Over the past few years, the use of lightweight materials has drastically improved owing to their various advantages over the traditional products such as wood, copper, and bricks. The lightweight continuous fibre composite provides enormous tensile strength and have high resistance to corrosion, heat, and temperature as compared to traditional material. According to the latest market intelligence report by BIS Research titles, ‘Global Continuous Fibre Composite Market -Analysis and Forecast (2017-2022)’, the market is anticipated to register a CAGR of 5.5% during the forecast period. These materials are extensively used in the developed markets such as North America and Europe and are expected to garner the attraction form the Asia-Pacific, Middle East, and South America from 2017-2022.
In April 2018, at the Offshore Technology Conference, Huston TX, a prominent company, Solvay, launched an Evolite F1050, a high-performance thermoplastic composite with continuous carbon fibre reinforcement to meet the demands of off shore oil and gas applications. Evolite F1050 is a unidirectional tape combined with the recognized chemical and temperature resistance of Solef PVDV with the inherent high strength performance of carbon fibre. Evolite F1050 is the first launch in a portfolio of products that will enable lower total installed cost solution for oil and gas operators through its ability to reduce the weight of the material.1
In March 2018, Chinese luxury business appliance, Haier, launched an air-conditioning unit under its Casarte brand based on continuous fibre-reinforced thermoplastic composites (CFRTPs) from Covestro. The material is developed to produce an extremely light-weight component, that can withstand enormous forces. The ability to withstand the forces is owing to its ultra-thin, endlessly long carbon fibres.2
In March 2018, SABIC, a global leader in the chemical industry, developed continuous fibre reinforced thermoplastic composite (CFRTC), the UDMAX GPP 45-70 tape for the side doors of passenger cars. The material system aims to help in improving compliance with stringent energy and emissions regulations. Apart from weighing less than that of the existing steel, aluminium, and magnesium doors, the CFRTC part delivers exceptional strength, corrosion resistance, and the ability to be produced in high volumes using injection molding.3
Market players are opting various strategies to widen the consumer base and presence in the global market for continuous fibre composite. Expansions, new product launches and developments, partnerships, collaborations, contracts and agreements are some of the prominent strategy used by the key market players. Toray Industries, SGL Carbon, Owens Corning, Mitsubishi Chemical Corporations, Johns Manville, and Lanxess AG are some of the leading companies in the market for Continuous Fibre Composite.