According to a new market report published by Lucintel, the future of the global thermoplastic composites market looks promising with opportunities in transportation, consumer goods, industrial, and construction industries. The global thermoplastic composites market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $15.1 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major drivers for this market are growing demand for lightweight and environmentally sustainable materials, and the replacement of metals with composites in different end use industries.
Browse 141 market data tables and 159 figures spread through 259 pages and in-depth TOC on “Global Thermoplastic Composites Market"
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In this market, different types of thermoplastic composites such as SFT, LFT, GMT, and CFT are used as material type. Lucintel forecasts that SFT will remain the largest market due to its wide usage in injection molding part fabrication. Lucintel predicts that CFT will witness the fastest growth during the forecast period due to increasing demand for high performance thermoplastic composites reinforced with continuous fiber.
Within the global thermoplastic composites market, transportation will remain the largest end use industry by value and volume due to increasing demand for lightweight materials. Consumer goods segment is expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance plastic compounds.
Europe is expected to remain the largest market for thermoplastic composites due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries. ROW is expected to witness the highest growth rate during the forecast period due to the anticipated growth in the end user industries and increasing focus on high performance thermoplastic composites.
Emerging trends, which have a direct impact on the dynamics of the thermoplastic composites industry, include increasing inter-material competition and increasing focus on continuous fiber reinforced thermoplastic composites. SABIC, Celanese, BASF, DSM, Solvay, and Hanwha and others are among the major thermoplastic composites manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global thermoplastic composites market by end use industry, material type, resin, reinforcement, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Thermoplastic Composites Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global thermoplastic composites market by end use industry, material type, resin, reinforcement, and region as follows:
By End Use Industry [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
Transportation
Consumer Goods
Construction
Industrial
Others
By Material Type [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
Short fiber thermoplastics (SFT)
Long fiber thermoplastics (LFT)
Continuous fiber thermoplastics (CFT)
Glass Mat Thermoplastics (GMT)
By Reinforcement Type [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
Glass fiber
Carbon fiber & others
By Resin Type [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
Polypropylene (PP)
Polyamide (PA)
Polybutylene terephthalate (PBT)
Others
By Region [$M shipment analysis for 2014 – 2025]:
North America
Europe
Asia Pacific
The Rest of the World
This 259-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/thermoplastic-composites-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.