As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.
The global carbon thermoplastic market size is projected to make considerable gains in the upcoming years owing to the significant advantages of long-fiber composites to traditional plastics. Fortune Business Insights™ shares these observations in its report, titled “Carbon Thermoplastic Market, 2022-2029”.
Carbon thermoplastics reinforced composites that offer a host of advantages over regular, conventional polymers. For example, the higher aspect ratio of fiber reinforcement allows for a more efficient transfer of energy between the fiber and polymer filaments upon impact. This durability makes carbon composites the most sought-after materials for injection molding of plastics, along with other applications where the base materials need to retain their shape, even after repeated impacts. Further, the low weight and tough stiffness of thermoplastics make them an ideal substitute for aluminum and steel, which are much heavier. For example, AREVO developed its carbon fiber-based e-bike, equipped with a thermoplastic matrix having high resistance to impact. The structural benefits of reinforced thermoplastics will, thus, propel the growth of this market in the foreseeable future.
The report provides a bird’s eye-view analysis of the industry trends and outlook, as well as supplies a meticulous study of all market segments. In addition, the report contains an in-depth assessment of the market drivers and challenges and also offers an exhaustive evaluation of the regional dynamics and competitive landscape of the market.
The carbon thermoplastic market growth may suffer due to the COVID-19 pandemic as carbon composites are in high demand in the aerospace and automotive sectors. Since the outbreak of the pandemic, auto manufacturing and aviation operations have been severely hit, stymieing investment plans in these industries. For example, many automakers have had to close down their plants in Europe and the US. Similarly, travel restrictions have led to an unprecedented decline in air travel, the recovery from which is expected to begin in the latter half of 2022.
By raw material, the market has been bifurcated into polyacrylonitrile and pitch. Based on application, the market’s segments include automotive, aerospace, wind turbines, sports equipment, construction, marine, and others. On the basis of region, the market has been grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Extensive Adoption of Composites by Aircraft Manufacturers to Support Market Growth
Composite materials, such as carbon thermoplastics, are being extensively employed by aerospace companies in the manufacturing of airplane components. For example, US-based Gulfstream Aerospace has been leveraging the strength of thermoplastic composites in the Gulfstream 650, its twin-engine business jet, since 2012. Similarly, Airbus has been utilizing the power of carbon composites in the making of the leading edges of its A300 fleet for decades. The extensive reliance on carbon-reinforced thermoplastics is primarily based on these materials’ lightweight properties, which make an aircraft more energy- and fuel-efficient. Airbus’s A350’s and Boeing’s 787s’ components are composed of more than 50% carbon composites, making them highly fuel-efficient. Thus, with concerns surrounding carbon emissions from the aviation industry mounting, the uptake of carbon-based fibers is likely to get stoked in the forthcoming years.
Massive Investments in Aerospace R&D to Stimulate the North America Market
North America is poised to dominate the carbon thermoplastic market share during the forecast period, owing to the enormous investments in research & development activities in the aerospace sector in the US and Canada. These investments are driven by the strong presence and robust finances of aviation giants in the region, such as Lockheed Martin and Raytheon. In Europe, the increasing demand for lightweight materials from the automotive and aerospace industries is expected to generate massive opportunities for market players. Meanwhile, in Asia Pacific, the demand for carbon thermoplastics will be premised on the growing adoption of sustainable mobility technologies in the automotive and aviation industries of India and China.
March 2021: BASF partnered with Sumitomo Demag and H + S Automatisierung to build and develop a manufacturing facility to create a vast array of specimens to enable research and development in thermoplastic polymers and compounds.
List of Key Players Profiled in the Carbon Thermoplastic Market Report
Gurit Holding AG
Saudi Basic Industries Corporation (SABIC)
Strategic Partnerships to Characterize Market Competition
Key players are enthusiastically collaborating with fellow competitors to enhance their R&D capacities and elevate their production capabilities for carbon thermoplastics. Moreover, such partnerships are allowing companies to deepen their presence in global value chains and broaden their business horizons.
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