Carbon Fiber Reinforced Plastic (CFRP) Market Insights:
The Carbon Fiber Reinforced Plastic (CFRP) Market was analyzed which was worth USD 8.09 Billion in the year 2022, expecting a CAGR of 8.2% during the forecast period (2023-2030), and the market is projected to be valued at USD 15.20 Billion by 2030.
Driver:
The increased adoption of Carbon Fiber Reinforced Plastic (CFRP) in the Specialty Glass, Ceramic & Fiber is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Carbon Fiber Reinforced Plastic (CFRP) also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Carbon Fiber Reinforced Plastic (CFRP) in many sectors also boosts the market growth during the forecast period.
Carbon Fiber Reinforced Plastic (CFRP) is a high-strength composite material that consists of carbon fibers and a polymer matrix. The carbon fibers are embedded in the polymer matrix, which can be made from a variety of thermosetting or thermoplastic materials. The resulting material has exceptional mechanical properties, including high strength, stiffness, and light weight, making it an ideal choice for applications that require high-performance materials. CFRP is commonly used in the aerospace, automotive, and sports industries, as well as in other high-performance applications.
Carbon Fiber Reinforced Plastic (CFRP) Market Research Report” was just released by Market Research Community. It is divided into several categories, including type (Polyacrylonitrile (PAN), Petroleum Pitch, Others), application (Aerospace & Defense, Wind Turbines, Automotive, Sports Equipment, Building & Construction, Others), Resin Type (Thermosetting, Thermoplastic), and companies (Solvay S.A., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Jiangsu Hengshen Fibre Material Co., Ltd., Mitsubishi Rayon Co. Ltd., SGL Carbon SE, Teijin Limited, Toray Industries, Zhongfu Shenying Carbon Fiber Co. Ltd.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 8.2%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 15.20 Billion |
| CAGR (2023-2030) | 8.2% |
| By Type | Polyacrylonitrile (PAN), Petroleum Pitch, Others |
| By Resin Type | Thermosetting, Thermoplastic |
| By Application | Aerospace & Defense, Wind Turbines, Automotive, Sports Equipment, Building & Construction, Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Solvay S.A., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Jiangsu Hengshen Fibre Material Co., Ltd., Mitsubishi Rayon Co. Ltd., SGL Carbon SE, Teijin Limited, Toray Industries, Zhongfu Shenying Carbon Fiber Co. Ltd. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Carbon Fiber Reinforced Plastic (CFRP) market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Solvay S.A., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Jiangsu Hengshen Fibre Material Co., Ltd., Mitsubishi Rayon Co. Ltd., SGL Carbon SE, Teijin Limited, Toray Industries, Zhongfu Shenying Carbon Fiber Co. Ltd.
Market Segment Analysis:
By Type
- Polyacrylonitrile (PAN)
- Petroleum Pitch
- Others
By Resin Type
- Thermosetting
- Thermoplastic
By Application
- Aerospace & Defense
- Wind Turbines
- Automotive
- Sports Equipment
- Building & Construction
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Carbon Fiber Reinforced Plastic (CFRP) industries in the region.
Key Carbon Fiber Reinforced Plastic (CFRP) Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Carbon Fiber Reinforced Plastic (CFRP) Market segments.
– Largest Market Share Held by Industry to Industry for Carbon Fiber Reinforced Plastic (CFRP)
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Carbon Fiber Reinforced Plastic (CFRP) Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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