Carbon Fiber Reinforced Plastic market: Global Industry Analysis, Trends, Market Size & Forecasts to 2023
� Consolidation zone: High growth rate and high market size, the companies operating in the regions that have high market size and high growth should focus on consolidating their market position in these segment. Mergers and acquisitions, extensive marketing programs, and new product developments can be used as marketing strategies to consolidate the position in these regions.
� Opportunity Zone: High growth low market size. The opportunity zone experiences product diversification by existing players and the entry of new players in the regions that fall under opportunity zone.
� Safe Zone: Moderate growth and moderate market size.
IGR- GROWTH MATRIX ANALYSIS
Growth Rate
High
Opportunity zone Consolidation zone
Low Risky zone
Retention zone
Low North America Europe Asia-Pacific Rest of the World
High
Market Size
According to IGR Growth Matrix, globally North America region falls under the retention zone, while Europe falls under the consolidation zone. North America, currently, is the largest consumer of carbon fiber reinforced Plastic followed by Europe. These two regions currently, hold a significant market share in the carbon fiber reinforced Plastic market. In North America the growth in carbon fiber reinforced Plastic market is expected to remain moderate over the forecast period in comparison with other regions. Hence, it is advisable that the companies operating in this region can focus on retention and can undertake several marketing campaigns to sustain
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