Global Carbon Fiber Reinforced Polymer Market

Posted by ashwini on February 23rd, 2021

Global Carbon Fiber Reinforced Polymer Market is expected to reach USD XX Billion by 2026 from USD 18.83 Billion in 2019 at a CAGR of XX %. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. Increase in demand for lightweight component in automotive industry and high performance products in aerospace & defence drives the carbon fiber reinforced plastic market. Carbon fiber reinforced plastic products offer higher weight saving and thus a better fuel economy than the traditional materials such as steel and aluminum. Aerospace industry has strict performance product requirements for applications in commercial aircrafts, engines, satellites, helicopters, and launchers. High costs the price of carbon fiber reinforced plastic products is approximately 10 times higher than the price of steel counterpart is restraining the market for carbon fiber reinforced plastic . Automobile industry is the fastest growing segment of carbon fiber reinforced plastic market. Increasing demand for lightweight vehicles for increased fuel efficiency and low production cost is one of the key drivers of  carbon fiber reinforced plastic market. Investment in the research and development in the automobile industry is further fueling the demand for carbon fiber reinforced plastic during the forecast period. Growing commercial aviation industry owing to rising international tourism is anticipated to consolidate the growth of carbon fiber reinforced plastic market. Stringent government laws regarding vehicle emissions and advanced mechanical properties of carbon fiber reinforced plastic will also lead to higher market growth worldwide. Europe is domination the cellulose acetate market. Chief manufacturers of wind turbines and accessories are located in Europe, a fact clearly reflected by its consumption of 70% of the carbon fibre used in Europe. North America is the next largest region in this area. Asia Pacific is anticipated to grow at highest CAGR. The objective of the report is to present comprehensive analysis of Global Carbon Fiber Reinforced Polymer market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.