Continuous Fiber-Reinforced Thermoplastic Composites Market is Forecasted to Reach US$ 2.38 Billion by 2033
swatichaudhari
The global continuous fiber-reinforced thermoplastic composites market size is estimated at US$ 1.12 billion in 2023. Global demand for continuous fiber-reinforced thermoplastic composites is predicted to increase at a value CAGR of 7.8% and reach a market size of US$ 2.38 billion by 2033-end, which will be an expansion of more than 2X from 2023.
Continuous fiber-reinforced thermoplastic composites are lightweight and durable. They ensure a significant weight reduction and provide stiffness & strength to end products. There are multiple advantages, which are associated with continuous fiber-reinforced thermoplastic composites, including excellent load-carrying ability and resistance to cracks and deformation. Moreover, the low coefficient of thermal expansion and the high strength-to-weight ratio are some other pivotal advantages, which are contributing to their demand.
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Increasing adoption of environmental-friendly vehicles is predicted to boost demand for continuous fiber-reinforced thermoplastic composites. Fuel efficiency is directly related to the vehicle’s weight, therefore a significant increase in the demand for lightweight materials is estimated to pave the way to generate lucrative opportunities for suppliers of continuous fiber-reinforced thermoplastic composites.
Top Key Players are
Lanxess
Celanese
TenCate
Tri-Mack
PolyOne Corporation
Polystrand
US Liner
AXIA Materials
Aonix
Ningbo Huaye Material
Guangzhou Kingfa Carbon Fiber
Zhejiang Double Fish Plastics
Market Segmentations
By Product Type :
Carbon Fiber
Glass Fiber
Aramid Fiber
By Application :
Automotive
Aerospace
Electronics
Sporting Goods
By Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Competitive Analysis
Prominent suppliers of continuous fiber-reinforced thermoplastic composites are concentrating on ensuring the availability of user-friendly and more effective products to respective end users. They aim to target a larger base of reliable consumers. They are also incorporating certain advanced manufacturing techniques to ensure product standards and product quality. Supply chain management systems are also worked upon by them to deliver products safely and on time.
Key players in the continuous fiber-reinforced thermoplastic composites market are concentrating to expand their consumer base.
For instance :
PolyOne Corporation, in 2019, launched new thermoplastic composite products at CHINAPLAS. The company introduced Complet LFT formulations. It is a thermoplastic composite, which has PP and PEEK as a base resin. These newly launched products are predicted to meet the increased performance and design requirements.
