Pune, India, Aug. 21, 2020 (GLOBE NEWSWIRE) -- The Continuous Fiber thermoplastics (CFT) Market is estimated to be USD 238.8 million in 2020 and is projected to grow with a CAGR of 9.3% during the forecast period till 2028. Continuous Fiber Thermoplastics (CFT) are a type of composites materials that are used in many end-use industries due to their favorable properties such as high strength, durability, stiffness and also because they are lightweight. CFT now has the history of about 30 years. It is somehow different from short fiber thermoplastics in terms of width. Earlier, CFT were mainly used in the aerospace & defense industry, but they have found applications in various end-user markets such as transportation, sporting items, recreational items, and other industrial markets.
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The demand for CFT has been increasing in recent times due to the inability of short fiber thermoplastics (SFT) and metals to address specific application requirements. CFT materials have more advanced physical properties and benefits than that of composite materials and can form ergonomic shapes and handle coextruded handle materials. CFT is widely used in the aerospace & defense and the automotive industry due to its low weight, in order to replace metal and other ancillary competitive materials components and parts.
Some Impact Factors for CFT products are:
- Light weight with superior UV stability
- High chemical and thermal resistivity
- Superior dimension stability and functional integration
- Environment friendly and recyclable
- Short cycle time and high shelf time
Global Continuous Fiber Thermoplastics (CFT) Market, by Reinforcement
Based on the reinforcement type, the continuous fiber thermoplastics (CFT) market is segmented into glass fiber, carbon fiber, and others. The carbon fiber reinforcement type segment is dominating the market in the base year 2020 compared to the other reinforcement types. This reinforcement type is widely used in the aerospace and transportation industry to make various products and components, as they have superior properties than other competing materials.
Global Continuous Fiber Thermoplastics (CFT) Market, by Resin
Based on the resin type, the market has been segment into polyamide (PA), polyethylene (PP), polyether ether ketone (PEEK), polyphenylene sulfide (PPS), Polyurethane (PU), Polyetherimide (PEI), and others. Among these, PA, PP, and PEEK resin type is dominating the global CFT market in 2020, owing to their superior physical and mechanical properties and benefits to that of the other types of resins.
Global Continuous Fiber Thermoplastics (CFT) Market, by Operating Temperature
Based on the operating temperature type, the market has been segment into high temperature and low temperature. The high temperature type segment is dominating the global CFT market in 2020, owing to high performance benefits of the product and components at elevated temperature in aerospace and transportation industries.
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Global Continuous Fiber Thermoplastics (CFT) Market, by Form
Based on form, the global CFT market has been segment into prepregs UD tape, fabrics, fibers, and others. The UD tapes segment of the CFT market is dominating the global market in 2020 and is anticipated to remain dominant till the end of the forecast period. UD tape has high stability, and it is lightweight as compared to other forms. They are widely used in making aerospace and automotive interior and exterior products and components.
Global Continuous Fiber Thermoplastics (CFT) Market, by End User
Based on the end-user, the global CFT market has been segmented into aerospace & defense, transportation, recreational and sports, industrial, and others. Among these, the aerospace & defense end user segment has captured the largest market share in 2020 and is anticipated to remain largest till the forecast period. Advancement in aircraft design and technologies, increasing production of defense and commercial aircrafts, and a growing aerospace industry are contributing to the growth of the market.
Global Continuous Fiber Thermoplastics (CFT) Market, by Region:
Based on regions, the global CFT market is segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, Middle East, and Rest of World. North America is dominating the global CFT market followed by the European region. The presence of large aerospace & defense bases in the regions along with the presence of world’s most advanced automotive companies have led to the growth of the CFT market in these regions.
Some Major Findings of Continuous Fiber Thermoplastics (CFT) Market Report Include:
- Major global market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- In-depth global continuous fiber thermoplastics (CFT) market analysis by reinforcement type, resin, operating temperature, form, end user, and regions with an analysis of trend-based insights and factors
- Major key market players profiles which are operating in the global continuous fiber thermoplastics (CFT) market that include AXIA Materials, Celanese, Cytec, Guangzhou Kingfa Carbon Fiber, Ningbo Huaye Material, Lanxess, QIYI Technology, PolyStrand, Kingfa, Solvay Group, Polystrand, TenCate and others.
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players along with their major investments in the last five years
- Key impact factor analysis across regions that includes clinical pipeline analysis, along with the drivers, restrains, opportunities, challenges that are prevailing in the global continuous fiber thermoplastics (CFT)
- Impact of COVID-19 on continuous fiber thermoplastics (CFT) market
Browse key industry insights spread across 105 pages with 95 market data tables and 61 figures & charts from the report, “Continuous Fiber Thermoplastics (CFT) Market, By Reinforcement Type (Glass Fiber, Carbon Fiber, and Other Fiber), By Resin Type {Polyamide (PA), Polyethylene (PP), Polyether Ether Ketone (PEEK), Polyphenylene Sulfide (PPS), Polyurethane (PU), Polyetherimide (PEI) and others} , By Operating Temperature (High Temperature and Low Temperature), By Form (Prepreg, UD Tape, Fabrics, Fiber, Others), By End User (Aerospace & Defense, Transportation, Recreational and sports, Industrial and Others), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and the Rest of the World) – Market Size & Forecasting (2016-2028) – Market Size & Forecasting (2016-2028)” in depth analysis along with the table of contents (ToC).
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