Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 23.4 Billion | USD 44.8 Billion | 7.5% | 2023 |
FrequentlyAsked Questions
Polymer matrix such as epoxy, polyester, or thermoplastic resins encases carbon fibers to form a composite material called carbon fiber reinforced polymer (CFRP).
The growing demand from end-use sectors, including aerospace, ship superstructures, automotive, civil engineering, sports equipment, and others, drives the carbon fiber reinforced polymer market growth.
According to the report, the global carbon fiber reinforced polymer market size was worth around USD 23.4 billion in 2023 and is predicted to grow to around USD 44.8 billion by 2032.
The global Carbon Fiber Reinforced Polymer (CFRP) market is expected to grow at a CAGR of 7.5% during the forecast period.
The global carbon fiber reinforced polymer market growth is expected to be driven by Europe. It is currently the world’s highest revenue-generating market due to the growing trend towards sustainability and increasing product launches.
The global Carbon Fiber Reinforced Polymer (CFRP) market is dominated by players like Solvay, Hexcel Corporation, Formosa M Co. Ltd, Mitsubishi Chemical Corporation, Nippon Graphite Fiber Co. Ltd, SABIC, TEIJIN LIMITED, TORAY INDUSTRIES INC., ALLRed & Associates Inc., Röchling and Nikkiso Co. Ltd among others.
The carbon fiber reinforced polymer market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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