A recent report published by Infinium Global Research on
carbon fiber reinforced plastic market provides an in-depth analysis of
segments and sub-segments in the global as well as regional carbon fiber
reinforced plastic market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional carbon fiber
reinforced plastic market over the short term as well as long term. The report
is a comprehensive presentation of trends, forecast and dollar values of global
carbon fiber reinforced plastic market. According to the report, the global
carbon fiber reinforced plastic market is projected to grow at a healthy CAGR
over the forecast period of 2019-2025.
Carbon fiber reinforced plastic are strong and lightweight
substances that are used for manufacturing various products that are used in
our daily life. To provide the strength and stiffness these substances are
depended on the carbon fibers whereas, polymers provide toughness and hold the
fibers together. Therefore, it is used in various industries such as wind
energy, molding, aerospace & defense, sports, automobile, civil, equipment,
and marine. Besides, carbon fiber is also used for making laptops, sport
racquet frames, tripods and so on. Carbon fiber reinforced plastic can be
exchanged with traditional materials such as metal alloys, iron, and steel.
Increasing demand for CFRP in the automotive industry and
growth in the defense sector are driving the growth of the carbon fiber
reinforced plastic (CRFP) market. As per the International Organization of
Motor Vehicle Manufacturers in 2017, the total number of vehicles produced in
Canada was 2199789. Rising demand for CRFP in sports applications, especially
in the Research and development activities in the aviation industry for
manufacturing components is also boosting the growth of the market. Further,
growth in oil prices results in the growing demand for fuel-efficient vehicles
and aircrafts this factor is anticipated to drive the growth of the CRFP
market. Besides, increasing demand for hybrid and electric vehicles is
generating the growth opportunity for the carbon fiber reinforced plastic
market during the forecast period. On the other side, the high cost connected
with the production of defense-grade CFRP is likely to restrain the growth of
the carbon fiber reinforced plastic (CRFP) market.
In terms of geographies, North America dominated the growth
of the carbon fiber reinforced plastic market followed by the Asia Pacific
region. In North America region factors such as shifting of automotive
industries towards the use of modern & lightweight materials and the
presence of large aircraft and defense manufacturing companies drive the growth
of the market in this region. Further, in the Asia Pacific region owing to
development in infrastructure, growth in urbanization & industrialization,
and expansion of the wind power market is positively supporting the growth of
carbon fiber a reinforced plastic market in the Asia Pacific region.
The report on global carbon fiber reinforced plastic market
covers segments such as raw materials, type, and application. On the basis of
raw materials, the sub-markets include polyacrylonitrile, petroleum pitch, and
other raw materials. On the basis of type, the sub-markets include
thermosetting, and thermoplastic. On the basis of application, the sub-markets
include aerospace & defense, wind turbines, sports equipment, automotive,
and other applications.
The report provides profiles of the companies in the market
such as Solvay SA, DowAksa Advanced Composites Holding B.V., Formosa Plastics
Corporation, Hexcel Corporation, JEC Group, Mitsubishi Chemical Corporation.,
SGL Carbon, TEIJIN LIMITED, TORAY INDUSTRIES, INC., ZHONGFU SHENYING CARBON
FIBER CO., LTD., and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of carbon fiber
reinforced plastic market. Moreover, the study highlights current market trends
and provides forecast from 2019-2025. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.
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