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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