Continuous Fiber Reinforced Thermoplastic (CFR-TP) Market 2019 to 2025,
key industry players & growth trends

Global Market Insights, Inc
present the report on global continuous
fiber reinforced thermoplastic (CFR-TP) market evaluates the growth trends
of the industry through historical study and estimates future prospects based
on comprehensive research. The report extensively provides the market share, growth,
trends and forecasts for the period 2019-2025.

Continuous fiber reinforced thermoplastic
(CFR-TP) is a composite material containing high performance continuous fibers
such as glass fiber, carbon fiber and aramid fiber which is impregnated under
matrix of thermoplastics such as polycarbonates. The product can be produced in
both sheet and tape format which can be produced through thermoforming
techniques. The product is generally used in military and aerospace operations.
These are used in sports equipment, automobile, transportation and in various
other fields.

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Growing transportation and
aerospace industry is the major growth driver for this market. The product is
used in building lightweight structures as the product possesses unique
mechanical properties and capacity to absorb energy. There are many government
initiatives promoting the use of continuous fiber reinforced thermoplastics in
its varied applications. For instance, European Commission is supporting
various projects aimed at developing composite based technologies. MADAMAX
project contributes heavily in the development of a European platform for
developing high performance resins and fibers. The main purpose of the project
is organizing cluster of academic and private laboratories and major
manufactures from transportation sector to investigate the possibility to
benchmark specific composites.

The continuous fiber
reinforced thermoplastics (CFR-TP) market is segmented on the basis of product
into glass fiber, carbon fiber, aramid fiber and others. Carbon fiber type
thermoplastics are generally used by aircraft makers to reduce the weight of
aircraft in order to improve product efficiency. Although the product demand is
expected to increase by rising demand of lightweight products from various end
user industries such as construction, wind and marine as any fuel efficiency is
highly dependent on kerb weight. The product is largely used in end user
industries owing to properties such as high strength and light weight.

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The product is used in many
industries including automotive, aerospace, electronics, sporting goods, etc.
The product has major application in transport sector owing to strict
environment regulations and rising demand to produce light weight vehicles. The
basic method to reduce green house gas emissions from industries such as
automotive and civil aeronautics is to reduce the weight of the vehicle.
However, the product is largely used in electronics industry. It has been found
that a laptop cover made from continuous fiber-reinforced thermoplastic
composites can reduce the carbon footprints to around 70% as compared to
traditional magnesium- aluminum alloy.

North America shall account
for largest market share in thermoplastic fibers industry which can be
attributed to increasing product demand by aircraft makers in the region.
Europe also held a significant market share in 2018, as a result of strict
government regulations regarding carbon emissions. Asia pacific on the other
hand is likely to follow an increasing trend due to exponentially growing
automobile production and sales in the region.

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Industry rivalry is quite high
due to the presence of various well-established players in the international
market. Several key players indulged in this industry are Toray Industries,
Inc., Hexcel Corporation, Mitsubishi Rayon Co., Ltd, SGL Group, BASF SE,
Lanxess, TenCate, Celanese and AXIA Materials. The companies in this industry
are keen to produce raw materials while reducing the overall production cost.

About Global Market Insights:

Global Market Insights, Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
service provider; offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research
reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
renewable energy and biotechnology.

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