The Carbon Fibre Reinforced Plastic Composites Market Will Reach $29.08 Bn in 2016

Thursday 16 June 2016, Amsterdam

A new report, now available on ASDReports, concludes that the world market for Carbon Fibre Reinforced Plastic (CFRP) Composites Market will reach $29.08 billion in 2016. This analysis and others appear in the Carbon Fibre Reinforced Plastic (CFRP) Composites Market Forecast 2016-2026 published by the key player.

The applications for carbon fibre reinforced composites has increased significantly in recent years and is expected to grow at a more rapid pace during the coming decade.
The CFRP composites market has been dominated by North America, accounting for over a third of the global market. However, we expect the European and Asian regions to expand more rapidly, where growth rates perform above the global trend. Moreover, we predict strong growth of CFRP consumption in automotive, energy and aerospace applications as a result of the higher demand for fuel efficient vehicles and aircraft. The amount of electric and hybrid vehicles manufactured has also increased considerably in recent years and this has led to higher usage of CFRP composites in the automotive and fuel cells sectors. Furthermore, the development of the wind power market, offshore drilling and deeper oil & gas exploration have contributed to the growth of the CFRP market in the energy sector.

For 2016, The key player assesses the global CFRP composites market to be worth $29.08bn. The key player also determined the global consumption of CFRP to reach 86.69 million tonnes this year. The main growth restrainers are high prices of raw materials and lack of manufacturing knowledge as there are a number of manufacturers that still do not trust this material. In the long-term we anticipate the costs of carbon fibre materials and production to fall, which will allow increases in the number of new applications and production volume that will help drive the market through to 2026. Additionally, the key player predicts the superior performance per weight of CFRP and environmental regulations to lower CO2 emissions in the EU and the US will continue driving the demand for CFRP composites in the coming years

This 272 page report contains 222 tables, charts and graphs that add visual analysis in order to explain developing trends within the Carbon Fibre Reinforced Plastic Composites Market. The key player provides forecasts for the period 2016 to 2026 in terms of value (US$) for the Carbon Fibre Reinforced Plastic Composites market. In addition, 15 national Carbon Fibre Reinforced Plastic Composites markets and 7 end-use submarkets are forecasted and analysed over the period 2016 to 2026. The report also provides profiles of 6 leading companies operating within the market such as Hexcel, Toray, Cytec, Teijin etc.

The Carbon Fibre Reinforced Plastic (CFRP) Composites Market Forecast 2016-2026 report will be of value to current and future potential investors wanting to better understand the Carbon Fibre Reinforced Plastic Composites industry and its underlying dynamics, as well as companies and research centres who wish to broaden their knowledge of the Carbon Fibre Reinforced Plastic Composites market.