According to the latest market report issued by Lucintel, a global market research and consulting company in the United States, from 2015 to 2020, the global market for continuous fiber reinforced thermoplastics is expected to grow at a compound annual growth rate of 6.9%. The growing demand for lightweight, recyclable, and environmentally friendly materials in the aerospace and automotive industries is the main driving force for the growth of this market.
In this market area, glass and carbon fibers are used to make continuous fiber-reinforced thermoplastics polyamide (PA), polypropylene (PP), polyetherimide (PEI), polyphenylene sulfide (PPS), polyetheretherketone ( PEEK) resin reinforcement. Lucintel predicts that continuous fiber-reinforced thermoplastics (CFT) will show a good growth trend during the forecast period due to the increasing demand of the terminal industry. In addition, based on the comprehensive study, Lucintel predicts that the aerospace field is expected to show the average growth rate during the above-mentioned forecast period.
Continuous fiber reinforced thermoplastics
As for the CFT internal market, the aviation industry is expected to continue to maintain the world's largest market value in terms of value and transportation volume. The development of new advanced aircraft model, aerospace and automotive applications is expected to stimulate growth in these market segments during the forecast period.
It is reported that the high demand and high growth rate of shipments to the aerospace and automotive industries in North America are expected to prompt the region to continue to dominate the global CFT application, in addition to the increasing penetration of CFT materials in the sportswear, 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 shows that product innovation and new product development help to achieve high stiffness and high strength materials, and promote the commercialization of the uniqueness of CFT materials. Another report suggested that industry-related companies should work with customers to create a win-win situation, not only to enhance the overall strength of the enterprise, but also to provide end-users with high-performance products.
Xiamen LFT Composite Plastic Co.,Ltd. focuses on continuous fiber reinforced thermoplastics (long fiberglass/carbon fiber reinforced thermoplastics). If you want more detailed information, please feel free to contact me.