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Carbon Fibre Reinforced Plastic Price Trend and Forecast
Carbon Fibre Reinforced Plastic Price Trend and Forecast
Regional Price Overview
Get the latest insights on price movement and trend analysis of Carbon Fibre Reinforced Plastic in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Carbon Fibre Reinforced Plastic Price Trend for the Second Half of 2023
Asia
CFRP or Carbon Fibre Reinforced Plastic is a reinforced type of plastic that is being capaciously utilized in modern-day technological manufacturing in various sectors like aerospace, automobiles, robotics, sports, automation, etc. So, the market behavior is largely dependent on the demand fluctuations of all these sectors.
Carbon Fibre Reinforced Plastic Price Chart
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During the first half of the discussed span in Q3’23, the market prices were mostly observed to be wavering high as the demands from the above-mentioned industries kept rising. Suppliers increased production to garner more revenue and fill the supply gaps. This surge in the price graph went on till the middle of the following quarter. It was during the last months of Q4 that the prices dipped owing to the decline in industrial consumption during the New Year holiday season. Overall, positive market behavior was observed.
Europe
Despite some occasional reverse fluctuations, the Carbon Fibre Reinforced Plastic market outlook in Europe was generally positive for the most part. Influenced by the Asian market the prices here mostly dwelled on the inclined side of the curve. The purchasing power of the region started improving again after the economic mayhem of the previous years. This fueled up the regional manufacturing sector as well, and thus, a rising price trend was obtained for the most period. Some downward movement was seen during the later months of Q4.
North America
The North American Carbon Fibre Reinforced Plastic industry closely mimicked the growth in its Asian and European counterparts during the given period. The prices were observed to be inclining steadily here as well. With very supportive downstream demands and cautious suppliers, the market momentum was observed to be very positive throughout.
Analyst Insight
According to Procurement Resource, the Carbon Fibre Reinforced Plastic market has positive projections for the coming months. Given the current consumption patterns, the prices are expected to continue rising.
Carbon Fibre Reinforced Plastic Price Trend for the First Half of 2023
Asia
The price trend of carbon fiber reinforced plastics declined in the first and second quarters of 2023 as the market activities of its feedstock materials slipped during this time phase. The cost of feedstock materials was hit by low demand from downstream industries and high levels of inventories.
In the second quarter, the Asian currencies were challenged by the soaring rates of the US dollar, which impacted trading activities. In addition to this, the market in China remained suspended due to the onset of the Dragon Boat Festival, which further hindered the growth of carbon fiber reinforced plastics prices.
Europe
The European countries witnessed sluggish movement of carbon fiber reinforced plastics price trend as the cost of feedstock materials slumped. In the first quarter, the price trend was negatively impacted by low demand from the downstream industries and high uncertainties in the natural gas sector.
In the initial phase of the second quarter, the limited supply of feedstocks due to the closure of some manufacturing units supported the prices of carbon fiber reinforced plastics as they became stabilized. However, due to the poor purchasing potential of buyers and the increase in bank rates, the price trend of carbon fiber reinforced plastics dipped southwards.
North America
The carbon fiber reinforced plastics market showcased weak movement in the North American region. In the first quarter, the demand from downstream industries remained stagnant, and with the reduced number of offtakes, the price trend of carbon fiber reinforced plastics suffered throughout the first quarter.
In the second quarter, the rates of production were affected by the closure of certain production plants. In addition to this rising rate of inflation, bank interests showcased signs of recession that further pushed the price trend of carbon fiber reinforced plastics towards a negative region.
Analyst Insight
According to Procurement Resource, the price trend of Carbon Fiber Reinforced Plastics is estimated to decline in the upcoming months. The demand from downstream industries seems low, and with highly uncertain market conditions, the price trend of carbon fiber reinforced plastics is expected to suffer.
Procurement Resource provides latest prices of Carbon Fibre Reinforced Plastic. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About
Carbon Fibre Reinforced Plastic (CFRP) is a robust and lightweight reinforced plastic made up of carbon fibers. CFRP is five times lighter than steel and has only about 60 percent of the weight of aluminum. Owing to its high load-bearing capacity and thermal expansion, its demand is increasing for consumer and technical applications. CFRP is a material consisting of several constituents: a base or carrier substance, also called a matrix (usually a resin), and a second reinforcing component, the carbon fiber, embedded in the matrix.
Product Details
| Report Features | Details |
| Product Name | Carbon Fibre Reinforced Plastic |
| Synonyms | CFRP, Carbon fiber-reinforced polymers, Carbon-fiber reinforced-thermoplastic(CFRTP), Carbon composite |
| HS code | 39072090 |
| Industrial Uses | Aerospace, Automotives, Shipping Industry, Sports Equipment, Robotics, Automation |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Processes
- CFRP Production from Pitch; CFRP Production via Carbonization
The production of CFRP from pitch takes place in many steps. In the first step, all the impurities that affect the tensile strength of carbon fibers are removed, and the pitch is subjected to spinning. Then thermosetting of the pitch is carried out. This process is one of the most challenging processes.
Thermosetting uses an oxidation reaction, and it is imperative to remove heat from pitch fiber. Too fast a thermosetting response cause it to melt the surface of the fiber and stick to each other. To avoid this phenomenon, we must use a slow thermosetting reaction. Then the carbonization is carried out, and the desired product is obtained.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e., government agencies, external trade bodies, and industry publications).
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