Carbon Fiber Reinforced Plastic Market: Trends, Opportunities and Competitive Analysis [2022-2027]

Carbon Fiber Reinforced Plastic Market Trends and Forecast

The future of the global carbon fiber reinforced plastic market looks promising with opportunities in the aerospace, automotive, wind energy, marine, sporting goods, construction, and pressure vessel. The global carbon fiber reinforced plastic market is expected to reach an estimated $13.1 billion by 2027 with a CAGR of 8.1% from 2021 to 2027.  The major drivers for this market are growing demand for high performance and lightweight composite materials and increasing performance requirements in the various end use industries.

Emerging Trends in the Carbon Fiber Reinforced Plastic Market

Emerging trends, which have a direct impact on the dynamics of the industry, include the development of technologies like plasma oxidation (used to oxidize the PAN precursor) and HP-RTM, will reduce the cost of raw material and reuse of CFRP is another emerging trend as it recycled carbon fiber reduces cost of product and environmental impact.
A total of 121 figures / charts and 95 tables are provided in this 223-page report to help in your business decisions. A sample figure with insights is shown below. 

Carbon Fiber Reinforced Plastic Market by Segment

The study includes a forecast for the global carbon fiber reinforced plastic market by end use, resin, process, and region as follows:

Carbon Fiber Reinforced Plastic Market by End Use [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:

• Aerospace
• Automotive
• Wind Energy
• Marine
• Sporting Goods
• Construction
• Pressure Vessel
• Others

Carbon Fiber Reinforced Plastic Market by Resin [Value ($B) Volume (M lbs.) shipment analysis for 2016 – 2027]:

• Epoxy
• Phenolic
• Polyester
• Vinyl ester
• PEEK
• PPS
• PEI
• PA
• Others

Carbon Fiber Reinforced Plastic Market by Process [Value ($B) Volume (M lbs.) shipment analysis for 2016 – 2027]:

• Prepreg Layup
• RTM
• Injection Molding
• Compression Molding
• Filament Winding
• Pultrusion
• Others

Carbon Fiber Reinforced Plastic Market by Region [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Carbon Fiber Reinforced Plastic Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies carbon fiber reinforced plastic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the carbon fiber reinforced plastic companies profiled in this report includes. 

• GKN Fokker
• Voith Composites
• Plasan Carbon Composites
• SGL Group
• Mitsubishi Material Trading Corporation
• DowAksa Advanced Composites Holding
• Toray Industries Inc.
• Mitsubishi Rayon Corporation Limited
• Teijin Limited
• Hexcel Corporation

Carbon Fiber Reinforced Plastic Market Insight

• Lucintel forecasts that aerospace will remain the largest end use segment over the forecast period due to superior strength-to-weight ratio and increasing demand for composites in the production of aircraft components, such as floor beams, ailerons, vertical stabilizers, elevators, wings, and engine nacelles.
• Epoxy based carbon fiber reinforced plastic will remain the largest segment over the forecast period due to its better chemical and mechanical properties.
• Europe is expected to remain the largest region and witness the highest growth over the forecast period due to the growth in automotive industry and increasing use of composite material in automotive industry because of its excellent mechanical properties.

Features of Carbon Fiber Reinforced Plastic Market

• Market Size Estimates: Carbon fiber reinforced plastic market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by end use, resin, process and region
• Regional Analysis: Carbon fiber reinforced plastic market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use industry, product type and regions for the carbon fiber reinforced plastic market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the carbon fiber reinforced plastic market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the carbon fiber reinforced plastic market size?
Answer: The global carbon fiber reinforced plastic market is expected to reach an estimated $13.1 billion by 2027  
Q2. What is the growth forecast for carbon fiber reinforced plastic market?
Answer: The carbon fiber reinforced plastic market is expected to grow at a CAGR of 8.1% from 2021 to 2027. 
Q3. What are the major drivers influencing the growth of the carbon fiber reinforced plastic market?
Answer: The major drivers for this market are growing demand for high performance and lightweight composite materials and increasing performance requirements in the various end use industries. 
Q4. What are the major applications or end use industries for carbon fiber reinforced plastic?
Answer: Aerospace, automotive, wind energy, marine, sporting goods, construction, pressure vessel, and others are the major end use industries for carbon fiber reinforced plastic.     
Q5. What are the emerging trends in carbon fiber reinforced plastic market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the development of technologies like plasma oxidation (used to oxidize the PAN precursor) and HP-RTM, will reduce the cost of raw material and reuse of CFRP is another emerging trend as it recycled carbon fiber reduces cost of product and environmental impact.
Q6. Who are the key carbon fiber reinforced plastic companies?
Answer: Some of the key carbon fiber reinforced plastic companies are as follows:

• GKN Fokker
• Voith Composites
• Plasan Carbon Composites
• SGL Group
• Mitsubishi Material Trading Corporation
• DowAksa Advanced Composites Holding
• Toray Industries Inc.
• Mitsubishi Rayon Corporation Limited
• Teijin Limited
• Hexcel Corporation

Q7. Which carbon fiber reinforced plastic resin segment will be the largest in future?
Answer: Lucintel forecasts that epoxy based resin carbon fiber reinforced plastic will remain the largest segment over the forecast period due to its better chemical and mechanical properties
Q8. In carbon fiber reinforced plastic market, which region is expected to be the largest in next 5 years?
Answer: Europe is expected to remain the largest region and witness the highest growth over next 5 years due to the growth in automotive industry and increasing use of composite material in automotive industry because of its excellent mechanical properties.  
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global carbon fiber reinforced plastic market by end aerospace, automotive, wind energy, marine, sporting goods, construction, pressure vessel and others), by process type, by resin type, and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?