Carbon Thermoplastic Composites Market – Market Overview
Carbon Thermoplastic (CFRTP) Composites are high-performance materials with unique properties such as lightweight, high strength to weight ratio, rigidity, and good chemical resistance properties. Owing to its superior properties it is widely used across an array of end-use industries such as aerospace & defense, automotive, construction, and sports. The increasing prevalence of high performance lightweight materials in the aforementioned industries is the prime market demand driver for Carbon Thermoplastic Composites.
Aerospace and automotive among the end-use industries account for majority of the market share in the Global Carbon Thermoplastic Composites Market. The demand from latter industries can be substantiated with the rising need for efficiency in terms of fuel and performance in automotive and aircrafts without jeopardizing the quality and safety. Furthermore, increasing scrutiny on the emissions has put sheer pressure on the automotive OEMs and aircraft structural manufacturers to reduce the consumption of fuel and thereby increasing the efficiency to curb pollution. For instance, the increasing prevalence of CAFÉ (Corporate Average Fuel Economy) mandate for the automotive OEMs to achieve the set CO2 emission standards. Even though, CAFÉ is more prevalent in the developed regions like North America and Europe, the CAFÉ norms is getting recognition in the developing markets as well. For example, in India the Corporate Average Fuel Efficiency that came in effect from 2017 end, complies the OEM manufacturers to meet the emission target of 113 g/ km by 2022, which is currently, 130 g/km. Thus, to achieve the compliance automotive OEMs are opting out for more lightweight high performance materials which in turn will boost the market for carbon thermoplastic composites market in the fore coming years. Also, the bolstering growth of aerospace & defense industry in the developing countries and increasing R&D on aircraft materials in the developed nations will propel the market further during the forecast period.
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Carbon Thermoplastic Composites Market – Competitive Analysis
Carbon Thermoplastic Composites Market is highly competitive the major players involved in the market are adopting strategies such as product launch, capacity expansion, collaborations, and product and process technology developments to stay competitive in the market. For instance, Toho Tenax, a part of Teijin Carbon has developed a rapid heat and cool press mold technology which can produce Thermoplastic Carbon Composites in a short span of process time, thereby increasing the company’s productivity.
Industry/ Innovation/ Related News:
February, 2016 – Toho Tenax, a part of Teijin Carbon Europe has developed a technology to produce thermoplastic carbon composites at a shorter cycle time of 4 minutes. The company is also planning to further develop a production technology to produce CFRTPs in a much shorter time.
March, 2018 – Toray announced its acquisition of Dutch based carbon fiber manufacturer TenCate Advanced Composites Holdings BV, which is Toray’s biggest acquisition till date. The latter is a renowned name in CFRTP business and this acquisition is in line with the current and foreseen demand for carbon thermoplastics from the aerospace industry.
November, 2017 – Teijin limited said that it will integrate its carbon fiber subsidiary Toho Tenax with Teijin Limited. This strategic move was to maximize the company’s corporate value and strengthen its upstream to downstream business across the globe.
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