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.
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.
Geographically, Asia Pacific has dominated the market for global carbon fiber reinforced polymer market with the largest market share, followed by North America and Europe which are the growing market for global carbon fiber reinforced polymer market and is expected to grow at the CAGR of XX% respectively from 2018 to 2022.
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Market Product Description:
Globally, carbon fiber reinforced polymer has increased its market growth in recent years and this market 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 their own unique properties which results in a new composite material with heightened overall performance. Reinforcing polymer material with fibers further improves the strength and stiffness of carbon fibers. The polymer resin is typically viscous and may be easily molded but is relatively weak. The resin component protects it against abrasion or chemical attack and these acts as a binder in the reinforcing fibers, which mechanically support and transfer loads in the composite.
Carbon fiber reinforced polymer is anticipated to be XX tones by 2019, and growing at CAGR of XX % . Europe and North America leads the world with respect to the demand of carbon fiber reinforced polymer. Demand for this in North America is same as demand for the same in Europe and these exceeds the demand rate when compared to both Asia and Japan. Excess manufacturing capacity exists currently, especially in small-two capacity and in North America and Asia, but as per recent analysis done a significant demand growth has been suggested in two markets namely automotive and wind applications for meeting the demand. This creates a potential export opportunity for North American manufacturers.
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
The Global 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.
Market Key Players:
- Albemarle Corporation,
- ICL (Israel Chemicals Ltd.),
- Chemtura Corporation,
- Clariant International Ltd.,
- Nabaltec AG,
- The DOW Chemical Company,
- BASF SE¸
- Chemtura Corporation,
- Akzo Nobel and Italmatch Chemicals,
- Lanxess AG.
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