Carbon Fiber Reinforced Plastics (CFRP) Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

 

Carbon Fiber Reinforced Plastics (CFRP) Market
Carbon Fiber Reinforced Plastics (CFRP) Market

Fiber reinforced composites are used in a variety of engineering fields, including automotive, aerospace, and defence. Various technological advances have resulted in the development of lightweight composites with high tensile strength. Carbon fibre reinforced plastic, also known as carbon fibre reinforced thermoplastics, is made by combining carbon fibre with plastic to increase its strength. Carbon filaments made from polymers such as polyacrylonitrile (PAN), rayon, and petroleum pitch are critical components in the production of CFRP.

The Global Carbon Fiber Reinforced Plastic Market is expected to grow rapidly over the forecast period. Because of the high strength-to-weight ratio, the market is expected to expand due to rising demand from the automotive and aerospace industries. The growing desire for fuel-efficient vehicles, combined with stringent government regulations on vehicle emissions, is driving up market demand. The growing automotive sector in developing countries, rising industrialization, and customer preference for environmentally and energy-efficient products are some of the factors that are expected to drive market growth over the forecast period.

Carbon fibre reinforced plastics are widely used in the aerospace industry for aircraft manufacturing. Aircraft manufacturers such as Boeing and Airbus are investing heavily in research and development activities in order to produce aircraft that can withstand extreme environmental stresses. These aerospace applications are subject to stringent compliances and high licencing and inspection costs. Stringent vehicle emissions regulations have compelled major automakers such as Volkswagen, BMW, Ferrari, and Audi to place a greater emphasis on vehicle weight reduction. CFRP is widely used as a polymer composite to reduce vehicle weight, resulting in improved vehicle fuel efficiency.

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