The latest research study “Carbon Fiber Reinforced Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global carbon fiber reinforced plastic market reached a value of US$ 17.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 26.4 Billion by 2027, exhibiting a CAGR of 6.8% during 2022-2027. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
Request for a sample copy of this report: https://www.imarcgroup.com/carbon-fiber-reinforced-plastic-market/requestsample
The competitive landscape of the industry has also been examined with some of the key players being Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Carbon SE, Teijin Limited., Toray Industries, Inc., etc.
Global CFRP Industry Trends and Drivers:
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.
The report has been segmented the market into following categories:
Market Breakup by Raw Materials:
Market Breakup by Type:
Polyether Ether Ketone
Ask An Analyst – https://www.imarcgroup.com/request?type=report&id=1964&flag=C
Market Breakup by Manufacturing Process:
Pultrusion and Filament Winding
Injection and Compression Moulding
Market Breakup by Application:
Aerospace & Defense
Electrical and Electronics
Market Breakup by Region:
Middle East and Africa
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St
Sheridan, WY 82801
Follow us on twitter: @imarcglobal