(MENAFN- GlobeNewsWire - Nasdaq) “Carbon Fiber Reinforced Polymer Market” from 2024-2034 with covered segments By Resin Type (Thermosetting Resins, and Thermoplastic Resins), By Carbon Fiber Precursor (Polyacrylonitrile (PAN)-Based CFRP, and Pitch-Based CFRP), By End-User (Aerospace, Automotive, Sports and Leisure, Wind Energy, Construction, and Others), and By Regional Forecast, (2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience.
Covina, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Prophecy Market Insights estimates the global carbon fiber reinforced polymer market size to grow from USD 3.56 Billion in 2024 to USD 7.82 Billion by 2034 , with a compound annual growth rate (CAGR) of 9.0% forecasted for the period.
Carbon Fiber Reinforced Polymer Market Report Overview
Carbon Fiber Reinforced Polymer are composite materials that rely on carbon fiber to provide strength and stiffness while the polymer provides a cohesive matrix to protect and hold the fibers together and provides some toughness. Carbon fibers provide highly directional properties much different than the metals most commonly used for these automotive applications.
They can be engineered to achieve mass reductions not achievable by the metals. Since these are artificially composited materials their properties and performance can be tailored to the application through varying strength, length, directionality, and amount of the reinforcing fibers and in the selection of the polymer matrix.
Download a Free Sample Research Report with Latest Industry Insights:
Our Free Sample Report includes:
Overview & introduction of market study Revenue and CAGR of the market Drivers & Restrains factors of the market Major key players in the market Regional analysis of the market with a detailed graph Detailed segmentation in tabular form of market Recent developments/news of the market Opportunities & Challenges of the Market
Competitive Landscape:
The Carbon Fiber Reinforced Polymer Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
Mitsubishi Chemical Carbon Fiber and Composites, Inc. Toray Industries Hexcel Corporation TEIJIN LIMITED Solvay SGL Carbon Nippon Graphite Fiber Corporation Hyosung Advanced Nikkiso Co Ltd Advanced Composites, Inc. Celanese Corporation DowAksa Advanced Composites Holdings BV Plastic Corporation ZHONGFU SHENYING CARBON FIBER CO. LTD. Formosa M Co., Ltd. Allred & Associates Inc Jiangsu Hengshen Fiber
To Know More on Additional Market Players, Download a Free Sample Report Here:
Analyst View:
Advances in carbon fiber reinforced polymer manufacturing techniques such as improved resin systems and automated production processes are making carbon fiber reinforced polymer more cost-effective and accessible. Innovations in technology are expanding their use in new applications and reducing production costs which further boosts the growth for target market.
Market Dynamics:
Drivers:
Increasing Demand for Lightweight Materials
The push for lighter and more fuel-efficient vehicles in the automotive and aerospace industries drives the demand for a target market. These materials offer significant weight reductions compared to metals which leads to better fuel efficiency and performance.
Request for a Discounted Price on this Report @
Market Trends:
Expansion in Consumer Products
Carbon fiber reinforced polymers are increasingly being used in consumer products beyond traditional high-performance applications. Examples include high-end bicycles, personal electronics, and luxury goods, where their lightweight and strength properties offer significant advantages.
Segmentation:
Carbon Fiber Reinforced Polymer Market is segmented based on Resin type, Carbon fiber precursor, End-User, and Region.
Resin Type Insights
Thermosetting Resins is anticipated to boost the growth for the target market as they offer high strength, rigidity, and thermal stability, which are critical for applications requiring robust performance, such as aerospace, automotive, and sporting goods. These properties make thermosetting resins the preferred choice for high-performance carbon fiber reinforced polymer applications.
Carbon Fiber Precursor Insights
Polyacrylonitrile (PAN)-based CFRP segment is the most dominating and widely used in the target market growth as these CFRPs are known for their excellent mechanical properties, including high tensile strength, stiffness, and durability. These attributes make them suitable for a wide range of demanding applications, from aerospace and automotive to sports equipment and industrial uses.
End-User Insights
Automotive is anticipated to boost the growth for target market as the automotive industry is a significant adopter of CFRPs due to the material's exceptional strength-to-weight ratio. CFRPs are used to reduce vehicle weight, which improves fuel efficiency and performance.
Request a Customized Copy of Report @
Recent Development:
In May 2024, A new PVDF enhanced with carbon fiber for 3D printing will be introduced by Xenia. A leading manufacturer of carbon fiber-reinforced polymers worldwide, Xenia Materials is introducing a new line of PVDF-based compounds for use in pellet-fed 3D printing. When high performance and chemical resistance are needed, this new class of materials offers the advantages of carbon fiber along with exceptional PVDF qualities creating new possibilities for additive manufacturing production.
Regional Insights
North America: There is a growing trend towards lightweight materials in the automotive sector to improve fuel efficiency and vehicle performance. Carbon fibre reinforced polymers are increasingly used in high-performance and luxury vehicles in this region. Asia Pacific: Governments in the region are investing in advanced technologies and infrastructure projects, promoting the use of CFRPs in various applications to enhance performance and sustainability.
Browse Detail Report on "Carbon Fiber Reinforced Polymer Market Size, Share, By Resin Type (Thermosetting Resins, and Thermoplastic Resins), By Carbon Fiber Precursor (Polyacrylonitrile (PAN)-Based CFRP, and Pitch-Based CFRP), By End-User (Aerospace, Automotive, Sports and Leisure, Wind Energy, Construction, and Others), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @
Browse More Research Reports:
Biaxially Oriented Polyethylene Terephthalate (BOPET) Films Market Size, Share Report Nitrile Butadiene Rubber (NBR) Latex Market Size, Share Report Grafted Polyolefins Market Size, Share Report Super Absorbent Polymer Market Size, Share Report Thermoplastic Polyurethane (TPU) Market Size, Share Report
About Us:
Prophecy Market Insights is a specialized market research, analytics, marketing, and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.
Prophecy's expertize area covers products, services, latest trends, developments, market growth factors, and challenges along with market forecast in various business areas such as Healthcare, Pharmaceutical, Biotechnology, Information Technology (IT), Automotive, Industrial, Chemical, Agriculture, Food and Beverage, Energy, and Oil and Gas. We also offer various other services such as, data mining, information management, and revenue enhancement suggestions.
Contact Us:
Prophecy Market Insights
US: 964 E. Badillo Street
#2042 Covina,
CA 91724
US toll-free: +1 860 531 2574
Rest of World: + 91 7775049802
Follow us on LinkedIn | Twitter
MENAFN09092024004107003653ID1108652519
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.