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The Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market is expected to grow at a CAGR of 4.2% during the period 2024-2032. The market is likely to be driven by uses in sectors such as automobiles and aerospace 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.
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Carbon fibre is a promising lightweight material characterized by high-strength, high-temperature resistance, and good chemical resistance. It is non-toxic and low-density, and exhibits high wear resistance. Further, it is non-corrosive and recyclable and possesses a good strength-to-weight ratio. It has outstanding thermal, mechanical, and electrical properties. Carbon fibre reinforced polymer matrix composite products are extensively employed in multiple applications owing to their excellent thermal, structural, mechanical, electrical, and tribological properties; applications include uses in aerospace, wind energy, marine, automobile, infrastructure, building and construction, and sports goods.
CFRP refers to Carbon Fibre Reinforced Polymer/Plastic and represents a group of plastics reinforced with carbon fibres for high strength and stiffness and reduced weight. Plastics capable of being reinforced with carbon fibres may be placed under two main groups - thermoset and thermoplastics. CFRTP refers to Carbon Fibre Reinforced Thermoplastics which is a subgroup within the CFRP material group. Thermoplastics reinforced with carbon fibres display characteristics different from those exhibited by carbon fibre reinforced thermosets. Thermoplastics may be recycled and are suited to the circular economy model. Aforementioned properties and advantages are expected to boost the global Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market.
Carbon Fibre Reinforced Thermoplastics (CFRTPs) are generally manufactured with the help of conventional moulding approaches, including injection, rotational, extrusion, vacuum, and compression mouldings. Carbon Fibre Reinforced Thermoplastic (CFRTP) has attracted significant study due to its outstanding mechanical and thermal properties, recyclability, flexibility, less production time, and environmentally-friendly. The key thermal properties of Carbon Fibre Reinforced Thermoplastic (CFRTP) include thermal stability, thermal conductivity, melting temperature, and glass transition temperature. Properties of Carbon Fibre Reinforced Thermoplastic (CFRTP) may be enhanced or altered on the basis of materials and methods to be used. By enhancing thermal properties, Carbon Fibre Reinforced Thermoplastic (CFRTP) becomes more suited to meet the demands of different high-temperature sectors such as aerospace, oil, and gas.
Carbon Fibre Reinforced Thermoplastic (CFRTP) composite materials are becoming an increasingly used class of lightweight materials, making Carbon Fibre Reinforced Thermoplastic (CFRTP) is a promising alternative in multiple industrial applications. Properties like low weight, high strength, and good thermal and electrical properties make Carbon Fibre Reinforced Thermoplastic (CFRTP) a preferred composite material as compared to neat polymers, CFRPs, and other metallic materials. Anti-fatigue, anti-aging, and creep resistance are other key advantages. Carbon Fibre Reinforced Thermoplastic (CFRTP) may partially substitute expensive engineering plastics and CFRP material products; it may also partially replace lightweight metal materials (like aluminium-magnesium alloys).
Advanced Carbon Fibre Reinforced Thermoplastic (CFRTP) and thermoplastic composites are one of the fastest-growing technologies in the international composite material domain; organizations have invested heavily towards research, development, and application. Advanced carbon fibre composite materials (including CFRP and CFRTP) offer several advantages to the automotive and parts manufacturing industry in terms of lighter weight (results in improved energy saving, acceleration, and braking performance), safety (weight reduction of the vehicle body may shift the centre of gravity of the vehicle lower and enhance steering stability), comfort, reliability and enhanced body development level. Considering the application of Mercedes-Benz, BMW, Audi and other high-end automotive companies in the product line, the application of new Carbon Fibre Reinforced Thermoplastic (CFRTP) materials in automobiles is expected to drive the market.
Carbon Fibre Reinforced Thermoplastic (CFRTP) is being used in the manufacturing of aircraft. For example, in 2019, Teijin Limited announced that the A350 XWB aircraft, Airbus's new-generation extra-wide-body midsize jetliner using Teijin's Tenax TPCL carbon fibre thermoplastic consolidated laminate, was delivered to Japan Airlines (JAL). Such applications are expected to boost market growth.
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By product type, the market is segmented into:
By resin type, the market is divided into:
By application, the market is classified into:
By region, the market is segmented into:
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The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Resin Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market is projected to grow at a CAGR of 4.2% between 2024 and 2032.
The major drivers of the market include the increase in consumer awareness towards pollution free and efficient vehicles, growth in the global aviation sector, strict government rules, and rising demand for CFRTP as an alternative to metals such as steel and aluminium.
The growing uses in sectors, such as automobiles and aerospace, owing to properties of Carbon Fibre Reinforced Thermoplastic (CFRTP) and the increasing demand for lightweight automotive material are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types of products are continuous carbon fibre, long carbon fibre, and short carbon fibre.
Based on resin type, the market is divided into polyetheretherketone (PEEK), polyamide (PA), polycarbonate (PC), and polyphenylene sulfide (PPS).
The major applications are aerospace, automotive, and consumer durables, among others.
The major players in the industry are Covestro AG., Celanese Corporation, Teijin Limited, Toray Industries, Inc., and SGL Carbon SE, among others.
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