CF & CFRP Market Poised to Generate Substantial Revenue: Factors Explained for the 2023-2029 Period | Toray Industries Inc., (Japan), Teijin Limited (Japan), Mitsubishi Chemical Corporation (Japan), Hexcel Corporation (US), Solvay (Belgium), SGL Carbon (G

CF & CFRP Market by Source (Virgin, Recycled), Precursor, Resin Type, Manufacturing Process (Lay-up,Compression Molding, Resin Transfer Molding, Filament Winding, Pultrusion, Injection Molding), End-Use Industry, and Region - Global Forecasts to 2028

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The report provides a comprehensive analysis of company profiles: Prominent companies include Toray Industries Inc., (Japan), Teijin Limited (Japan), Mitsubishi Chemical Corporation (Japan), Hexcel Corporation (US), Solvay (Belgium), SGL Carbon (Germany), Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Co., Ltd. (China), among others.

"The virgin carbon fiber in by source type of CF market is projected to register the highest CAGR during the forecast period"

The CF market is projected to grow from USD 29.7 billion in 2022 to USD 60.3 billion by 2028, at a CAGR of 12.7% during the forecast period. Virgin carbon fiber is typically manufactured through a process called carbonization or pyrolysis. In this process, precursor materials, such as polyacrylonitrile (PAN), pitch, or rayon, are subjected to high temperatures in the absence of oxygen, causing the fibers to undergo chemical changes and carbonize. The resulting carbon fibers are then further processed and treated to enhance their properties. Virgin carbon fiber exhibits excellent mechanical properties, including high tensile strength, stiffness, and low weight. It offers a high strength-to-weight ratio, making it an ideal material for applications that require lightweight and strong components.

''In terms of value, wind energy end-use industry accounted for the second largest share of the overall CFRP market''

CFRP is commonly used in the construction of wind turbine blades due to its lightweight nature and high strength. CFRP composites allow for longer and lighter blades, enabling higher energy capture and improved efficiency. The unique properties of CFRP, including high stiffness and fatigue resistance, contribute to improved performance and durability of wind turbine blades. These materials can withstand the dynamic loads and vibrations experienced during operation, leading to reduced maintenance and increased lifespan. CFRP allows for the design and manufacturing of blades with complex shapes and airfoil profiles, optimizing aerodynamic efficiency. This results in increased power generation and improved energy conversion from wind to electricity.

"''In terms of value, Pultrusion process of by manufacturing process segment expected to register second-highest CAGR during the forecast period''

Based on manufacturing process type, the Pultrusion process is expected to register the second highest CAGR during the forecast period for the CFRP market. It is a continuous manufacturing process that involves pulling reinforcing fibers through a resin bath and then through a heated die to cure the resin, resulting in a continuous composite profile with a consistent cross-section. The pultrusion process offers several advantages in the CFRP market, including high production efficiency, precise control over fiber alignment, and the ability to produce continuous profiles with consistent properties. It is commonly used to manufacture CFRP profiles with constant cross-sections, such as rods, tubes, beams, and structural shapes, which find applications in construction, infrastructure, aerospace, automotive, and other industries.

"During the forecast period, the CFRP market in North America region is projected to register the second highest market share"

The CFRP market has been studied in North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. Europe accounted for the largest market share in 2022, whereas North America accounted for the second-largest market share in 2022, followed by Asia Pacific. The North American market will experience considerable growth in the next years because there has been an increasing demand for energy worldwide and North American region, which has driven the need for more efficient and durable CFRP materials. CFRP can help achieve these goals by reducing weight, improving corrosion resistance, and enhancing performance. In terms of developments, the CFRP industry is constantly evolving to meet changing market demands and regulatory requirements. For example, there is a growing demand for CFRP products in North America that are more environmentally sustainable and can help reduce carbon emissions. This has led to the development of new CFRP manufacturing processes and products, such as using recycled materials or producing lighter-weight materials that can improve fuel efficiency in vehicles.

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Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall CF & CFRP market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Research Coverage

This research report categorizes the CF & CFRP by Source (Virgin, Recycled), Precursor (PAN, Pitch, Rayon), Resin (Thermosetting, Thermoplastic), Manfacturing Process (Lay-Up Process, RTM Process, Pultrusion Process, Filament Winding Process, Compression Molding Process, Injection Molding Process, Other Processes) End-use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Sports Goods, Pipes & Tanks, Medical, Electrical& Electronics, Civil Engineering, Others) & region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the CF & CFRP market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the CF & CFRP market. Competitive analysis of upcoming startups in the CF & CFRP market ecosystem is covered in this report.

This release was published on openPR.