Global Carbon Fiber Reinforced Plastic (CFRP) Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The market for carbon fiber reinforced plastic (CFRP) is expected to witness a CAGR of more than 8% during the forecast period. Growing demand from the aerospace industry and a rising preference for fuel efficient and light-weight vehicles are the major factors driving the market. However, the high cost of the CFRP and inadequate production capacity are expected to hinder the growth of the market studied.
– Automotive industry dominated the market and is expected to grow during the forecast period, owing to the increasing demand for light-weight vehicles.
– Shifting focus on the development of low-cost products and technologies is likely to act as an opportunity in the future.
– Asia-Pacific dominated the market across the world, with the largest consumption from China and India.
Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
China Petroleum & Chemical Corporation, DMSH, Eni Company, ENOC Company, Enterprise Product Partners LP, Evonik Industries, Exxon Mobil Corporation, Formosa Plastics Corporation, Gazprom Neft PJSC, Hunan yuxin chemical Co. Ltd, Huntsman International LLC, LyondellBasell Industries Holdings BV, Panjin Heyun Industrial Group Co. Ltd, Petroleos Mexicanos (PEMEX), Petroliam Nasional Berhad (PETRONAS), QAFAC, Reliance Industries Limited, SABIC, SIBUR
The Carbon Fiber Rienforced Plastic (CFRP) market is partly fragmented and is highly competitive among the major players to increase their market share. Some of these major players include Solvay, Formosa Plastics Corporation, Nikkiso Co. Ltd, Allred & Associates Inc., and Rchling Group, amongst others.
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Asia-Pacific Region to Dominate the Market
– Asia-Pacific accounted for the largest share in the global CFRP market, owing to widespread adoption in industrial and automotive sectors in countries, like India and China.
– The aviation industry in China was said to be adding around 6,000 new airplanes between 2016 and 2033. Chinas domestic air passenger market experienced the biggest incremental rise, in terms of the number of journeys made by passengers as compared with previous years.
– The increase in the number of passengers encourages the government to invest more in the production of more flights, which, in turn, increases the consumption of CFRP.
– Japan has its own Japan Carbon Fiber Manufacturers Association, which merged with the Japan Chemical Fibers Association.
– The major end-user industry which uses CFRP in Japan includes aircraft and aerospace, automobiles, sports and recreational, building and civil engineering, wind energy, electronics, and medical science.
– Industries, like sports and leisure, building and construction, and wind power, are continuously finding newer applications for CFRPs, which are likely to further ignite the growth of CFRP market in Asia-Pacific, during the studied period.
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Major points covered in this research are:-
─Carbon Fiber Reinforced Plastic (CFRP) Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2025), Competition by Manufacturers
─Global Market Size (Value) of Carbon Fiber Reinforced Plastic (CFRP) (2019-2025)
─Global Carbon Fiber Reinforced Plastic (CFRP) Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)
─Global Carbon Fiber Reinforced Plastic (CFRP) Production, Revenue (Value), Price Trend by Type
─Global Carbon Fiber Reinforced Plastic (CFRP) Market Analysis by Application
─Global Carbon Fiber Reinforced Plastic (CFRP) Manufacturers Profiles/Analysis
─Carbon Fiber Reinforced Plastic (CFRP) Manufacturing Cost Analysis
─Industrial Chain, Sourcing Strategy and Downstream Buyers
─Marketing Strategy Analysis, Distributors/Traders
─Market Effect Factors Analysis
─Global Carbon Fiber Reinforced Plastic (CFRP) Market Forecast (2019-2025)
─Research Findings and Conclusion
Finally, this Carbon Fiber Reinforced Plastic (CFRP) report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Carbon Fiber Reinforced Plastic (CFRP) product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
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