Ceskaa Market Research (https://ceskaa.com/shop/advanced-materials/product1/ has announced the addition of the Global Carbon Fiber and Carbon Fiber Reinforced Plastic Market: 2015-2020 report to their offering.
The global market for carbon fiber and carbon fiber reinforced plastic has been growing at a considerable rate with aerospace and defense, sporting goods, wind turbines, marine, automotive, civil engineering and pressure vessels end-user industries over the past five-years. The European region dominates the carbon fiber and carbon fiber reinforced plastic market globally followed by Asia-Pacific and North America. The opportunities for different tensile strength used for various applications are further driving the carbon fiber and carbon fiber reinforced plastic market worldwide.
To assess the market, carbon fiber is divided into four major types; Ultra-high modulus (UHM), High modulus, Intermediate modulus (IM) and Standard modulus (HT). Carbon fiber is a very strong thin and light weight reinforcing fiber consists of chain like molecules of element carbon.
This report also highlights the major drivers and challenges related to carbon fiber and carbon fiber reinforced plastic market and also focuses on the market share for major companies, including their profiles.
The global carbon fiber market has been growing at a significant rate, driven by the various application activities in structural or defense purposes, due to its high tensile, flexural, and impact properties, primarily used in Europe, Asia-Pacific and North America. Europe accounted for 35% of the total market for carbon fiber by value in 2015. Asia-Pacific and North America, the second and third-largest markets globally, accounted for 30% and 29%, respectively. Carbon fibers are used in high-strength composite materials commonly in aircraft, automobiles, architectural structures, and in other applications where light materials can endure stress and pressure.
With increasing raw material price, the carbon fiber market is currently facing pricing issues; however, the market for carbon fiber is on rise due to its extensive use in aerospace and defense applications.
The global market for carbon fiber is expected to grow from $1.8 billion in 2014 to $2.1 billion in 2015 at a year-on-year (YOY) growth rate of 10.6%. In addition, the market is expected to grow at a five-year CAGR (2015 to 2020) of 11.4%, to reach $3.5 billion in 2020. Carbon fiber, when reinforced provides a tougher material than steel or aluminum, which is used in a series of application such as automotive, aerospace, marine, construction and structural engineering.
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