Asia Pacific carbon fibre market posts double digit growth

DALLAS-A new research report on the carbon fibre market and carbon fibre reinforced plastic (CFRP) market released by MarketsandMarkets showed that Asia-Pacific is the most promising carbon fibre market and this is expected to be sustained in the near future.

Asia-Pacific produced almost 40% of the total global demand in 2013, and demand for carbon fibre in the region is projected to grow annually by about 14.0% for the period 2014 to 2019. Japan, and China were the biggest manufacturers of carbon fibre in this region, followed by Taiwan and South Korea in 2013.

In order to meet the growing demand from CFRP application industries from European region, the leading manufacturer from Asia-Pacific region are raising their production capacities in Asia, mainly in China.

North America is the biggest market of carbon fibre reinforced plastic (CFRP), accounting for 36.83% share in global CFRP market due to increased demand from the aerospace and defense industries. Europe is the fastest growing CFRP market due to the increasing use of CFRP in automotive and wind energy.