Carbon Fiber Reinforced Plastic Market 2021-2026: Global Industry Trends, Share, Size, Growth and Forecast

According to the latest report by IMARC Group titled, “Carbon Fiber Reinforced Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 6% during (2021-2026).

Carbon fiber reinforced plastics (CFRPs) are non-metallic composite materials that are manufactured using thermosetting resins, such as epoxy, polyester and vinyl ester. They are strong, lightweight and resistant to numerous chemicals. Besides this, they exhibit high tensile and fatigue strength and can withstand high temperatures. Consequently, they are employed in the automotive industry for manufacturing premium sports cars, bicycles and motorbikes. They also find applications in the aerospace and defense industry for producing lightweight military planes and helicopters.

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Market Trends

CFRP is presently gaining traction across the aerospace industry as it reduces fuel consumption. This can also be attributed to the rising environmental concerns across the globe. These plastics are used in the manufacturing of laptops, tripods, fishing rods, racquet frames, stringed instrument bodies and golf clubs. Additionally, on account of its several benefits, CFRP is employed as an alternative to steel in the production of cable structures. Other than this, it is also utilized in the healthcare industry for manufacturing various medical instruments. Thus, the expanding applications of CFRP are expected to create a positive outlook for the market in the coming years.

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The report has segmented the market on the basis of raw materials, type, manufacturing process, application and geography.

Market Breakup by Raw Materials:

Polyacrylonitrile
Pitch-based
Rayon-based

Market Breakup by Type:

Thermoset
- Epoxy Resin
- Polyester Resin
- Vinyl Resin
Thermoplastic
- Polyurethane
- Polyether Ether Ketone
- Polyethersulfone

Market Breakup by Manufacturing Process:

Layup
Pultrusion and Filament Winding
Resin Transfer
Injection and Compression Moulding
Others

Market Breakup by Application:

Aerospace & Defense
Automotive
Wind Energy
Civil Engineering
Sporting Goods
Electrical and Electronics
Marine Applications
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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