According to the recent study the Carbon Fiber Reinforced Plastic (CFRP) Market is projected to reach an estimated $27 billion by 2025 from $25 billion in 2019, at a CAGR of 1.2% from 2020 to 2025. Growth in this market is primarily driven by growing demand for high performance and lightweight composite materials and increasing performance requirements in the various end use industries.
Browse 210 figures / charts and 175 tables in this 212 -page report to understand trends, opportunities and forecast in carbon fiber reinforced plastic (CFRP) market by end use industry (aerospace, automotive, wind energy, marine, sporting goods, construction and pressure vessel), by process type, by resin type and region (North America, Europe, Asia Pacific and the Rest of the World).
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“Automotive market is expected to remain the largest segment during the forecast period.”
Based on end use industry, the carbon fiber reinforced plastic (CFRP) market is segmented into aerospace, automotive, wind energy, marine, sporting goods, construction and pressure vessel. Lucintel forecasts that the automotive market is expected to remain the largest segment and aerospace is estimated highest growth due increasing demand for high performance lightweight materials.
“Within the carbon fiber reinforced plastic (CFRP) market, the epoxy segment is expected to remain the largest resin type.”
Based on resin type, the epoxy segment is expected to witness the highest growth over the forecast period.
“North America will dominate the carbon fiber reinforced plastic (CFRP) market in near future.”
North America is expected to be the largest region with the highest growth over the forecast period due to the growth in automotive and aerospace industries in the US and government regulations on energy efficient product with less CO2 emission. APAC is expected to witness the highest growth over the forecast period.
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Major players of carbon fiber reinforced plastic (CFRP) market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. GKN Fokker, Mitsubishi, Voith, Hexcel Corporation, SGL Group, Plasan Carbon Composite, DowAksa and Toray are among the major Carbon fiber reinforced plastic (CFRP) providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carbon-fiber-reinforced-plastic-market.aspx or helpdesk@lucintel.com.
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Lucintel
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