Carbon Fiber Resin Market Will Grow Usd 532.7 Million by 2021: Jsbmarketresearch

Carbon Fiber Resin Market by Resin Type, by Form, by Application, and by Region - Global Forecast to 2021

Released on 31st March 2016

“Increasing demand for carbon fiber composite in end-use industries is driving the carbon fiber resin market”

The carbon fiber resin market is estimated 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% from 2016 to 2021. The growth of carbon fiber resin is largely associated with the increasing demand for lightweight and strong composite materials, which are used in various end-use industries such as aerospace & defense, wind energy, automotive, sporting goods, and marine, among other industries. Composite components that are manufactured using carbon fibers are extremely lightweight and have high strength and stiffness.

“Aerospace & defense and automotive applications to drive the carbon fiber resin market during the forecast period”

Composites are becoming a core strategic material for automotive OEMs for structural and non-structural components. The aerospace & defense application is expected to contribute the largest market share during the forecast period. Materials made from carbon fiber resin possess properties such as high strength, chemical resistance, corrosion resistance, and high viscosity, which make them an ideal material to be used in aerospace exterior and interior parts. Moreover, with the introduction of Corporate Average Fuel Economy (CAFE) requirement in the U.S., which aims at the reduction of emissions from the automobiles, has helped in increasing the demand for lightweight carbon fiber-based composite materials. The high demand for lightweight composite materials is expected to ultimately propel the growth of the carbon fiber resin market.

“North American region holds attractive opportunities for carbon fiber resin market”

North America dominated the carbon fiber resin market globally in 2015 both by...