Carbon Thermoplastic Composites Market |Trends, Size, Top 10 Key Players & Forecast to 2023

Carbon thermoplastic (CFRTP) composites are extremely strong and light fiber-reinforced plastic containing carbon fibers. This type of composites exhibits superior properties such as high strength to weight ratio, rigidity, and good chemical resistance properties, which is responsible for its application in the major end-use industries such as aerospace & defense, automotive, construction, and sports.

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Key Players

Some of the key players in the global carbon thermoplastic composites market are DowAksa (Turkey), Cytec Solvay Group (U.S.), TORAY INDUSTRIES, INC. (Japan), SGL Group (Germany), Hexcel Corporation (U.S.), TEIJIN LIMITED (Japan), Mitsubishi Chemical Holdings Corporation (Japan), HYOSUNG (South Korea), Gurit (Switzerland), Plasan Carbon Composites (U.S.), Koninklijke Ten Cate (Netherland), Teijin Carbon Europe GmbH (Japan), and ZOLTEK (U.S.).

Growing aerospace & defense industry is driving the CFRTP market growth globally. The product demand is increasing for single-aisle jets, fabrication of structural and interior parts of aircraft, and defense equipment. Rising demand for commercial aircraft is fuelling the product demand. Major military power countries such as India, China, and Russia are heavily investing in deterrence. Furthermore, the International Committee on Aviation Environmental Protection approved an airplane fuel efficiency standard in 2016, which is to be applied to every airplane before delivery from 2020 for new type cert application and for all in-production airplanes by 2028. The global CFRTP composites demand from the automotive industry is increasing at a staggering rate due to light weight, fire resistance, and high impact strength. CFRTP composites are being increasingly used in the manufacturing of vehicles in order to reduce the extent of carbon emissions in the environment.

Intended Audience

Carbon thermoplastic composites manufacturers
Traders and distributors of carbon thermoplastic composites
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratory
Toc of Company Profiles

11.1 DowAksa

11.1.1 Company Overview

11.1.2 Raw Material/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 Cytec Solvay Group

11.2.1 Company Overview

11.2.2 Raw Material/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 TORAY INDUSTRIES, INC.

11.3.1 Company Overview

11.3.2 Raw Material/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 SGL Group

11.4.1 Company Overview

11.4.2 Raw Material/Business Segment Overview

11.4.3 Financial Updates

............to be continue............

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Regional Analysis

North America accounted for the largest market share for carbon thermoplastic composites in 2016. The growth of the carbon thermoplastic composites market in this region is attributed to the growing demand from the aerospace and automotive industry due to the growing demand for fuel-efficient products to reduce the environmental issues. Growing marine industry is also driving the market growth as a result of increasing demand for lightweight products by the U.S. Federal Government. Increasing use of renewable energy due to fluctuating crude oil prices is propelling the market for CFRTP in this region.

Europe is another prominent market for the CFRTP due to increasing R&D in the aerospace & defense industry for expanding the scope of aerospace industry beyond LLC products. Targets set by the European Union to reduce the level of carbon emission by the vehicles is expected to boost the product demand in this region.

Rapid heat and cool press molding technology developed by Toho Tenax in 2016 can produce CFRTP in 4 minute cycle time, thereby reducing the processing time and enabling high-performance volume. Japan-based Toray Industries Inc. is set to acquire Netherland based Koninklijke Ten Cate bv’s unit “TenCate Advanced Composites in 2018. This move has been taken by the Toray firm to accelerate growth and expand its high-performance composites offering while benefitting from the revenue synergies. Increasing use of CFRTP composites in place of metals due to competitiveness and cost-effectiveness is driving the market growth globally.

Segmentation

The global carbon thermoplastic composites market is segmented into raw material, application, and region. On the basis of the raw material, the market is divided into PAN-based and PITCH-based. Based on the application, the global carbon thermoplastic composites are segregated into aerospace & defense, automotive, wind turbines, sports equipment, construction, and marine. Geographically, the market is divided into five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

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