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Carbon Fiber Reinforced Plastics (CFRP) Market Outlook and Opportunities in Grooming Regions 2026

05-15-2019 03:21 PM CET | Energy & Environment

Press release from: Coherent Market Insights

Carbon Fiber Reinforced Plastics (CFRP) Market

Carbon Fiber Reinforced Plastics (CFRP) Market

Fiber reinforced composites finds its application in various fields of engineering such as automotive, aerospace, and defense industries. Various advancements in technology, have led to development of lightweight composites with high tensile strength. Carbon fiber reinforced plastic, also referred to as carbon fiber reinforced thermoplastics, and is manufactured by blending carbon fiber with plastic, in order to enhance its strength. Carbon filaments produced from polymers such as polyacrylonitrile (PAN), rayon, and petroleum pitch, are the essential elements used in the manufacturing of CFRP. The carbon fiber is woven into resin, mostly epoxy resin, to culminate in the formation of a material exhibiting extremely high strength, rigidity, low density, excellent damping properties, and high resistance to thermal expansion. CFRP also exhibits enhanced electrical and thermal conductivity as compared to glass fiber reinforced plastics (GRP). These key attributes of CFRP allow for its incorporation in a wide range of applications such as aerospace & defense, wind energy, automotive, sports equipment, construction equipment, pipe & tanks, marine, electrical, and electronics. 

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Prevalent Scenario in Carbon Fiber Reinforced Plastics Market

Carbon fiber reinforced plastics are extensively used in the aerospace industry for manufacturing aircraft. Aircraft manufacturers such as Boeing and Airbus are enormously investing in research and development activities as means of manufacturing aircraft capable of withstanding high environmental stresses. These aerospace applications are subject to high standards, stringent compliances, and incur high licensing & inspection costs.  Stringent regulations on vehicle emissions have compelled the key automotive manufacturers such as Volkswagen, BMW, Ferrari, and Audi to lay more emphasize on reducing the weight of automobiles. In order to curb the weight of vehicles, CFRP is being widely used as a polymer composite, resulting in improved fuel-efficiency of vehicles. Also, stringent regulations such as Corporate Average Fuel Economy (CAFÉ) standards in the U.S. and carbon emission standards in Europe have led to an increasing demand for lightweight composites

Fragmented Market

The global carbon fiber reinforced plastics market is highly fragmented due to the presence of many established and emerging players in the CFRP market. Major players involved in the market include Toray Industries Inc. (Japan), Teijin Limited (Japan), Mitsubishi Rayon Co. Ltd. (Japan), SGL-Group (Germany), Formosa Plastics Corporation (Taiwan), and Hexcel Corporation (U.S.).

Global Carbon Fiber Reinforced Plastics Market Taxonomy
The global CFRP market is classified on the basis of the following segments:

By raw material type
◦ Polyacrylonitrile (Pan-Based) Carbon Fibers
▪ Polyacrylonitrile (Pan-Based) Carbon Fibers, by Tow size
• Small-Tow
• Large-Tow
▪ Pitch-Based Carbon Fiber
▪ Rayon-Based Carbon Fiber

By resin type
◦ Thermosetting CFRP
◦ Thermoplastic CFRP

By manufacturing process
◦ Lay Up Process
◦ Compression Molding Process
◦ Resin Transfer Molding Process
◦ Filament Winding Process
◦ Injection Molding Process
◦ Pultrusion Process
◦ Other Processes

By application
◦ Aerospace & Defense
Wind Energy
◦ Automotive
◦ Sporting Goods
◦ Civil Engineering
◦ Pipe & Tank
◦ Marine
◦ Electrical & Electronics
◦ Other Applications

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
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