Carbon Fiber Resin Market worth 532.7 Million USD by 2021

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Carbon Fiber Resin Market by Resin Type, Form,
Application, by Region - Global Forecast to 2021
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
The report "Carbon Fiber Resin Market by Resin
Type, by Form (Prepreg, Non-Prepreg), by
Application, and by Region - Global Forecast to
2021", The global carbon fiber resin market is
projected to grow from USD 292.7 Million in 2016
to USD 532.7 Million by 2021, at a compound
annual growth rate (CAGR) of 12.7 during the
same period. Carbon fiber composites are used in
large volumes due to its superior features as
compared to other traditional materials made from
iron and steel. The increase in the demand for
carbon fiber composites in aerospace defense,
automotive and sporting goods is driving the
carbon fiber resin market globally.
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
Browse gtgt 70 data tables
50 figures
129 pages and in-depth TOC on Carbon Fiber Resin
Market Early buyers will receive 10
customization on this report. This is a
Premium Report Priced at US 4650 for single
user. The global carbon fiber resin market is
projected to grow from USD 292.7 Million in 2016
to USD 532.7 Million by 2021, at a compound
annual growth rate (CAGR) of 12.7 during the
same period.
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
Increasing demand for lightweight and superior
mechanical properties will drive the carbon fiber
resin market in aerospace defense
application The major factor driving the carbon
fiber resin market is the usage of carbon fiber
composites in the aerospace defense application
due to its good mechanical properties and
lightweight. Growing demand for carbon fiber
composites in Boeing-787 aircrafts is also acting
as a crucial factor for the growth of carbon
fiber resin. The materials manufactured using
carbon fiber resin offer superior properties,
including high corrosion resistance, high
strength and rigidity, good chemical resistance,
and high viscosity.
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
Automotive application one of the key segments
in the carbon fiber resin market Automotive
application will be the fastest-growing segment
of the carbon fiber resin market during the
forecast period. The automotive industry is
beginning to use carbon fiber resin to
manufacture cars of reduced weight that provide
good performance and luxury with economical
pricing. Carbon fiber resins are used in the
automotive industry due to its high strength and
rigidity. Epoxy resin combined with carbon fiber
is used in various automotive parts such as
suspension system, drive shafts, load-bearing
structures, and among others.
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
Thermoset resin is expected to dominate the
carbon fiber resin market Thermoset resin has a
larger market share in comparison to
thermoplastic owing to their high strength and
resistance to high temperature. Therefore, they
have larger application in the automotive and
aerospace defense industries that require more
heat and temperature-resistant materials.
Thermoset includes epoxy, polyester, and vinyl
ester resin. These resins are widely used for
manufacturing carbon fiber composite materials,
as when uncured, they are in the liquid state at
room temperature. This unique property of
thermoset resin allows convenient impregnation of
reinforcing fiber.
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
North America is the largest market for carbon
fiber resin The U.S. contributes a major market
share in the North American region, whereas
Germany constitutes the major market of the
European region. High growth in the U.S. is
attributing to growing demand for high
performance composite resin, especially from the
aerospace defense industry. The Asia-Pacific
region is also experiencing high growth in the
carbon fiber resin market. This increase in
growth is because of the high industrial
development in countries such as China, Japan,
and South Korea.
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Carbon Fiber Resin Market worth 532.7 Million USD
by 2021
Key players - The major players in the carbon
fiber resin market include Huntsman Corporation
(U.S.), Alpha Owens-Corning (U.S.), BASF SE
(Germany), Hexion Inc. (U.S.), Ashland Inc.
(U.S.), Kukdo Chemical Company Ltd. (South Korea)
etc. MarketsandMarkets broadly segments the
carbon fiber resin market on the basis of resin
type, form, and application. The study covers
more than seven countries for the four main
regions namely, North America, Europe,
Asia-Pacific, and RoW. Purchase a Copy of this
Report Today !
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