Global Continuous Fiber Thermoplastic (CFT) Market: An Overview
Fiber thermoplastics are driven high performance fibers, which are essentially composite materials like carbon fiber and glass fiber. During later processing, these are melted and compressed through molding processes. The global continuous fiber thermoplastic (CFT) market is experiencing a robust growth due to product properties such as good electrical conductivity.
Additionally, fiber thermoplastics also offer low moisture absorption, high strength, and low coefficient thermal expansion. Furthermore, products in the continuous fiber thermoplastic (CFT) market products also offer chemical stability and high impact strength. These products are also used in a wide industrial applications due to their lightweight and recyclable nature. As a rule of thumb, these products are 20 to 40 percent lighter than aluminum and steel. Hence, the the global continuous fiber thermoplastic (CFT) market is experiencing a rising demand from the electronics industry, automobile, aerospace and defense, and consumer goods.
The demand for products in the global continuous fiber thermoplastic (CFT) market is expected to register a steady growth as these do not emit volatile compounds and are considered acceptable solvents. However, due to lack of dynamic mechanisms to reduce their end-waste, these products can still pose danger to the environment.
Global Continuous Fiber Thermoplastic (CFT) Market: Notable Developments
- Nasa’s Glenn research center in Cleveland has engineered a self-healing composite. This discovery is in the process of being patented and it opens up licensing opportunities for industries through NASA’s technology transfer programs. NASA researchers have enhanced the properties of SiC/SiC composites. The engineered matrix converts low-viscosity oxides to extend the life of material by filling the gaps. These materials can replace super alloys, currently nickel-based with high-stress, and high-temperature applications. Their application can include nuclear reactors, heat exchangers, aircraft turbines, and power generation equipment.
- AREVO, a 3D printing startup has tied up with Franco bicycles for manufacturing fiber composite made bicycle frames. Traditionally, bike frames consisted of over 20 different parts combined together. However, this collaboration promises to produce a single-framed body, using 3D printing technology. This development is a notable trend in the continuous fiber thermoplastic (CFT) market. 3 printing technology promises several advancements with the advent of nanomaterials. 3D printing promises to reduce costs, increase production speeds, and provide better quality products.
Global Continuous Fiber Thermoplastic (CFT) Market: Key Trends
Lightweight and Fuel-Efficient Vehicles to Drive Growth
Rising environmental concerns such as global warming are forcing governments to enact tougher legislations to reduce pollution. Currently, passenger vehicles are responsible for nearly 12% vehicle emissions in Europe. The growing emissions of carbon dioxide are expected to create new opportunities for growth in the continuous fiber thermoplastic (CFT) market.
Fiber thermoplastic make way for lighter and stronger materials. Hence, they meet the core need of creating lightweight and sturdy builds which are important for reducing fuel-emission and durable vehicles, respectively. Additionally, the European Union has raised the bar for fuel-efficiency with new targets in 2021 for the auto industry. The advent of 3D printing technology and growing demand for vehicles due to autonomous driving trends, and IoT technology can also drive growth for the global continuous fiber thermoplastic (CFT) market.
Global Continuous Fiber Thermoplastic (CFT) Market: Regional Outlook
The continuous fiber thermoplastic (CFT) market report is divided into main regions including North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America region is expected to register the highest revenue growth in the near future. Growing research in fiber replacements, presence of a large auto industry, and recent economic recovery are expected to drive growth. On the other hand, Asia Pacific will emerge with the fastest CAGR during the forecast period. The continuous fiber thermoplastic (CFT) market in Asia Pacific is expected to expand significantly thanks to a growing auto manufacturing and research focus in China, growing per capital income, and robust new applications of fiber composites.
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