Global Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market, By Resin Type (Polyetheretherketone (PEEK), Polyamide (PA), Polycarbonate (PC), Polyphenylene Sulfide (PPS)), Product Type (Carbon Fiber, Long Carbon Fiber and Short Carbon Fiber), Applications (Aerospace, Automotive and Consumer Durables) - Industry Trends and Forecast to 2023 to 2030.
Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market Analysis and Size
CFRTP or carbon fiber-reinforced thermoplastic refers to a strong material that is made of lightweight fibrous plastic. The material is widely utilized in various applications across automotive and aerospace sector, among others. They are required in automotive applications as weight loss is crucial for optimizing efficiency and enhancing performance.
The surge in demand for light weight vehicles across the globe acts as one of the major factors driving the growth of carbon fiber reinforced thermoplastic composites (CFRTP) market. The rise in demand for the material across aerospace, defense, and energy and power industries for excellent performance characteristics at very high temperatures, and high inclination towards CFRTP owning to their functional stability accelerate the market growth. The rise in awareness among population towards pollution fee and efficient vehicles, and high usage of the material to optimize efficiency in automotive applications further influence the market. In addition, rapid urbanization and industrialization, expansion of end-use industries, surge in investments and research and development activities positively affect the carbon fiber reinforced thermoplastic composites (CFRTP) market.
Data Bridge Market Research analyses that the global carbon fiber reinforced thermoplastic composites (CFRTP) market which was USD 895.83 million in 2022, is expected to reach USD 1867.05 million by 2030, and is expected to undergo at a CAGR of 4.9% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Resin Type (Polyetheretherketone (PEEK), Polyamide (PA), Polycarbonate (PC), Polyphenylene Sulfide (PPS)), Product Type (Carbon Fiber, Long Carbon Fiber and Short Carbon Fiber), Applications (Aerospace, Automotive and Consumer Durables)
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
|
|
Market Players Covered
|
LANXESS (Germany), Solvay (Belgium), PolyOne Corporation (U.S.), RTP Company (U.S.), Celanese Corporation (U.S.), Avient Corporation (U.S.), Daicel Corporation (Japan), Sumitomo Bakelite Co., Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), PPG Industries, Inc. (U.S.), Asahi Kasei Corporation (Japan), SABIC (Saudi Arabia), Owens Corning (U.S.), TORAY INDUSTRIES, INC (Japan), BASF SE (Germany), SGL Carbon (Germany), SKYi Composites Pvt. Ltd. (India), Great Eastern Resins Industrial Co. Ltd. (Taiwan), JNC Corporation (Japan) among others
|
|
Market Opportunities
|
|
Market Definition
Carbon fiber reinforced thermoplastic composites (CFRTP) are advanced composite materials made by combining carbon fiber reinforcements with a thermoplastic resin matrix. These composites are known for their high strength-to-weight ratio, stiffness, durability, and versatility in various engineering and industrial applications.
Global Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market Dynamics
Drivers
- Increasing Weight Reduction and Fuel Efficiency
In industries such as automotive and aerospace, there is a strong emphasis on reducing the weight of vehicles and aircraft to improve fuel efficiency and reduce emissions. CFRTP composites are known for their lightweight properties, making them a desirable choice for applications where weight reduction is critical.
- High Strength and Stiffness
CFRTP materials offer a high strength-to-weight ratio and exceptional stiffness. These properties are essential for components that require structural integrity, such as aircraft fuselages, automotive chassis, and sporting equipment. As industries demand stronger and lighter materials, CFRTP composites become increasingly attractive.
- Environmental Regulations
Stringent environmental regulations and emissions standards are pushing industries to adopt lightweight and sustainable materials. CFRTP composites align with these regulations by reducing the overall weight of vehicles and improving energy efficiency, leading to reduced carbon emissions.
Opportunities
- Recyclability and Sustainability
CFRTP materials that are recyclable or made from sustainable sources offer opportunities in industries where environmental sustainability is a priority. The ability to recycle and reuse CFRTP composites aligns with circular economy initiatives.
- Advanced Manufacturing Techniques
Continued advancements in manufacturing technologies, such as automated layup processes and 3D printing, can make CFRTP materials more cost-effective and accessible. This can drive market growth by reducing production costs and expanding the range of feasible applications.
Restraints/Challenges
- High Cost of Materials
CFRTP materials can be relatively expensive compared to traditional materials such as steel, aluminum, or even some thermoset composites. This cost differential can be a significant barrier, particularly for industries with tight budgets, such as construction and infrastructure.
- Complex Manufacturing Processes
CFRTP composites often require specialized manufacturing processes, which can be complex and require skilled labor. This complexity can result in higher production costs and longer lead times.
This global carbon fiber reinforced thermoplastic composites (CFRTP) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global carbon fiber reinforced thermoplastic composites (CFRTP) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2019, PolyOne Corporation launched new thermoplastic composite products at CHINAPLAS. The company Introduced complete LFT formulation
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market Scope
The carbon fiber reinforced thermoplastic composites (CFRTP) market is segmented on the basis of resin type, product type and applications. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
Resin Type
- Polyetheretherketone (PEEK)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyphenylene Sulfide (PPS)
Product Type
- Continuous Carbon Fiber
- Long Carbon Fiber
- Short Carbon Fiber
Applications
- Aerospace
- Automotive
- Consumer durables
Global Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market Regional Analysis/Insights
The carbon fiber reinforced thermoplastic composites (CFRTP) market is analyzed and market size, volume information is provided by resin type, product type and applications as referenced above.
The countries covered in the global carbon fiber reinforced thermoplastic composites (CFRTP) market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the carbon fiber reinforced thermoplastic composites (CFRTP) market due to the presence of prominent aircraft manufacturers and high vehicle production within the region. Europe is expected to be the fastest growing market during the forecast period because of the stringent laws and regulations regarding vehicle emissions in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market Share Analysis
The global carbon fiber reinforced thermoplastic composites (CFRTP) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to global carbon fiber reinforced thermoplastic composites (CFRTP) market.
Some of the major players operating in the global carbon fiber reinforced thermoplastic composites (CFRTP) market are:
- LANXESS (Germany)
- Solvay (Belgium)
- PolyOne Corporation (U.S.)
- RTP Company (U.S.)
- Celanese Corporation (U.S.)
- Avient Corporation (U.S.)
- Daicel Corporation (Japan)
- Sumitomo Bakelite Co., Ltd. (Japan)
- Mitsubishi Chemical Corporation (Japan)
- PPG Industries, Inc. (U.S.)
- Asahi Kasei Corporation (Japan)
- SABIC (Saudi Arabia)
- Owens Corning (U.S.)
- TORAY INDUSTRIES, INC (Japan)
- BASF SE (Germany)
- SGL Carbon (Germany)
- SKYi Composites Pvt. Ltd. (India)
- Great Eastern Resins Industrial Co. Ltd. (Taiwan)
- JNC Corporation (Japan)
SKU-