Carbon Fibre Reinforced Plastics Market Report 2023 (Global Edition)

Global Carbon Fibre Reinforced Plastics Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Carbon Fibre Reinforced Plastics Industry growth. Carbon Fibre Reinforced Plastics market has been segmented with the help of its Type, Application Raw Material, and others. Carbon Fibre Reinforced Plastics market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

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Carbon fiber reinforced plastics Market Segmentation Analysis

Carbon fiber reinforced plastics Market Type Analysis

Based on types, the Thermoplastic CFRP segment dominates the growth of the market due to the benefits associated with the products. Thermoset CFRP are suited for applications that must survive high-impact, high-demand situations. They offer outstanding endurance, and structural integrity, and can surpass metal materials in many contexts since their physical and chemical characteristics are fixed after initial heat exposure.

• Thermosetting CFRP
• Thermoplastic CFRP

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Carbon fiber reinforced plastics Market Application Analysis

Based on application, the Aerospace segment holds a high market share for the carbon fiber-reinforced plastics market. This is attributed to the rising aerospace R & D activities. Rising usage of CRFP in planes, helicopters, space shuttles, etc.

• Automotive
• Sports Goods
• Wind Turbines
• Building & Construction
• Military & Defence
• Aerospace
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Carbon Fibre Reinforced Plastics market report 2023 Edition by contacting our team.

Carbon Fibre Reinforced Plastics Raw Material Segment Analysis

Based on raw material, the Polyacrylonitrile segment leads the carbon fiber-reinforced plastics market. Polyacrylonitrile is a white powder that is solid. It is robust and rigid, as well as chemical and solvent resistant.

• Petroleum Pitch
• Polyacrylonitrile (PAN)
• Others

Asia Pacific dominates the carbon fiber-reinforced plastics market

Geographically, the global carbon fiber reinforced plastics market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. Asia Pacific dominates the carbon fiber-reinforced plastics market because of expanding automotive industry. Specifically, in China, the automotive industry is expanding at a rapid pace. This promotes regional growth. Similarly, according to new research from the International Renewable Energy Agency (IRENA), Asia's share of installed capacity for onshore wind might increase from 230 Gigawatts (GW) in 2018 to over 2600 GW by 2050. By that time, the area would have become a worldwide wind leader, accounting for more than half of all onshore and more than 60% of all offshore wind capacity added globally.

Region-wise, the market is analyzed across: (In case you wish to acquire a specific region or any country data then please contact us)

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

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Carbon fiber reinforced plastics market recent news

In January 2023, Asahi Kasei created a novel technique for recovering carbon fibre plastic composites in association with the National Institute of Technology, Kitakyushu College, and Tokyo University of Science. CFRPs are costly and difficult to recycle as the removal process of the carbon fibers from resin is difficult after use. Asahi Kasei, in partnership with National Institute of Technology at Kitakyushu College and the Tokyo University of Science, has researched a recycling method for removing carbon fibres from CFRP or carbon fibre reinforced thermoplastics (CFRTP) used in vehicles. As a result, high-quality, low-cost continuous carbon fibre may be recycled indefinitely, contributing to the circular economy.

Top Companies Market Share in Carbon Fibre Reinforced Plastics Industry: (In no particular order of Rank)

• Hexcel
• Toray
• Cytec
• Teijin
• TenCate
• Mitsubishi rayon
• SGL Carbon
• TenCate
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