Carbon Fiber Reinforced Polymer Market Witness a thriving growth by 2022
Posted by Moin Patni on March 27th, 2019
Carbon Fiber Reinforced Polymer Market Overview:
Carbon Fiber Reinforced Polymer has increased its market growth in recent years and is expected to grow at a rapid pace in the forecasted period. The global market of CFRP is forecasted to witness a thriving growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2018 – 2022).
Carbon fiber reinforced polymer market size was valued at USD Million in 2018. High-strength, lightweight FRP composites of carbon fiber allows it to be highly utilized in aerospace and defence systems. In recent years along with being used in the above-mentioned industry and sector it is also been used in luxury automobiles, wind turbines and compressed gas storage tanks. Lightweight, strong and stiff materials together offer attractive properties in manufactured products. Lightweight materials save significant energy during transportation, moreover ‘light weighting’ is a key strategy used in achieving national energy goals. Furthermore, the strength and durability of structural properties where FRP composites are used increases the strength and durability of industrial equipment, buildings and other infrastructure where these are used.
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In 2012, United States carbon fiber manufacturers had a total nameplate capacity of 53.2 million pounds representing about 28% of global production capacity. Two general manufacturing methods for carbon fibers have been commercialized to date. The first involves production of carbon fibers from a polyacrylonitrile (PAN) precursor, while the second method involves the conversion of a petroleum pitch precursor. The PAN process so far has been the most common method used, accounting for approximately 95% of U.S. production capacity. According to MRFR analysis the PAN process was considered as the current typical and state-of-the-art manufacturing method for carbon fibers.
Carbon Fiber Reinforced Polymer Market Key Players:
Carbon Fiber Reinforced Polymer Market appears highly competitive. This competition will further get intensified with the high investments estimated to transpire during the forecast period. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the CERP market.
Profiled in MRFR Analysis some of the key players in market include 3M, Aciturri, Bassara, Caproni, Dow Chemical, Dr. Schnabel GmbH & Co. KG, DuPont, Nissan, Bombardier, and Gurit.
Carbon Fiber Reinforced Polymer Market Segmentation:
Carbon Fiber Reinforced Polymer Market is majorly segmented on the basis of Application, and production process. Based on the application the market is segmented Construction, Electrical Isolation, Industrial, Marine and Others. On basis of production process, the market is segmented into Polyacrylonitrile (PAN) Precursor and Petroleum Pitch Precursor.
Carbon fiber reinforced polymers offer weight and performance benefits that are driving demand for them. As the demand for these products will increase in several market sectors, this report addresses supply and demand issues as well as factors that have affected and can affect future U.S. competitiveness in the CF and CFRP supply chain.
Carbon Fiber Reinforced Polymer Market Regional Analysis:
North America is expected to maintain its dominance in the global market owing to increasing domestic demand for carbon fiber reinforced polymer by the chemical industry. Emerging markets of China, Japan and India are expected to boost the Asia Pacific carbon fiber reinforced polymer market. Other emerging markets are the European and Middle East countries. North America has the largest market share for global carbon fiber reinforced polymer, followed by Europe and other parts of the world.
Taste the market data and market information presented through more than 50 market data tables and figures spread over 85 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Carbon Fiber Reinforced Polymer Research Report –Global Forecast to 2022.
Carbon Fiber Reinforced Polymer Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Carbon Fiber Reinforced Polymer Market
Carbon Fiber Reinforced Polymer Market Table of Content to be Continue…….,
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About the AuthorMoin Patni
Joined: February 20th, 2018
Articles Posted: 412
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