Global Carbon Fiber Reinforced Polymer (CFRP) Plates Market Size By Plate Type, By Application Industry, By Functionality And End Use, By Geographic Scope And Forecast
Report ID: 380766|No. of Pages: 202
Global Carbon Fiber Reinforced Polymer (CFRP) Plates Market Size By Plate Type, By Application Industry, By Functionality And End Use, By Geographic Scope And Forecast
Carbon Fiber Reinforced Polymer (CFRP) Plates Market Size And Forecast
Carbon Fiber Reinforced Polymer (CFRP) Plates Market size was valued at USD 503.52 Million in 2023 and is projected to reach USD 805.21 Million by 2030, growing at a CAGR of 9.5% during the forecast period 2024-2030.
Global Carbon Fiber Reinforced Polymer (CFRP) Plates Market Drivers
The growth and development of the Carbon Fiber Reinforced Polymer (CFRP) Plates Market is attributed to certain main market drivers. These factors have a big impact on how Carbon Fiber Reinforced Polymer (CFRP) Plates are demanded and adopted in different sectors. Several of the major market forces are as follows:
- Better Strength-to-Weight Ratio: Compared to conventional materials like steel or aluminum, CFRP plates are substantially lighter yet offer remarkable strength. Because of this feature, they are very sought after for applications where great strength and low weight are essential.
- Good Resistance to Deformation and Flexing under Load: CFRP plates have good resistance to deformation and flexing due to their high stiffness and rigidity. They are perfect for structural applications that need stability and dimensional accuracy because of this feature.
- Corrosion Resistance and Durability: CFD-plated materials have an innate capacity to withstand corrosion, chemicals, and environmental conditions, which guarantees their long-term resilience and lower maintenance needs across a range of applications.
- Tailored Design and Flexibility: C-frame reinforced Polymer (CFRP) plates provide design flexibility by enabling customization in terms of dimensions, forms, and structural characteristics to satisfy particular engineering and design specifications.
- Energy Efficiency and Lightweight Construction: The energy efficiency of CFRP plates is enhanced by their lightweight nature, which lowers fuel consumption and improves performance in a variety of industries, including aircraft, automotive, and construction.
- Growing Demand in the Aerospace and Automotive Sectors: The market demand for CFRP plates is being driven by the aerospace and automotive industries’ growing use of these materials because of their excellent strength, lightweight design, and advantages in fuel efficiency.
- Developments in Composite Manufacturing: Constant improvements in composite manufacturing technologies raise the caliber, economy, and scalability of CFRP plate production, opening it up to a wider range of sectors.
- Green initiatives and environmental sustainability: Fiber-reinforced plastic (FRP) plates encourage ecologically friendly practices by reducing carbon emissions and improving fuel efficiency through lightweight construction. This is in line with sustainability aims.
- The construction sector is in search of high-performance materials for infrastructure development. In this regard, CFRP plates have an advantage due to their strength, durability, and resistance to environmental influences.
- Research and Development Expenditures: Ongoing research and development expenditures to improve performance, lower production costs, and reinvent CFRP plate manufacturing processes support technological improvements and market expansion.
Global Carbon Fiber Reinforced Polymer (CFRP) Plates Market Restraints
The Carbon Fiber Reinforced Polymer (CFRP) Plates Market has a lot of room to grow, but there are several industry limitations that could make it harder for it to do so. It’s imperative that industry stakeholders comprehend these difficulties. Among the significant market limitations are:
- High Production Costs: Compared to ordinary materials, CFRP plates have higher production costs since their manufacturing requires sophisticated procedures and raw ingredients. The cost component may prevent widespread use.
- Limited Availability of Raw Materials: The scalability of CFRP plate production can be hampered by the limited availability or high cost of specialized raw materials needed for the production of carbon fiber.
- Difficult Manufacturing Procedures: The complex manufacturing procedures needed to produce CFRP plates can be labor-intensive and demand specific tools and knowledge, which could result in longer lead times and increased expenses.
- Design Restrictions and Customization Issues: Although CFRP plates provide for design flexibility, the intricacy of producing bespoke forms and sizes might present issues and limit the plates’ applicability in some situations.
- Material Brittleness Concerns: Despite its strength, carbon fiber may be viewed as brittle in some situations. This raises questions regarding its suitability for some structural applications or surroundings that are vulnerable to impacts.
- Certification and Regulatory Compliance: Adoption and market penetration of CFRP plates may be impacted by the difficulty and expense of producing CFRP plates in accordance with industry standards and certifications.
- Competition from Alternative Materials: The broad adoption of CFRP plates may face competition from alternative materials that offer more affordable options, such as fiberglass or hybrid composites, especially in sectors where prices are crucial.
- Difficulties with Recycling and Disposing of CFRP Materials: Difficulties with recycling or disposing of CFRP materials at the end of their lifecycle might affect how sustainable the material is perceived as well as cause environmental problems.
- Perceived Lack of Industry Experience: Several sectors may be reluctant to use this cutting-edge material because they lack experience or knowledge of utilizing CFRP plates in their applications.
- Market Education and Awareness: Potential users may not fully appreciate the advantages provided if there is a lack of knowledge about the short- and long-term benefits of CFRP plates over traditional materials. This can impede market growth.
Global Carbon Fiber Reinforced Polymer (CFRP) Plates Market Segmentation Analysis
The Global Carbon Fiber Reinforced Polymer (CFRP) Plates Market is Segmented on the basis of Plate Type, Application Industry, Functionality And End Use, And Geography.
Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Plate Type
- Unidirectional CFRP Plates: These plates, which are frequently used in structural and aeronautical applications, have carbon fibers oriented in a single direction and offer great tensile strength in that direction.
- Bidirectional CFRP Plates: These plates, which are appropriate for a variety of engineering applications, include carbon fibers organized in two directions to provide strength in both longitudinal and transverse dimensions.
- Multidirectional CFRP Plates: These plates include carbon fibers arranged in several orientations, providing isotropic qualities. They are perfect for applications that need strength that is balanced in all directions.
Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Application Industry
- Automobile: Plates used in the automobile sector for parts including body panels, interior components that need to be strong and lightweight, and reinforcement for the chassis.
- Infrastructure and Construction: CFRP plates are used in seismic retrofitting, bridge building, structural strengthening, and other civil engineering applications.
- Marine and Naval: CFRP-coated plates that are utilized in marine applications such as underwater constructions, hull reinforcement, and boat building.
- Automated Layup CFRP Plates: These segments concentrate on plates made with automated layup methods, which guarantee precision and uniformity in the placement of fibers and the application of resin.
Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Functionality And End Use
- Structural CFRP Plates: These are plates that are used for load-bearing applications, structural reinforcement, or other applications requiring high strength.
- CFRP Plates with Thermal Insulation: Sections concentrating on plates with thermal insulating qualities, utilized in applications needing thermal control or heat resistance.
Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Geography
- North America: CFRP plate markets are divided into groups according to industrial uses, demand, and technological developments in the region’s member states.
- Europe: Components taking into account regional preferences, business requirements, and CFRP plate acceptance in European markets.
- Asia-Pacific: The adoption of such plates in Asia-Pacific countries is driven by segmentation based on growing market opportunities, manufacturing developments, and industrial growth.
Key Players
The major players in the Carbon Fiber Reinforced Polymer (CFRP) Plates Market are:
- Toray Industries
- Hexcel
- Teijin Carbon Fibers Holdings Inc
- SGL Carbon SE
- Mitsubishi Chemical Holdings Corporation
- Cytec Industries Inc
- Cytec Industries Inc. company logo
- Solvay
- Hexcel Composites
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Toray Industries, Hexcel, Teijin Carbon Fibers Holdings Inc, SGL Carbon SE, Mitsubishi Chemical Holdings Corporation, Cytec Industries Inc |
| SEGMENTS COVERED | By Plate Type, By Application Industry, By Functionality And End Use, And By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Top Trending Reports:
Global Data Deduplication Tools Market Size And Forecast
Global Cannabidiol Extract Market Size And Forecast
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Plate Type
• Unidirectional CFRP Plates
• Bidirectional CFRP Plates
• Multidirectional CFRP Plates
5. Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Application Industry
• Automobile
• Infrastructure and Construction
• Marine and Naval
• Automated Layup CFRP Plates
6 Carbon Fiber Reinforced Polymer (CFRP) Plates Market, By Functionality And End Use
• Structural CFRP Plates
• CFRP Plates with Thermal Insulation
7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• Toray Industries
• Hexcel
• Teijin Carbon Fibers Holdings Inc
• SGL Carbon SE
• Mitsubishi Chemical Holdings Corporation
• Cytec Industries Inc
• Cytec Industries Inc. company logo
• Solvay
• Hexcel Composites
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
