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 Global Carbon Thermoplastic (CFRTP) Composites Market: http://www.grandviewresearch.com/industry-analysis/carbon-fiber-reinforced-thermoplastic-cfrtp-composites-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.
Read our blogs – http://www.grandviewresearch.com/blog/carbon-thermoplastic-cfrtp-composites-market-size-share
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.
For more information: www.grandviewresearch.com
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