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A D V A N C E D M A T E R I A L S & P R O C E S S E S | M A Y / J U N E 2 0 1 7
FEEDBACK
CARBON THERMOPLASTIC COMPOSITES MARKET
POISED FOR GROWTH
A new report from Grand View Re-
search Inc., San Francisco, values the
global carbon fiber reinforced thermo-
plastic (CFRTP) composites market at
$2.75 billion for 2015, with growth pro-
jected at a CAGR of 10.8% from 2016 to
2025. “Carbon Thermoplastic (CFRTP)
Composites Market Analysis by RawMa-
terial (PAN, Pitch), by Application (Au-
tomotive, Aerospace & Defense, Wind
Turbines, Sport, Construction, Marine),
and Segment Forecasts, 2014−2025”
shows increasing use of CFRTPs in
industries such as automotive, aero-
space, wind energy, construction, and
marine due to more stringent require-
ments for lightweight materials and
fuel efficiency. Automotive use is the
fastest growing application segment
with an estimated CAGR around 14%
over the forecast period.
BOOKS ON BETHLEHEM
I recently read two very
interesting articles in
AM&P
on
the decline of the American steel
industry (“Metallurgy Lane,” Nov/
Dec 2016 and January 2017). I
joined Bethlehem Steel in 1977
just out of graduate school and I
was there when the first round of
layoffs hit at Homer Research and
Martin Tower. I left shortly after
that and just retired after more
than 35 years in the chemical and
oil industries. Do you know of any
good books that chronicle the
decline of steel? In the last few
years, I’ve read two books on what
happened in the auto industry and
would like to find a similar book on
steel. I read “Crisis in Bethlehem”
by John Strohmeyer and enjoyed it.
However, because it was published
in 1986, it misses the last 30 years.
Lindell (Bob) Hurst
[I would
recommend
“Bethlehem
Steel: Builder
and Arsenal of
America” by
Kenneth Warren,
published in
2008 by the
University of Pittsburgh Press.
—Charles R. Simcoe]
The primary ingredients in CFRTP
manufacturing are polyacrylonitrile
(PAN) and petroleum pitch. The supe-
rior properties of PAN over petroleum
pitch are expected to drive the PAN
market for the global CFRTPmarket, say
analysts. The PAN-based CFRTP market
in North America is projected to grow at
a CAGR of over 12%, creating a demand
of more than 18,000 tons by 2025. North
America is expected to be the largest
market for CFRTPs, accounting for over
35% of global market demand due to
the concentration of major aircraft and
defense manufacturers. Europe is pro-
jected to be the fastest-growing market.
Strict laws and regulations regarding
vehicle emissions and dedicated at-
tempts made by European automakers
in this regard are further expected to
spur growth in this area.
In terms of competition, key play-
ers include Toray Industries Inc., SGL
Group, Hexcel Corp., Teijin Ltd., Mitsubi-
shi Rayon Co. Ltd., and BASF SE, among
others. Agreements, partnerships, sup-
ply contracts, alliances, joint ventures,
and collaborations are the main strat-
egies adopted by these companies to
achieve growth, especially in the au-
tomotive sector. The CFRTP market is
defined by the presence of few partic-
ipants, with the major ones having a
high level of value chain integration.
For more information, visit grandview
research.com.
Source: Grand View Research Inc.
MARKET SPOTLIGHT
U.S. CFRTP Composite
Market Volume Share
by Application, 2015 (%)
Global CFRTP Composite Market by Region, 2014−2025 ($ Million)
We welcome all comments and
suggestions. Send letters to
frances.richards@asminternational.org.Source: Grand View Research Inc.