Lucintel's latest market report analyzed that carbon fiber reinforced plastic (CFRP) provides attractive opportunities in aerospace, automotive, pressure vessel, and wind energy industries. The carbon fiber reinforced plastic (CFRP) market is expected to reach $10.2 billion by 2026 with a CAGR of 6.2%. In this market, aerospace is the largest segment by end use industry, whereas epoxy is largest by resin. 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 provides strategic growth path in this market.
Download Brochure of this report by clicking on https://www.lucintel.com/carbon-fiber-reinforced-plastic-market.aspx Based on end use industry, the carbon fiber reinforced plastic (CFRP) market is segmented into aerospace, automotive, wind energy, marine, sporting goods, construction and pressure vessel. The aerospace segment is expected to register the highest CAGR in 2020 during the forecast period and is expected to register the highest CAGR during the forecast period due to the increasing demand for high performance lightweight materials.
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The Carbon Fiber Reinforced Plastic (CFRP) Market is marked by the presence of several big and small players. Some of the prominent players offering carbon fiber reinforced plastic (CFRP) include GKN Fokker, Mitsubishi, Voith, Hexcel Corporation, SGL Group, Plasan Carbon Composite, DowAksa, and Toray.
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