Global Carbon Fiber Reinforced Polymer Market Scope-
Market Research Future (MRFR) studied the global carbon fiber reinforced polymer market over the assessment period till 2030. Over the review period (from 2021 to 2030), the carbon fibre reinforced polymer market is expected to rise a healthy CAGR. The market of carbon reinforced polymer is likely to acquire considerable.
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Carbon Fiber Reinforced Polymer Market - Prominent Players Analysis:
The key players in market includes 3M, Aciturri, Bassara, Caproni, Dow Chemical Dr. Schnabel GmbH & Co.KG, DuPont, Nissan, Bombardier, and Gurit.
Market Drivers and Restrains-
The surge in the demand for carbon fiber reinforced polymer market in the aerospace industry is expected to be the growth inducer to underpin the market growth in the near future. The surge in the demand for Carbon Fiber Reinforced Polymer (CFRP) in the automotive sector is also expected to impact the market owing to the surge in demand for fuel-efficient cars among people. Moreover, government enforcing regulations to curb vehicular pollution is expected to drive the demand for light-weight, fuel efficient cars, which, in turn, can add momentum to the CFRP market.
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Recent Development -
September 2021: With a USD 595,000 funding from the US Office of Naval Research, Penn State College of Engineering researchers teamed up to develop a new, low-cost CFRP manufacturing technology. Manufacturers currently use heat and pressure to mold CFRP into a particular shape in order to produce CFRP airplane parts. This is done in a chamber known as an autoclave, which may occasionally hold a full wing or fuselage. A liquid plastic and stacked sheets of carbon fiber are mixed and cured in a vacuum bag in the novel method. Carbon fibers give the plastic its strength and solidity. The researchers will also look at incorporating carbon nanotubes into the polymer mix before it fuses with the fibers in order to reinforce and electrically conduct the polymers. According to researchers, commercial airlines are very interested in the novel, lightweight material since it will minimize fuel use. Planes could expand their cargo weight allowances and transport more passengers and commodities if they had less fuel to carry.
Segment Study of Carbon Fiber Reinforced Polymer Market-
The segment study of the global carbon fiber reinforced polymer market are application and production process.
The application-based segments of the fiber reinforced polymer market are construction, industrial, electrical isolation, and marine among others.
The production process-based segments of the carbon fiber reinforced polymer market are Petroleum Pitch Precursor and Polyacrylonitrile (PAN) Precursor.
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Regional Analysis -
The segmentation of the global Carbon Fiber Reinforced Polymer Market comprises regions like Asia-Pacific, North America, Europe, and Rest of the World.
Globally, Asia-Pacific bears the dominant position in the Carbon Fiber Reinforced Polymer Market both in relation to the volume and value. The market is expected to continue with its rise in the forthcoming years at the same rate. Due to reasons such as rapid industrialization, low cost attached to labor and raw materials, and the high manufacturing rate of Chlor-Alkali products, China is the major revenue generating nation in the Asia-Pacific region.
North America and Europe stand in the second and third position, respectively, owing to the low production level of Chlor-Alkali products as compared to other developing economies.
Study Objectives of Carbon Fiber Reinforced Polymer Market is to Provide Following Benefits
- Provides detail about global carbon fiber reinforced polymer market by application, by production process and by region in forecasted period i.e. till 2022.
- Identifies the market dynamics of carbon fiber reinforced polymer market dynamics by drivers, restrains, opportunities and challenges.
- Analyzes various factors like value chain analysis and Porters five Forces model.
- Gives past and estimated future revenue of market segment with respect to APAC, North America, Europe, and other parts of the world.
- Gives strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- Tracks mergers and acquisitions, strategic alliances, new product development of each applicant of the carbon fiber reinforced polymer
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Fiber Reinforced Polymer (FRP) Composites Market is estimated to reach USD 282.9 billion by 2025.
The key features associated with fiber reinforced polymer products including flexibility, strength, low cost, and conductivity are estimated to drive the market growth in the upcoming period.The factors that propel the growth of the FRP Composites Market comprise the low cost of FRP composite, increasing production capacity of FRP composite, and growth in the automotive sector.
Fiber Reinforced Polymer (FRP) Composites Market is anticipated to grow at a significant CAGR of 10.7% in the upcoming period as the scope, product types, and its applications are increasing across the globe.Download Free Sample Report @ https://www.millioninsights.com/industry-reports/fiber-reinforced-polymer-frp-composites-market/request-sampleFiber Reinforced Polymer (FRP) Composites Market may be explored by type, application, and geography.
The market may be explored by type as Carbon Fiber Reinforced Polymer (CFRP) Composites, Glass Fiber Reinforced Polymer (GFRP) Composites, Aramid Fiber Reinforced Polymer (AFRP) Composites, Basalt Fiber Reinforced Polymer (BFRP) Composites, and Others.
The “Glass Fiber Reinforced Polymer (GFRP) Composites” segment dominated the Fiber Reinforced Polymer Composites Market in 2016 and is anticipated to maintain its dominance in the forecast period.The market may be explored by application as Construction, Automotive, Defense, Electronic, and Others.
The factors that could be attributed to the growth include easy availability of raw materials, increased demand from recreational vehicles, new plant establishment, increasing manufacturing industries, low labor costs, new product developments.
