The future of the carbon fiber reinforced plastic (CFRP) market looks attractive with opportunities in the aerospace, automotive, pressure vessel, and wind energy industries. The global CFRP market is expected to reach an estimated $31.8 billion by 2024 with a CAGR of 4.3% from 2019 to 2024. The major drivers for this market are growing demand for high performance and lightweight composite materials and increasing performance requirements in the various end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of technologies to reduce the manufacturing cost of carbon fiber as well as part fabrication and reuse of CFRP as recycled carbon fiber reduces cost of product and environmental impact.
A total of 210 figures / charts and 175 tables are provided in this 212 -page report to help in your business decisions. Sample figures with some insights are shown below.
The study includes the CFRP market trends and forecast for the global CFRP through 2024, segmented as follows:
CFRP Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
- Wind Energy
- Sporting Goods
- Pressure Vessel
CFRP Market by Process Type [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
- Prepreg Layup
- Injection Molding
- Compression Molding
- Filament Winding
CFRP Market by Resin Type [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
CFRP Market by Region [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
- North America
- Asia Pacific
- Rest of the World
Some of the major CFRP players in this market are GKN Fokker, Mitsubishi, Voith, Hexcel Corporation, SGL Group, Plasan Carbon Composite, DowAksa and Toray.
Automotive is expected to witness the highest growth over the forecast period due to the increasing demand for high performance lightweight materials.
Within this market, epoxy, phenolic, vinylester, polyester, PEEK, PPS, PEI, and PA are the resin systems used for manufacturing CFRP products. Epoxy based CFRP will remain the largest segment by value and volume.
North America will remain the largest region by value and volume due to the growth in automotive and aerospace industries in the US and government regulations on energy efficient product with less CO2 emission. APAC is expected to witness the highest growth over the forecast period.
Some of the features of “Carbon Fiber Reinforced Plastic (CFRP) Market Report: Trends, Forecast and Competitive Analysis” include:
- Market size estimates: Carbon fiber reinforced plastic (CFRP) market size estimation in terms of value ($M) and volume (M Lbs.) shipment.
- Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by application, and end use industry.
- Segmentation analysis: Carbon fiber reinforced plastic market size by various applications such as end use industry, process type, and resin type in terms of value and volume shipment.
- Regional analysis: Carbon fiber reinforced plastic market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions of carbon fiber reinforced plastic in carbon fiber reinforced plastic market.
- Strategic analysis: This includes M&A, new product development, and competitive landscape in carbon fiber reinforced plastic market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global CFRP market by end use industry (aerospace, automotive, wind energy, marine, sporting goods, construction and pressure vessel), by process type, by resin type and region (North America, Europe, Asia Pacific and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the CFRP market?
Q.5 What are the business risks and threats to the CFRP market?
Q.6 What are emerging trends in this CFRP market and the reasons behind them?
Q.7 What are some changing demands of customers in the CFRP market?
Q.8 What are the new developments in the CFRP market? Which companies are leading these developments?
Q.9 Who are the major players in this CFRP market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this CFRP area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this CFRP market?