Report Highlights
Carbon Fiber Reinforced Plastic Market
According to Verified Market Research, Global Carbon Fiber Reinforced Plastic Market was valued at USD 15.3 Billion in 2018 and is projected to reach USD 28.5 Billion by 2026, growing at a CAGR of 8.1% from 2019 to 2026.
Global Carbon Fiber Reinforced Plastic Market Outlook
Growing demand from the automotive and aerospace industry owing to the high strength to weight ratio is anticipated to drive the growth of the market. The growing need for fuel-efficient vehicles coupled with the stringent government regulation for vehicle pollution is fueling the demand for the market. The growing automotive industry in developing countries, increasing industrialization, consumer shift towards environmentally and energy-efficient products are some of the factors that are expected to propel the growth of the market over the forecast period. However, the fluctuation in the price of raw materials, and the high cost of CFRP products are some of the factors that may affect the growth of the market over the forecast period.
Global Carbon Fiber Reinforced Plastic Market Competitive Landscape
The Global Carbon Fiber Reinforced Plastic Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as, Solvay, Formosa Plastics Corporation, Hexcel Corp, Panasonic Healthcare Co., Allred & Associates Inc., Rochling Group, Nikkiso Co. Ltd., Toray Industries Inc., Teijin Limited, and Nippon Graphite Fiber Corp.
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