Fiber thermoplastics are driven advanced performance fibers, which are fundamentally composite materials like carbon fiber and glass fiber. During later process, these are melted and compressed through casting processes. The global continuous fiber thermoplastic (CFT) market is experiencing a huge growth due to product properties such as good electrical conductivity.
In addition, fiber thermoplastics also provide low moisture absorption, high strength, and low coefficient thermal enlargement. Furthermore, products in the continuous fiber thermoplastic (CFT) market products also provide compound stability and high impact strength. These products are also used in a various industrial applications because of their lightweight and recyclable nature. As a rule of thumb, these products are 20 to 40 percent lighter than aluminum and steel. Thus, the global continuous fiber thermoplastic (CFT) market is seeing a rising demand from the electronics industry, automobile, aerospace and defense, and consumer goods.
COVID-19 Impact analysis
COVID-19 pandemic on a worldwide scale has pushed automakers, wind turbine manufacturers, and aircraft manufacturers to shut down their works, reducing demand for composites in 2020. The pandemic has had an adverse impact on almost every aspect of the composites industry, from product demand to workforce advancement to the deceleration or acceleration of trends that were already afoot when it struck. Customers' and their own temporary production stops, weakened production levels, and demand cut down have all had a significant affect on production processes.
Top Impacting Factors
Rising environmental issues such as global warming are pushing governments to enact tougher rules and regulations to reduce pollution. Presently, passenger vehicles are responsible for nearly 12% vehicle emissions in Europe. The growing emissions of carbon dioxide are anticipated to create new opportunities for acceleration in the continuous fiber thermoplastic (CFT) market.
Fiber thermoplastic make way for lighter and tougher materials. Thus, they meet the center need of creating lightweight and robust builds which are important for reduction of fuel-emission and durable vehicles, respectively. In addition, the European Union has raised the bar for fuel-efficiency with new mark in 2021 for the auto industry. The advent of 3D printing technology and flourishing demand for vehicles due to autonomous driving trends, and IoT technology can also thrust growth for the global continuous fiber thermoplastic (CFT) market.
Market Trends
- Despite an flourishing term of growth in the automotive sector during the past decade, the pace slowed down in recent years. The sales and production of new vehicles are going down in various parts of the globe, which includes Europe, Asia-Pacific, and the United States. This impacted the previously rising automotive production in most nations. Business models, the markets, and the competitive landscape are going through changes. This is proving to be slowing the demand for thermoplastic composites.
- Nonetheless, the development of electric vehicles might continue to gain steady pace in the upcoming years prominently in Europe, China. and United States, where many government programs are looking for a move away from fossil fuels because of the various environmental concerns.
- The continuous fiber thermoplastic (CFT) market is segmented into main regions including North America, Europe, Asia-Pacific, LAMEA. North America region is anticipated to register one of the highest revenue growth in the near future. Rising research in fiber replacements, presence of a large auto industry, and recent economic recovery are foreseen to boost growth. On the other hand, Asia Pacific will emerge with the fastest CAGR during the forecast period. The continuous fiber thermoplastic (CFT) market in Asia-Pacific is anticipated to expand substantially owing to a growing auto manufacturing and research focus in China, growing per capital income, and sturdnew applications of fiber composites.
Key Benefits of the Report
- This study presents the analytical depiction of the continuous fiber thermoplastic (CFT) market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the continuous fiber thermoplastic (CFT) market market share.
- The current market is quantitatively analyzed to highlight the continuous fiber thermoplastic (CFT) market market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed continuous fiber thermoplastic (CFT) market market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the continuous fiber thermoplastic (CFT) market Report
- Who are the leading market players active in the continuous fiber thermoplastic (CFT) market market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Continuous Fiber Thermoplastic (CFT) Market Report Highlights
| Aspects | Details |
 By Material |
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 By Resin Type |
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 By End Use Industry |
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 By Region |
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 Key Market Players | TenCate, Solvay, Kingfa, Celanese, LANXESS, AXIA Materials,, BASF SE, QIYI Technology, TORAY INDUSTRIES, INC., Arkema, PolyStrand, Cytec Solvay Group |
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