According to the latest market information released by the BNNbreaking website on February 16, carbon fiber reinforced thermoplastics (CFRTP) will jump from US$8.9 billion in 2023 to US$16.8 billion in 2028, with a compound annual growth rate (CAGR) of 13.5 during the forecast period. %, the rapid growth of CFRTP is expected to open a new chapter for the development of the automotive industry and aerospace fields.
CFRTP offers unparalleled advantages, including lightweight construction, dimensional stability, and resistance to chemicals and corrosion. It combines the strength and versatility of carbon fiber with the flexibility and ease of processing of thermoplastic materials. This synergy can provide structural parts that are lighter, stronger and more adaptable than ever before, and these technologies are The progress is far-reaching, with key applications spanning a wide range of sectors including aerospace, automotive and consumer durables. For the automotive industry in particular, CFRTP composites are leading the way in reducing vehicle weight, thereby improving fuel economy and reducing carbon footprint.
Among the matrix resins that make up CFRTP, polyamide, polyether ether ketone (PEEK), polycarbonate and polyphenylene sulfide (PPS) have attracted much attention for their unique properties and applications. For example, CFRTP based on PEEK is mainly used in the aerospace field because of its high temperature and pressure stability, impact resistance and other properties; CFRTP based on PPS is favored for its strength, flame retardancy and chemical elasticity, so , occupying a place in the automotive and consumer goods fields.
Regionally, the Asia-Pacific market is expected to register the highest compound annual growth rate (CAGR), a testament to the region's booming automotive industry and its rapid adoption of innovative materials. This growth is also due to the strategic positioning and progress of major market players such as BASF, Solvay and Toray Industries. These industry giants not only provide high-quality materials to the market, but also promote technology research and development as well as the technical development of CFRTP.
The CFRTP market is not only growing, it is growing at a high rate, led by major players such as BASF SE, Solvay and Toray Industries. Committed to innovation and sustainability, these companies are laying the foundation for a future where CFRTP becomes an integral part of a variety of manufacturing industries. The efforts of these companies not only focus on production, but also extend to research and development, opening new doors for the application of CFRTP.
The global landscape of CFRTP is rapidly expanding as the Asia-Pacific region leads the market growth. This growth is driven by the combined push for lighter, more fuel-efficient vehicles and the widespread adoption of CFRTP in aerospace and consumer products. The market size for carbon fiber reinforced thermoplastics in the automotive sector alone is expected to reach US$983 million by 2028, highlighting the huge opportunities ahead.
