According to the latest market report published by Lucintel, the future of the global continuous fiber thermoplastics (CFT) market looks promising with opportunities in transportation, aerospace and defense, industrial, and sporting goods. The global CFT market is expected to grow at a compound annual growth rate of 9.5% from 2017 to 2022. The major driver for the growth of this market is reported to be “growing demand for thermoplastic composites in different end use industries due to its higher performance and environmental benefits,” according to the report. The transportation, and aerospace and defense segments are expected to show above average growth during the forecast period.
Within the global CFT market, the aerospace and defense segment is expected to remain the largest market by value while the transportation segment will be the greatest by volume. Expected growth in the development and production of advanced aircraft models, increasing use of lightweight composites in new aircraft programs, such as the Boeing 787 and the Airbus A350, and growing use of lightweight materials in the transportation industry are the major driving forces that spur growth for these segments.
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