Our latest research report entitled Carbon Fiber Reinforced Plastic Market (by raw materials (polyacrylonitrile, petroleum pitch, and other raw materials), type (thermosetting, and thermoplastic), application (aerospace & defense, wind turbines, sports equipment, automotive, and other applications)) provides complete and deep insights into the market dynamics and growth of Carbon Fiber Reinforced Plastic. The latest information on market risks, industry chain structure Carbon Fiber Reinforced Plastic cost structure, and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Carbon Fiber Reinforced Plastic growth factors.
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Growth in Oil Prices Results in the Growing Demand for Fuel-Efficient Vehicles and Aircrafts This Factor is Anticipated to Drive the Growth
Carbon fiber reinforced plastic are strong and lightweight substances that are used for manufacturing various products that are used in our daily life. To provide the strength and stiffness these substances are dependent on the carbon fibers whereas, polymers provide toughness and hold the fibers together. Therefore, it is used in various industries such as wind energy, molding, aerospace & defense, sports, automobile, civil, equipment, and marine. Besides, carbon fiber is also used for making laptops, sport racquet frames, tripods and so on. Carbon fiber reinforced plastic can be exchanged with traditional materials such as metal alloys, iron, and steel.
Increasing demand for CFRP in the automotive industry and growth in the defense sector are driving the growth of the carbon fiber reinforced plastic (CRFP) market. As per the International Organization of Motor Vehicle Manufacturers in 2017, the total number of vehicles produced in Canada was 2199789. Rising demand for CRFP in sports applications, especially in the Research and development activities in the aviation industry for manufacturing components is also boosting the growth of the market.
Further, growth in oil prices results in the growing demand for fuel-efficient vehicles and aircrafts this factor is anticipated to drive the growth of the CRFP market. Besides, increasing demand for hybrid and electric vehicles is generating the growth opportunity for the carbon fiber reinforced plastic market during the forecast period. On the other side, the high cost connected with the production of defense-grade CFRP is likely to restrain the growth of the carbon fiber reinforced plastic (CRFP) market.
North America Dominated the Growth of the Carbon Fiber Reinforced Plastic Market
In terms of geographies, North America dominated the growth of the carbon fiber reinforced plastic market followed by the Asia Pacific region. In North America region factors such as shifting of automotive industries towards the use of modern & lightweight materials and the presence of large aircraft and defense manufacturing companies drive the growth of the market in this region. Further, in the Asia Pacific region owing to development in infrastructure, growth in urbanization & industrialization, and expansion of the wind power market is positively supporting the growth of carbon fiber a reinforced plastic market in the Asia Pacific region.
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Report on Global Carbon Fiber Reinforced Plastic Market Covers Segments such as Raw Materials, Type, and Application
On the basis of raw materials, the sub-markets include polyacrylonitrile, petroleum pitch, and other raw materials. On the basis of type, the sub-markets include thermosetting, and thermoplastic. On the basis of application, the sub-markets include aerospace & defense, wind turbines, sports equipment, automotive, and other applications.
The report provides profiles of the companies in the market such as Solvay SA, DowAksa Advanced Composites Holding B.V., Formosa Plastics Corporation, Hexcel Corporation, JEC Group, Mitsubishi Chemical Corporation., SGL Carbon, TEIJIN LIMITED, TORAY INDUSTRIES, INC., ZHONGFU SHENYING CARBON FIBER CO., LTD., and Other companies.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/chemical-material/global-carbon-fiber-reinforced-plastic-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Carbon Fiber Reinforced Plastic.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.