Press Release
Business

Carbon Fiber Reinforced Plastic Market to Develop Rapidly by 2015 – 2021

Carbon fiber reinforced plastic is a high-strength composite material that is light in weight. This makes it suited for use in several industries including aerospace and defense, wind energy, automobile, sports equipment, marine, civil, and molding. Carbon fiber is also becoming the material of choice for making laptops, tripods, sport racquet frames, and stringent instrument frameworks. Carbon fiber consists of high-strength crystalline filaments of a few microns of carbon atoms. _x005F
_x005F The carbon fiber reinforced plastic market is growing at a significant pace mainly due to its growing demand in industries such as aerospace and automotive. While aerospace is the largest end-user industry for the carbon fiber reinforced plastics market, automotive is growing at the highest pace. Europe and North America are the key markets for carbon fiber reinforced plastics. _x005F
_x005F A growing emphasis on fuel-efficient vehicles and aircrafts in response to increasing oil prices is expected to propel demand in the carbon fiber reinforced plastics market. The expanding market for electric and hybrid vehicles also creates an opportunity for the carbon fiber reinforced plastic market. Moreover, government regulations have also been promoting the use of carbon fiber and carbon fiber reinforced plastic composites. The rising demand for renewable energy such as wind power as well as increased oil and gas exploration activities will further extend the penetration of carbon fiber reinforced plastics._x005F
_x005F Based on type, the carbon fiber reinforced plastics market can be segmented into two categories: Thermosetting and thermoplastic. Based on resin type, thermosetting carbon fiber reinforced plastic can be further segmented into: Epoxy resin, polyester resin and vinyl resin. Thermoplastics carbon fiber reinforced plastic on the other hand, can be segmented into polyether ether ketone (PEEK), polyurethane, polypropylene and others. Thermosetting carbon fiber reinforced plastic is the largest product segment and accounts for over 75% of total sales._x005F
_x005F The key raw materials for carbon fiber reinforced plastics include polycrylonitrile (PAN) and petroleum pitch; both collectively account for approximately 90% of the total raw materials used in manufacturing. High raw material cost is the key restraint for the global carbon fiber reinforced plastics market. _x005F
_x005F North America dominated global sales in the carbon fiber reinforced plastics market in 2014; however, Europe is witnessing 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._x005F
_x005F Most players in the global carbon fiber reinforced plastics market are based in the U.S. and Japan. The key market players include Cytec Industries, Toray Industries, SGL-Group, Hexcel Corporation, Teijin Limited, Mitsubishi Rayon Co. Ltd, Hyosung, Kringlan Composites, and Plasan Carbon Composites._x005F
_x005F Key geographies evaluated in this report are:_x005F _x005F _x005F North America _x005F _x005F U.S_x005F _x005F _x005F Canada_x005F _x005F _x005F Europe _x005F _x005F France, Germany, Italy, Spain, and the UK_x005F _x005F _x005F Eastern Europe_x005F _x005F _x005F CIS_x005F _x005F _x005F APAC _x005F _x005F China_x005F _x005F _x005F India_x005F _x005F _x005F Japan_x005F _x005F _x005F Australia_x005F _x005F _x005F Others_x005F _x005F _x005F Latin America _x005F _x005F Argentina_x005F _x005F _x005F Brazil_x005F _x005F _x005F Others_x005F _x005F _x005F _x005F

ort_x005F _x005F Drivers, restraints, and challenges shaping the Carbon Fiber Reinforced Plastic market dynamics_x005F Latest innovations and key events in the industry_x005F Analysis of business strategies of the top players_x005F Carbon Fiber Reinforced Plastic market estimates and forecasts(2015 -2021)_x005F _x005F _x005F _x005F _x005F _x005F

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