The global carbon fiber reinforced thermoplastic (CFRTP) composites market is projected
to reach USD 7.74 billion by 2025, as per a new report by Grand View Research,
Inc. The demand for lightweight materials in automobile production, so as to
reduce the overall fuel consumption is splurging the carbon thermoplastic
market demand globally.
Many developed countries such as the United States, Japan, Germany, etc.
have a high concentration of automobile, aerospace and defense equipment
manufacturing companies and so is the consumption of carbon thermoplastics
composites in these regions.
North America is anticipated to be the largest market for the product on
account of the presence of major aircraft manufacturing giants like Boeing and
many other top notch automobile manufacturers. Europe is expected to witn ess
the highest growth over the forecast period. The presence of key automotive
manufacturers such as BMW, Volkswagen, Mercedes, Fiat, etc. which emphasizing
on building low-weight, fuel efficient, low emission, environment-friendly
cars, has led to the increased consumption of CFRTP composites in the Europe.
The market is growing and is composed of several large players. However,
product cost is a major challenge faced by these companies. Key market
participants have adopted strategies such as agreements, joint ventures,
partnerships, and alliances so as to sustain the growing market competition.
Access Full research report on carbon fiber reinforced
thermoplastic (CFRTP) composites market Analysis:
Further key findings from the study suggest:
·
Europe is expected to gain the largest
market share in terms of revenue by 2025, followed by North America
·
North America CFRTP demand from the
automotive segment is expected to grow at highest estimated CAGR of 14.4% from
2016 to 2025
·
The region is characterized by fast-paced
growth of the automobile and construction industries
·
The aerospace & defense application
segment holds the largest market share and in terms of revenue, is expected to
grow at CAGR of 11.5% over the forecast period
·
Increased use of carbon thermoplastics over
metals such as steel and aluminum in lightweight aircraft building has led to
the growth of the application segment
·
Polyacrylonitrile (PAN) is projected to
grow at the highest CAGR owing to its superior properties and extensively
existing capacities
·
The petroleum pitch segment is projected to
grow at a CAGR of 8.8% by volume during the forecast period.
·
Key companies in this market include Toray
Industries, Inc., SGL Group, Hexcel Corporation, Teijin Limited, Mitsubishi
Rayon Co., Ltd., BASF SE, etc.
View more reports
of this category by Grand View Research at: https://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global carbon fiber reinforced
thermoplastic (CFRTP) composites market on the basis of raw material and
application:
Global CFRTP Raw
Material Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
·
Polyacrylonitrile (PAN)
·
Pitch
Global CFRTP
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
·
Automotive
·
Aerospace & Defense
·
Wind Turbines
·
Sports Equipment
·
Construction
·
Marine
·
Others
CFRTP Regional
Outlook (Tons, USD Million, 2014 - 2025)
·
North America
o U.S.
·
Europe
o Germany
o France
o UK
·
Asia Pacific
o Japan
o China
o Taiwan
·
Central & South America (CSA)
o Brazil
·
Middle East & Africa (MEA)
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-carbon-fiber-reinforced-thermoplastic-cfrtp-composites-market
https://www.grandviewresearch.com/press-release/global-carbon-fiber-reinforced-thermoplastic-cfrtp-composites-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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