- The key vendors in the global CFRP market 2015-2019 are Formosa Plastics, Hexcel, Mitsubishi Rayon, SGL Group, Toho Tenax, Toray Industries, and Zoltek.
London, 14 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global CFRP market 2015-2019. The recent popularity of electric and hybrid vehicles is a critical trend observed in this market. Carbon fiber reinforced plastic (CFRP) is used to balance the heavy engines and motors used in the car body. They are lightweight and are useful in the production of high-performance vehicle components such as chassis, hoods, wheels, and roofs. This market is expected to grow at a CAGR of 13.07% during the forecast period of 2014-2019.
The rising demand from the aerospace and wind turbine sectors propel growth in this market. Aircraft manufacturers use carbon fiber for fuselages and components to decrease fuel consumption as they are relatively lightweight. Factors such as resistance to solvents, corrosives and high temperature, and high durability foster the prospects of growth in the global CFRP market. Additionally, growth in the long-fiber thermoplastic market will boost the overall growth prospects of the global CFRP market.
“Fluctuation in petrol prices and public incentives drive market growth. The production of commercial wind turbines is growing many times over. CFRP is used in the manufacture of wind turbine blades as it is lightweight, stiff, and corrosion resistant. These turbines are large and powerful and require minimal maintenance,” says Faisal Ghaus, Vice President of Technavio Research.
“These turbines are mainly made from polyester or epoxy composite reinforced carbon fibers. CFRP materials are resistant to solvents, corrosives, and high temperature and have good fatigue strength, tailored elasticity, and excellent finishing.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
