The global continuous fiber thermoplastics (CFT) market is expected to reach an estimated $216.7 million by 2019, according to a new report from Research and Markets [Growth Opportunities in Continuous Fiber Thermoplastics Market 2014-2019].
CFT materials are used in a variety of markets such as aerospace, transportation, sporting goods, industrial goods, and ballistics which have been the market drivers in recent years, helping to gain widespread acceptance in the marketplace across all regions.
On the basis of its comprehensive research, the report projects that the majority of the market segments for CFT are estimated to grow impressively over the next five years. The aerospace segment is expected to show the highest growth due to increasing demand for composite materials from new aircraft programs.
The growth of carbon fiber-based CFT is expected to remain strong over the forecast period owing to the increasing demand from the aerospace industry. Major resins used in CFTs are PP, PA, PEEK, PEI and PEKK. There are a number of suppliers of CFT materials globally.
The biggest challenge facing the CFT industry is the relatively higher cost of CFT materials compared to competing materials. Further, CFT requires sophisticated equipment to apply higher heat and pressure for processing. Inter-material competition also is threatened, but innovations in new technology in fiber and resin formulations have the potential to change the dynamics of the market.