Toray Industries, Inc. (Japan) and Teijin Limited (Japan) are Leading Players in the CFRTP Market
The CFRTP market is projected to grow from USD 8.9 billion in 2023 to USD 16.8 billion by 2028, at a CAGR of 13.5% during the forecast period. The CFRTP market is continuously evolving and showing significant growth due to its increasing use in various end-use industries, such as aerospace & defence, road transportation, consumer electronics, marine, and many others. North America, Europe, and Asia Pacific are the major markets for CFRTP. The demand for CFRTP continues to grow due to the excellent properties and flexibility in manufacturing complex shapes & designs, driving the market.
Major manufacturers in this market are based in North America and Asia Pacific. Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Solvay (Belgium), SGL Carbon (Germany), Avient Corporation (US), Celanese Corporation (US), Asahi Kasei Corporation (Japan), RTP Company (US), CompLam Material Co., Ltd. (Taiwan), Ensinger (Germany), Jiangsu QIYI Technology Co., Ltd. (China) are among a few leading players operating in the CFRTP market. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the CFRTP market further.
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Toray Industries, Inc. (Japan)
Toray Industries, Inc. is a multinational corporation that specializes in industrial products involving organic chemistry, polymer chemistry, and biochemistry techniques. The company operates through Fibers & Textiles, Carbon Fiber Composite Materials, Environment & Engineering, Life Sciences, and Others segments. Through its Carbon Fiber Composite Materials business segment, Toray offers carbon fiber and carbon fiber thermoplastic products. It also offers its reinforced thermoplastic composite products via subsidiaries such as Toray Advanced Composites and Toray Performance Materials Corporation. The company acquired Zoltek (US), which is a prominent carbon fiber manufacturer in North America.
Teijin Limited (Japan)
Teijin Limited produces and sells goods and services in the fields of information & electronics, transportation, environment & energy, safety & protection, and healthcare. The company operates through Materials, Healthcare, Fibers & Products Converting, Information Technology, and Other segments. Through its Materials and Fiber & Products Converting segments, Teijin offers carbon fiber composites and intermediate carbon fibre products. It manages its carbon fibre business through its subsidiary, Toho Tenax Co., Ltd.
SGL Carbon (Germany)
SGL Carbon is one of the world‘s leading manufacturers of carbon fibre-based products and materials. Carbon fibre-based materials and products manufactured by the company are used in wind energy, transportation, and aerospace & defence industries. The company manages its business through Corporate, Graphite Solutions, Carbon Fibers, Composite Solutions, and Process Technology.
Related Reports:
CFRTP Market by Product Type (Continuous, Long, Short), Resin Type (PA, PEEK, PPS, PC, PP), Application (Aerospace & Defense, Consumer Electronics, Transportation), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028
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