In a recently published report, Global CF and CFRP Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global CF and CFRP Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global CF & CFRP Market is valued approximately USD 25.04 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 10.40% over the forecast period 2019-2026. Carbon fibre reinforced polymer/plastic is a light weight and strong material that is used in various industries such as aerospace & defense, wind energy, automotive, sporting goods, civil engineering, pipe & tank, marine, electrical & electronics and medical. Due to light weight property of carbon fibre and carbon fibre reinforcement plastics, aircraft manufacturers including Airbus and Boeing are adopting carbon fibre material to manufacture various components in order to reduce weight and increase fuel efficiency. Thus, the aerospace and aircraft industry is expected to contribute significantly in the growth of CF & CFRP market. Further, the increase in deployment of components made of carbon fibre material in automotive industry in order to achieve higher fuel efficiency is expected to create a lucrative growth in the CF & CFRP market. For instance: in April 2017, Magna International Inc. announced that it is ready to revise the large structural parts it supplies out of carbon fiber. The increasing focus on producing electricity from renewable sources of energy has placed the carbon fibre reinforcement plastic products on surging trend. Moreover, the growing demand for CF & CFRP materials from the emerging economies and the increasing potential opportunities in new applications are the few factors that are expected to create lucrative growth opportunities for the CF & CFRP market over the forecast period. However, high cost of production and the inability to reduce the cycle time are the factors likely to restrain the market growth.
The regional analysis of global CF & CFRP Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing demand of superior performance products in the aerospace & defense industry, demand from Heavy-Duty Vehicle (HDV) and Medium-Duty Vehicle (MDV) for type-II and type-III CNG cylinders, ease of availability of raw materials for CFRP and other developmental strategies in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing investments in renewable energy and rapidly growing aviation industry would create lucrative growth prospects for the Building Information Modeling (BIM) market across Asia-Pacific region.
Major market player included in this report are:
Toray Industries Inc.
Mitsubishi Chemical Holdings Corporation
Formosa Plastics Corporation
Cytec Solvay Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Raw Material Type:
Polyacrylonitrile (Pan-Based) Carbon Fibres
Pitch-Based Carbon Fibre
Rayon-Based Carbon Fibre
By Resin Type:
By Manufacturing Process:
Compression Molding Process
Resin Transfer Molding Process
Filament Winding Process
Injection Molding Process
By End-Use Industry:
Aerospace & Defense
Pipe & Tank
Electrical & Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global CF & CFRP Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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