CFRP is presently gaining traction across the aerospace industry as it reduces fuel consumption. This can also be attributed to the rising environmental concerns across the globe. These plastics are used in the manufacturing of laptops, tripods, fishing rods, racquet frames, stringed instrument bodies and golf clubs. Additionally, on account of its several benefits, CFRP is employed as an alternative to steel in the production of cable structures. Other than this, it is also utilized in the healthcare industry for manufacturing various medical instruments. Thus, the expanding applications of CFRP are expected to create a positive outlook for the market in the coming years.
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Insights on Market Segmentation:
Market Breakup by Raw Materials:
- Polyacrylonitrile
- Pitch-based
- Rayon-based
- Thermoset
- Epoxy Resin
- Polyester Resin
- Vinyl Resin
- Thermoplastic
- Polyurethane
- Polyether Ether Ketone
- Polyethersulfone
- Layup
- Pultrusion and Filament Winding
- Resin Transfer
- Injection and Compression Moulding
- Others
- Aerospace & Defense
- Automotive
- Wind Energy
- Civil Engineering
- Sporting Goods
- Electrical and Electronics
- Marine Applications
- Others
Market Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Carbon SE, Teijin Limited., Toray Industries, Inc., etc.
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