CFRTP Market worth $16.8 billion by 2028 | Key players Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Solvay (Belgium), SGL Carbon.

According to recent market research the "CFRTP Market by Product Type (Continuous, Long, Short), Resin Type (PA, PEEK, PPS, PC, PP), Application (Aerospace & Defense, Consumer Electronics, Transportation), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028", is estimated at USD 8.9 billion in 2023 and is projected to reach USD 16.8 billion by 2028, at a CAGR of 13.5% from 2023 to 2028. CFRTP is produced using a combination of carbon fiber and thermoplastic resin, along with additives and pigments. It is used in aerospace, automotive, consumer durables, and other industries. Polyamide, polyether ether polycarbonate, and polyphenylene sulfide are key resins used to manufacture CFRTP. CFRTP is lightweight, easy to construct, dimensionally stable, and resistant to chemicals and corrosion. Due to these properties, CFRTP has an increased lifecycle that leads to low maintenance costs compared to traditional materials such as steel and other metallic alloys.

Browse 180 market data Tables and 60 Figures spread through 275 Pages and in-depth TOC on "CFRTP Market - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/cfrtp-market-231422461.html

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.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=231422461

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).

Request Sample Pages @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=231422461

Toray Industries, Inc. is a multinational corporation that specializes in industrial products involving organic chemistry, polymer chemistry, and biochemistry techniques. The company operates through Fibers & Textiles, Carbon Fiber Composite Materials, Environment & Engineering, Life Sciences, and other segments. Through its Carbon Fiber Composite Materials business segment, Toray offers carbon fiber and carbon fiber thermoplastic products. It also offers its reinforced thermoplastic composite products via subsidiaries such as Toray Advanced Composites and Toray Performance Materials Corporation. The company acquired Zoltek (US), which is a prominent carbon fiber manufacturer in North America.

Teijin Limited produces and sells goods and services in the fields of information & electronics, transportation, environment & energy, safety & protection, and healthcare. The company operates through Materials, Healthcare, Fibers & Products Converting, Information Technology, and other segments. Through its Materials and Fiber & Products Converting segments, Teijin offers carbon fiber composites and intermediate carbon fibre products. It manages its carbon fibre business through its subsidiary, Toho Tenax Co., Ltd.

Make an Enquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=231422461

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/cfrtp.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/cfrtp-market.asp

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.