CF & CFRP Market Size & Share Envisaged To Reach USD 79.45 Billion by 2030: Global Report by MarketDigits
The Asia Pacific region has seen substantial growth in the wind energy sector. Countries like China, India, and Japan have made significant investments in wind power generation. CF & CFRP materials are crucial for wind turbine blades as they offer high strength and fatigue resistance.
Richmond, Feb. 23, 2024 (GLOBE NEWSWIRE) -- According to MarketDigits, the CF & CFRP Market was valued USD 33.98 Billion in 2023 and projected to reach USD 79.45 Billion by 2030, growing at a CAGR of 12.9% during the forecast period of 2023-2030.
The carbon fiber (CF) and carbon fiber-reinforced polymer (CFRP) market continue to exhibit robust growth globally, fueled by increasing demand across a myriad of industries. CF, known for its exceptional strength-to-weight ratio and corrosion resistance, finds extensive applications in aerospace, automotive, sports equipment, and wind energy sectors. CFRP, reinforced with carbon fibers, further enhances structural integrity and performance, driving its adoption in automotive manufacturing for lightweighting purposes, aerospace for aircraft components, and construction for seismic-resistant structures. The market's growth is propelled by ongoing technological advancements, rising environmental concerns prompting the shift towards lightweight materials, and stringent regulations emphasizing fuel efficiency and emissions reduction. As industries increasingly prioritize sustainability and performance, the CF and CFRP market is poised for sustained expansion, with innovations likely to drive further penetration into diverse end-use sectors.
Major vendors in the global CF & CFRP Market: Teijin Limited, Hexcel Corporation, Hyosung Advanced Materials, Toray Industries Inc., Mitsubishi Chemical Corporation, Solvay, SGL Carbon, Kureha Corporation, Zhongfu Shenying Carbon Co., Ltd. , DowAksa, Jilin Chemical Fiber Group Co., Ltd., Jiangsu Hengshen Co., Ltd. , Others and Others
Explore Our CF & CFRP Market Research: Request a Free Sample Copy of the Report @ https://www.marketdigits.com/request/sample/4194
Growing Aerospace Industry
The burgeoning aerospace industry serves as a primary driver for the carbon fiber (CF) and carbon fiber-reinforced polymer (CFRP) market due to the unparalleled demand for lightweight yet durable materials. CF and CFRP's exceptional properties, including high strength-to-weight ratio, corrosion resistance, and superior performance under extreme conditions, align perfectly with the stringent requirements of aerospace applications. As aircraft manufacturers strive to enhance fuel efficiency, reduce emissions, and increase payload capacity, CF and CFRP offer compelling solutions by significantly reducing the weight of aircraft structures while maintaining structural integrity.
Moreover, the growing preference for composite materials in aircraft design, driven by their ability to optimize aerodynamics and improve fuel economy, further amplifies the demand for CF and CFRP in the aerospace sector. With the aerospace industry poised for sustained growth fueled by increasing air travel demand and technological advancements, the CF and CFRP market are set to witness continuous expansion as they become integral components of next-generation aircraft designs.
Market Dynamics
Drivers:
Rising Demand for Electric Vehicles (EVs)
Growing Demand for Lightweight Materials
Rising Focus on Performance and Durability
Opportunities:
Developing bio-based and recyclable CF & CFRP
Developing next-generation resins
Developing efficient recycling and disposal methods for CF & CFRP
Developing efficient recycling and disposal methods for carbon fiber (CF) and carbon fiber-reinforced polymer (CFRP) materials emerges as a prominent trend within the CF and CFRP market, driven by environmental sustainability imperatives and regulatory pressures. As industries increasingly adopt CF and CFRP for their lightweight and durable properties, the need for effective end-of-life management becomes imperative to mitigate environmental impact and maximize resource utilization. Innovations in recycling technologies are gaining momentum, aiming to recover and repurpose CF and CFRP materials from decommissioned structures and manufacturing waste.
Furthermore, advancements in disposal techniques, such as thermal treatments and pyrolysis, seek to minimize waste generation and reduce the environmental footprint of CF and CFRP production processes. These efforts not only address the growing concerns regarding waste management but also unlock opportunities for circular economy models, fostering a more sustainable trajectory for the CF and CFRP market.
To Know more About the Research Report, Speak With Our Research Analyst @ https://www.marketdigits.com/request/speak-to-analyst/4194
North America dominates the market for CF & CFRP Market.
North America boasts a robust aerospace and defense industry, serving as a major consumer of CFRP materials renowned for their high strength-to-weight ratio, a critical feature for aerospace applications encompassing aircraft components and structures. With the region being home to several leading aircraft manufacturers, the demand for CFRP in this sector remains consistently high. Moreover, the automotive industry in North America is progressively adopting CFRP materials to achieve lightweighting and enhance performance. Offering benefits such as weight reduction, improved fuel efficiency, and heightened safety in vehicle structures, CFRP composites are increasingly integrated into various automobile segments, including high-end sports cars, electric vehicles (EVs), and luxury vehicles. Additionally, North America's dominance in the CF and CFRP market is further bolstered by its advanced research and development facilities, strong regulatory framework supporting aerospace and automotive innovation, and robust infrastructure facilitating the production and supply chain operations for these advanced materials.
Network Security Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Resin Type segment categorized into Thermosetting CFRP and Thermoplastic CFRP. Thermoplastic CFRP has a major share in the CF and CFRP market. Thermoplastic resins, including polyetheretherketone (PEEK), polypropylene (PP), and polyamide (PA), present a spectrum of favorable attributes for CFRP applications. They demonstrate exceptional mechanical strength, toughness, chemical resistance, and thermal stability, collectively enhancing the performance and longevity of CFRP composites. Notably, thermoplastic resins possess a distinct advantage in their capacity to undergo multiple melting and re-melting cycles without significant degradation, facilitating streamlined processing techniques such as melt impregnation, thermoforming, and welding. In contrast to thermosetting resins, which necessitate curing and lack reshaping capabilities post-processing, thermoplastics offer heightened flexibility and simplified fabrication processes.
Segmentations Analysis of CF & CFRP Market: -
By Precursor Type
PAN
Pitch
Rayon
By Source
Virgin CF
Recycled CF
By Resin Type
Thermosetting CFRP
Thermoplastic CFRP
By Manufacturing Process
Lay-up
Compression Molding
Resin Transfer Molding
Filament Winding
Pultrusion
Injection Molding
Others
By End-Use Industry
Aerospace & Defense
Wind Energy
Automotive & Transportation
Sporting Goods
Civil Engineering
Pipes & Tanks
Marine
Medical
Electrical & Electronics
Others
Ask for explicit market estimations also avail 25% discount on Direct Purchase - Click the link to proceed @ https://www.marketdigits.com/checkout/4194?lic=s
CF & CFRP Market Report Gives Answers to Following Key Questions:
What will be the CF & CFRP Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of CF & CFRP Market?
What are the main forces behind the worldwide CF & CFRP Market? Which companies dominate the CF & CFRP Market?
Which companies dominate the CF & CFRP Market? Which business possibilities, dangers, and tactics did they embrace in the market?
What are the main geographic areas for various trades that are anticipated to have astounding expansion over the CF & CFRP Market?
What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in CF & CFRP Market?
What are the dominant revenue-generating regions for CF & CFRP Market, as well as regional growth trends?
By the end of the forecast period, what will the market size and growth rate be?
What are the main CF & CFRP Market trends that are influencing the market's expansion?
Which key product categories dominate the CF & CFRP Market? What are the CF & CFRP Market’s main applications?
In the coming years, which CF & CFRP Market technology will dominate the market?
Explore Exclusive Ongoing Related Reports:
Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Carbon Fiber Prepreg Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Carbon Mold Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Carbon Dioxide Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Diamond-like Carbon Coatings Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
About MarketDigits:
MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that a market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.
We offer services that are most relevant and beneficial to the users, which help businesses to sustain themselves in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.
Contact Us:
MarketDigits
1248 CarMia Way Richmond,
VA 23235,
United States.
USA: +1 847 450 0808
Email: sales@marketdigits.com
Web: https://www.marketdigits.com
Follow Us on: | Twitter | LinkedIn |
