Home › News Updates › Adhesives Mag Mentions MarketsandMarkets as a Prime Source for Market Trends in an Article on Carbon Fiber Reinforced Plastics (CFRP) Market
MarketsandMarkets was highlighted as key source for Market Scenario in an article on CFRP market published by Adhesives Mag
CFRP are lightweight and high-strength composite materials used in aerospace & defense and automotive industries due its mechanical and physical properties such as high mechanical strength, thermal and chemical stability, and heat resistance, among others. They are mainly used in aircraft components and structures since they help in increasing their range and simplifying their maintenance. The worldwide market for CFRP is poised to grow at a CAGR of 9.9%, reaching $35.8 Billion by 2020, owing to its increasing usage in Boeing and Airbus, growing demand for fuel-efficient and lightweight vehicles, and increasing focus on producing electricity from renewable resources. The automotive industry is expected to offer the highest growth potential in the near future.
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Report mentioned in the above news is,
Carbon Fiber (CF) and Carbon Fiber Reinforced Plastic (CFRP) Market by Raw Material & Tow Size, CFRP Market by Resin Type, by Manufacturing Process, by Application, and by Region - Trends and Forecasts to 2020
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