Global Carbon Fibre Reinforced Thermoplastic (CFRTP) Composites Market to Grow at a CAGR of 4.2% During the Period 2024-2032, Driven by Demand for Lighter, Thinner, and Aesthetically Competitive Solutions

The global Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market is likely to be driven by applications in sectors such as automobiles, aerospace, wind energy, marine, infrastructure, building and construction, and sports goods, owing to properties of Carbon Fibre Reinforced Thermoplastic (CFRTP), such as low density, superior strength, good impact toughness, high-quality fatigue resistance, recyclable use, fast processing, and low cost of manufacturing. North America, Europe and Asia are expected to be key markets.

Leading companies are constantly engaged in developing innovative solutions in the domain. for example, in 2019, Covestro expanded offerings and capabilities in continuous fibre-reinforced thermoplastic (CFRTP) composites in response to market trends and a growing demand from customers. Maezio™, the company’s brand of CFRTP composites is based on continuous carbon fibres impregnated with thermoplastics like polycarbonates. A new tape line was commissioned in its Leverkusen laboratory to develop new products with different fibre and resin combinations. Their production would be scaled and commercialized at the production site in Markt Bibart in South Germany. With Maezio®, Ensinger Composites Schweiz produces high-quality, lightweight carbon cranks in large quantities through automated production methods at competitive pricing. The Chinese electric vehicle start-up NIO uses Maezio® thermoplastic composites for its matt-look carbon fibre wheel blades on their ES8 and ES6 SUV. Such applications are expected to boost the global Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market.

Using advanced polymer technology, Celanese’s engineered materials business supplies high performance polymers to be employed as thermoplastic matrix materials and combined with a broad range of fibres and additives to produce composites.

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As efforts are made towards tighter limits on vehicle CO2 emissions across the globe, automakers seek technical innovation to decrease CO2, such as by producing lighter-weight cars and developing electric vehicles (EV). In such a scenario, Teijin anticipates growing demand for carbon fibre reinforced plastic (CFRP) replacing high-tension steel and other materials as EVs, hybrid vehicles and other next-generation eco-cars become increasingly common. While conventional CFRP employed thermosetting resin, which hardened when heated (needing several minutes or hours to mould the desired shape), Teijin employs thermoplastic resin, which softens when heated and hardens when cooled down. The resulting CFRP could be press-moulded in a significantly shorter time. Employing this material, Teijin developed the world's first mass production technology capable of moulding a CFRP structural component in a minute. Sereebo®, a registered trademark of Teijin, is a thermoplastic that may offer a revolutionary and sustainable solution to the manufacturing domain.  This is a product brand of carbon fibre composite material (CFRTP) using resin. Sereebo® P series LCF grade is long carbon fibre reinforced hi-strength and hi-rigidity polycarbonate resin for injection moulding. Applications include replacement of metal and weight saving.

In 2019, Teijin Limited announced that its Sereebo carbon fibre reinforced thermoplastic (CFRTP) had been selected by General Motors (GM) for use in select pickup box applications.

In 2020, Teijin announced that its Sereebo® carbon fiber reinforced thermoplastic (CFRTP) had been selected for use in Panasonic Corporation’s newly launched digital 4K video cameras, the HC-X2000 and HC-X1500.

The growing adoption of Carbon Fibre Reinforced Thermoplastic (CFRTP) is expected to stimulate the global Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market.

Key Findings of the Report:

• Properties and applications across sectors, and benefits afforded by Carbon Fibre Reinforced Thermoplastic (CFRTP) are expected to boost the global Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market.

• Sustainable and innovative solutions are likely to stimulate the market. 

• North America, Europe and Asia are projected to be key markets.

Market Analysis by Product Type, Resin Type, Application and Region:

• By product type, the market is segmented into Continuous Carbon Fibre, Long Carbon Fibre, and Short Carbon Fibre.

• By resin type, the market is divided into Polyetheretherketone (PEEK), Polyamide (PA), Polycarbonate (PC), and Polyphenylene Sulfide (PPS). 

• By application, the market is classified into Aerospace, Automotive, Consumer Durables, and Others.

• By region, the market is segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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