Overview of the global carbon fiber reinforced plastic (CFRP) market

Technavio’s market research analysts have identified the increasing demand from the aerospace industry as one of the primary factors that will trigger the growth of the carbon fiber reinforced plastic (CFRP) market in the coming years. Owing to the improvements in the standard of living, open market, and industrialization, the aerospace industry will grow during the forecast period. The growing tourism in APAC countries such as China, Hong Kong, Malaysia, Thailand, Singapore, and India, will boost the growth of the aerospace industry. Moreover, growth in e-commerce market leads to business-to-consumer delivery of retail purchases which in turn will foster the demand for freight transportation. Our market research analysts estimate that in terms of volume this market will grow at a CAGR of more than 11% by 2022.

The increasing demand for fuel-efficient vehicles and electric cars is one of the key trends in the carbon fiber reinforced plastic (CFRP) market. Owing to the increasing urban population and rapid industrialization, automobile industries are witnessing huge growth in countries such as China and India. The increasing awareness about the benefits of green vehicles and lightweight vehicles can lead to increase in demand for fuel-efficient vehicles. Moreover, the demand for fuel-efficient and green vehicles is going to increase due to stringent government policies to reduce the emission of greenhouse gases, carbon dioxide, and other harmful pollutants.

Companies covered

The carbon fiber reinforced plastic (CFRP) market appears to be highly fragmented due to the presence of several vendors. This industry research report offers in-depth analysis of the competitive strategies adopted by the carbon fiber reinforced plastic manufacturers to sustain among the competitors in the market. Technavio’s analysts also study the key market areas along with the product offerings of the vendors in the market.

The report includes an analysis of a number of companies in this marketspace including -

• Hexcel
• HYOSUNG
• Mitsubishi Materials
• SGL
• TEIJIN
• TORAY INDUSTRIES

Segmentation by end-user and analysis of the carbon fiber reinforced plastic (CFRP) market

• Aerospace and defense industry
• Wind energy industry
• Automotive industry
• Sporting goods industry
• Marine industry

The aerospace and defense segment accounted for the major share of the market during 2017. The dominance of this segment is due to the increased demand. Our analysts predicted that this segment will perform well in the forthcoming years owing to the growing focus of the carbon fiber reinforced plastic manufacturers.

Geographical segmentation and analysis of the carbon fiber reinforced plastic (CFRP) market

• Americas
• APAC
• EMEA

In terms of geography, EMEA accounted for the majority of shares in the carbon fiber reinforced plastic (CFRP) market during 2017. Our market analysts predict that this region will witness significant growth in the market till the end of the forecast period. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global carbon fiber reinforced plastic (CFRP) market?
• What are the key market trends impacting the growth of the global carbon fiber reinforced plastic (CFRP) market?
• What are the challenges to market growth?
• Who are the key vendors in the global carbon fiber reinforced plastic (CFRP) market?
• What are the market opportunities and threats faced by the vendors in the global carbon fiber reinforced plastic (CFRP) market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global carbon fiber reinforced plastic (CFRP) market?