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CFRTP Market worth $16.8 billion by 2028 - Exclusive Report by MarketsandMarkets™
PEEK CFRTPs have operational stability at high temperature & pressure and are resistant to impact, making them useful mainly in aerospace applications. PPS CFRTPs exhibit physical strength, resistance to flame & chemicals, and outstanding dimensional precision. Thus, PPS CFRTP produces components such as switches, connectors, alternators, and other components and housings for automotive and consumer goods applications. These factors drive the growth of the global CFRTP market in various applications.
PEEK, PPS, PEI, and PC exhibit numerous advantages that make them suitable for interior components and aerospace structures. Aerospace thermoplastics can often have higher raw material costs than rival thermosets, but because of fewer handling, processing, and assembly expenses, the final component's price can be 20–40% less. By doing away with adhesives and fasteners, thermoplastics also provide the ability to fuse or weld molded subcomponents, which can reduce the assembly weight and stress concentrations.
Capacity expansions, joint ventures, and agreements between various leading market players characterize the market for CFRTP composites in Europe . Europe is home to some of the world's largest automotive and aerospace manufacturers. Airbus is generating a high demand for carbon fiber-reinforced thermoplastics. The company's Superjumbo A380 and A350 are built with large quantities of carbon fiber and composites. The recently released A380 is a large plane of approximately 30 tons/unit of carbon fiber. Many regional car companies, such as BMW (Germany) and Audi (Germany) , now use carbon fiber composites on a significant scale.
Prominent companies in the CFRTP market include Toray Industries, Inc. ( Japan ), Teijin Limited ( Japan ), Mitsubishi Chemical Group Corporation ( Japan ), Solvay ( Belgium ), SGL Carbon (Germany), Avient Corporation (US), Celanese Corporation (US), Asahi Kasei Corporation ( Japan ), RTP Company (US), CompLam Material Co., Ltd. ( Taiwan ), Ensinger (Germany), and Jiangsu QIYI Technology Co., Ltd. ( China ).
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