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Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market Expected to Reach USD 6,935.9 Million and 43,955.8 Million by 2027 respectively


Global Carbon Fiber

iCrowdNewswire   Jan 12, 2021  10:00 AM ET

38_Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market Key Takeaways

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market by Raw Material Type, Resin Type, Application, Sales Channel, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 3,340.5 Million for CF and, 18,248.0 Million in 2019 for CFRP and is expected to grow at a healthy growth rate of 9.6% and 11.6% respectively by the end of year 2027.

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The global Carbon Fiber & Carbon Fiber Reinforced Plastic market is fragmented based on raw material type, by resin type, application, sales channel, and region. Based on raw material type, the carbon fiber & carbon fiber reinforced plastic market has categorized as polyacrylonitrile carbon fibers (PAN-based CF), pitch-based carbon fiber, and rayon-based carbon fiber. In terms of resin type, the carbon fiber & carbon fiber reinforced plastic market has been bifurcated into thermosetting CFRP and thermoplastic CFRP. On the basis on application, the market is classified as aerospace & defense, sports & leisure, wind energy, automotive, pressure vessels, construction & infrastructure, chemical, oil & gas, and others. In terms of sales channel, the market is divided into manufacturer and distributor. Based on region, the global carbon fiber & carbon fiber reinforced plastic market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into GCC, South Africa, Rest of Middle East & Africa.

COVID-19 has affected many manufacturing industries and supply chain of market, which is indirectly related to the CF & CFRP market. The demand and supply of the products is affected due to temporary lockdowns. A majority of the CF & CFRP is used by aerospace & defense and automotive industries that are affected due to the restricted transportation globally leading to the import and export of the goods. This, in turn, is projected to hamper the Y-o-Y growth of the market during the forecast period.

As per GMR industry analyst Rajat Verma, “The Global Carbon Fiber & Carbon Fiber Reinforced Plastic Market is anticipated to witness significant growth during forecast period 2021-2027. Major trend in the development of carbon fibers is toward reducing processing costs, while maintaining their superior properties. Traditional metal structures are increasingly being substituted by CFRP products in aircraft owing to their light and strong design structure. Composite materials are becoming an essential part of the aerospace industry for the manufacturing products such as interior of airplane & jet and rotor blades of a helicopter.”

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 3,340.5 Million and 18,248.0 Million

Market Growth Rate (from 2021 to 2027)

9.6% and 11.6%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million) and Volume (Tons)

Market Segments

By Raw Material Type, By Resin Type, By Application, By Sales Channel

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, Indonesia, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

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 and Others

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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