Research and Markets releases CFRP Global Market Review

The Irish market research firm says in its newest report on the subject that the global carbon fiber market is likely to consume 141,000 metric tonnes (310.85 billion lb) of fiber annually by 2020 as the composites market reached 210,000 metric tonnes (462.97 billion lb).

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On Sept. 30, 2013, market research firm Research and Markets (Dublin, Ireland)  announced the release of  "Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) - A Global Market Overview." In this, its most recent report on the subject, the company predicts that the global carbon fiber market is likely to demand 141,000 metric tonnes (310.85 billion lb) of fiber annually by 2020 as the composites market reaches 210,000 metric tonnes (462.97 billion lb).

The company noted that carbon fibers have gained an immense importance in a range of applications in industrial sectors. According to the report, the global market for carbon fibers and carbon fiber composites is mainly driven by the wind energy, aerospace and defense, and sports and leisure sectors, which are estimated to consume 11,300 metric tonnes, 9,400 metric tonnes and 8,300 metric tonnes (24.91 million lb, 20.72 million lb and 18.30 million lb), respectively, by the end of this year.

Global volume demand for CFRP, estimated at around 67,000 metric tonnes (147.71 million lb) in 2012, is expected to maintain a 2012-2020 CAGR of 15.3 percent to reach 210,000 metric tonnes (462.97 million lb) by 2020. In terms of value, demand for CFRP, estimated at US$10.25 billion in 2012 is expected to record a CAGR of 11.9 percent over 2012-2020 as it reaches US$25.2 billion by 2020.

In tandem with the CFRP market, global demand for carbon fibers in terms of volume, estimated at 45,000 metric tonnes (99.21 million lb) in 2012 and forecast to be 51,000 metric tonnes (112.44 million lb) in 2013, is further projected to reach 141,000 metric tonnes (251.33 million lb) by 2020, registering a 2012-2020 CAGR of 15.4 percent. In terms of value, consumption of carbon fibers globally is estimated to stand at US$2.03 billion in 2012 and projected to reach around US$5 billion by 2020.

Publication Overview
The study reviews, analyzes and projects the global market for carbon fibers and carbon fiber-reinforced plastics (CFRP) for the period 2008-2020 while discussing the global carbon fiber installed capacities. The report also focuses on current market trends and future strategies of the industry.

The market for carbon fibers and CFRP application areas analyzed in the study include aerospace and defense, sporting goods and leisure, and industrial applications, such as automotive, wind energy, pressure vessels, construction and infrastructure, compounds for electrical/electronic applications, oil and gas applications, and others. Further, the report estimates and projects the global market for both carbon fiber-reinforced plastics and carbon fibers for the period 2008-2020, in terms of volume (metric tonnes) as well as value (US$ million) by geographic regions including North America, Europe, Japan, Asia and Rest of World.

The report features 74 key global players, comprising 27 carbon fiber, 6 recycled carbon fiber and 41 carbon fiber composite manufacturers. The report includes the listing of 54 companies that are engaged manufacturing of carbon fibers, recycled carbon fibers, carbon fiber precursors and low-cost carbon fiber research and development. The study also provides a global list of 209 players that encompasses the companies that are engaged in manufacturing, supplying, molding and fabricating the carbon fiber composites.

For more information, visit http://www.researchandmarkets.com/research/7p2b4s/carbon_fibers_and.

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