Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market By Raw Material Type (Polyacrylonitrile Carbon Fibers (PAN-Based CF), Pitch-Based Carbon Fiber, And Rayon-Based Carbon Fiber), By Resin Type (Thermosetting CFRP, Thermoplastic CFRP), By Application (Aerospace & Defense, Sports & Leisure, Wind Energy, Automotive, Pressure Vessels, Construction & Infrastructure, Chemical, Oil & Gas, And Others), By Sales Channel (Manufacturer, Distributor), and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)
Market Outlook:
The global Carbon Fiber market was valued at USD 3,340.5 Million in 2019 and is projected to reach USD 6,935.9 Million by 2027, expanding at a CAGR of 9.6% during the forecast period. The global Carbon Fiber Reinforced Plastic Market is projected to reach 43,955.8 Million with 11.6% CAGR from 18,248.0 Million revenue in 2019. Carbon fiber (CF) is a polymer that consists of a long chain of carbon atoms bonded together. These fibers are very strong, extremely stiff, and light in weight. A carbon fiber is thinner than a strand of human hair. The fiber becomes extremely strong when twisted together in the same manner as a yarn. Strands of fiber can be also woven together to produce cloth. Carbon fiber reinforced plastic (CFRP) is a composite material that uses carbon fibers, as the principal structural component. This combination of reinforcing carbons and a polymer matrix leads to high-performance materials, which allows weight reduction by 50%, while steel decrease weight by 20%, as compared to aluminum.
Companies in industries such as automotive, construction, and aerospace are engaging in extensive research and development (R&D) activities to move from niche to high-volume applications. Carbon fiber reinforced plastic is sometimes also referred to as carbon fiber reinforced polymer. CFRP materials are widely used in the manufacturing of top-end sports cars that require strong and light materials. Furthermore, high-end competition motorbikes and bicycles use CRPF frames, handlebars, and forks to keep the weight to a minimum.
Market Dynamics
Market drivers
Superior mechanical and physical properties of CF materials such as lightweight, high tensile strength, and impact resistance make these materials ideal for making vehicles fuel-efficient and reliable. This, in turn, is increasing the demand for CF materials in various industries such as aerospace & defense, automotive, sports, and wind turbines.
The aerospace & defense industry has stringent performance product requirements for applications in commercial aircraft, satellites, helicopters, engines, and launchers. This, in turn, is increasing the demand for high-performance products in the aerospace and defense industry, which is fueling the demand for CRPF products.
Market Restraints
CFRP product manufacturing requires a long production cycle; therefore, fewer number of goods are produced in a particular period of time, thus restricting the use of CFRP products in applications where higher number of products are required in a short time period. The high cost of manufacturing composite materials is likely to hinder the growth of the market.
Segmental Outlook
On the basis of raw materials, the market has been segmented into polyacrylonitrile carbon fibers (PAN-based CF), pitch-based carbon fiber, and rayon-based carbon fiber. The PAN-based CF dominates the market and is projected to expand at a CAGR of 9.3% during the forecast period. Polyacrylonitrile (PAN) is extensively used in the production of CF owing to its excellent mechanical properties such as high tensile strength and temperature resistance. Moreover, PAN is less expensive than other raw materials.
Based on resin types, the market has been bifurcated into thermosetting CFRP and thermoplastic CFRP. Thermosetting CFRP is projected to constitute more than 79% share of market by 2026.
In terms of applications, the market has been classified as aerospace & defense, sports & leisure, wind energy, automotive, pressure vessels, construction & infrastructure, chemical, oil & gas, and others. In terms of volume and revenue, the aerospace & defense segment is anticipated to account for a key share of the market, during the forecast period. The automotive segment is estimated to expand at a significant CAGR of 12.8% owing to the rising global demand for automobile sector. CFRP is light weight as compared to metals thus gives high mileage and, less cost and weight. CF is employed in the manufacture of part such as blade spar caps, root sections, blade shells, drive shafts, and towers.
On the basis of sales channels, the market has been bifurcated into manufacturers and distributors. Leading manufacturers of CF have increased their production capacity to cater to the increasing global demand. The CF market is highly concentrated. Major manufacturers include Hexcel Corporation, SGL Carbon SE, Mitsubishi Chemical Carbon Fiber and Composites, Toho Tenax, and Toray Industries Inc. among others. Distribution is the process of making a service or product available for the consumer or business users who demand them. Distributors usually have a business relationship with manufactures that produces product.
Regional Outlook
On the basis of regions, the global carbon fiber and carbon fiber reinforced plastics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is a promising region for the market. Growing research and development activities in the aerospace and defense sector in the US, is expected to boost the demand for CF and CFRP during the forecast period.
Competitive Landscape
- Key players in the market include TEIJIN LIMITED, Formosa Plastics Corporation, Hexcel Corporation, TORAY INDUSTRIES, INC., and others. They considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the carbon fiber & carbon fiber reinforced plastic extraction is added in the company’s capacity.
- For instance, On December 19, 2017, SGL Carbon completed the purchase of 50% shares of BENTELER Carbon Composites Beteiligungs-GmbH in the joint venture Benteler SGL GmbH & Co. KG, Paderborn. The transaction resulted in SGL Carbon being the sole owner of the company, thus strengthening its production capabilities for components produced from fiber-reinforced composites.
- On December 3, 2019, Solvay and SGL Carbon entered into a joint development agreement (JDA) to commercialize composite materials based on large-tow intermediate modulus (IM) carbon fiber. This agreement has helped Solvay strengthen its hold in the aerospace industry.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Carbon Fiber & Carbon Fiber Reinforced Plastic Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Carbon Fiber & Carbon Fiber Reinforced Plastic Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.2.4 Market Trends
4.3 Carbon Fiber & Carbon Fiber Reinforced Plastic Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Carbon Fiber & Carbon Fiber Reinforced Plastic Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market Size & Forecast, 2017-2027
4.5.1 Carbon Fiber & Carbon Fiber Reinforced Plastic Market Size and Y-o-Y Growth
4.5.2 Carbon Fiber & Carbon Fiber Reinforced Plastic Market Absolute $ Opportunity
Chapter 5 Global Carbon Fiber Market Analysis and Forecast By Raw Material Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Raw Material Type
5.1.2 Basis Point Share (BPS) Analysis By Raw Material Type
5.1.3 Absolute $ Opportunity Assessment By Raw Material Type
5.2 Carbon Fiber Market Size & Volume Forecast By Raw Material Type
5.2.1 Polyacrylonitrile Carbon Fibers
5.2.2 Pitch-Based Carbon Fiber
5.2.3 Rayon-Based Carbon Fiber
5.3 Market Attractiveness Analysis By Raw Material Type
Chapter 6 Global Carbon Fiber Reinforced Plastic Market Analysis and Forecast By Resin Type
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Resin Type
6.1.2 Basis Point Share (BPS) Analysis By Resin Type
6.1.3 Absolute $ Opportunity Assessment By Resin Type
6.2 Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Resin Type
6.2.1 Thermosetting CFRP
6.2.2 Thermoplastic CFRP
6.3 Market Attractiveness Analysis By Resin Type
Chapter 7 Global Carbon Fiber Reinforced Plastic Market Analysis and Forecast By Application
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By Application
7.1.2 Basis Point Share (BPS) Analysis By Application
7.1.3 Absolute $ Opportunity Assessment By Application
7.2 Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Application
7.2.1 Aerospace and Defense
7.2.2 Wind Energy
7.2.3 Sports & Leisure
7.2.4 Chemical
7.2.5 Automotive
7.2.6 Pressure Vessels
7.2.7 Construction and Infrastructure
7.2.8 Oil and Gas
7.2.9 Other
7.3 Market Attractiveness Analysis By Application
Chapter 8 Global Carbon Fiber Reinforced Plastic Market Analysis and Forecast By Sales Channel
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities By Sales Channel
8.1.2 Basis Point Share (BPS) Analysis By Sales Channel
8.1.3 Absolute $ Opportunity Assessment By Sales Channel
8.2 Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Sales Channel
8.2.1 Manufacturer
8.2.2 Distributor
8.3 Market Attractiveness Analysis By Sales Channel
Chapter 9 Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market Analysis and Forecast by Region
9.1 Introduction
9.1.1 Key Market Trends & Growth Opportunities by Region
9.1.2 Basis Point Share (BPS) Analysis by Region
9.1.3 Absolute $ Opportunity Assessment by Region
9.2 Carbon Fiber & Carbon Fiber Reinforced Plastic Market Size Forecast by Region
9.2.1 North America
9.2.2 Europe
9.2.3 Asia Pacific
9.2.4 Latin America
9.2.5 Middle East & Africa (MEA)
9.3 Market Attractiveness Analysis by Region
Chapter 10 Coronavirus Disease (COVID-19) Impact
10.1 Introduction
10.2 Current & Future Impact Analysis
10.3 Economic Impact Analysis
10.4 Government Policies
10.5 Investment Scenario
Chapter 11 North America Carbon Fiber & Carbon Fiber Reinforced Plastic Market Analysis and Forecast
11.1 Introduction
11.2 North America Carbon Fiber Reinforced Plastic Market Size Forecast by Country
11.2.1 U.S.
11.2.2 Canada
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 North America Carbon Fiber Market Size & Volume Forecast By Raw Material Type
11.6.1 Polyacrylonitrile Carbon Fibers
11.6.2 Pitch-Based Carbon Fiber
11.6.3 Rayon-Based Carbon Fiber
11.7 Basis Point Share (BPS) Analysis By Raw Material Type
11.8 Absolute $ Opportunity Assessment By Raw Material Type
11.9 Market Attractiveness Analysis By Raw Material Type
11.10 North America Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Resin Type
11.10.1 Thermosetting CFRP
11.10.2 Thermoplastic CFRP
11.11 Basis Point Share (BPS) Analysis By Resin Type
11.12 Absolute $ Opportunity Assessment By Resin Type
11.13 Market Attractiveness Analysis By Resin Type
11.14 North America Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Application
11.14.1 Aerospace and Defense
11.14.2 Wind Energy
11.14.3 Sports & Leisure
11.14.4 Chemical
11.14.5 Automotive
11.14.6 Pressure Vessels
11.14.7 Construction and Infrastructure
11.14.8 Oil and Gas
11.14.9 Other
11.15 Basis Point Share (BPS) Analysis By Application
11.16 Absolute $ Opportunity Assessment By Application
11.17 Market Attractiveness Analysis By Application
11.18 North America Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Sales Channel
11.18.1 Manufacturer
11.18.2 Distributor
11.19 Basis Point Share (BPS) Analysis By Sales Channel
11.20 Absolute $ Opportunity Assessment By Sales Channel
11.21 Market Attractiveness Analysis By Sales Channel
Chapter 12 Europe Carbon Fiber & Carbon Fiber Reinforced Plastic Market Analysis and Forecast
12.1 Introduction
12.2 Europe Carbon Fiber Reinforced Plastic Market Size Forecast by Country
12.2.1 Germany
12.2.2 France
12.2.3 Italy
12.2.4 U.K.
12.2.5 Spain
12.2.6 Russia
12.2.7 Rest of Europe
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Europe Carbon Fiber Market Size & Volume Forecast By Raw Material Type
12.6.1 Polyacrylonitrile Carbon Fibers
12.6.2 Pitch-Based Carbon Fiber
12.6.3 Rayon-Based Carbon Fiber
12.7 Basis Point Share (BPS) Analysis By Raw Material Type
12.8 Absolute $ Opportunity Assessment By Raw Material Type
12.9 Market Attractiveness Analysis By Raw Material Type
12.10 Europe Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Resin Type
12.10.1 Thermosetting CFRP
12.10.2 Thermoplastic CFRP
12.11 Basis Point Share (BPS) Analysis By Resin Type
12.12 Absolute $ Opportunity Assessment By Resin Type
12.13 Market Attractiveness Analysis By Resin Type
12.14 Europe Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Application
12.14.1 Aerospace and Defense
12.14.2 Wind Energy
12.14.3 Sports & Leisure
12.14.4 Chemical
12.14.5 Automotive
12.14.6 Pressure Vessels
12.14.7 Construction and Infrastructure
12.14.8 Oil and Gas
12.14.9 Other
12.15 Basis Point Share (BPS) Analysis By Application
12.16 Absolute $ Opportunity Assessment By Application
12.17 Market Attractiveness Analysis By Application
12.18 Europe Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Sales Channel
12.18.1 Manufacturer
12.18.2 Distributor
12.19 Basis Point Share (BPS) Analysis By Sales Channel
12.20 Absolute $ Opportunity Assessment By Sales Channel
12.21 Market Attractiveness Analysis By Sales Channel
Chapter 13 Asia Pacific Carbon Fiber & Carbon Fiber Reinforced Plastic Market Analysis and Forecast
13.1 Introduction
13.2 Asia Pacific Carbon Fiber Reinforced Plastic Market Size Forecast by Country
13.2.1 China
13.2.2 Japan
13.2.3 South Korea
13.2.4 India
13.2.5 Australia
13.2.6 South East Asia (SEA)
13.2.7 Rest of Asia Pacific (APAC)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Asia Pacific Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Raw Material Type
13.6.1 Polyacrylonitrile Carbon Fibers
13.6.2 Pitch-Based Carbon Fiber
13.6.3 Rayon-Based Carbon Fiber
13.7 Basis Point Share (BPS) Analysis By Raw Material Type
13.8 Absolute $ Opportunity Assessment By Raw Material Type
13.9 Market Attractiveness Analysis By Raw Material Type
13.10 Asia Pacific Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Resin Type
13.10.1 Thermosetting CFRP
13.10.2 Thermoplastic CFRP
13.11 Basis Point Share (BPS) Analysis By Resin Type
13.12 Absolute $ Opportunity Assessment By Resin Type
13.13 Market Attractiveness Analysis By Resin Type
13.14 Asia Pacific Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Application
13.14.1 Aerospace and Defense
13.14.2 Wind Energy
13.14.3 Sports & Leisure
13.14.4 Chemical
13.14.5 Automotive
13.14.6 Pressure Vessels
13.14.7 Construction and Infrastructure
13.14.8 Oil and Gas
13.14.9 Other
13.15 Basis Point Share (BPS) Analysis By Application
13.16 Absolute $ Opportunity Assessment By Application
13.17 Market Attractiveness Analysis By Application
13.18 Asia Pacific Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Sales Channel
13.18.1 Manufacturer
13.18.2 Distributor
13.19 Basis Point Share (BPS) Analysis By Sales Channel
13.20 Absolute $ Opportunity Assessment By Sales Channel
13.21 Market Attractiveness Analysis By Sales Channel
Chapter 14 Latin America Carbon Fiber & Carbon Fiber Reinforced Plastic Market Analysis and Forecast
14.1 Introduction
14.2 Latin America Carbon Fiber Reinforced Plastic Market Size Forecast by Country
14.2.1 Brazil
14.2.2 Mexico
14.2.3 Rest of Latin America (LATAM)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Latin America Carbon Fiber Market Size & Volume Forecast By Raw Material Type
14.6.1 Polyacrylonitrile Carbon Fibers
14.6.2 Pitch-Based Carbon Fiber
14.6.3 Rayon-Based Carbon Fiber
14.7 Basis Point Share (BPS) Analysis By Raw Material Type
14.8 Absolute $ Opportunity Assessment By Raw Material Type
14.9 Market Attractiveness Analysis By Raw Material Type
14.10 Latin America Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Resin Type
14.10.1 Thermosetting CFRP
14.10.2 Thermoplastic CFRP
14.11 Basis Point Share (BPS) Analysis By Resin Type
14.12 Absolute $ Opportunity Assessment By Resin Type
14.13 Market Attractiveness Analysis By Resin Type
14.14 Latin America Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Application
14.14.1 Aerospace and Defense
14.14.2 Wind Energy
14.14.3 Sports & Leisure
14.14.4 Chemical
14.14.5 Automotive
14.14.6 Pressure Vessels
14.14.7 Construction and Infrastructure
14.14.8 Oil and Gas
14.14.9 Other
14.15 Basis Point Share (BPS) Analysis By Application
14.16 Absolute $ Opportunity Assessment By Application
14.17 Market Attractiveness Analysis By Application
14.18 Latin America Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Sales Channel
14.18.1 Manufacturer
14.18.2 Distributor
14.19 Basis Point Share (BPS) Analysis By Sales Channel
14.20 Absolute $ Opportunity Assessment By Sales Channel
14.21 Market Attractiveness Analysis By Sales Channel
Chapter 15 Middle East & Africa (MEA) Carbon Fiber & Carbon Fiber Reinforced Plastic Market Analysis and Forecast
15.1 Introduction
15.2 Middle East & Africa (MEA) Carbon Fiber Reinforced Plastic Market Size Forecast by Country
15.2.1 Saudi Arabia
15.2.2 South Africa
15.2.3 UAE
15.2.4 Rest of Middle East & Africa (MEA)
15.3 Basis Point Share (BPS) Analysis by Country
15.4 Absolute $ Opportunity Assessment by Country
15.5 Market Attractiveness Analysis by Country
15.6 Middle East & Africa (MEA) Carbon Fiber Market Size & Volume Forecast By Raw Material Type
15.6.1 Polyacrylonitrile Carbon Fibers
15.6.2 Pitch-Based Carbon Fiber
15.6.3 Rayon-Based Carbon Fiber
15.7 Basis Point Share (BPS) Analysis By Raw Material Type
15.8 Absolute $ Opportunity Assessment By Raw Material Type
15.9 Market Attractiveness Analysis By Raw Material Type
15.10 Middle East & Africa (MEA) Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Resin Type
15.10.1 Thermosetting CFRP
15.10.2 Thermoplastic CFRP
15.11 Basis Point Share (BPS) Analysis By Resin Type
15.12 Absolute $ Opportunity Assessment By Resin Type
15.13 Market Attractiveness Analysis By Resin Type
15.14 Middle East & Africa (MEA) Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Application
15.14.1 Aerospace and Defense
15.14.2 Wind Energy
15.14.3 Sports & Leisure
15.14.4 Chemical
15.14.5 Automotive
15.14.6 Pressure Vessels
15.14.7 Construction and Infrastructure
15.14.8 Oil and Gas
15.14.9 Other
15.15 Basis Point Share (BPS) Analysis By Application
15.16 Absolute $ Opportunity Assessment By Application
15.17 Market Attractiveness Analysis By Application
15.18 Middle East & Africa (MEA) Carbon Fiber Reinforced Plastic Market Size & Volume Forecast By Sales Channel
15.18.1 Manufacturer
15.18.2 Distributor
15.19 Basis Point Share (BPS) Analysis By Sales Channel
15.20 Absolute $ Opportunity Assessment By Sales Channel
15.21 Market Attractiveness Analysis By Sales Channel
Chapter 16 Competition Landscape
16.1 Carbon Fiber & Carbon Fiber Reinforced Plastic Market: Competitive Dashboard
16.2 Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market: Market Share Analysis, 2019
16.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
16.3.1 Advanced Composites Inc.
16.3.2 Crosby Composites
16.3.3 DowAksa
16.3.4 Formosa Plastics Corporation
16.3.5 Gurit
16.3.6 Hexcel Corporation
16.3.7 Hyosung Advanced Materials
16.3.8 Mitsubishi Chemical Corporation
16.3.9 NIPPON STEEL Chemical & Material Co., Ltd.
16.3.10 Röchling
16.3.11 SGL Carbon
16.3.12 Solvay
16.3.13 TEIJIN LIMITED
16.3.14 TORAY INDUSTRIES, INC.
16.3.15 Veplas d.d.
16.3.16 ZOLTEK
Carbon Fiber, By Raw Material Type
- Polyacrylonitrile Carbon Fibers
- Pitch-Based Carbon Fiber
- Rayon-Based Carbon Fiber
Carbon Fiber Reinforced Plastic, By Resin Type
- Thermosetting CFRP
- Thermoplastic CFRP
Carbon Fiber Reinforced Plastic, By Application
- Aerospace and Defense
- Wind Energy
- Sports & Leisure
- Chemical
- Automotive
- Pressure Vessels
- Construction and Infrastructure
- Oil and Gas
- Other
Carbon Fiber Reinforced Plastic, By Sales Channel
- Manufacturer
- Distributor
Carbon Fiber & Carbon Fiber Reinforced Plastic, By Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of Middle East & Africa
Key Market Players Profiled in the Report
- Advanced Composites Inc.
- Crosby Composites
- DowAksa
- Formosa Plastics Corporation
- Gurit
- Hexcel Corporation
- Hyosung Advanced Materials
- Mitsubishi Chemical Corporation
- NIPPON STEEL Chemical & Material Co., Ltd.
- Röchling
- SGL Carbon
- Solvay
- TEIJIN LIMITED
- TORAY INDUSTRIES, INC.
- Veplas d.d.
- ZOLTEK
Our Clients
FAQ Section
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the data is available on request.
Yes, the report covers raw material type specific information such as polyacrylonitrile carbon fibers (PAN-based CF), pitch-based carbon fiber, and rayon-based carbon fiber.
According to this Growth Market Reports report, the market from Carbon Fiber & Carbon Fiber Reinforced Plastic market is likely to register a CAGR of 9.6% and 11.6% during forecast period 2020-2027, with an anticipated valuation of USD 3,340.5 Million and 18,248.0 Million by the end of the 2027.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such macro-economic factors, COVID-19 Impact on the Carbon Fiber & Carbon Fiber Reinforced Plastic is available in final report.
6. What are the factors driving the growth of Carbon Fiber & Carbon Fiber Reinforced Plastic market?
The market is driven by major factors such as increasing demand for carbon fiber (CF) and carbon fiber reinforced plastics (CFRP) products from aerospace & defense, wind energy, and automotive industries. CFRP products are replacing several metals in various automotive applications to reduce fuel consumption. This, in turn, is boosting market growth.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness decrease in demand owing to the negative impact of COVID-19 pandemic on the Carbon Fiber & Carbon Fiber Reinforced Plastic market.
The base year considered for the global Carbon Fiber & Carbon Fiber Reinforced Plastic market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Aerospace & defense, sports & leisure, wind energy, automotive, pressure vessels, construction & infrastructure, chemical, oil & gas, and others are the key applications that are driving the Carbon Fiber & Carbon Fiber Reinforced Plastic market.
Major Manufactures include, TEIJIN LIMITED, Formosa Plastics Corporation, Hexcel Corporation, TORAY INDUSTRIES, INC., and others.
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