Global Market Size of Carbon Fiber - Projected to Reach $3.51 Billion by 2020, at a CAGR of 9.1% Between 2015 and 2020

Jan 26, 2016, 09:10 ET from Research and Markets

DUBLIN, Jan. 26, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/xkhjp4/carbon_fiber_cf) has announced the addition of the "Carbon Fiber (CF) and Carbon Fiber Reinforced Plastic (CFRP) Market - Trends and Forecasts to 2020 " report to their offering.

In terms of volume, the global market for carbon fiber (CF) is projected to reach 101.0 kilotons by 2020, at a CAGR of 11.6% during the same period. Additionally, the global market for carbon fiber reinforced plastic (CFRP), in terms of value, is projected to reach $35.75 Billion by 2020, at a CAGR of 9.9% between 2015 and 2020.

In terms of volume, global market for CFRP is projected to reach 152.6 kilotons by 2020, at a CAGR of 10.8% during the same period. The increasing number of patents filed for CFRP products & applications by global players, growing manufacturing industries, continuous agreements, joint ventures & collaborations, and expansion activities undertaken by companies are key factors for the growth of the global market for CF and CFRP.

The pitch-based carbon fiber is expected to be the fastest-growing raw material type in the carbon fiber market. This is because these fibers have ultra-high elastic modulus, which is extensively used in high stiffness components and have various advantages such as high thermal and electric conductivity.

The North American region, being the largest market for CFRP, is also projected to register a high CAGR of 10.7% in the CFRP market, in terms of value between 2015 and 2020. This growth is driven by the rising demand for:

  • Superior performance products in the aerospace & defense industry.
  • Demand from the medium-duty vehicle (MDV) and heavy-duty vehicle (HDV) for type-II and type III CNG cylinders.
  • Ease of availability of raw materials.
  • Increasing expansion and other development strategies in the region.

Companies Mentioned:

  • Cytec Industries Inc.
  • Dowaksa
  • Formosa Plastics Corporation
  • Hexcel Corporation
  • Hyosung
  • Mitsubishi Rayon Co. Ltd.
  • SGL Group
  • Taekwang Industrial Co. Ltd.
  • Teijin Limited
  • Tencate
  • Toray Industries Inc.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Carbon Fiber Market, By Raw Material Type & Tow Size

8 CFRP Market, By Resin Type

9 CFRP Market, By Manufcaturing Process

10 CFRP Market, By Application

11 CFRP Market, By Application

12 Competitive Landscape

13 Company Profiles

For more information visit http://www.researchandmarkets.com/research/xkhjp4/carbon_fiber_cf

Media Contact:

Laura Wood , +353-1-481-1716, press@researchandmarkets.net

 

 

SOURCE Research and Markets



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