About Carbon Fiber Reinforced Thermoplastic
Carbon fiber reinforced thermoplastics (CFRTP) are a type of composite material that consists of carbon fiber and a thermoplastic resin. They offer high strength-to-weight ratios, excellent impact resistance, and good chemical and UV resistance. CFRTPs have a variety of applications, including aerospace, automotive, and sporting goods. The market for CFRTPs is expected to grow significantly in the coming years. One of the key drivers of this growth is the increasing demand for lightweight materials in various industries. CFRTPs offer a high strength-to-weight ratio, which makes them an attractive option for manufacturers looking to reduce the weight of their products. The automotive industry is one of the major consumers of CFRTPs. The use of CFRTPs in automotive applications can help reduce the weight of the vehicle, leading to better fuel efficiency and performance. Additionally, CFRTPs offer good impact resistance, which can improve the safety of the vehicle in the event of a crash. Another factor driving the growth of the CFRTP market is the increasing demand for sustainable materials. CFRTPs are recyclable and can be reused in other products, making them an attractive option for companies looking to reduce their environmental impact.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Carbon Fiber Reinforced Thermoplastic market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DowAksa (Turkey), Toray Industries (Japan), SGL Carbon (Germany), Hexcel Corporation (United States), Solvay (Belgium), Teijin Limited (Japan), Mitsubishi Chemical (Japan), Hyosung Corporation (South Korea), Plasan Carbon Composites (United States), Kringlan Composites AG (Switzerland), Formosa Plastics Corporation (Taiwan) and TenCate NV (Netherlands) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Carbon Fiber Reinforced Thermoplastic market by Type (Polyacrylonitrile (PAN)-based CFRTP and Pitch-based CFRTP), Application (Aerospace, Automotive, Wind Turbines, Construction, Sport Goods and Others) and Region.
On the basis of geography, the market of Carbon Fiber Reinforced Thermoplastic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
High Adoption of PAN-based Carbon Fiber Reinforced Thermoplastic in Various Industries
Market Growth Drivers:
Growing Popularity of Carbon Fiber Reinforced Thermoplastic in Aerospace and Automotive Application Due to Low Weight and High Tensile Strength
Challenges:
Due to the Brittleness of CFRP, It May Easily Damage When Hit
Restraints:
High Cost Associated with Manufacturing of Carbon Fiber Reinforced Thermoplastic
Opportunities:
Evolution of EVs, Hybrid Vehicles, and Other Next-generation Eco-cars
Market Leaders and their expansionary development strategies
In 2021, SGL Carbon, a German-based manufacturer of carbon-based products and materials, announced that it had completed the acquisition of Benteler-SGL, a joint venture between Benteler Automotive and SGL Carbon, which produces lightweight composite materials for the automotive industry.
In May 2021, South Korea-based Hyosung Corporation announced the expansion of PAN carbon fiber production by adding a third line at its Jeon-Ju production facility in South Korea. The company has decided on this expansion to meet the demand for carbon fiber used in industrial applications such as cable core, building infrastructure, and, in particular, fuel tank cylinders for compressed natural gas (CNG) and hydrogen vehicles. With the high-strength and high-strain carbon fibers, TANSOME will play a key role in type III and type IV cylinder pressure vessels and their safe operation.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Carbon Fiber Reinforced Thermoplastic Manufacturers, Suppliers and Distributors of Carbon Fiber Reinforced Thermoplastic, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.