Carbon Thermoplastic Composites Market Size To Hit USD 10.21 Billion By 2030


 San Francisco, 28 Nov 2024: The Report Carbon Thermoplastic Composites Market Size, Share & Trends Analysis Report By Raw Material, By Application (Automotive, Aerospace & Defense), By Region, And Segment Forecasts, 2024 - 2030

The global carbon thermoplastic composites market size is anticipated to reach USD 10.21 billion by 2030 and is projected to grow at a CAGR of 8.5% during the forecast period, as per a new report by Grand View Research, Inc. The demand for lightweight materials in automobile production, so as to reduce the overall fuel consumption is splurging the carbon thermoplastic market demand globally.

Many developed countries such as the United States, Japan, Germany, etc. have a high concentration of automobile, aerospace and defense equipment manufacturing companies and so is the consumption of carbon thermoplastics composites in these regions.

North America is anticipated to grow lucratively over the forecast period for the product on account of the presence of major aircraft manufacturing giants like Boeing and many other top notch automobile manufacturers. Europe is expected to witness the highest growth over the forecast period. The presence of key automotive manufacturers such as BMW, Volkswagen, Mercedes, Fiat, etc. which emphasizing on building low-weight, fuel efficient, low emission, environment-friendly cars, has led to the increased consumption of CFRTP composites in the Europe.

The market is growing and is composed of several large players. However, product cost is a major challenge faced by these companies. Key market participants have adopted strategies such as agreements, joint ventures, partnerships, and alliances so as to sustain the growing market competition.

Access Research Report of Carbon Thermoplastic Composites Market @ https://www.grandviewresearch.com/industry-analysis/carbon-fiber-reinforced-thermoplastic-cfrtp-composites-market

Carbon Thermoplastic Composites Market Report Highlights

  • The pitch segment is expected to experience significant growth over the forecast period. Carbon fibers based on the pitch have higher parameters of mechanical properties compared to other types of carbon fibers.
  • The aerospace & defense segment dominated the market with a revenue share of 59.6% in 2023. The aerospace & defense industry needs parts that are strong and resistant to fire. These performance criteria are easily met for CFRTP composites because of the strength-to-weight ratios and durability offered by these composites.
  • North America carbon thermoplastic composites market is expected to grow lucratively over the forecast period, fueled by strict regulations in the region regarding fuel efficiency and emission control.Key companies in this market include Toray Industries, Inc., SGL Group, Hexcel Corporation, Teijin Limited, Mitsubishi Rayon Co., Ltd., BASF SE, etc.

Carbon Thermoplastic Composites Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 6.97 billion

Revenue forecast in 2030

USD 10.21 billion

Growth rate

CAGR of 8.5% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in Carbon Thermoplastic Composites Market

  • DowAksa
  • Solvay
  • Toray Industries, Inc.
  • SGL Carbon
  • Hexcel Corporation
  • Teijin Limited
  • Mitsubishi Chemical Corporation
  • Gurit Holding AG
  • Plasan Carbon Composites

Access Press Release of Carbon Thermoplastic Composites Market @ https://www.grandviewresearch.com/press-release/global-carbon-fiber-reinforced-thermoplastic-cfrtp-composites-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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