Carbon
thermoplastic composites (CFRTP) can be produced using PAN-based
(polyacrylonitrile) or PITCH-based raw material. Polyacrylonitrile is
widely used because it provides strength and stiffness to the CFRTP
composites. CFRTP finds application in various industries such as
aerospace & defense, automotive, wind turbines, construction, and
marine. These composites are widely used in the manufacturing of
aircraft and defense equipment due to their superior properties such as
lightweight, low density, corrosion resistance, high strength, and
stiffness. The product demand from aerospace industry is growing as a
result of rising aircraft delivery, especially in the developing
regions. CFRTP usage is being increasingly used in the automotive
industry to improve the vehicle fuel efficiency and reduce the amount of
carbon emission. Growing use of the product in wind turbines due to
rising demand for renewable energy is likely to drive the market growth.
CFRTP usage in the construction industry is increasing as it minimizes
the disruption during repair and saves installation cost and time.
Market Segmentation
The global Carbon Thermoplastic Composites Industry is segmented into raw material, application, and region.
On the basis of raw material, the market is divided into PAN-based and PITCH-based.
Based
on the application, the global carbon thermoplastic composites market
is segregated into aerospace & defense, automotive, wind turbines,
sports equipment, construction, and marine.
Geographically,
the market is divided into five key regions, including Asia Pacific,
North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
North
America is leading the global carbon thermoplastic composites market as
a result of increasing use in the manufacturing of lightweight vehicles
and defense equipment. The product demand is rising owing to growing
use of renewable energy in place of crude oil and other resources.
Europe is expected to grow at a staggering rate owing to the growing
demand for fuel-efficient automotive. This is due to the emission
standards set by European Union for the vehicles. The Asia Pacific is
the fastest growing market due to expanding automotive and aerospace
industry as a result of improved living standard and rising disposable
income of the consumers.
Competitive Analysis
Some
of the prominent 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.).
Access Report Details @ https://www.marketresearchfuture.com/reports/carbon-thermoplastic-composites-market-5824
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