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2023 Global Carbon Fiber Reinforced Plastic (CFRP) Market Trends, Size, Share, Growth And Forecast To 2032
Carbon Fiber Reinforced Plastic (CFRP) Market Report
Carbon Fiber Reinforced Plastic (CFRP) Market Size, Growth Rate, And Forecast:
The global carbon fiber reinforced plastic market size is expected to grow from $11.32 billion in 2022 to $12.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global carbon fiber reinforced plastic market size is expected to grow to $18.01 billion in 2027 at a CAGR of 9.4%.
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Carbon Fiber Reinforced Plastic (CFRP) Market Drivers:
The rise in demand for lightweight vehicles is expected to boost the growth of the carbon fiber reinforced plastic market going forward. Light weighting is a concept in the automobile industry referring to designing automobiles that are lighter, to achieve better fuel efficiency and handling. Automakers manufacture parts from carbon fiber, windshields from plastic, and bumpers out of aluminum foam, as ways to lessen vehicle load. Carbon fiber reinforced plastic (CPRF) has extremely low shrinkage and expansion against heat which is a strong benefit for automobiles body. CFRP are used in manufacturing expensive sports cars, bicycles, and motorbikes.
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Carbon Fiber Reinforced Plastic (CFRP) Market Segments
•By Type: Polyacrylonitrile, Petroleum Pitch, Other Types
•By Resin: Thermosetting, Thermoplastic
•By End-User: Aerospace, Automotive, Sports and Leisure, Building and Construction, Wind Power Industry, Other End-Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Carbon Fiber Reinforced Plastic (CFRP) market.
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Carbon Fiber Reinforced Plastic (CFRP) Market Key Players:
Major competitors in the carbon fiber reinforced plastic market include Solvay S.A, DowAksa Advanced Composites Holding B.V, Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., SGL Carbon SE, Teijin Limited, Toray Indusries, Nikkiso Co Ltd., AllRed & Associates Inc., Rochling Group, Jiangsu Hengshen Fiber Material Co. Ltd., Zhongfu Shenying Carbon Fiber Co. Ltd., Nippon Graphite Fiber Co. Ltd., and SABIC.
The Business Research Company's "Global Carbon Fiber Reinforced Plastic (CFRP) Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Carbon Fiber Reinforced Plastic (CFRP) Market Include:
1. Executive Summary
2. Carbon Fiber Reinforced Plastic (CFRP) Market Characteristics
3. Carbon Fiber Reinforced Plastic (CFRP) Market Trends And Strategies
4. Carbon Fiber Reinforced Plastic (CFRP) Market - Macro Economic Scenario
5. Carbon Fiber Reinforced Plastic (CFRP) Market Size And Growth
....
26. Africa Carbon Fiber Reinforced Plastic (CFRP) Market
27. Carbon Fiber Reinforced Plastic (CFRP) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Carbon Fiber Reinforced Plastic (CFRP) Market
29. Carbon Fiber Reinforced Plastic (CFRP) Market Future Outlook and Potential Analysis
30. Appendix
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