Global CF & CFRP Market size was valued at USD 32.8 Billion in 2022 and the total CF & CFRP revenue is expected to grow at a CAGR of 12.5% from 2023 to 2029, reaching nearly USD 74.81 Billion.
CF & CFRP Market Overview:
This CF & CFRP Market study looks at current and emerging industry trends and dynamics in the global CF & CFRP Market. CF & CFRP Extensive Market forecasting for the major Market segments is carried out between 2021 and 2027. Extensive CF & CFRP Market analysis is carried out by closely monitoring key product positions and the main competitors in the Market framework. To understand the competitive landscape of the worldwide CF & CFRP Market, key players are profiled and their strategies are thoroughly evaluated.
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The analysis contains a current examination of the present CF & CFRP Market landscape, as well as the most recent trends and drivers, as well as an overview of the entire CF & CFRP Market environment. Increased demand for CF & CFRP is driving the Market. The Market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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According to End-Use Industry, the aerospace and defence segment accounted for the greatest revenue share in 2022 and is anticipated to expand at a CAGR of 12.8% throughout the course of the forecast period. Ailerons, trim tabs, and rudders are just a few examples of secondary aircraft components where CF & CFRP composites are frequently used. In addition to having a high strength-to-weight ratio and a high stiffness-to-weight ratio, CFRPs have special mechanical qualities.
The properties of fibres and matrices have been improved as a result of recent technological breakthroughs, which has also improved the overall properties of laminates. This development has made it easier to use CF & CFRPs to fundamental aircraft components like the fuselage and vertical tail. As a result, CF & CFRPs have been adopted more frequently in the aerospace and defence sector.
As a reliable and economical form of renewable energy, wind energy is gaining popularity. Clean energy is produced by turning kinetic energy into electricity using wind turbines, which also helps the market for CF and CFRP expand. In order to address environmental issues, both consumers and governments are adopting renewable energy, and as a result of government assistance and lowering prices of renewable energy production, the industry is expanding significantly. These elements are anticipated to fuel the market for CF & CFRP during the anticipated time frame.
1. Global CF & CFRP Market Size and Forecast, by Precursor Type (2022-2029)
2. Global Market Size and Forecast, by Source (2022-2029)
1. Virgin CF
2. Recycled CF
3. Global Market Size and Forecast, by Resin Type (2022-2029)
1. Thermosetting CFRP
2. Thermoplastic CFRP
4. Global Market Size and Forecast, by Manufacturing Process (2022-2029)
2. Compression Molding
3. Resin Transfer Molding
4. Filament Winding
6. Injection Molding
The Market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide Market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the Market's major influencing factors, as well as complete company profiles of
1. Toray Industries Inc., (Japan)
2. Teijin Limited (Japan)
3. Mitsubishi Chemical Corporation (Japan)
4. Hexcel Corporation (US)
5. Solvay (Belgium)
6. SGL Carbon (Germany)
7. Hyosung Advanced Materials (South Korea)
8. Zhongfu Shenying Carbon Co., Ltd. (China)
9. Kureha Corporation (Japan)
10. DowAksa (Turkey)
11. Jilin Chemical Fiber Group Co., Ltd. (China)
12. Jiangsu Hengshen Co., Ltd. (China)
13. Aeron Composite Pvt. Ltd. (India)
14. BGF Industries (United States)
15. Crosby Composite (United States)
16. Cytec Solvay Group (Belgium)
17. Formosa Plastics Corporation (Taiwan)
18. Gurit Holdings (Switzerland)
19. AG, HC Composite (China)
20. Hindustan Composite (India)
21. Kemrock Industries and Exports Ltd. (India)
22. Nippon Graphite Fiber Corporation (Japan)
23. Park Electrochemical Corporation (United States)
24. Plasan Carbon Composites (United States)
25. Royal DSM (Netherlands)
26. SK Chemicals (South Korea)
Individual Market influencing variables and changes in Market laws that impact present and future Market trends are also included in the regional segment of the Market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate Market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on CF & CFRP Market:
The COVID-19 epidemic has had a significant impact on the global CF & CFRP industry. CF & CFRP Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Market to decelerate in 2020. The negative impact of COVID-19 on the Market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2021, owing to increased demand for CF & CFRP.
Key Questions Answered in the CF & CFRP Market Report are:
- Which segment was responsible for the largest share in the CF & CFRP Market?
- How was the competitive scenario of the Market in 2020?
- Which are the key factors responsible for the Market growth?
- Which region held the maximum share in the CF & CFRP Market in 2020?
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