CF & CFRP Market - Expected to Reach $37.1 Billion by 2022
DUBLIN, Dec. 8, 2017 /PRNewswire/ --
The "CF & CFRP Market by End-Use Industry (A&D, Wind Energy, Automotive, Sports, Civil Engineering, Pipe & Tank, Marine, Medical, E&E), Resin Type (Thermosetting, Thermoplastic), Manufacturing Process, Raw Material, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global market for Carbon Fiber Reinforced Plastic (CFRP), in terms of value, is projected to reach USD 37.19 Billion by 2022, at a CAGR of 10.50% between 2017 and 2022. In terms of volume, the global market for CFRP is projected to reach 210.19 kilotons by 2022, at a CAGR of 12.50% during the same period. Increasing number of patents filed for CFRP products and applications by global players, growing manufacturing industries, and continuous agreements, joint ventures & collaborations, and expansion activities undertaken by companies are the key factors driving the global market for CF & CFRP.
Pitch-based carbon fiber is expected to be the fastest-growing raw material type segment in the CF market, as these fibers have ultra-high elastic modulus, which are extensively used in high stiffness components, and have various advantages, such as high thermal and electric conductivity. Additionally, the thermoplastic composite is expected to be the fastest-growing resin type segment in the CFRP market. Thermoplastic resin, as a matrix material, can be reshaped and reformed unlike thermoset resin. The composite formed is also easily recyclable.
The automotive application segment of the global CFRP market is projected to grow at the highest CAGR between 2017 and 2022. This can be attributed to the growing needs of lighter, safer, cleaner, and more cost-effective vehicles. Several car companies, such as BMW (Germany), Audi (Germany), and GM (U.S.) have signed high-level agreements with carbon fiber composite material producers. High-end vehicles are incorporating carbon to make one-piece car frames that will drive the CF and CFRP market in the automotive industry.
The North America region is expected to lead the CFRP market, in terms of value, between 2017 and 2022. This growth can be attributed to the rising demand for superior performance products in the aerospace & defense industry, demand from Medium-Duty Vehicle (MDV) and Heavy-Duty Vehicle (HDV) for type-II and type-III CNG cylinders, ease of availability of raw materials for CFRP, and increasing adoption of expansions and other developmental strategies in the region.
Companies Mentioned
- Aeron Composite Pvt. Ltd.
- BGF Industries
- Crosby Composites
- Cytec Solvay Group
- Dowaksa
- Formosa Plastics Corporation
- Gurit Holdings AG
- HC Composite
- Hexcel Corporation
- Hindoostan Composite Solutions
- Hyosung
- Kemrock Industries and Exports Ltd.
- Mitsubishi Chemical Holdings Corporation
- Nippon Graphite Fiber Corporation
- Park Electrochemical Corporation
- Plasan Carbon Composites
- Royal DSM
- SGL Group
- SK Chemicals
- Sigmatex Limited
- Taekwang Industrial Co. Ltd.
- Teijin Limited
- Tencate
- Toray Industries Inc.
- Zhongao Carbon
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview and Key Trends
7 CF Market, By Raw Material Type
8 CFRP Market, By Resin Type
9 CFRP Market, By Manufacturing Process
10 CFRP Market, By End-Use Industry
11 CFRP Market, By Region
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/fncmpv/cf_and_cfrp
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