Carbon Fiber Reinforced Thermal Plastics Market to See Strong Growth and Business Opportunities

The global carbon fiber reinforced thermal plastics (CFRTP) market is expected to grow during the forecast period (2017-2023) due to increasing demand for fuel-efficient vehicles and the flexibility to mold CFRTP into complex shapes and designs. Additionally, the increasing use of CFRTP in automotive, aerospace and consumer applications is expected to drive the growth of global CFRTP market during the forecast period. Moreover, the minimal maintenance costs and rapid urbanization is expected to further spike the demand for CFRTP during the forecast period.

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The global market for CFRTP is segmented by resin type, product type, application and geography. By resin type, the CFRTP market is segmented into Polyetheretherketone (PEEK), Polyamide (PA), Polycarbonate (PC) and Polyphenylene Sulphide (PPS). PEEK market has projected a considerable growth during the forecast period for their high temperature operational stability and high impact resistance.

North America is estimated to be the fastest-growing market for CFRTP during the forecast period owing to the rapid urbanization and industrialization. Companies such as Airbus S.A and Boeing utilize CFRTP for the manufacturing of combat and cargo transport aircraft, which is expected to further contribute to the overall market in the region.

The major challenge faced with the CFRTP market is the high cost of the raw materials and manufacturing costs, coupled with stiff competition from thermoset composite manufacturers.

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The key companies operating in the CFRTP market are Solvay Group, Teijin Limited, SGL Group, Celanese Corporation, Toray industries, Inc., Koninklijke Ten Cate, PolyOne, PlastiComp, Aerosud and Covestro AG.

Market Segmentation

By Resin Type

  • Polyetheretherketone (PEEK)
  • Polyamide (PA)
  • Polycarbonate (PC)
  • Polyphenylene Sulfide (PPS)
  • Others

By Product Type

  • Continuous carbon fiber
  • Long carbon fiber
  • Short carbon fiber

By Application

  • Aerospace
  • Automotive
  • Consumer durables
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Austria
    • Sweden
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Malaysia
    • Taiwan
    • South Korea
    • Rest of Asia-Pacific
  • Middle East and Africa
    • Israel
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America