Carbon Fiber Reinforced Thermoplastic Composite Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Carbon Fiber Reinforced Thermoplastic Composite Market Analysis
The global carbon fiber reinforced thermoplastic composite market is expected to grow at with a CAGR greater than 5% during the forecast period. One of the major factors driving the market is the growing demand from construction sector. However, lack of availability and volatility of raw materials are likely to hinder the growth of the market studied.
- The innovation of floating wind turbine is expected to provide a major growth opportunity for the market studied.
- North America accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
- Among the raw materials, polyacrylonitrile accounted for the highest market and is expected to dominate the market studied over the forecast period.
Carbon Fiber Reinforced Thermoplastic Composite Market Trends
This section covers the major market trends shaping the Carbon Fiber Reinforced Thermoplastic Composite Market according to our research experts:
Polyacrylonitrile (PAN) Raw Material Type to Dominate the Market
- Polyacrylonitrile (PAN), owing to its superior properties, is used more than petroleum pitch as raw material for producing CFRTP composite. PAN is a precursor polymer which is used in producing the carbon filament of CFRTP.
- The CFRTP composites produced from PAN, which finds wide application in various industries, such as aerospace, automotive, construction, sports equipment, etc.
- The growing demand from end-user industries like construction and sports equipment is boosting the demand for PAN-based CFRTP.
- Hence, owing to the above-mentioned factors, PAN to dominate the market during the forecast period.
North America to Dominate the Market
- North America is expected to witness strong growth for CFRTP owing to the growing demand from major aircraft producers, such as Boeing and others.
- There has been a increasing production of single-aisle airplanes by Boeing in North America which is likely to drive the market studied in the region.
- Additionally, the growing residential building construction in the United States is also expected to drive the demand for CFRTP in the region.
- Hence, owing to the above-mentioned trends in the end-user industries, North America is likely to dominate the forecast period.
Carbon Fiber Reinforced Thermoplastic Composite Industry Overview
The carbon fiber reinforced thermoplastic (CFRTP) composite market is moderately fragmented as the market share is divided between many players. Key players in the market include TORAY INDUSTRIES, INC., BASF SE, Solvay, SABIC, and Celanese Corporation, among others.
Carbon Fiber Reinforced Thermoplastic Composite Market Leaders
TORAY INDUSTRIES, INC.
Celanese Corporation
Solvay
BASF SE
SABIC
*Disclaimer: Major Players sorted in no particular order
Carbon Fiber Reinforced Thermoplastic Composite Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand From the Construction Sector
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Issues Related to Availability and Volatile Prices of Raw Materials
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4.2.2 Other Restraints
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4.3 Industry Value-chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Raw Material
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5.1.1 Polyacrylonitrile (PAN)-Based CFRTP
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5.1.2 Pitch-Based CFRTP
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5.1.3 Other Raw Materials
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5.2 Resin
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5.2.1 Polyether Ether Ketone (PEEK)
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5.2.2 Polyurethane (PU)
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5.2.3 Polyethersulfone (PES)
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5.2.4 Polyetherimide (PEI)
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5.2.5 Other Resins
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5.3 End-user Industry
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5.3.1 Aerospace & Defence
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5.3.2 Automotive
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5.3.3 Construction
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5.3.4 Electrical & Electronics
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5.3.5 Marine
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5.3.6 Sports Equipment
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5.3.7 Wind Turbines
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5.3.8 Other End-user Industries
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 ASEAN Countries
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5.4.1.6 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East and Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 BASF SE
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6.4.2 Celanese Corporation
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6.4.3 Dupont
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6.4.4 Gurit
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6.4.5 Hexcel Corporation
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6.4.6 Mitsubishi Chemical Corporation
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6.4.7 PolyOne Corporation
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6.4.8 Quickstep
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6.4.9 SABIC
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6.4.10 SGL Carbon
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6.4.11 Solvay
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6.4.12 Teijin Limited
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6.4.13 TORAY INDUSTRIES, INC.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Innovation of Floating Wind Turbine
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Carbon Fiber Reinforced Thermoplastic Composite Industry Segmentation
The carbon fiber reinforced thermoplastic composite market report include:
| Raw Material | |
| Polyacrylonitrile (PAN)-Based CFRTP | |
| Pitch-Based CFRTP | |
| Other Raw Materials |
| Resin | |
| Polyether Ether Ketone (PEEK) | |
| Polyurethane (PU) | |
| Polyethersulfone (PES) | |
| Polyetherimide (PEI) | |
| Other Resins |
| End-user Industry | |
| Aerospace & Defence | |
| Automotive | |
| Construction | |
| Electrical & Electronics | |
| Marine | |
| Sports Equipment | |
| Wind Turbines | |
| Other End-user Industries |
| Geography | ||||||||
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Carbon Fiber Reinforced Thermoplastic Composite Market Research FAQs
What is the current Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market size?
The Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market?
TORAY INDUSTRIES, INC., Celanese Corporation , Solvay , BASF SE and SABIC are the major companies operating in the Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market.
Which is the fastest growing region in Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market?
In 2024, the North America accounts for the largest market share in Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market.
What years does this Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market cover?
The report covers the Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
CFRTP Composite Industry Report
Statistics for the 2024 CFRTP Composite market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. CFRTP Composite analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
