Global CF-CFRP Market accounted for USD 20.46 Billion in 2016 and is projected to grow at a CAGR of 10.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
An extremely strong, thin fiber, consisting of long, chainlike molecules of pure carbon that are made by charring synthetic fibers such as rayon in the absence of oxygen. Carbon fibers are used in high-strength composite materials in aircraft, automobiles, architectural structures, and in other applications where light materials capable of withstanding high stress are required.
Carbon fibers are characterized by advantages including high stiffness, compound resistance & rigidity, low weight & warm extension, high chemical resistance. CFRP is an extremely strong and light fiber-fortified plastic that contains carbon fibers. They are used in aviation, automotive, civil engineering, sports merchandise industries which require high quality, lightweight and rigid materials.
Foremost market drivers: Global CF & CFRP Market
- Rising demand of fuel-efficient vehicles
- Growing usage of CF & CFRP in the airbus aircraft
- Concentrating on the electricity production from renewable sources
- Increasing cost of carbon fiber composites
- Inadequate production amalgamation
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Major Market Competitors: Global CF & CFRP Market
- Toray Industries Inc
- TEIJIN LIMITED
- SGL Group
- Mitsubishi Chemical Holding Corporation
- Formosa Plastics Corporation among others.
Competitive Analysis: Global CF & CFRP Market
The global CF & CFRP market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Market Segmentation: Global CF & CFRP Market
On the basis of resin type, the global CF & CFRP Carbon Fibre and Carbon Fibre Reinforced Plastic market is segmented into thermosetting CFRP and thermoplastic CFRP. Thermosetting CFRP is sub segmented into epoxy, vinyl ester and polyester whereas, thermoplastic CFRP is sub segmented into polypropylene, polyethylene terephthalate and polyethylene.
On the basis of manufacturing process, the global CF & CFRP Carbon Fibre and Carbon Fibre Reinforced Plastic market is segmented into lay-up, resin transfer molding, compression molding, injection molding, filament winding and pultrusion processes.
On the basis of end users, the global CF & CFRP Carbon Fibre and Carbon Fibre Reinforced Plastic market is segmented into aerospace & defense, automotive, wind energy, civil engineering, sporting goods, medical, electrical & electronics, marine and pipe & tank. Aerospace & Defense is sub segmented into exterior parts and interior parts. Automotive is also sub segmented into exterior parts and interior parts. Wind Energy is sub segmented into wind blades.
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