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Growth opportunities in continuous fiber thermoplastics market
Updated: 2016-01-08 10:21 Source: Market Report Company share:

The future of continuous fiber thermoplastic (CFT) market looks good with opportunities in aerospace and automotive industries, as per Reaserch&Markets.

The global continuous fiber thermoplastics market is forecast to grow at a CAGR of 6.9% from 2015 to 2020, according to a new market report by Lucintel. The major driver of growth for this market is increasing level of penetration in aerospace and automotive industries, largely to address the increasing requirement of lightweight, recyclable, and environment friendly products.

In this market, glass & carbon fibers are major reinforcements and polyamide (PA), polypropylene (PP), polyetherimide (PEI), polyphenylene sulfide (PPS), & polyetheretherketone (PEEK) resins as major matrices are used for making continuous fiber thermoplastics. Lucintel predicts that the demand for CFT is likely to experience a good growth rate in the forecast period supported by growing demand in end-user industries. On the basis of comprehensive research, Lucintel forecasts that aerospace segment is expected to show above average growth during the forecast period.

Within the CFT market, the aerospace industry is expected to remain as the largest market by value and transportation industry by volume. The development of advanced aircraft models and new applications in the aerospace and automotive industry are expected to spur growth for these segments over the forecast period.
North America is expected to remain the largest market shipment due to growth in demand from aerospace and automotive industries. Asia Pacific & Rest of the World is expected to witness significant growth over the forecast period because of increasing penetration of CFT in sporting goods, automotive, and industrial goods industries. For market expansion, this report suggests innovation and new product development to achieve higher stiffness and strength, where the unique characteristics of CFT can be capitalized. The report further suggests the collaboration with customers to create win-win situations and development of high performance products for the end users. Emerging trends in the global CFT market, which have a direct impact on the dynamics of the industry, include the development of new applications and collaboration of players in different nodes of industry. Cytec, Tencate, LANXESS, Owens Corning, Fiber Glass Industries, and Polystrand are among the major suppliers of CFT.

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