San Francisco, California, May 11, 2017: A recently added report by TMR Research, titled, “CFRTP Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025,” delves deep into different aspects of the market to understand the current competitive dynamics shaping it and its prospects going forward. It estimates its size using historical and current data and also its possible growth rate in the upcoming years.
The global CFRTP Market , acronym for carbon fiber reinforced thermoplastic, is predicted to progress by gigantic strides on account of the increasing concerns over arresting carbon emissions worldwide. This in turn will bring about a spike in demand for fuel-efficient vehicles, which will stoke growth in the CFRTP market. CFRTP’s application in the aerospace sector on account of its light weight, resistance to chemicals and high temperatures, and operational stability, will also push up its demand.
Impeding the global market for CFRTP, on the other hand, is the steep cost of raw materials and manufacture. To overcome the roadblock, companies are funneling money into development of better manufacturing technologies that will help bring down costs.
Having shed light on the growth drivers and restraints, the report goes on to examine the different types of CFRTPs – continuous carbon fiber, long carbon fiber, and short carbon fiber. Among the three, the continuous carbon fiber segment holds out maximum growth opportunities on account of their wide array of applications in automotive, aerospace, and consumer durables sectors. In the near future too, the segment is expected rake in substantial revenues because of its superior strength in comparison to short and long carbon fibers.
Depending upon the types of resins, the key segments of the global market for CFRTP are polyetheretherketone (PEEK), polyamide (PA), polycarbonate (PC), and polyphenylene sulfide (PPS). The key end use segments or applications of CFRTP are aerospace, consumer durables, and automotive. Among them, the automotive segment is predicted to gain maximum market share in the foreseeable future owing to stringent regulations pertaining to vehicular emissions and rising concerns about fuel efficiency which can be achieved by reducing the overall weight of the vehicle with lightweight materials.
From a geographical standpoint, North America is a key CFRTP market that holds out a strong promise of growth. This is primarily because of a sophisticated industrial infrastructure which has stoked the aerospace, consumer durables, and automotive sectors significantly.
To assess the competition prevailing in the global CFRTP market, the report profiles important players such as Aerosud, SGL Group, PolyOne Corporation, Royal TenCate N.V., Toray Industries, Inc., Solvay S.A. and Covestro AG.