North America is the key region for CFRP Market

The global carbon fiber market size, in terms of value, is projected to reach USD 3.51 Billion by 2020, at a CAGR of 9.1% between 2015 and 2020. The global carbon fiber reinforced plastic (CFRP) market, in terms of value, is projected to reach USD 35.75 Billion by 2020, at a CAGR of 9.9% between 2015 and 2020. This growth is fueled by the increasing production capacities of Boeing and Airbus, rising demand of fuel efficient vehicle, and growing application of CFRP in other application sectors such as sporting goods, civil engineering, and wind energy globally.