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Carbon Fiber Reinforced Plastic Market worth $45.01 billion by 2030, growing at a CAGR of 21.79% - Exclusive Report by 360iResearch
Carbon Fiber Reinforced Plastic Market | 360iResearch
The Global Carbon Fiber Reinforced Plastic Market to grow from USD 11.32 billion in 2023 to USD 45.01 billion by 2030, at a CAGR of 21.79%.
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Carbon fiber-reinforced plastic (CFRP) is a composite material consisting of a polymer matrix reinforced with carbon fibers. The polymer often used is epoxy, but other varieties, such as polyester, vinyl ester, or nylon, are also common. The major factors driving the expansion of CFRP use include its superior strength-to-weight ratio compared to traditional materials such as metal and wood, which is crucial for high-performance applications in aerospace, automotive, and sports equipment industries. Additionally, the growing demand for fuel-efficient vehicles to reduce emissions contributes to the rising adoption of CFRP, as lighter cars consume less fuel. There is also an increasing trend in the construction and wind energy sectors toward the use of composites due to their durability and resistance to environmental factors. However, their high cost, difficulties in recycling, and the complexity of repair compared to metals limit their widespread application. The development of more cost-effective manufacturing processes, advancements in recyclable thermoplastic composites, and improved repair techniques are underway to address these concerns. Innovation in 3D printing with CFRP could also bring down costs and allow for more complex shapes and structures. Moreover, the ongoing research focusing on reducing the carbon footprint of CFRP manufacturing and enhancing its recyclability promises a greener and more sustainable future for the use of these advanced materials.
In the Americas, the use of CFRP is highly integrated within the aerospace, defense, and automotive industries due to the material's strength-to-weight ratio and corrosion resistance. Major companies, primarily in the United States, have extensive production capabilities and are investing in research and development to advance CFRP technology, often driven by government and defense contracts. The Asia-Pacific (APAC) region, led by Japan, South Korea, and China, demonstrates a vigorous expansion in CFRP production and use. The regional market is propelled by the growing demand from the automotive, sports equipment, and wind energy sectors, with APAC companies focusing on high-volume and cost-effective production methods. Europe, the Middle East, and Africa (EMEA) exhibit a sophisticated and diverse marketplace for CFRP, with Europe at the forefront of advanced research, particularly in the automotive and aerospace sectors. The Eurocentric industrial ecosystem is characterized by strong regulatory frameworks encouraging the use of environmentally friendly materials and well-established automotive brands driving the demand for high-performance CFRP components. The EMEA region is also home to several leading carbon fiber manufacturers and suppliers with a strong focus on quality and innovation, which is critical to maintaining a competitive edge in the global CFRP market.
Market Segmentation & Coverage:
This research report categorizes the Carbon Fiber Reinforced Plastic Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Raw Material, market is studied across Petroleum Pitch and Polyacrylonitrile. The Petroleum Pitch commanded largest market share of 65.79% in 2023, followed by Polyacrylonitrile.
Based on Type, market is studied across Thermoplastic and Thermosetting. The Thermosetting commanded largest market share of 71.83% in 2023, followed by Thermoplastic.
Based on Application, market is studied across Aerospace & Defense, Automotive, Sports Equipment, and Wind Turbines. The Aerospace & Defense commanded largest market share of 32.01% in 2023, followed by Automotive.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.39% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Carbon Fiber Reinforced Plastic Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Carbon Fiber Reinforced Plastic Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Carbon Fiber Reinforced Plastic Market, highlighting leading vendors and their innovative profiles. These include Action Composite Technology Limited, Advanced Composites Inc., Aeron Composite Pvt. Ltd., Alformet B.V., Clock Spring Company, Inc., CompLam Material Co., Ltd., Crosby Composites Ltd., DowAksa Ileri Kompozit Malzemeleri San. Ltd. Şti., Formosa Plastics Group, Gen 2 Carbon Limited, Hexcel Corporation, Hyosung Group, Jiangsu Hengshen Co., Ltd., Kureha Corporation, Mitsubishi Chemical Group Corporation, Nippon Steel Corporation, Pioneer Carbon India, Plasan Sasa Ltd., Reinforced Plastic Industries, Röchling SE & Co. KG, SGL Carbon SE, Sigmatex (UK) Limited, Sika AG, Solvay S.A., TEIJIN LIMITED, Toray Industries, Inc., Umatex by Rosatom State Corporation, Veplas, d.d., and Zhongfu Shenying Carbon Fiber Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Carbon Fiber Reinforced Plastic Market, by Raw Material
7. Carbon Fiber Reinforced Plastic Market, by Type
8. Carbon Fiber Reinforced Plastic Market, by Application
9. Americas Carbon Fiber Reinforced Plastic Market
10. Asia-Pacific Carbon Fiber Reinforced Plastic Market
11. Europe, Middle East & Africa Carbon Fiber Reinforced Plastic Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Carbon Fiber Reinforced Plastic Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Carbon Fiber Reinforced Plastic Market?
3. What is the competitive strategic window for opportunities in the Carbon Fiber Reinforced Plastic Market?
4. What are the technology trends and regulatory frameworks in the Carbon Fiber Reinforced Plastic Market?
5. What is the market share of the leading vendors in the Carbon Fiber Reinforced Plastic Market?
6. What modes and strategic moves are considered suitable for entering the Carbon Fiber Reinforced Plastic Market?
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