Carbon Thermoplastic Composites Market Overview 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.
Global top 10 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.).
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- Carbon thermoplastic composites manufacturers
- Traders and distributors of carbon thermoplastic composites
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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
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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.
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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