CF & CFRP Market by Source, Precursor, Resin, Manufacturing Process, End-use Industry, and Region – Global Forecast to 2025 – Yahoo Finance

Dublin, Oct. 12, 2020 (GLOBE NEWSWIRE) -- The "CF & CFRP Market by Source (Virgin, Recycled), Precursor (PAN, Pitch, Rayon), Resin (Thermosetting, Thermoplastic), Manufacturing Process, End-use Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global CF & CFRP market size is projected to grow from USD 17.5 billion in 2020 to USD 31.5 billion by 2025, at a CAGR of 12.4%

The CF & CFRP materials offer exceptional properties, such as low weight, stiffness, strength, tenacity, density, thermal & electrical conductivity, fatigue, and corrosion resistance. Owing to these outstanding properties, conventional materials, such as aluminum and steel, are less preferred in high-performance applications in various end-use industries, including aerospace & defense, wind energy, sporting goods, and among others. However, the global pandemic disease COVID-19 has forced the composite component manufacturers to shut down their operations partially, which is expected to decrease the demand for CF & CFRP in 2020.

The virgin carbon fiber segment of Carbon Fiber to be the fastest-growing segment.

The carbon fiber based on the source is segmented into virgin carbon fiber and recycled carbon fiber. Virgin is made from precursors such as PAN and pitch. These fibers find applications in various aerospace & defense, wind energy, sporting goods, and other industries. Virgin carbon fiber offers better thermal and mechanical properties than recycled carbon fiber. They are preferred over recycled carbon fiber in high-end aerospace applications.

PAN carbon fiber to be the faster-growing precursor type, in terms of value.

C PAN-based carbon fiber is a type of fiber produced by the carbonization of PAN precursor. Having high tensile strength and high elastic modulus, it is extensively used for structural material composites in aerospace & defense, automotive, and sporting goods industries. These properties are driving the use of PAN carbon fiber in various end-use industries.

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Owing to the COVID-19 pandemic, the new aircraft deliveries and wind energy installations are expected to reduce in 2020, which will result in reduced demand for PAN carbon fiber from these industries. The demand is expected to recover after 2020.

The thermoplastic segment to be the fastest-growing resin type, in terms of value, in the CF & CFRP market.

The application of thermoplastic polymer as a matrix material in CFRP composites has grown significantly in recent years. The thermoplastic resin is used with continuous fiber to create structural composite products. The main advantage of thermoplastic resin as matrix material is that, unlike thermoset resin, the composite formed can be reshaped and reformed. The composite formed is also easily recyclable. These factors are expected to drive the thermoplastic resin in the CFRP market during the forecast period.

The filament winding to be the fastest-growing manufacturing process, in terms of value, in the CF & CFRP market.

The filament winding process produces hollow or circular components such as compressed air tanks, high-pressure CO2 tanks & bottles, water softener systems, rescue air tanks, sailboat masts, CNG tanks, light poles, and other construction materials. This automated process is used to make highly engineered structures. The increased demand for CFRP from CNG and CHG tanks applications is expected to drive the filament winding CFRP market during the forecast period.

The COVID-19 pandemic has reduced the demand for CFRP tanks. Due to the lockdown situation, the demand for CFRP tanks has reduced from the gas transportation industry. The demand is expected to recover after the pandemic situation.

APAC is projected to be the fastest-growing CF & CFRP industry.

APAC is projected to be the fastest-growing CF & CFRP market during the forecast period. The region comprises countries such as Japan, China, South Korea, and Taiwan, having significant potential owing to the presence of established raw material suppliers, product manufacturers, and increasing new aircraft deliveries and wind energy installations in the region. There is a high demand for CF & CFRP from the wind energy, sporting goods, and aerospace industry in the region.

However, COVID-19 has negatively affected these industries in the APAC region. Japan, China, and Malaysia provide various components to aircraft manufacturers; China is the world's largest wind energy installer. The COVID-19 pandemic has resulted in less demand for the new aircraft and less wind energy installations, which are expected to reduce composite consumption in these countries in 2020.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 Attractive Opportunities in the CF & CFRP Market4.2 CFRP Market, by End-Use Industry and Region, 20194.3 Carbon Fiber Market, by Source4.4 Carbon Fiber Market, by Precursor Type4.5 CFRP Market, by Resin Type4.6 CFRP Market, by Manufacturing Process4.7 CFRP Market, by End-Use Industry4.8 CFRP Market, by Key Countries

5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Government Stimulus Packages for Aerospace and Other Industries for COVID-19 Crisis5.2.1.2 Increase in Demand for Fuel-Efficient Vehicles5.2.1.3 Increasing Demand from Wind Energy Industry5.2.2 Restraints5.2.2.1 Decrease in Number of Commercial Aircraft Deliveries5.2.2.2 Disruption in Supply Chain and Lower Production Capacity Utilization due to COVID-19 Pandemic5.2.2.3 High Cost of Carbon Fiber5.2.3 Opportunities5.2.3.1 Reduction in the Cost of Carbon Fiber5.2.3.2 Potential Opportunities in New Applications5.2.3.3 Growing Demand from Emerging Markets5.2.4 Challenges5.2.4.1 Maintaining Uninterrupted Supply Chain and Operating at Full Capacity5.2.4.2 Liquidity Crunch5.2.4.3 Development of Technology to Reduce Cycle Time5.3 Porter's Five Forces Analysis5.4 Value Chain Analysis5.5 Value Chain Analysis and Impact of COVID-195.6 Pricing Analysis5.7 Manuafturing Process Analysis5.8 Patent Analysis5.9 PESTEL Analysis5.10 Case Study

6 Macroeconomic Overview and Key Trends6.1 Introduction6.2 Trends and Forecast of GDP6.3 Impact of COVID-19 on Aerospace Industry6.3.1 Short-Term Strategies to Manage Cost Structure and Supply Chains6.3.2 New Opportunities6.4 Impact of COVID-19 on Automotive Industry6.4.1 Short-Term Strategies to Manage Cost Structure and Supply Chains6.4.2 Impact on Electric Vehicle (Ev) Demand due to Lower Oil Prices6.4.3 New Opportunities6.5 Impact of COVID-19 on Wind Energy Industry6.5.1 Short-Term Strategies to Manage Cost Structure and Supply Chains6.5.2 New Opportunities

7 Carbon Fiber Market, by Source7.1 Introduction7.2 Virgin Carbon Fiber7.2.1 Virgin Carbon Offers Better Thermal and Mechanical Properties Than Recycled Carbon Fiber7.3 Recycled Carbon Fiber7.3.1 Europe Leads the Demand for Recycled Carbon Fiber8 Carbon Fiber Market, by Precursor Type8.1 Introduction8.2 Polyacrylonitrile (Pan-Based) Carbon Fibers8.2.1 Pan-Based Carbon Fiber, by Tow Size8.2.1.1 Small-Tow (<24K)8.2.1.1.1 Small-Tow Carbon Fiber Finds Major Applications in Aerospace Industry8.2.1.2 Large-Tow (>24K)8.2.1.2.1 Wind Energy is Major Application of Large-Tow Carbon Fiber8.3 Pitch-Based Carbon Fiber8.4 Rayon-Based Carbon Fiber9 CFRP Market, by Resin Type9.1 Introduction9.2 Impact of COVID-19 on Resin Type9.3 Thermosetting CFRP9.3.1 Epoxy9.3.1.1 Epoxy Resin is Preferred in High-End Applications9.3.2 Vinyl Ester9.3.2.1 Vinyl Ester Resin Fin Applications in Transportation, Marine, and Pipe & Tank Industries9.3.3 Polyester9.3.3.1 Polyester is Cost-Competitive Resin9.3.4 Others9.4 Thermoplastic CFRP9.4.1 Polyetherethereketon (Peek)9.4.1.1 Peek Finds Extensive Use in Aerospace & Defense Applications9.4.2 Polyamide (Pa)9.4.2.1 Resistance to Wear, Heat, and Chemicals Supporting Growth of Polyamide Segment9.4.3 Polypropylene (Pp)9.4.3.1 Polypropylene-Based Thermoplastic Composites Have Huge Demand in Automotive Applications9.4.4 Others

10 CFRP Market, by Manufacturing Process10.1 Introduction10.2 COVID-19 Impact on Manufacturing Processes10.3 Lay-Up Process10.3.1 Aerospace & Defense End-Use Industry Drives the CFRP Market in Lay-Up Process10.4 Compression Molding Process10.4.1 Compression Molding Process Enables Short Cycle Time and a High Production Rate10.5 Resin Transfer Molding (Rtm) Process10.5.1 Rtm Process Used for Complex and Three Dimensional Components10.6 Filament Winding Process10.6.1 Pipe & Tank End-Use Industry Drives the CFRP Market in Filament Winding Process10.7 Injection Molding Process10.7.1 Automotive and Electrical & Electronics End-Use Industries Drives the CFRP Market in Injection Molding Process10.8 Pultrusion Process10.8.1 Wind Energy End-Use Industry is Largest Consumer of CFRP Pultruded Components10.9 Other Processes

11 CFRP Market, by End-Use Industry11.1 Introduction11.2 Aerospace & Defense11.2.1 Interior Parts11.2.1.1 Phenolic and Thermoplastic Composites Mainly Used in Aircraft Interior Structures11.2.2 Exterior Parts11.2.2.1 Fuselage, Wings, Rotor Blades, Tail Boom, and Radomes are Major Exterior Parts11.3 Wind Energy11.3.1 Wind Blades11.3.1.1 Carbon Fiber Widely Used for Making Spar Caps11.4 Automotive11.4.1 Interior Parts11.4.1.1 Seat Backs, Headliners, Package Trays, and Dashboards are Major Automotive Interior Parts11.4.2 Exterior Parts11.4.2.1 Exterior Parts are Major Applications in Automotive Industry11.5 Sporting Goods11.5.1 APAC Leads the Demand in Sporting Goods Industry11.6 Civil Engineering11.6.1 Restorations of Old Structures Driving the Use of Carbon Fiber11.7 Pipe & Tank11.7.1 Increase in Demand for Type Iv Cylinders Driving the CFRP Market11.8 Marine11.9 Electrical & Electronics11.9.1 APAC Leads Demand in Electrical & Electronics Segment11.10 Medical11.10.1 COVID-19 Pandemic Has Increased Demand for CFRP Materials in Medical Industry11.11 Other End-Use Industries12 CFRP Market, by Region12.1 Introduction12.2 North America12.4 APAC12.5 Latin America12.6 MEA (Middle East & Africa)

13 Competitive Landscape13.1 Introduction13.2 Market Share Analysis13.3 Market Evaluation Framework13.3.1 Expansion13.3.2 Agreement13.3.3 Acquisition13.3.4 Product Launch/Technology Launch13.3.5 Partnership13.3.6 Joint Venture13.3.7 Collaboration13.4 Revenue Analysis of Top Market Players, 201913.5 Company Evaluation Matrix13.5.1 Star13.5.2 Pervasive13.5.3 Participant13.5.4 Emerging Leaders13.6 Strength of Product Portfolio13.7 Business Strategy Excellence

14 Company Profiles14.1 Toray Industries Inc.14.2 Teijin Limited14.3 Mitsubishi Chemical Holdings Corporation14.4 Hexcel Corporation14.5 Solvay Group14.6 Sgl Group14.7 Formosa Plastics Corporation14.8 Hyosung14.9 Zhongfu Shenying Carbon Fiber Co., Ltd.14.10 Kureha Corporation14.11 Dowaksa14.12 Taekwang Industrial Co. Ltd.14.13 Jiangsu Hengshen Co., Ltd.14.14 Elg Carbon Fibre Ltd.14.15 Nippon Graphite Fiber Corporation14.16 Plasan Carbon Composites14.17 Kemrock Industries and Exports Ltd.14.18 Hindoostan Composite Solutions14.19 Crosby Composites14.20 Sigmatex Limited14.21 Zhongao Carbon14.22 Aeron Composite Pvt. Ltd.14.23 Weihai Tuozhan Fibers Co. Ltd.14.24 Cfk Valley Stade Recycling GmbH & Co. Kg14.25 Alabuga Fiber, LLC

15 Appendix

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CF & CFRP Market by Source, Precursor, Resin, Manufacturing Process, End-use Industry, and Region - Global Forecast to 2025 - Yahoo Finance