Opportunities for the global CFRP market to reach $32.0 billion by 2024 -USD 0

Publish Date: 25-03-2020 12:36:19 | Contact name: Lucintel LLC | Location: USA | Place: Lucintel, 8951 Cypress Waters Blvd., Suite 160, Dallas, TX 75019 | 1 times displayed |



According to a new market report published by Lucintel, the
future of the carbon fiber reinforced plastic (CFRP) market looks
attractive with opportunities in the automotive, pressure vessel, and wind
energy industries. The global CFRP market is expected to reach an estimated
$32.0 billion by 2024 with a CAGR of 4.3% from 2019 to 2024. The major
drivers for this market are growing demand for high
performance and lightweight composite materials and increasing performance
requirements in the various end use industries.



In this market, aerospace
will remain the largest end use industry by value. Automotive is expected to
witness the highest growth over the forecast period due to the increasing
demand for high performance lightweight materials.



Within this market, epoxy, phenolic, vinylester, polyester, PEEK, PPS, PEI,
and PA are the major resin systems used for manufacturing CFRP products. Epoxy
based CFRP will remain the largest segment by value and volume and PPS is
expected to witness the highest growth over the forecasted period.



By process, prepreg
layup, RTM, compression molding, injection molding, filament winding and
pultrusion are the major CFRP manufacturing process. Prepreg layup
will
remain the largest segment by value and volume and RTM is expected to witness
the highest growth over the forecast period.



North America will remain the largest region by value and
volume due to the growth in automotive and aerospace industries in the US and
government regulations on energy efficient product with less CO2 emission.
APAC is expected to witness the highest growth over the forecast period.



Emerging trends, which have a direct impact on the dynamics
of the industry, include the development of technologies to reduce the
manufacturing costs of carbon fiber as well as part fabrication and
reuse of CFRP is another emerging trend as it recycled carbon fiber reduces
cost of product and environmental impact.



Toray Industries Inc., Mitsubishi Rayon
Corporation, Teijin Limited, Hexcel Corporation, SGL Group, and Cytec Solvay
Group are among the major CFRP
manufacturers



Lucintel, a leading global strategic consulting
and market research firm, has analyzed
growth opportunities in the global CFRP market by end
use industry, process type, resin type, and region. Lucintel has
prepared a comprehensive research report entitled “Growth
Opportunities in the Global CFRP Market 2019-2024: Trends, Forecast, and
Opportunity Analysis
”. The Lucintel report serves
as a catalyst for growth strategy as it provides comprehensive data and
analysis on trends, key drivers, and directions. The study includes a forecast
for the global CFRP as follows:



By End Use Industry [Volume (M lbs)
and $M shipment analysis for 2013 – 2024]:



· Aerospace



· Automotive



· Wind
Energy



· Marine



· Sporting
Goods



· Construction



· Pressure
Vessel



· Others



By Process Type [Volume (M lbs) and
$M shipment analysis for 2013 – 2024]:



· Prepreg
Layup



· RTM



· Injection
Molding



· Compression
Molding



· Filament
Winding



· Pultrusion




  • Others



By Resin Type [Volume (M lbs) and $M
shipment analysis for 2013 – 2024]:



· Epoxy



· Phenolic



· Polyester



· Vinylester



· PEEK



· PPS



· PEI



· PA




  • Others



By Region [Volume (M lbs) and $M
shipment analysis for 2013 – 2024]:



· North
America



· Europe



· Asia
Pacific



· Rest of the
World





This 312-page research report will
enable you to make confident business decisions in this globally competitive
marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include advanced
materials reports
, composite
materials market report
, strategic
growth consulting
, market research
due diligence
and business
strategy consulting
.







About
Lucintel



Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.



This report answers following 11 key
questions:





Q.1 What are some of the most
promising potential, high-growth opportunities for the global CFRP market by
end use industry (aerospace, automotive, wind energy, marine, sporting goods,
construction and pressure vessel), by process type, by resin type and region
(North America, Europe, Asia Pacific and the Rest of the World)?



Q.2 Which segments will grow at a
faster pace and why?



Q.3 Which regions will grow at a
faster pace and why?



Q.4 What are the key factors
affecting market dynamics? What are the drivers and challenges of the market?



Q.5 What are the business risks and
threats to the market?



Q.6 What are emerging trends in this
market and the reasons behind them?



Q.7 What are some changing demands
of customers in the market?



Q.8 What are the new developments in
the market? Which companies are leading these developments?



Q.9 Who are the major players in
this market? What strategic initiatives are being implemented by key players
for business growth?



Q.10 What are some of the
competitive products and processes in this area and how big of a threat do they
pose for loss of market share via material or product substitution?



Q.11 What M & A activities have
taken place in the last 5 years in this market?



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