CFRTP Market by Resin Type, Product Type, Application

List of Tables

[182 Pages Report] The CFRTP Market size was estimated at USD 9.02 billion in 2023 and expected to reach USD 9.94 billion in 2024, at a CAGR 10.64% to reach USD 18.32 billion by 2030.

Continuous Fiber Reinforced Thermoplastic Composites (CFRTP) are advanced materials characterized by the combination of a thermoplastic matrix with continuous fibers. These composites are gaining immense popularity across various industries due to their outstanding strength-to-weight ratio, design flexibility, and recyclability. The CFRTP market is rapidly evolving, propelled by the rising demand from sectors such as automotive, aerospace, and consumer electronics. These industries seek to leverage the lightweight and durable nature of CFRTPs for fuel efficiency and enhanced product performance. However, the high cost of raw materials associated with CFRTP may create a hindrance to market growth. High processing temperature issues with CFRTP limit the adoption across the industries. Furthermore, advancements in technology and an intensifying focus on sustainability are crucial opportunities for CFRTP adoption. The ability to recycle these materials aligns well with global efforts to reduce environmental impact and promote circular economy practices.

KEY MARKET STATISTICS
Base Year [2023]	USD 9.02 billion
Estimated Year [2024]	USD 9.94 billion
Forecast Year [2030]	USD 18.32 billion
CAGR (%)	10.64%

Regional Insights

The American region demonstrates a robust demand for Continuous Fiber Reinforced Thermoplastic Composites (CFRTP), primarily attributed to the strong presence of aerospace, defense, and automotive industries in this region. Additionally, initiatives in the American region focus on reducing vehicle emissions, further propelling the demand for CFRTPs. Countries, including Canada and Mexico, contribute to the market with their industries adopting CFRTPs for applications in transportation, sporting goods, and construction. In Europe, stringent environmental regulations and a prominent automotive industry significantly influence the CFRTP market. The European aerospace sector, with key players, drives the CFRTP market. Additionally, European countries are expected to show increased demand as their manufacturing capabilities grow and integrate with supply chains. Europe's commitment to sustainability and reduced carbon footprint is likely to increase the uptake of CFRTPs in various applications. APAC region growth is mainly driven by increasing industrialization, the rise in manufacturing activities, and the substantial growth of the automotive sector in countries like China, Japan, South Korea, and India. China. Governmental policies encourage the production of lightweight materials for consumer electronics, automotive, and aerospace industries. Furthermore, the region's emphasis on infrastructure development and the burgeoning demand for high-performing materials in various applications contribute to the growth of CFRTPs in the Asia-Pacific market.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the CFRTP Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Growing demand for light-weight materials across industries
- Stringent environmental regulations to explore sustainable materials

Market Restraints
- High cost of raw materials associated with CFRTP

Market Opportunities
- Growing development in the manufacturing process of CFRTP
- Emerging usage in aerospace applications to enhance fuel efficiency

Market Challenges
- High processing temperature issues with CFRTP

Market Segmentation Analysis
- Resin Type: Increasing usage of polyamide (PA) due to its ability to withstand dynamic loads
- Product Type: Growing adoption of long carbon fibers in automotive components and sports equipment
- Application: Emerging application of CFRTP composites in the automotive industry to reduce the weight of vehicles

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the CFRTP Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the CFRTP Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

THOR project develops mass-producible CFRTP hydrogen tanks

Cetim participated in the THOR project, a European initiative to produce CFRTP tanks for hydrogen vehicles to create a cost-effective, high-pressure demonstrator vessel that could be mass-produced, recycled, and meet safety and performance requirements. It involved collaboration between stakeholders across the hydrogen storage supply chain, including technology developers and end users. [Published On: 2023-06-15]

Asahi Kasei collaborates on development of recycling technology for inexpensive, high-quality carbon fiber

Asahi Kasei Corporation, in collaboration with the National Institute of Technology, Kitakyushu College, and Tokyo University of Science, has developed an innovative method for recycling carbon fiber-reinforced plastics (CFRP) and thermoplastics (CFRTP). This groundbreaking approach allows for the extraction of carbon fibers from plastic waste, enabling perpetual recycling and contributing to the circular economy. [Published On: 2023-01-17]

9T Labs completes USD 17 million Series A funding round

9T Labs has secured funding to bring its Red Series software tools, 3D printer, and molding equipment to the commercial market. 9T Labs' innovative technology platform enables the mass production of high-performance structural parts using CFRTP composites, with production volumes ranging from 100 to over 100,000 parts per year. [Published On: 2022-02-22]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the CFRTP Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the CFRTP Market, highlighting leading vendors and their innovative profiles. These include AEROSUD, Asahi Kasei Corporation, Avient Corporation, BUFA Thermoplastic Composites GmbH & Co. KG, Celanese Corporation, CompLam Material Co., Ltd., DuPont de Nemours, Inc., Ensinger GmbH, Gurit Holding AG, Hexcel Corporation, Iwatani Corporation, Jiangsu Hengshen Co., Ltd., Mitsubishi Chemical Group Corporation, Okutani Ltd., Reinforced Plastic Industries, RTP Company, Saudi Basic Industries Corporation, SGL Group, Solvay S.A., SONOTEC Co., ltd., TIP composite Co., Ltd., Toray Industries, Inc., and Zhongfu Shenying Carbon Fiber Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the CFRTP Market to forecast the revenues and analyze trends in each of the following sub-markets:

Resin Type
- Polyamide (PA)
- Polycarbonate (PC)
- Polyetheretherketone (PEEK)
- Polyphenylene Sulfide (PPS)

Product Type
- Continuous Carbon Fiber
- Long Carbon Fiber
- Short Carbon Fiber

Application
- Aerospace & Defense
- Automotive
- Consumer Electronics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-894699F5E6D4

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand for light-weight materials across industries
  - 5.1.1.2. Stringent environmental regulations to explore sustainable materials
- 5.1.2. Restraints
  - 5.1.2.1. High cost of raw materials associated with CFRTP
- 5.1.3. Opportunities
  - 5.1.3.1. Growing development in the manufacturing process of CFRTP
  - 5.1.3.2. Emerging usage in aerospace applications to enhance fuel efficiency
- 5.1.4. Challenges
  - 5.1.4.1. High processing temperature issues with CFRTP
5.2. Market Segmentation Analysis
- 5.2.1. Resin Type: Increasing usage of polyamide (PA) due to its ability to withstand dynamic loads
- 5.2.2. Product Type: Growing adoption of long carbon fibers in automotive components and sports equipment
- 5.2.3. Application: Emerging application of CFRTP composites in the automotive industry to reduce the weight of vehicles
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. CFRTP Market, by Resin Type

6.1. Introduction
6.2. Polyamide (PA)
6.3. Polycarbonate (PC)
6.4. Polyetheretherketone (PEEK)
6.5. Polyphenylene Sulfide (PPS)

7. CFRTP Market, by Product Type

7.1. Introduction
7.2. Continuous Carbon Fiber
7.3. Long Carbon Fiber
7.4. Short Carbon Fiber

8. CFRTP Market, by Application

8.1. Introduction
8.2. Aerospace & Defense
8.3. Automotive
8.4. Consumer Electronics

9. Americas CFRTP Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific CFRTP Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa CFRTP Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. THOR project develops mass-producible CFRTP hydrogen tanks
- 12.3.2. Asahi Kasei collaborates on development of recycling technology for inexpensive, high-quality carbon fiber
- 12.3.3. 9T Labs completes USD 17 million Series A funding round
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio