Carbon Fiber Reinforced Polymers (CFRP)
Market
Carbon Fiber Reinforced Polymers (CFRP) Market
Scope: Industry Analysis, Market Size, Growth, Trends Till 2031
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Carbon Fiber Reinforced Polymers (CFRP) Market Size and Growth
The Carbon Fiber Reinforced Polymers (CFRP) market is witnessing significant growth, driven by increasing demand in aerospace, automotive, and construction sectors. As of 2023, the market size is estimated at approximately $30 billion, with expectations to reach $50 billion by 2030, fueled by advancements in technology and sustainability initiatives.
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Companies Covered
(Covid 19 Impact Covered)
◍ SGL Group
◍ Teijin
◍ Tencate
◍ Dowaksa
◍ Formosa Plastics
◍ Hyosung
◍ Toray Industries
◍ Mitsubishi Rayon
◍ Hexcel
◍ Cytec Industries
The CFRP market features companies like SGL Group, Teijin, and Toray Industries, leveraging advanced CFRP applications in aerospace, automotive, and sports industries. These firms innovate in product development, enhance manufacturing processes, and expand market reach, thereby driving growth. Sales revenue from selected companies includes:
- Toray: $20 billion
- Mitsubishi Rayon: $3 billion
- Hexcel: $2.5 billion
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Market Segmentation
By Application
Aerospace and Defense
Wind Energy
Automotive
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By Product
Thermosetting CFRP
Thermoplastic CFRP
Market Growth
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$ X Billion USD
