March 30, 2020

Carbon Fiber Reinforced Plastic (CFRP) Market Is Expected To Reach US$ 67.94 Bn By 2025

The latest market report published by Credence Research, Inc. “Carbon Fiber Reinforced Plastic Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global carbon fiber reinforced plastic market was valued at US$ 32.21 Bn in 2016, and is expected to each US$ 67.94 Bn by 2025, expanding at a CAGR of 9.3% from 2017 to 2025.

Market Insights

The global market for carbon fiber reinforced plastic is gaining momentum with increasing consumption of these composites from various end use industries such as aerospace, automotive, and energy among others. Features such as high strength to weight ratio, superior performance than other materials and environment friendly nature of CFRP composite is expected to drive the market growth in near future.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/carbon-fiber-reinforced-plastic-cfrp-market

Government regulations are imposed to increase fuel efficiency in Europe, and the U.S. has forced manufacturers to focus on automotive weight reduction which has fuelled the demand of CFRP composites in these region. However, its high cost has restrained its penetration across various application segments. North America is the largest market in terms of CFRP consumption and is expected to maintain its dominance between 2017 and 2025; however, this region will lose its share to Europe and Asia Pacific. Governmental regulations towards energy efficient & environmentally friendly products expected drive demand in North American region. Asia Pacific will be the fastest growing market during the forecasted period owing to increasing demand from growing economies such as China and India.

Competitive Insights

Carbon fiber reinforced plastic market is oligopolistic in nature, dominated by few major players such as Toray Industries, Inc., Teijin Limited, Mitsubishi Rayon Co., Ltd., SGL Group, Hexcel Corporation and Formosa Plastics. Involvement of key manufacturers in low-cost product development is expected to create new avenues for major participants over the next few years.

Key Trends

  • Emerging economies with rising middle class population and rising disposable income offering huge growth potential
  • Emerging applications of CFRP composite market

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58712

Market Segmentation

By manufacturing process

  • Prepreg Layup
  • Pultrusion & Winding
  • Wet Lamination and Infusion
  • Press and Injection
  • Others

By application

  • Aerospace
  • Automotive
  • Energy
  • Sporting Equipment
  • Construction
  • Others

By Geography

  • North America (U.S., Canada)
  • Europe (U.K., Germany, France, Spain, Italy, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
  • Rest of the World (Latin America, Middle East & Africa)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58712

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