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Continuous fiber reinforced thermoplastics have a good growth trend

2019-09-23  279

Lucintel, a US-based global market research and consulting firm, predicts that continuous fiber reinforced thermoplastics (CFT) will show a good growth trend during the forecast period due to the growing demand of the terminal industry.

From 2015 to 2020, the global continuous fiber reinforced thermoplastics market is expected to grow at a CAGR of 6.9%. The growing demand for lightweight, recyclable, and environmentally friendly materials in the aerospace and automotive industries is the main driver of demand for growth in this market.

In this market segment, glass and carbon fibers are used in the manufacture of continuous fiber reinforced thermoplastics such as polyamide (PA), polypropylene (PP), polyetherimide (PEI), polyphenylene sulfide (PPS), polyetheretherketone ( PEEK) resin reinforced material. In addition, based on comprehensive research, Lucintel predicts that the aerospace industry is expected to show an average growth rate during the above forecast period.

As for the CFT internal market, the aviation industry is expected to continue to maintain the world's largest market value based on value and transportation volume. The development of advanced aircraft models, new applications in the aerospace and automotive industries is expected to stimulate growth in these market segments during the forecast period.

It is reported that high demand and high shipment growth rates in the aerospace and automotive industries in North America are expected to continue to dominate the global CFT application, as CFT materials are increasingly expected to penetrate the sporting goods, automotive and industrial products industries. It will promote a clear growth trend in the Asia Pacific region and the rest of the world.

In addition, the report further indicates that product innovation and new product development contribute to the high stiffness and strength of the material and promote the commercialization of the uniqueness of CFT materials. In addition, the report recommends that industry-related companies should work with customers to create a win-win situation that not only enhances the overall strength of the company, but also provides high-performance products to end users.