Press release
Research and Technological Innovations to Bolster Developments in Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market
Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market
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Key Market Segments Covered in CFRTP Composites Industry Research
Product
Carbon Fiber CFRTP Composites
Glass Fiber CFRTP Composites
Aramid Fiber CFRTP Composites
Application
CFRTP Composites for Automotive
CFRTP Composites for Aerospace
CFRTP Composites for Electronics
CFRTP Composites for Sporting Goods
Key Takeaways from Market Study
Global continuous fiber-reinforced thermoplastic composites market to top US$ 1.5 Bn by 2031.
Aramid fiber projected to reach valuation around US$ 300 Mn by 2031.
Glass fiber projected to record above 4% CAGR over the next 10 years.
Market in Japan to record 3% CAGR over the forecast period of 2021- 2031.
China forecast to reach a projected market size above US$ 350 Mn by 2031.
Market in Canada projected to expand at above 4% CAGR over the next 10 years.
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This report gives you access to decisive data such as:
• Demand of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market & Growth drivers
• Factors limiting Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market growth
• Current key trends of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market
• Market Size of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites and Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Sales projections for the coming years
How is Rising Adoption of Environment-friendly Vehicles Driving Demand for CFRTP Composites?
As fuel efficiency depends upon the weight of a vehicle, there is increase in requirement for lightweight materials, which is anticipated to drive demand for CFRTP composites.
Electric vehicles (EVs) are environment-friendly and have been gaining a lot of traction in recent years. CFRTP composites have high strength and contribute significantly to vehicle weight reduction, and are extremely useful in the manufacture of EV parts.
As the market for electric vehicles grows, increase in consumer awareness towards pollution-free and efficient vehicles is further fostering demand for lightweight vehicles, which, in turn, is driving demand for CFRTP composites in the market.
Which Region Offers the Largest Opportunity for CFRTP Composite Suppliers?
North America dominates the market with a share of more than 50%. North America is expected to remain the largest regional market due to the presence of leading part fabricators, and is also expected to witness the highest growth because of rising penetration of continuous fiber-reinforced thermoplastic composites in major end-use industries.
The low weight and high tensile strength of composites increase fuel efficiency, reduce maintenance costs, and allow OEMs to comply with stringent environmental regulations in North America. There has been increasing production of single-aisle airplanes by Boeing in North America, which is likely to drive the market in the region.
Crucial insights in Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market research report:
• Underlying macro- and microeconomic factors impacting the Sales of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market.
• Basic overview of the Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites, including market definition, classification, and applications.
• Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
• Adoption trend and supply side analysis of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites across various industries.
• Important regions and countries offering lucrative opportunities to market stakeholders.
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The Market insights of Continuous Fiber-Reinforced Thermoplastic (CFRTP)
Composites will improve the revenue impact of businesses in various industries by:
• Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market
• Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market and offers solutions
• Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
• Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
• Helping leading companies make strategy recalibrations ahead of their competitors and peers
• Offers insights into promising synergies for top players aiming to retain their leadership position in the market & supply side analysis of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market .
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Competitive Landscape
Major players with a prominent share in the market are focusing on expanding their customer base.
In 2018, Lanxess AG announced a new thermoplastic specialty compounds facility in Krefeld-Uerdingen, Germany. This will increase the capacity of the facility by 10,000 metric tons per year. It will help the company cater to demand for polyamide-based compounds.
In 2019, Polyone Corporation launched new thermoplastic composite products at CHINAPLAS 2019. It introduced Complet LFT formulations, which is a thermoplastic composite with PEEK and PP as a base resin, to meet highly demanding design and performance requirements.
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