Containing carbon atoms and known for the strength and light weight, carbon fiber reinforced plastics is of high demand and supply today. The future of the market is expected to grow in multiple applications beyond the current numerous uses of the FRP plastic. Carbon fiber reinforced polymer is basically a material composite, made of two materials i.e. matrix and reinforcement.
With great potential and efficiency projected by IndustryARC, the carbon fiber reinforced plastic market will perfectly make a replacement for the heavy duty machinery material in the near future. The eco-friendly nature, light weight and durability features of this product will continue to drive sales during the forecast period 2016-2021.
Prime End User Industries of FRP Plastic:
Aerospace, Defense, Automobile, Sports equipment and Industrial applications are noted to be the prime platforms for growth scope for the demand of carbon fiber reinforced plastics. Among the rest, automotive and aerospace are the top leading segments according to study with aerospace leading the game currently but the lead is expected to be overtaken by automotive soon; as automotive industry is growing at an extremely rapid rate.
Geographically, the Carbon Fiber Reinforced Plastic Market holds Europe and North America are the key market regions for demand and manufacture of carbon fiber reinforced polymer. In the year 2015, North America dominated global sales in the carbon fiber reinforced plastic market while Europe witnessed the fastest growth rate among all regions. The major European countries in the global carbon fiber reinforced plastics market are Germany, the U.K., France, and Spain. The largest carbon fiber reinforced plastics consumers in Asia Pacific include Japan, China, and Taiwan.
Segmentation of carbon reinforced plastic market:
IndustryARC suggests 3 main types of this market in this research report:
- By Type of Services: Thermosetting and Thermoplastic.
- By Application: Automobile, Industrial, Medical and Others.
- By Geography: Americas, Europe, APAC and ROW.
Thermosetting CFRP accounts over 75% of total sales and makes the largest market segment. While on the other hand, 90% of total raw materials used in manufacturing carbon fiber reinforced plastics is owned by Polyacrylonitrile (PAN) and petroleum pitch; according to IndustryARC market research reports.
Players Outlook of Carbon Reinforced Plastic Market:
U.S. and Japan own a majority of players based out of, in this market. The top prominent industry players as per market research report by IndustryARC include:
- Toray Industries, Inc.
- Nippon Carbon Co. Ltd.
- Mitsubishi Rayon Carbon Fiber and Composites, Inc.
- Formosa Plastics Corp.
- Cytec Solvay Group
- Dowaksa Usa, LLC
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