According to a recent published report, the Global Carbon Fiber Reinforced Plastic Market is expected to grow at the CAGR of 9.5% during 2015-2022 and it estimated to be $3.95 billion by 2022. The Global Carbon Fiber Reinforced Plastic market is segmented on the basis of origin, type, industry applications and geography. The report on Global Carbon Fiber Reinforced Plastic market forecast 2015-2022 provides detailed overview and predictive analysis of the market.
The high demand of Carbon Fiber Reinforced Plastic in wind turbine and aerospace industries fuel the growth of Carbon Fiber Reinforced Plastic market globally. In manufacturing of aircraft, carbon fibers are used widely as it reduced the aircraft weight and provide better fuel efficiency. Carbon Fiber Reinforced Plastic is significantly used in manufacturing lightweight aircraft blades, which are commonly used in airbus A340 and A380, Bombardier C series and Boeing 787.
In terms of volumes, the market shipped 85 kilotons worth of CFRP material in 2014 and its demand is rising in all industries that require lightweight and resistant products. The EMEA region dominates the market with close to 50% of the market share, and the Americas region closely follows. Notably, the APAC region accounts for approximately 86% of CFRP market’s application for sports and leisure end-use. This study predicts CFRP to substitute metals such as aluminum and steel in many sectors during the forecasted period.
Full report available Global Carbon Fiber Reinforced Plastic Market Forecast 2015-2022 report at http://briskinsights.com/report/carbon-fiber-reinforced-plastic-market
The key players in the global Carbon Fiber Reinforced Plastic market include Cytec industries, SGL group, Toray Industries, Teijin Ltd, Hyosung, Hexcel Corporation, Mitsubishi Rayon Co Ltd, Kringlan Composites, Plasan Carbon Composites, Gurit Holding AG, Formosa Plastics Corporation, Toho Tenax And so on. Innovation is the key strategy adopted in the Carbon Fiber Reinforced Plastic market.
Release ID: 788