Global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites Market: Overview
An impressive compound annual growth rate is set to be noted in the global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites market over the assessment period of the upcoming report on this market – 2020 to 2030. As per Transparency Market Research, which undertook a comprehensive study to prepare an in-depth analysis of growth dynamics marking this landscape, states that over this period the market will witness new and attractive opportunities emerge. These will help the players to chart higher growth and the market worth to reach a higher valuation. A number of trends and drivers are helping the market.
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Global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites Market: Notable Developments
The vendor landscape of global fiber reinforced thermoplastic (CRFTP) composites market is marked by presence of few strong players and that makes it a consolidated landscape. There is high value chain integration among the key players. Few leading players that have set benchmarks in the market are:
- TORAY INDUSTRIES, INC.
- BASF SE
- Solvay
- SABIC
- SGL Group
- Hexcel Corporation
- Teijin Limited
- Mitsubishi Rayon Co., Ltd.
- Celanese Corporation
A number of organic and inorganic measures are being added to the overall growth strategies. Collaborations, partnerships, joint ventures and synergistic mergers form key elements of such measures. A major focus of top market players is on recuing costs involved in production to bring down product price.
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Global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites Market: Key Trends and Drivers
A number of factors such as planning and implementing strict emission norms by governments across the world, extensive research and development in the field, and growing focus on innovation are helping the global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites Market stay on a notable growth curve over the forecast period of 2020 to 2030. A glimpse into some of the prominent ones are identified and explained by Transparency Market Research in its upcoming market report can be had below:
- Owing to lower weight, strong impact strength, and better fire resistance, the carbon fiber reinforced thermoplastic composites are preferred in automotive and aerospace industry. It is quite pertinent to note here that fuel efficiency is better if kerb weight is low and that therefore growth in these sectors is set to drive growth in the global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites market over the forecast period, propelling the market on a higher curve.
- Growth in construction volumes is paving way for higher demand of Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites over the forecast period, taking the growth trajectory higher in a notable way. It does not comprise as a surprise considering by 2030, volumes in construction will see an increase of about 85%. Majority of the growth would be accounted for by Japan, India and the U.S.
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Global Carbon Fiber Reinforced Thermoplastic (CRFTP) Composites Market: Regional Analysis
Massive share of the global carbon fiber reinforced thermoplastic (CRFTP) composites market will be held by the North American region. Large number of aircraft makers and defense instruments manufacturers are present in the region. This is a notable growth factor in the region. Europe will grow at a tremendous pace over the stated forecast. And, it is pertinent to point out here that factors that will help Europe stay on a steady trajectory are strict law and regulations controlling emissions. Additionally, manufacturers in the region have directed dedicated efforts to reach this goal.
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