14 August 2017
Visiongain’s new report the Carbon Fibre Reinforced Plastic (CFRP) Composites Market Report 2017-2027: Forecast Data & Outlook By Application (Aerospace (Commercial, Military, Business Jet, Helicopter), Automotive (Interior, Body, Engine & Drivetrain, Other), Energy (Wind Power, Oil & Gas, Fuel Cells, High Pressure Vessels), Construction, Sporting Equipment and Others) By Manufacturing Process (Prepreg Layup, Pultrusion & Winding, Wet Lamination & Infusion, Press & Injection, Others) & By Region Plus Analysis of Top Companies indicates that the global CFRP market will see $33.5bn in spending in 2017.
The lead analyst of the 223 page report said: There is expected to be strong growth of CFRP consumption in automotive, energy and aerospace applications as a result of the higher demand for fuel efficient vehicles and aircraft. The amount of electric and hybrid vehicles manufactured has increased considerably in recent years and this has led to higher usage of CFRP composites in the automotive and fuel cells sectors. Furthermore, the development of the wind power market, offshore drilling and deeper oil gas exploration have contributed to the growth of the CFRP market in the energy sector. Research and development in the aviation industry for development of components which are capable of withstanding high environmental stresses is expected to boost the CFRP market growth during the analysis period.
Additionally, Visiongain anticipates the superior performance per weight of CFRP and environmental regulations to lower CO2 emissions in the EU and the US will continue driving demand for CFRP composites in the next few years. CFRP is highly costly which is expected to hamper the growth of the global market in the near future. In addition to this, lack of manufacturing knowledge is also one of the main restraints of the market today. However, Visiongain expects costs of carbon fibre materials and production to decline slowly in the latter half of the decade, which will see increases in the number of new applications and production volume that will help drive the market through to 2027”
The Carbon Fibre Reinforced Plastic (CFRP) Composites Market Report 2017-2027 report will be of value to anyone who wants to better understand the CFRP market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the composites industry.
Notes for Editors
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