On December 14, the latest report released by London's Technavio research team shows that by 2020, the global fiber reinforced plastics market will grow at an annual rate of 12%.
The study's theme is “2016-2020 Global Carbon Fiber Reinforced Plastics Marketâ€, which also shows that the main driver of the market is the aerospace industry, and there will be a huge shift in this.
According to the report, the industry has added 22,000 new aircraft, and by 2025 the number will reach 44,000. In commercial aircraft, the growth is mainly due to the increase in the number of passengers in the Asia-Pacific and the Middle East. In addition, in North America and Europe, the replacement rate of new and old aircraft has increased due to the improvement of fuel efficiency.
Based on the difference in raw materials, the report divides the global carbon fiber reinforced plastics market into three parts: PAN series, pitch series and man-made fiber series.
The report does not give an annual growth rate for the PAN and Pitch series plastics market, but the man-made fiber reinforced plastics market has an annual growth rate of around 10%. The market value in 2015 was $1.34 billion, and will reach 2.13 billion by 2020. Dollar.
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