Press release
Carbon Fiber Reinforced Plastic (CFRP) & Carbon Fiber (CF) Market to grow at a CAGR of 10.5% during the forecast period of 2019 to 2024
Market Analysis:-
Carbon Fiber - Carbon Fiber Reinforced Plastic Market accounted for USD 20.46 Billion in 2016 and is projected to grow at a CAGR of 10.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Major Competitors:
• Toray Industries Inc
• TEIJIN LIMITED
• SGL Group
• Mitsubishi Chemical Holding Corporation
• Formosa Plastics Corporation among others.
Foremost market drivers & Restraints:
• Rising demand of fuel-efficient vehicles
• Growing usage of CF & CFRP in the airbus aircraft
• Concentrating on the electricity production from renewable sources
• Increasing cost of carbon fiber composites
• Inadequate production amalgamation
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Market Segmentation: Global CF & CFRP Market
On the basis of resin type, the global CF & CFRP Carbon Fibre and Carbon Fibre Reinforced Plastic market is segmented into
• thermosetting CFRP
• thermoplastic CFRP
On the basis of manufacturing process, the global CF & CFRP Carbon Fibre and Carbon Fibre Reinforced Plastic market is segmented into
• lay-up
• resin transfer molding
• compression molding
• injection molding
• filament winding
• pultrusion processes
On the basis of end users, the global CF & CFRP Carbon Fibre and Carbon Fibre Reinforced Plastic market is segmented into
• aerospace & defense
• automotive
• wind energy
• civil engineering
• sporting goods
• medical
• electrical & electronics
• marine
• pipe & tank
and more.....
Competitive Analysis:
The global CF & CFRP market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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