Carbon Fiber Reinforced Polymer (CFRP) Market Strength, Emerging Applications, Competitive Analysis 2016 to 2022

Global Carbon Fiber Reinforced Polymer is growing rapidly post 2016 as the market is boosted due various industries such as Construction, Electrical Isolation, Industrial, Marine and Others.

Product Description
Globally, carbon fiber reinforced polymer has increased its market growth in recent years and this market is expected to grow at a rapid pace in the forecasted period. Fiber reinforced polymer composites are made by combining a plastic polymer resin together with strong reinforcing fibers. Here components retain their original form and their own unique properties which results in a new composite material with heightened overall performance. Reinforcing polymer material with fibers further improves the strength and stiffness of carbon fibers. The polymer resin is typically viscous and may be easily molded but is relatively weak. The resin component protects it against abrasion or chemical attack and these acts as a binder in the reinforcing fibers, which mechanically support and transfer loads in the composite.

Carbon Fiber Reinforced Polymer Players
• Albemarle Corporation
• ICL (Israel Chemicals Ltd.)
• Chemtura Corporation
• Clariant International Ltd.
• Nabaltec AG
• The DOW Chemical Company
• BASF SE
• Chemtura Corporation
• Akzo Nobel
• Italmatch Chemicals
• Lanxess AG

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Carbon fiber reinforced polymer is anticipated to be XX tones by 2019, and growing at CAGR of XX %. Europe and North America leads the world with respect to the demand of carbon fiber reinforced polymer. Demand for this in North America is same as demand for the same in Europe and these exceeds the demand rate when compared to both Asia and Japan. Excess manufacturing capacity exists currently, especially in small-two capacity and in North America and Asia, but as per recent analysis done a significant demand growth has been suggested in two markets namely automotive and wind applications for meeting the demand. This creates a potential export opportunity for North American manufacturers.

Carbon fiber reinforced polymers offer weight and performance benefits that are driving demand for them. As the demand for these products will increase in several market sectors, this report addresses supply and demand issues as well as factors that have affected and can affect future U.S. competitiveness in the CF and CFRP supply chain. Total worldwide production nameplate capacity of all CF tows is expected to increase from XX tones in 2012 to XX tones in 2022, which is higher than the recent 2020 projection of XX tones but to meet a significantly higher demand level of XX tones. Demand was estimated to be XX tones in 2012 and it is predicted to be XX tones in 2022. Thus, while there is a current excess capacity of XX tones, a capacity shortage of XX tones could occur by 2022. Using these demand forecasts, supply and demand for carbon fibers seems to be in balance which means that whatever is demanded, supply is according to it. The latest 2022 worldwide carbon fiber demand prediction of wind energy and the automotive sectors are significantly higher (i.e., XX tones and XX tones), which is consistent with a higher level of estimated worldwide demand of XX tones in 2015.

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Segmentation:
The Global Carbon Fiber Reinforced Polymer Market is majorly segmented on the basis of Application, and production process. Based on the application the market is segmented Construction, Electrical Isolation, Industrial, Marine and Others. On basis of production process the market is segmented into Polyacrylonitrile (PAN) Precursor and Petroleum Pitch Precursor

Regional Analysis
North America is expected to maintain its dominance in the global market owing to increasing domestic demand for carbon fiber reinforced polymer by the chemical industry. Emerging markets of China, Japan and India are expected to boost the Asia Pacific Carbon Fiber Reinforced Polymer Market. Other emerging markets are the European and Middle East countries. North America has the largest market share for global carbon fiber reinforced polymer, followed by Europe and other parts of the world.

Intended Audience
• Manufacturers and distributors of Carbon Fiber Reinforced Polymer .
• Suppliers and traders of Carbon Fiber Reinforced Polymer .
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts.

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Market Research Future
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This release was published on openPR.