DUBLIN--(BUSINESS WIRE)--The "CF & CFRP Market by End-Use Industry (A&D, Wind Energy, Automotive, Sports, Civil Engineering, Pipe & Tank, Marine, Medical, E&E), Resin Type (Thermosetting, Thermoplastic), Manufacturing Process, Raw Material, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global market for Carbon Fiber Reinforced Plastic (CFRP), in terms of value, is projected to reach USD 37.19 Billion by 2022, at a CAGR of 10.50% between 2017 and 2022.
Major factors fueling the growth of the CFRP market are increasing use of carbon fiber composites in Boeing and Airbus aircraft, and rise in demand for lightweight vehicles to achieve fuel efficiency and production of electricity from renewables. The major restraint for growth of the CFRP market is high cost of carbon fiber. The price of automotive grade carbon fiber currently ranges between USD 8/lb and USD 15/lb. If this price is decreased to USD 5/lb -USD7/lb, then carbon fiber can be used for mass production of automobiles.
Carbon fiber composites are being used to manufacture lightweight cars for good performance and luxury at economical price. Several key market players are responding to the needs and expectations of vehicle Original Equipment Manufacturers (OEMs), system suppliers, and customers.
The key driver for growth of the market for carbon fiber composites is the increasing need for lighter, safer, cleaner, and more cost-effective vehicles. Most common automotive components where carbon fiber composites are used are exterior body parts, hoods, bonnets, and test plates. Additionally, several car companies, such as BMW (Germany), Audi (Germany), and GM (U.S.) have signed agreements with carbon fiber composite manufacturers to support low-cost carbon fiber composites manufacturing.
Europe is the fastest-growing market for CFRP, in terms of value and volume. High economic growth rate, rise in the number of manufacturing industries, increasing carbon fiber composites patents, new product developments, capacity expansions, and new plant establishments by various leading players are factors fueling the growth of the CFRP market in the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview And Key Trends
7 Cf Market, By Raw Material Type
8 CFRP Market, By Resin Type
9 CFRP Market, By Manufacturing Process
10 CFRP Market, By End-Use Industry
11 CFRP Market, By Region
12 Competitive Landscape
13 Company Profiles
- Aeron Composite Pvt. Ltd.
- BGF Industries
- Crosby Composites
- Cytec Solvay Group
- Formosa Plastics Corporation
- Gurit Holdings Ag
- Hc Composite
- Hexcel Corporation
- Hindoostan Composite Solutions
- Kemrock Industries And Exports Ltd.
- Mitsubishi Chemical Holdings Corporation
- Nippon Graphite Fiber Corporation
- Park Electrochemical Corporation
- Plasan Carbon Composites
- Royal Dsm
- Sgl Group
- Sigmatex Limited
- SK Chemicals
- Taekwang Industrial Co. Ltd.
- Teijin Limited
- Toray Industries Inc.
- Zhongao Carbon
For more information about this report visit https://www.researchandmarkets.com/research/rh39bw/cf_and_cfrp