DALAS, TX / ACCESSWIRE / January 21. 2021 / According to a new market report published by Lucintel, the future of global continuous fiber thermoplastics (CFT) market looks promising with opportunities in transportation, aerospace & defense, industrial, and sporting goods industries. The continuous fiber thermoplastic market is declined in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to grow with a CAGR of 5% to 7% from 2021 to 2030. The major driver for the growth of this market is growing demand for thermoplastic composites in different end use industries due to its higher performance and environmental benefits.
To download report brochure, please go to https://www.lucintel.com/continuous-fiber-thermoplastic-market.aspx and click "download brochure "tab from the menu.
In this market, transportation, aerospace & defense, industrial, and sporting goods are the major end use industries. On the basis of comprehensive research, Lucintel forecasts that the transportation and aerospace & defense segments are expected to show above average growth during the forecast period.
Within the global CFT market, the transportation segment is expected to remain the largest market by value and volume. Growing use of lightweight materials in transportation industry is the major driving forces that spur growth over the forecast period.
By material form, Unidirectional (UD) Tape is expected to remain the largest segment due to its growing use in aerospace & defense and transportation industries.
By use temperature, the low temperature CFT is expected to remain the largest segment by both value and volume over the forecast period. By reinforcement type, glass fiber reinforced CFT is expected to remain the largest segment by both value and volume. By resin type, PEEK based CFT is expected to remain the largest segment by value and PP based CFT is expected to remain the largest segment by volume over the forecast period. The growing use of high performance composite material in the end use industries is likely to drive the consumption of PEEK based CFT over the forecast period.
North America is expected to remain the largest market and it is also expected to witness the highest growth rate during the forecast period due to the expected increase in production of advanced aircraft models, growing vehicle production and an increasing focus on lightweight composite materials.
For business expansion, Lucintel's report suggests innovation and new product development to achieve higher mechanical performance, better performance at elevated temperature, and improved flame, chemical and moisture resistance.
Emerging trends which have a direct impact on the dynamics of the industry include continuous innovation and development of new products and applications particularly in automotive and aerospace industries, and close collaboration of players in different nodes in the supply chain. TenCate (Toray), Cytec Solvay Group, Lanxess, PolyStrand, AXIA Materials, QIYI Technology, and Celanese are among the major suppliers of CFT.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global CFT market by end use industry, material form, use temperature, reinforcement, resin, and region and has compiled a comprehensive research report entitled "Growth Opportunities in the Global Continuous Fiber Thermoplastics Market 2021-2030: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a springboard for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global CFT market by end use industry, material form, reinforcement, resin, use temperature, and region, as follows:
Continuous fiber thermoplastics market by end use industry [Volume (Million lbs) and Value ($ Million) from 2015 to 2030]:
- Transportation
- Sporting Goods
- Industrial
- Aerospace & Defense
- Others
Continuous fiber thermoplastics market by material form [volume (Million lbs) and Value ($ Million) from 2015 to 2030]:
- UD Tape
- Prepreg (Fabric)
- Commingled Fiber and Fabric
- Other - Pultruded Laminate
Continuous fiber thermoplastics market by reinforcement [volume (Million lbs) and Value ($ Million) from 2015 to 2030]:
- Carbon Fiber
- Glass Fiber
- Others
Continuous fiber thermoplastics market by use temperature [volume (Million lbs) and Value ($ Million) from 2015 to 2030]:
- High Temperature
- Low Temperature
Continuous fiber thermoplastics market by resin [volume (Million lbs) and Value ($ Million) from 2015 to 2030]:
- PP
- PEEK
- PPS
- PA
- PEI
- PEKK
- Others
Continuous fiber thermoplastics market by region [volume (Million lbs) and Value ($ Million) from 2011 to 2022]:
- North America
- Europe
- Asia Pacific
- ROW
This 238-page research report will enable you to make confident business decisions in this globally competitive marketplace For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
Related reports
Growth Opportunities in the Global Thermoplastic Unidirectional Tape Market:
For more details click here https://www.lucintel.com/thermoplastic-unidirectional-tape-market.aspx
Composite Preforms Market Report: Trends, Forecast and Competitive Analysis:
For more details click here https://www.lucintel.com/composite-preforms-market.aspx
Recycled Carbon Fiber Market Report: Trends, Forecast and Competitive Analysis:
For more details click here https://www.lucintel.com/recycled-carbon-fiber-market.aspx
BMI Prepreg Market Report: Trends, Forecast and Competitive Analysis:
For more details click here https://www.lucintel.com/bmi-prepreg-market.aspx
Gelcoat Market Report: Trends, Forecast and Competitive Analysis:
For more details click here https://www.lucintel.com/gelcoat-market.aspx
Para Aramid Fiber Market Report: Trends, Forecast and Competitive Analysis:
For more details click here https://www.lucintel.com/para-aramid-fiber-market.aspx
Growth Opportunities in the Global CNG Tank Market:
For more details click here https://www.lucintel.com/cng-tank-market.aspx
Growth Opportunities in the Pultrusion Market:
For more details click here: https://www.lucintel.com/pultrusion-market-2021.aspx
Growth Opportunities in the Global Composite Cylinder Market:
For more details click here https://www.lucintel.com/composite-cylinder-market-2020.aspx
Epoxy Curing Agents in the Composites Industry Report: Trends, Forecast and Competitive Analysis:
For more details click here: https://www.lucintel.com/epoxy-curing-agents-in-composites-industry.aspx
SOURCE: Lucintel
View source version on accesswire.com:
https://www.accesswire.com/625244/Lucintel-Anticipates-That-North-America-Will-Be-the-Fastest-Growing-Region-in-The-Continuous-Fiber-Thermoplastic-Market
