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 defence 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.
Access Full Research Report on 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.
View Reports from this Category: 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)
View Our Blog on Carbon
Thermoplastic (CFRTP) Composites Market: http://www.grandviewresearch.com/blog/carbon-thermoplastic-cfrtp-composites-market-size-share
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.
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.
Contact:
Sherry
James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For more Information visit us: www.grandviewresearch.com