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 decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $27 billion by 2025 with a CAGR of 0.5% to 2.5% from 2020 to 2025. 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.
Global CFRP opportunities have evolved through number of stages as presented in figure below:
Evolution of CFRP Opportunities
In this market, aerospace is the largest end use market for CFRP, whereas epoxy is largest in Resin type. Growth in various segments of the CFRP market are given below:
CFRP Market by Segments
The study includes the CFRP market trends and forecast for the global CFRP through 2025, segmented as follows:
CFRP Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
- Wind Energy
- Sporting Goods
- Pressure Vessel
CFRP Market by Process Type [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
- Prepreg Layup
- Injection Molding
- Compression Molding
- Filament Winding
CFRP Market by Resin Type [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
CFRP Market by Region [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
- North America
- Asia Pacific
- Rest of the World
Some of the major CFRP players in this market are GKN Fokker, Mitsubishi, Voith, Hexcel Corporation, SGL Group, Plasan Carbon Composite, DowAksa and Toray.
Automotive is expected to witness the highest growth over the forecast period due to the increasing demand for high performance lightweight materials.
Within this market, epoxy, phenolic, vinylester, polyester, PEEK, PPS, PEI, and PA are the resin systems used for manufacturing CFRP products. Epoxy based CFRP will remain the largest segment by value and volume.
North America will remain the largest region by value and volume due to the growth in automotive and aerospace industries in the US and government regulations on energy efficient product with less CO2 emission. APAC is expected to witness the highest growth over the forecast period.
Some of the features of this report:
- Market size estimates: Carbon fiber reinforced plastic (CFRP) market size estimation in terms of value ($M) and volume (M Lbs.) shipment.
- Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) 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?
Key Features Description
Base Year for Estimation 2019
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Market Representation / Units Revenue in US $ Billion and Volume in M Ibs
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments By end use industry (aerospace, automotive, wind energy, marine, sporting goods, construction and pressure vessel), by process type, by resin type
Regional Scope North America, Europe, Asia Pacific, and RoW
Customization 10% Customization Without any Additional Cost