The global carbon fiber reinforced plastic (CFRP) market is currently witnessing strong growth. Looking forward, the market is expected to exhibit a CAGR of around 7% during 2020-2025.
The continuous growth in the aerospace industry, along with the increasing product demand for the manufacturing of lightweight automotive components, is one of the key factors driving the growth of the market.
In comparison to the traditionally used materials, such as aluminum and steel, CFRPs aid in the manufacturing of environment-friendly and lightweight components with improved fuel economy and higher efficiencies. Extensive utilization of CFRP in the production of various building and construction materials is acting as another major growth-inducing factor. Columns, piers, pylons and reinforcing structures are manufactured using CFRP, owing to its durability and resistance against electromagnetic interference.
Other factors, including the growing demand for high-performance products in the defense sector and the increasing product utilization in surgical implants and other medical applications, are projected to drive the market further.
The competitive landscape of the industry has also been examined with some of the key players being Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Carbon SE, Teijin Limited., Toray Industries, Inc., etc.
Key Questions Answered
How has the global carbon fiber reinforced plastic (CFRP) market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the raw materials?
What is the breakup of the market based on the type?
What is the breakup of the market based on the manufacturing process?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global carbon fiber reinforced plastic (CFRP) market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends