    PRODUCT LAUNCH/TECHNOLOGY LAUNCH, 2016-2020    173
13.3.5    PARTNERSHIP    174
TABLE 149    PARTNERSHIP, 2016-2020    174
13.3.6    JOINT VENTURE    175
TABLE 150    JOINT VENTURE, 2016-2020    175
13.3.7    COLLABORATION    176
TABLE 151    COLLABORATION, 2016-2020    176
13.4    REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2019    176
TABLE 152    REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2019    176
13.5    COMPANY EVALUATION MATRIX    177
13.5.1    STAR    177
13.5.2    PERVASIVE    177
13.5.3    PARTICIPANT    177
13.5.4    EMERGING LEADERS    177
FIGURE 42    CF & CFRP MARKET: COMPETITIVE LEADERSHIP MAPPING    178
13.6    STRENGTH OF PRODUCT PORTFOLIO    179
FIGURE 43    PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN CF & CFRP MARKET    179
13.7    BUSINESS STRATEGY EXCELLENCE    180
FIGURE 44    BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN CF & CFRP MARKET    180
14    COMPANY PROFILES    181
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
14.1    TORAY INDUSTRIES INC.    181
FIGURE 45    TORAY INDUSTRIES, INC.: COMPANY SNAPSHOT    181
FIGURE 46    TORAY INDUSTRIES, INC.: SWOT ANALYSIS    184
14.2    TEIJIN LIMITED    186
FIGURE 47    TEIJIN LIMITED: COMPANY SNAPSHOT    186
FIGURE 48    TEIJIN LIMITED: SWOT ANALYSIS    189
14.3    MITSUBISHI CHEMICAL HOLDINGS CORPORATION    191
FIGURE 49    MITSUBISHI CHEMICALS HOLDINGS CORPORATION: COMPANY SNAPSHOT    191
FIGURE 50    MITSUBISHI CHEMICAL HOLDING CORPORATION: SWOT ANALYSIS    193
14.4    HEXCEL CORPORATION    195
FIGURE 51    HEXCEL CORPORATION: COMPANY SNAPSHOT    195
FIGURE 52    HEXCEL CORPORATION: SWOT ANALYSIS    197
14.5    SOLVAY GROUP    199
FIGURE 53    SOLVAY GROUP: COMPANY SNAPSHOT    199
FIGURE 54    SOLVAY: SWOT ANALYSIS    200
14.6    SGL GROUP    202
FIGURE 55    SGL GROUP: COMPANY SNAPSHOT    202
14.7    FORMOSA PLASTICS CORPORATION    205
14.8    HYOSUNG    207
FIGURE 56    HYOSUNG: COMPANY SNAPSHOT    207
14.9    ZHONGFU SHENYING CARBON FIBER CO., LTD.    209
14.10    KUREHA CORPORATION    210
FIGURE 57    KUREHA CORPORATION: COMPANY SNAPSHOT    210
14.11    DOWAKSA    213
14.12    TAEKWANG INDUSTRIAL CO. LTD.    215
14.13    JIANGSU HENGSHEN CO., LTD.    216
14.14    ELG CARBON FIBRE LTD.    218
14.15    NIPPON GRAPHITE FIBER CORPORATION    221
FIGURE 58    NIPPON GRAPHITE FIBER CORPORATION: COMPANY SNAPSHOT    221
14.16    PLASAN CARBON COMPOSITES    223
14.17    KEMROCK INDUSTRIES AND EXPORTS LTD.    223
14.18    HINDOOSTAN COMPOSITE SOLUTIONS    223
14.19    CROSBY COMPOSITES    223
14.20    SIGMATEX LIMITED    223
14.21    ZHONGAO CARBON    224
14.22    AERON COMPOSITE PVT. LTD.    224
14.23    WEIHAI TUOZHAN FIBERS CO. LTD.    224
14.24    CFK VALLEY STADE RECYCLING GMBH & CO. KG    224
14.25    ALABUGA FIBER, LLC    224
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
15    APPENDIX    225
15.1    DISCUSSION GUIDE    225
15.2    KNOWLEDGE STORE   228
15.3    AVAILABLE CUSTOMIZATIONS    230
15.4    RELATED REPORTS    230
15.5    AUTHOR DETAILS    231