Irving, TX (PRWEB) January 19, 2013
The continuous fiber thermoplastic (CFT) market is expected to reach US $191.8 million by 2017, with a CAGR of 8.6% over the next five years. CFT materials are used in a variety of markets such as transportation, sporting goods, industrial goods, aerospace, and ballistic, which have been the market drivers in the recent years, helping gain widespread acceptance in the marketplace across all regions.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the trends and forecasts of the industry and presents its findings in “Opportunities in Continuous Fiber Thermoplastics: 2012-2017 Trends, Forecasts, and Opportunity Analysis.” A paradigm shift is occurring in automotive and industrial companies, which are now embracing CFT as a potential replacement for traditional materials, especially in those applications where weight/performance and cost/performance is crucial.
Among the main challenges of the market, reduction in gross margin and overall profitability may reduce R&D and further capital investment to increase CFT production that can pose as a big threat for further growth. Intermaterial competition also possesses a great threat; innovations in new technology, fiber, or resin formulation have the potential to change the dynamics of the market. The chemical research report gives brief overview about the drivers of the industry. The CFT materials can be formulated with glass, carbon of aramid fiber whereas polypropylene (PP), nylon, PPS, PEEK, PC, and PEI are the most commonly used resin systems, which increases the global demand. The main drivers for the automotive applications are cost reduction, weight reduction, and recyclability. These are environment friendly and increase the recovery of vehicles and their components.
Due to the differing stages of the product lifecycle of the six industry segments for CFT applications within different industries, it is important to understand their penetration in the application relative to the overall segment. The data from this section comes from primary research from experts within the industry to understand penetration and how the trends are changing whether positive or negative toward CFT materials in the application segment.
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