Carbon Fiber Reinforced Polymer Market
Carbon Fiber Reinforced Polymer Market Overview:
Globally, carbon fiber reinforced polymer has increased its market growth in recent years and is expected to grow at a rapid pace in the forecasted period. Fiber reinforced polymer composites are made by combining a plastic polymer resin together with strong reinforcing fibers. Here components retain their original form and contribute their own unique properties that result in a new composite material with enhanced overall performance. Reinforcing polymer material with fibers improves their strength and stiffness. The polymer resin is typically viscous and may be easily molded but is relatively weak. The resin component protects against abrasion or chemical attack to the material surface and acts as a binder for the reinforcing fibers, which mechanically supports and transfer loads in the composite.
Carbon Fiber Reinforced Polymer Market Synopsis:
In 2012, United States carbon fiber manufacturers had a total nameplate capacity of 53.2 Million pounds representing about 28% of global production capacity. Two general manufacturing methods for carbon fibers have been commercialized to date. The first involves production of carbon fibers from a polyacrylonitrile (PAN) precursor, while the second method involves the conversion of a petroleum pitch precursor. The PAN process so far has been the most common method used, accounting for approximately 95% of U.S. production capacity. According to MRFR analysis the PAN process was considered as the current typical and state-of-the-art manufacturing method for carbon fibers.
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Carbon Fiber Reinforced Polymer Market Key Players:
Profiled in MRFR Analysis some of the key players in market include: 3M, Aciturri, Bassara, Caproni, Dow Chemical, Dr. Schnabel GmbH & Co. KG, DuPont, Nissan, Bombardier, and Gurit.
Carbon Fiber Reinforced Polymer Market appears highly competitive. This competition will further get intensified with the high investments estimated to transpire during the forecast period. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the CERP market.
Carbon Fiber Reinforced Polymer Market Segmentation:
Carbon Fiber Reinforced Polymer Market is majorly segmented on the basis of Application, and production process. Based on the application the market is segmented Construction, Electrical Isolation, Industrial, Marine and Others. On basis of production process, the market is segmented into Polyacrylonitrile (PAN) Precursor and Petroleum Pitch Precursor.
Carbon Fiber Reinforced Polymer Market Application:
Carbon fiber reinforced polymer market size was valued at USD Million in 2017. High-strength, lightweight FRP composites of carbon fiber allows it to be highly utilized in aerospace and defence systems. In recent years along with being used in the above-mentioned industry and sector it is also been used in luxury automobiles, wind turbines and compressed gas storage tanks. Lightweight, strong and stiff materials together offer attractive properties in manufactured products. Lightweight materials save significant energy during transportation, moreover ‘light weighting’ is a key strategy used in achieving national energy goals. Furthermore, the strength and durability of structural properties where FRP composites are used increases the strength and durability of industrial equipment, buildings and other infrastructure where these are used.
The key aircraft manufacturers such as Airbus in addition to defence equipment manufacturers such as MBDA, has triggered CFRP composite demand in Europe leading to the growth of Global CFRP market. Additionally, automotive giants such as Volkswagen, Mercedes, Ferrari, BMW and Audi emphasis on low weight high-performance cars which has provided impetus to the market growth of Carbon Fiber Reinforced Polymer. Moreover, stringent regulations in addition to the proactive efforts initiated from European automotive manufacturers are expected to fuel the growth of CFRP market over the forecast period. Stringent regulations imposed on increase fuel efficiency in Europe, and the U.S. has forced manufacturers to focus on automotive weight reduction which has impacted the market growth positively.
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Carbon Fiber Reinforced Polymer Market Regional Analysis:
North America is expected to maintain its dominance in the global market owing to increasing domestic demand for carbon fiber reinforced polymer by the chemical industry. Emerging markets of China, Japan and India are expected to boost the Asia Pacific carbon fiber reinforced polymer market. Other emerging markets are the European and Middle East countries. North America has the largest market share for global carbon fiber reinforced polymer, followed by Europe and other parts of the world.
Taste the market data and market information presented through more than 50 market data tables and figures spread over 85 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Carbon Fiber Reinforced Polymer Research Report –Global Forecast to 2022.
Carbon Fiber Reinforced Polymer Market Table of Content to be Continue…….,
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