The global carbon fiber reinforced thermoplastic (CFRTP) composites market is
projected to reach USD 7.74 billion by 2025, as per a new report by Grand View
Research, Inc. The demand for lightweight materials in automobile production,
so as to reduce the overall fuel consumption is splurging the carbon
thermoplastic market demand globally.
Many developed countries such as
the United States, Japan, Germany, etc. have a high concentration of
automobile, aerospace and defense equipment manufacturing companies and so is
the consumption of carbon thermoplastics composites in these regions.
North America is anticipated to
be the largest market for the product on account of the presence of major
aircraft manufacturing giants like Boeing and many other top notch automobile
manufacturers. Europe is expected to witness the highest growth over the
forecast period. The presence of key automotive manufacturers such as BMW,
Volkswagen, Mercedes, Fiat, etc. which emphasizing on building low-weight, fuel
efficient, low emission, environment-friendly cars, has led to the increased consumption
of CFRTP composites in the Europe.
The market is growing and is
composed of several large players. However, product cost is a major challenge
faced by these companies. Key market participants have adopted strategies such
as agreements, joint ventures, partnerships, and alliances so as to sustain the
growing market competition.
Browse full research report on Carbon Thermoplastic
(CFRTP) Composites Market: http://www.grandviewresearch.com/industry-analysis/small-animal-imaging-in-vivo-market
Further key findings from
the study suggest:
- Europe is expected to gain the largest market share
in terms of revenue by 2025, followed by North America
- North America CFRTP demand from the automotive
segment is expected to grow at highest estimated CAGR of 14.4% from 2016
to 2025
- The region is characterized by fast-paced growth of
the automobile and construction industries
- The aerospace & defense application segment holds
the largest market share and in terms of revenue, is expected to grow at
CAGR of 11.5% over the forecast period
- Increased use of carbon thermoplastics over metals
such as steel and aluminum in lightweight aircraft building has led to the
growth of the application segment
- Polyacrylonitrile (PAN) is projected to grow at the
highest CAGR owing to its superior properties and extensively existing
capacities
- The petroleum pitch segment is projected to grow at a
CAGR of 8.8% by volume during the forecast period.
- Key companies in this market include Toray
Industries, Inc., SGL Group, Hexcel Corporation, Teijin Limited, Mitsubishi
Rayon Co., Ltd., BASF SE, etc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global carbon fiber
reinforced thermoplastic (CFRTP) composites market on the basis of raw material
and application:
Global CFRTP Raw Material Outlook (Volume, Tons; Revenue,
USD Million, 2014 - 2025)
- Polyacrylonitrile
(PAN)
- Pitch
Global CFRTP Application Outlook (Volume, Tons; Revenue,
USD Million, 2014 - 2025)
- Automotive
- Aerospace
& Defense
- Wind
Turbines
- Sports
Equipment
- Construction
- Marine
- Others
CFRTP Regional Outlook (Tons, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- France
- UK
- Asia
Pacific
- Japan
- China
- Taiwan
- Central
& South America (CSA)
- Brazil
- Middle
East & Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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