The Global CFRTP Market to grow from USD 8.21 billion in 2022 to USD 18.32 billion by 2030, at a CAGR of 10.54%.

PUNE, MAHARASHTRA, INDIA , December 7, 2023 /EINPresswire.com/ -- The "CFRTP Market by Resin Type (Polyamide (PA), Polycarbonate (PC), Polyetheretherketone (PEEK)), Product Type (Continuous Carbon Fiber, Long Carbon Fiber, Short Carbon Fiber), Application - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global CFRTP Market to grow from USD 8.21 billion in 2022 to USD 18.32 billion by 2030, at a CAGR of 10.54%.

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Continuous Fiber Reinforced Thermoplastic Composites (CFRTP) are advanced materials characterized by the combination of a thermoplastic matrix with continuous fibers. These composites are gaining immense popularity across various industries due to their outstanding strength-to-weight ratio, design flexibility, and recyclability. The CFRTP market is rapidly evolving, propelled by the rising demand from sectors such as automotive, aerospace, and consumer electronics. These industries seek to leverage the lightweight and durable nature of CFRTPs for fuel efficiency and enhanced product performance. However, the high cost of raw materials associated with CFRTP may create a hindrance to market growth. High processing temperature issues with CFRTP limit the adoption across the industries. Furthermore, advancements in technology and an intensifying focus on sustainability are crucial opportunities for CFRTP adoption. The ability to recycle these materials aligns well with global efforts to reduce environmental impact and promote circular economy practices.

Resin Type: Increasing usage of polyamide (PA) due to its ability to withstand dynamic loads
Polyetheretherketone (PEEK) offers excellent mechanical strength, high-temperature resistance, and chemical resistance. Polyetheretherketone (PEEK) is used in aerospace, automotive, and medical industries where elevated temperatures and harsh chemical environments are common. Polyamide (PA) provides good strength, toughness, and impact resistance. It is known for its wear resistance and ability to withstand dynamic loads. It is commonly used in automotive components, consumer goods, and industrial applications due to its balance of mechanical properties. Polycarbonate (PC) offers high impact resistance, optical clarity, and flame retardancy. It is also known for its excellent dimensional stability. Polycarbonate (PC) is used in industries such as electronics, automotive, and aerospace for components requiring transparency, impact resistance, and flame retardancy. Polyphenylene Sulfide (PPS) provides high-temperature resistance, chemical resistance, and good dimensional stability. It is also inherently flame retardant. Polyphenylene Sulfide (PPS) is commonly employed in automotive and electrical applications, particularly where resistance to heat and harsh chemicals is crucial.

Application: Emerging application of CFRTP composites in the automotive industry to reduce the weight of vehicles
CFRTP composites are extensively utilized in the aerospace & defense sectors for their exceptional strength-to-weight ratio, high stiffness, and impact resistance. They are employed in structural components of aircraft, such as fuselage sections, interior panels, and components requiring lightweight and durable materials. In the automotive industry, CFRTP composites are employed to reduce the weight of vehicles, enhancing fuel efficiency and overall performance. These composites find application in components such as body panels, interior parts, and structural elements. The high strength and lightweight nature of CFRTP contribute to improved fuel economy and reduced environmental impact. CFRTP composites are used in consumer electronics for their versatility and aesthetic appeal. They are molded into intricate shapes, providing design flexibility for casings, covers, and structural components of devices such as laptops, smartphones, and wearables. The material's durability and lightweight properties contribute to the overall quality of consumer electronic products.

Product Type: Growing adoption of long carbon fibers in automotive components and sports equipment
Continuous carbon fibers are long, unbroken strands embedded in the thermoplastic matrix. Continuous carbon fibers provide high tensile strength, stiffness, and fatigue resistance. Continuous carbon fibers are used in applications requiring structural integrity, such as aerospace components and automotive parts. Long carbon fibers are shorter than continuous fibers and longer than short fibers, typically in the range of 6 to 12 mm. Long carbon fibers offer a balance between strength and processability, providing good impact resistance and stiffness. Long carbon fibers are used in automotive components, sports equipment, and industrial applications where a combination of strength and molding flexibility is required. Short carbon fibers are typically less than 0.3 mm in length and are often randomly oriented in the matrix. Short carbon fibers provide improved impact resistance, processability, and cost-effectiveness compared to longer fibers. Short carbon fibers are widely used in injection-molded parts for automotive, consumer goods, and electronics, where complex shapes and cost efficiency are important.

Regional Insights:
The American region demonstrates a robust demand for Continuous Fiber Reinforced Thermoplastic Composites (CFRTP), primarily attributed to the strong presence of aerospace, defense, and automotive industries in this region. Additionally, initiatives in the American region focus on reducing vehicle emissions, further propelling the demand for CFRTPs. Countries, including Canada and Mexico, contribute to the market with their industries adopting CFRTPs for applications in transportation, sporting goods, and construction. In Europe, stringent environmental regulations and a prominent automotive industry significantly influence the CFRTP market. The European aerospace sector, with key players, drives the CFRTP market. Additionally, European countries are expected to show increased demand as their manufacturing capabilities grow and integrate with supply chains. Europe's commitment to sustainability and reduced carbon footprint is likely to increase the uptake of CFRTPs in various applications. APAC region growth is mainly driven by increasing industrialization, the rise in manufacturing activities, and the substantial growth of the automotive sector in countries like China, Japan, South Korea, and India. China. Governmental policies encourage the production of lightweight materials for consumer electronics, automotive, and aerospace industries. Furthermore, the region's emphasis on infrastructure development and the burgeoning demand for high-performing materials in various applications contribute to the growth of CFRTPs in the Asia-Pacific market.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the CFRTP Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the CFRTP Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the CFRTP Market, highlighting leading vendors and their innovative profiles. These include AEROSUD, Asahi Kasei Corporation, Avient Corporation, BÜFA Thermoplastic Composites GmbH & Co. KG, Celanese Corporation, CompLam Material Co., Ltd., DuPont de Nemours, Inc., Ensinger GmbH, Gurit Holding AG, Hexcel Corporation, Iwatani Corporation, Jiangsu Hengshen Co., Ltd., Mitsubishi Chemical Group Corporation, Okutani Ltd., Reinforced Plastic Industries, RTP Company, Saudi Basic Industries Corporation, SGL Group, Solvay S.A., SONOTEC Co., ltd., TIP composite Co., Ltd., Toray Industries, Inc., and Zhongfu Shenying Carbon Fiber Co., Ltd..

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Market Segmentation & Coverage:

This research report categorizes the CFRTP Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Resin Type, market is studied across Polyamide (PA), Polycarbonate (PC), Polyetheretherketone (PEEK), and Polyphenylene Sulfide (PPS). The Polycarbonate (PC) is projected to witness significant market share during forecast period.

Based on Product Type, market is studied across Continuous Carbon Fiber, Long Carbon Fiber, and Short Carbon Fiber. The Long Carbon Fiber is projected to witness significant market share during forecast period.

Based on Application, market is studied across Aerospace & Defense, Automotive, and Consumer Electronics. The Automotive is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.23% in 2022, followed by Europe, Middle East & Africa.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. CFRTP Market, by Resin Type
7. CFRTP Market, by Product Type
8. CFRTP Market, by Application
9. Americas CFRTP Market
10. Asia-Pacific CFRTP Market
11. Europe, Middle East & Africa CFRTP Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the CFRTP Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the CFRTP Market?
3. What is the competitive strategic window for opportunities in the CFRTP Market?
4. What are the technology trends and regulatory frameworks in the CFRTP Market?
5. What is the market share of the leading vendors in the CFRTP Market?
6. What modes and strategic moves are considered suitable for entering the CFRTP Market?

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Mr. Ketan Rohom
360iResearch
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ketan@360iresearch.com

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