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The thermoplastic polymer reinforced with carbon fiber is an incredibly strong and lightweight one. They may be costly to manufacture, but are widely used wherever high thermal mass and rigidity (rigidity) are needed. CFRTP, is a composites comprising high-performance fibre, such as carbon fiber, that is castrated in a matrix material such as polycarbonate. CFRTP can be generated in both tape and sheet formats which can be developed later with thermoforming techniques.
Expanded use of CFRTP in the aerospace sectors, due to the multiple properties such as lightweight, simple to build, structural accuracy and resistance to chemical attack, as well as functional thermal stability compared to other traditional materials, such as composite thermosets and metals and alloys has led to driving the market growth of CFRTP. However, problems such as rising cost of raw materials and development, and fierce competition from composite materials, serve as constraints on the growth of the CFRTP industry.
Key Market Driver -
Increased application in aerospace industries drives the market.
Key Market Restraint -
High prices and high competition restrict the market growth
Based on resin type, the market for global CFRTP is further segmented into polyetheretherketone, polyamide, polycarbonate, and polyphenylene sulfide. Based on product type, the market for global CFRTP is further segmented into continuous carbon fiber, long carbon fiber, and short carbon fiber. Based on application, the market for global CFRTP is further segmented into aerospace, automotives, and consumer durables. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global CFRTP market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the global CFRTP market include Solvay S.A, Royal Ten Cate N.V, Teijin Limited, Toray Industries, Inc., SGL Group, Celanese Corporation, Covestro AG, PolyOne Corporation, PlastiComp, Inc., and Aerosud and others.
In terms of Geography, the global CFRTP market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific region dominates the global CFRTP market. North America has the most important market share. The growing demand for CFRTP from the aerospace sector is one of the most important factors propelling the growth of CFRTP market in North America. Due to its superior properties compared to other composites, U.S. aerospace manufacturers use CFRTP to manufacture military aircraft and cargo planes. This has contributed to the growth of the CFRTP market in the North American region. Asia Pacific has a large market share especially with the advent of many domestic companies in combination with rapid population growth, greater investment in the automotive sector additionally people's purchasing power have led to demand growth in these regions. Europe has a market share which is competitive. Attributed to the increasing demand of the product in the automotive sector, the European market has expanded considerably. Owing to the need for lighter produced in different businesses, such as the building, marine and turbine industrial sectors, would strengthen the use of the commodity. The advantages of devices in specific end user industries is pushing the market growth in the Middle East and African regions. Prolonged life cycle and relatively inexpensive resources will drive the growth of GCC countries in the CFRTP industry.
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