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Tuesday, April 17, 2018

The Carbon Fiber Reinforced Plastic (CFRP)

The Carbon Fiber Reinforced Plastic (CFRP) market is projected to reach USD 37.19 Billion by 2022, at a CAGR of 10.50%. Toray Industries Inc. (Japan), Teijin Limited (Japan), Mitsubishi Rayon Co. Ltd. (Japan), SGL-Group (Germany), Formosa Plastics Corporation (Taiwan), Hexcel Corporation (U.S.), Cytec Industries Inc. (U.S.), Hyosung (South Korea), and Tencate (Netherlands), among others are major players operating in Carbon Fiber Reinforced Plastic (CFRP) market.
CFRP is used widely in aircraft components and structures, as their superior strength-to weight ratio significantly exceeds that of any traditional metal.

The increasing demand for composites in the production of aircraft components, such as floor beams, ailerons, vertical stabilizers, elevators, wings, and engine nacelles is driving the CFRP market.

For instance, Airbus superjumbo commercial aircraft A380, A350, and Boeing’s B-787 are built with carbon fiber composites

North America region is expected to be the largest market for CFRP globally,
due to the increase in demand for CFRP from aerospace & defense, wind energy,
and automotive industries. Along with existing capacities, several carbon fiber composites manufacturers are expanding their production capacities.

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