The global market for Continuous Fiber-Reinforced Thermoplastic Composites (CFRTP) estimated at USD 989.25 Million in the year 2022, is projected to reach a revised size of USD 1,764.31 Million by 2030, growing at a CAGR of 7.5% over the analysis period 2023-2030.
Continuous Fiber Reinforced Thermoplastic Composites are durable and lightweight, bringing about critical weight decrease as well as expanded strength and solidness in finished results. CFRTP composites are utilized in many end-use ventures, for example, cars, aviation, gadgets, and others because of their various benefits, for example, high solidarity to-weight proportion, phenomenal burden conveying capacity, low coefficient of warm development, and protection from twisting and breaks. Electric vehicles (EVs) are harmless to the ecosystem and have acquired prominence as of late. CFRTP composites are very helpful in the production of EV parts since they have high strength and contribute fundamentally to vehicle weight decrease.
Top Key Players Covered in The Continuous Fiber Reinforced Thermoplastic Composites For Electric Vehicles Market:
Lanxess,TenCate,Celanese,Polystrand,Tri-Mack,AXIA Materials,US Liner,Aonix,Lingol,Ningbo Huaye Material,QIYI Tech,Zhejiang Double Fish Plastics,Guangzhou Kingfa Carbon Fiber and other major key players.
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Market Dynamics:
Key Market Drivers:
Growing Adoption Of Electric Vehicles
Key Market Restraints:
Higher Cost Associated With The Composite Material
Key Opportunities:
Carbon Fiber Material Holds Scope For Growth In EV Sector
Market Segmentation
By Type
- Carbon Fiber CFRTP Composites
- Glass Fiber CFRTP Composites
- Aramid Fiber CFRTP Composites
By Application
- EV Interior
- EV Exterior
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Key Industry Developments In The Continuous Fiber Reinforced Thermoplastic Composites For Electric Vehicles Market
June 2022, Avient Corporation is expanding its reSoundTM REC thermoplastic elastomer (TPE) portfolio with the addition of two new grades. Shark Solutions formulates both grades with polyvinyl butyral (PVB) recycled from automotive glass. The availability of two new EdgetekTM PKE polyketone (PK) grades with non-halogen flame retardants will also be announced (NHFRs).
By Regional Outlook
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Reasons to Purchase this Market Report:
- Market forecast analysis through recent trends and SWOT analysis
- The Continuous Fiber Reinforced Thermoplastic Composites For Electric Vehicles Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
- Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
- The Continuous Fiber Reinforced Thermoplastic Composites For Electric Vehicles Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
- Competitive environment related to the The Continuous Fiber Reinforced Thermoplastic Composites For Electric Vehicles Market share for key players, along with new projects and strategies that players have adopted over the past five years
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