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Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market Will Grow at a Healthy 8% Value CAGR through 2031

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Continuous fiber-reinforced thermoplastic composite manufacturers are actively cooperating with their partners to promote their business.

ROCKVILLE, MARYLAND, UNITED STATES, January 22, 2022 /EINPresswire.com/ -- According to Fact.MR’s continuous fiber-reinforced thermoplastic (CFRTP) composites industry analysis, the market was valued at around US$ 900 Million in 2020, and is projected to expand 1.7X to top US$ 1.5 Billion by 2031. North America is set to account for more than 50% market share over the decade.

The Demand of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market study includes the current market scenario on the global platform and also Sales of Continuous Fiber-Reinforced Thermoplastic Composites Market development during the forecast period.

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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

The latest industry analysis and survey on Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites provides sales outlook in 20+ countries, across key categories. Insights and outlook on Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market drivers, trends, and influencing factors are also included in the study.

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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.

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

The report also offers key trends of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market and an in-depth analysis of how the projected growth factors will shape the Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market dynamics in the coming years of the forecast period.

Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market that are developing the current market scenario and which will be lucrative for the future demand of Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market.

Crucial insights in Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites market research report:

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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Country-wise Analysis
What is the Demand Outlook for CFRTP Composites in the U.S.?

The market in the U.S. was valued at over US$ 250 Mn in 2020. Presence of major automobile manufacturers such as Chrysler, Tesla, Ford Motor Company, and General Motors, suitable infrastructure, along with with high disposable income are expected to drive the market in the U.S.

Increasing demand for customized vehicles where composites are utilized to provide desirable specifications and performance is also a major driver for the market. Additionally, growing residential building construction in the United States is also expected to drive demand for CFRTP composites.

Will China Provide Lucrative Opportunities for CFRTP Composite Manufacturers?

By 2031, China is expected to have a market value of roughly US$ 350 Mn. China has shown significant growth in the aerospace industry. Boeing forecasted that China's carriers will need 8,090 new planes through 2038, further raising demand for CFRTP composites.

Even though huge space for growth in the China market exists, quality and technology should be further improved. Due to their own advantages and properties, the market in China looks very promising for the future.

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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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