Aerospace is the largest application segment of the CFRTP market, in terms of value and volume

The CFRTP Market was valued at USD 680.0 Million in 2015, and is projected to reach USD 1,690.3 Million by 2026, at a CAGR of 8.66% between 2016 and 2026. CFRTP is widely utilized for varied applications such as aerospace, automotive, and consumer durables, owing to its superior properties, low maintenance, and long product life.

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Major applications of the CFRTP market include aerospace, automotive, and consumer durables. The aerospace application segment accounted for the largest share of the CFRTP market in 2015, in terms of value and volume. CFRTP encompasses various properties including lightweight, easy to construct, dimensional stability, and resistance against chemicals as well as operational stability at high temperatures in comparison to other conventional materials, such as thermoset composites and metallic alloys. The superior properties of CFRTP have contributed to the extensive usage of CFRTP in the aerospace industry.

In this study, the years considered to estimate the market size of CFRTP are:

• Base Year – 2015
• Estimated Year – 2016
• Projected Years – 2021 & 2026
• Forecast Period – 2016 to 2026

North America is expected to be the fastest-growing market for CFRTP during the next five years. One of the most significant factors contributing to the growth of CFRTP market in North America is the increasing demand for CFRTP from the aerospace and automotive industries. Aerospace industries such as Airbus S.A. (France) and Boeing (U.S.) utilize CFRTP for producing combat and cargo transport aircraft, owing to its superior properties in comparison to other composite materials. North America is also expected to be the fastest-growing market for CFRTP in the next five years.

Key players operating in the CFRTP market include Solvay S.A. (Belgium), Royal Ten Cate N.V. (Netherlands), Teijin Limited (Japan), Toray Industries, Inc. (Japan), SGL Group (Germany), Celanese Corporation (U.S.), Covestro AG (Germany), PolyOne Corporation (U.S.), PlastiComp, Inc. (U.S.), and Aerosud (South Africa), among others. These players have adopted various organic and inorganic developmental strategies over the past five years.

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