Global Carbon Fiber Reinforced Plastics Market: Overview
The global carbon fiber reinforced plastics market is foreseen to take advantage of the increasing application in the automotive industry. Carbon fiber reinforced plastics can easily replace traditional materials, which include iron, steel, and metal alloys. Carbon fiber reinforced plastics offer easy workability and show high compressive, tensile strength, and fatigue resistance but low coefficient of thermal expansion.
The global carbon fiber reinforced plastics market could be classified according to end-use industry, type, and product type. Among different types of products, polyacrylonitrile (PAN)-based is anticipated to rank higher in the global carbon fiber reinforced plastics market in terms of demand.
The report offered here is a detailed account of the global carbon fiber reinforced plastics market where the key focus is on market segmentation, dynamics, regional analysis, and competition. It provides useful guidelines for players to take informed decisions when operating in the global carbon fiber reinforced plastics market.
Global Carbon Fiber Reinforced Plastics Market: Trends and Opportunities
The high cost factor is foretold to restrict the use of carbon fiber reinforced plastics. However, the need to fulfill corporate average fuel economy (CAFE) standards which concentrate on the reduction in vehicular emission and achievement of the required fuel economy could improve the demand in the global carbon fiber reinforced plastics market. Such standards have compelled auto manufacturers and OEMs to build body panels of premium cars using carbon fiber reinforced plastics. The use of carbon composite materials in place of metals can help reduce a vehicle’s weight by 100-150 kg.
Besides automotive, the aerospace industry is prognosticated to propel the growth of the global carbon fiber reinforced plastics market. The adoption of lighter materials for the manufacture of aircrafts to increase fuel economy could set the tone for valuable growth of the global carbon fiber reinforced plastics market. Aerospace is considered to be one of the largest consumers of carbon fiber reinforced plastics. The early penetration of the global carbon fiber reinforced plastics market in the sports goods industry could also bode well. Carbon fiber reinforced plastics are used in the manufacture of tennis rackets, golf shafts, and finishing rods.
Global Carbon Fiber Reinforced Plastics Market: Regional Analysis
North America is predicted to emerge as a leading region for the carbon fiber reinforced plastics market. Automotive manufacturing witnessing a move toward the use of modern lightweight materials and heavy presence of large defense and aircraft manufacturing companies in the region could catapult the North America carbon fiber reinforced plastics market.
On the other hand, Asia Pacific is envisaged to bank on infrastructure development, aggressive rate of industrialization and urbanization, deeper oil and gas exploration, and development of the wind power market to achieve growth in the carbon fiber reinforced plastics market.
Global Carbon Fiber Reinforced Plastics Market: Companies Mentioned
The global carbon fiber reinforced plastics market includes some of the prominent names of the industry such as Hexcel Corp., Toray Industries, Inc., SGL Group, Inc., Cytec Industries, Inc., and Mitsubishi Rayon Co. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.