Global CFRP Market Research Report 2021

CFRP are composite materials made through infusion of a resin and a carbon fiber reinforcement. They offer high weight savings, increased tensile strength, fatigue resistance, impact resistance and durability which make them ideal for use in diversified industrial applications. CFRP products are increasingly substituting metals in various automotive applications, primarily to reduce fuel consumption. They are used in manufacturing of tennis racquets, aerospace & automotive components, protective helmets, blades for wind turbines, molding compounds, plates for building & construction and imaging equipment structures. These materials can be used as a chemical or water purifier owing to carbon being a powerful absorbent.
CFRP products offer higher weight saving and thus a better fuel economy than the traditional materials such as steel and aluminum. Vehicle manufacturers are obliged to reduce the average energy consumption of vehicles, and this goal can be met using lightweight products. In addition, increased demands for eco-friendly and low VOCs products in vehicles enhance the need for CFRP products in automotive industry.

Market Analysis and Insights: Global CFRP Market
The global CFRP market was valued at US$ 13720 million in 2019 and it is expected to reach US$ 18850 million by the end of 2026, growing at a CAGR of 4.6% during 2021-2026.

Global CFRP Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Global CFRP Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type
Thermosetting
Thermoplastic

Segment by Application
Aerospace & Defense
Wind Turbines
Automotive
Sports Equipment
Building & Construction
Molding Compounds
Others

By Company
Cytec Industries Inc.
DowAksa Advanced Composites Holdings B.V.
Formosa Plastics Corporation
Hexcel Corporation
Jiangsu Hengshen Fibre Material Co., Ltd.
Mitsubishi Rayon Co., Ltd
SGL Carbon SE
Teijin Limited.
Toray Industries, Inc.
Zhongfu Shenying Carbon Fiber Co., Ltd.

Production by Region
North America
Europe
China
Japan

Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E