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Continuous Fiber Thermoplastic Market Report
Continuous Fiber Thermoplastic Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
"The global continuous fiber thermoplastic market is likely to grow at a CAGR of 7.1% (value basis) during 2022-2027 to reach USD 200 million in 2027."
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Continuous fiber thermoplastics (CFTs) are intermediate materials, suitable for a range of applications that call for high strength, stiffness, and low weight. CFTs are later processed through different processes in order to fabricate parts/components. These products are used in a wide range of industrial applications due to their lightweight and recyclable nature. CFTs are 20 to 40 percent lighter than aluminum and steel. CFTs are especially significant in the automotive industry because of their potential to replace metal in the production of lightweight automotive parts.
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Continuous Fiber Thermoplastic (CFT) Market Report Overview |
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Market Size in 2027 |
USD 200 Million |
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Market Growth (2022-2027) |
CAGR of 7.1% |
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Base Year of Study |
2021 |
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Trend Period |
2016-2020 |
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Forecast Period |
2022-2027 |
Rising demand for CFTs in the aerospace, automotive, and consumer goods industries, owing to an increased demand for lightweight parts, stringent regulations concerning fuel efficiency and emission level, and higher performance w are some of the major factors driving the demand for CFTs.
The global CFT market suffered a massive decline of >30% (value basis) in 2020 due to the global economic recession led by the COVID-19 pandemic. Most of the end-use industries faced reduced demand, supply chain disruption, cash flow constraints, and temporary shutdown in production facilities which led to the decline in the demand for CFTs.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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Product-Type Analysis |
Thermoplastic UD Prepreg, Thermoplastic Fabric Prepreg, Commingled Yarn, and Others |
UD prepreg is likely to remain the most dominant product type in the market in the foreseen future. |
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Fiber-Type Analysis |
Carbon Fiber CFTs and Glass Fiber CFTs |
Glass fiber CFT is expected to remain the most dominant fiber type (volume basis) in the market during the forecast period. |
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Process-Type Analysis |
Compression Molding, Injection Molding, AFP/ATL, and Others |
Compression molding is likely to remain the majorly used process type in the market during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
North America is expected to remain the largest market for CFTs over the forecast period. |
"The UD prepreg segment accounted for the largest market share."
The market is classified into thermoplastic UD prepreg, thermoplastic fabric prepreg, commingled yarn, and others. UD prepreg is likely to remain the most dominant product type in the market in the foreseen future. The product type captured the lion’s share of the market in 2021 and is expected to grow at a healthy rate during the forecast period. UD prepregs are widely preferred in the aerospace & defense and automotive industries. Commingled yarn is used in cost-sensitive applications. Glass fiber is the most preferred material type for commingled yarns.
"The glass fiber CFT segment accounted for the largest market share."
The market is segmented as carbon fiber CFT and glass fiber CFT. Glass fiber CFT is expected to remain the most dominant fiber type (volume basis) in the market during the forecast period. Glass fiber CFTs are more flexible and lesser expensive than carbon fiber CFTs. They are frequently used in high-volume applications where low unit cost is a priority. It is also the preferred material type for applications that don’t require maximum stiffness. Carbon fiber CFT, on the other hand, allows for greater tensile strength at a lower weight. It is expected to grow at a higher pace during the forecast period.
"The compression molding segment accounted for the largest market share."
The market is segmented as compression molding, injection molding, AFP/ATL, and others. Compression molding is likely to remain the majorly used process type in the market during the forecast period. Compared to other manufacturing processes, compression molding is relatively simple and involves lower tooling costs. The adoption of AFP/ATL in CFT processing is slowly rising. It is anticipated to register an impressive CAGR of more than 9% during the forecast period.
"North America accounted for the largest market share."
North America is expected to remain the largest market for CFTs over the forecast period on account of the huge presence of tier players in the aerospace industry. The region is the biggest market for advanced composites, creating ample opportunities for the market participants in the years to come. Asia-Pacific is estimated to witness the fastest growth during the forecast period. Factors, such as increasing automobile production, a gradual shift of the aerospace industry in key Asian economies, and rising penetration of advanced composites, are driving the demand for CFTs in the region.
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CFT holds a unique position in the composite community. A handful of players have been able to manufacture CFTs, especially thermoplastic UD prepreg. Years of continuous research helped the companies to gain mastery in the CFT business. Also, most of the companies are deploying various strategies regarding product development & differentiation, pricing, brand, technology, and customized products to gain a competitive advantage. The following are some of the key players in the CFT market:
Note: The above list does not necessarily include all the top players in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s CFT market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth Analysis of the Continuous Fiber Thermoplastic (CFT) Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
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Which are the most attractive market segments? |
Market Segment Analysis and Forecast |
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Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirement? |
10% free customization |
The CFT market is segmented into the following categories:
By Product Type
By Fiber Type
By Resin Type
By End-Use Industry Type
By Temperature Type
By Process Type
By Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
The CFT market is estimated to grow at a healthy CAGR of 7.1% (value basis) over the next five years. Rising demand for CFTs in end-use industries and better performance of CFTs as compared to other competing materials are expected to drive the growth of the market in the coming five years.
Toray Industries (TenCate), Solvay S.A. (Cytec Industries Incorporated), Toho Tenax, Bond-Laminates (Lanxess AG), Avient Corporation (PolyOne Corporation), Jiangsu Qiyi Technology Co., Ltd., Celanese Corporation, Covestro AG, Kingfa Science & Technology (India) Limited, and BASF SE are some of the key players in the market.
North America is estimated to remain dominant in the CFT market in the coming years. High use of CFTs paired with increased use of advanced composites is a prime factor behind the dominance of the region in the global market.
Europe is estimated to grow at the fastest rate in the coming five years, driven by an increased acceptance of CFTs in Airbus's latest programs. An expected recovery in aircraft production is likely to give further impetus to the demand for CFTs in the region in the near future.
Carbon fiber is likely to maintain its dominance (value basis) in the next five years. Carbon fiber offers plentiful advantages over other fibers and is widely preferred in high-performance applications. The price of carbon fiber is several times the price of glass fiber, the key factor limited its use to specific applications.
Compression molding is expected to remain the most dominant process type in the CFT market in the coming years, owing to the simplicity of the process and lower tooling costs.
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