Global Long Fiber Thermoplastics Market Ongoing Trends, Growth Factors, Negative Factors, Opportunities, Untapped Markets, Strategies and Developments, Product Segments, and Forecast 2019 – 2028
“Global Long Fiber Thermoplastics Market Analysis Industry Trends, Applications Scope, Market Growth, and Global Forecast to 2028” is a recently tracked report. The target market is projected to witness significant CAGR of X.X% over the 10-year forecast period. The global long fiber thermoplastics market has been categorized on the basis of resin type, application, packaging material, distribution channel, and region/ country.
Introduction: Long Fiber Thermoplastics
Thermoplastics are of several types which are used in various engineering applications. These long fiber thermoplastics or thermo-softening plastics soften when heated and also becomes hard when it is cooled. They are used in semi-structural purposes in many applications. These long fiber thermoplastics are a combination of mechanical and thermal properties along with features such as low cost of manufacturing. The thermoplastics have several key properties including better toughness, high strength, durability, lightweight, heat resistance, corrosion resistance, and dimension stability which results in extended product life.
Market Dynamics: Long Fiber Thermoplastics Market
Factors anticipated to support long fiber thermoplastics market growth globally include growing demand for fuel-efficient lightweight vehicles, combined with rising spending capacity of individuals on passenger cars, and development of new technologies and inventions in the field of long fiber thermoplastics by major companies across the globe. Additionally, increasing adoption of polyamide LFT for application in turbocharged engines, crash absorbers, etc., combined with extensive use of the products in producing lightweight structural parts or components of automobiles are factors that are anticipated to drive revenue growth of the global long fiber thermoplastics market. Furthermore, increasing use of long fiber thermoplastics in various other end-use applications such as in sports, electronics, and construction industries is another factor estimated to fuel growth of the target market over the 10-year period. Rapid industrialization, rising demand for fuel-efficient vehicles and aircraft to manufacture lightweight parts instead of metals, and increasing expenditure in the defense sector, coupled with product application in manufacturing body armor is expected to support market growth.
However, stringent government regulations and certain recent products recalls are some major factors that could affect negatively on growth of the global long fiber thermoplastics market.
Various prominent players in the global market are aiming at forming efficient distribution channels or network via strategic activities such as collaboration with local market players and other organizations in the industry value chain or supply chain. This trend is among the major trends observed and is anticipated to gain traction and support growth of the global long fiber thermoplastics market.
By Resin Type:
Among the resin types, the polypropylene segment is anticipated to hold a dominant position in the global market, due to increasing adoption of PP resin type by industries such as automotive and consumer goods, among other industries.
Among the four major applications, the automotive segment is estimated to record for highest revenue share in the target market, as fiber thermoplastics are highly adopted in the automotive industry to reduce the overall weight of an automobile and manufacture fuel-efficient vehicles in order to meet the required regulations by government.
By Fiber Type:
Among the segments based on fiber type, the long glass fiber thermoplastic segment is projected to dominate in the target market.
The market in North America is anticipated to record highest revenue share in the global long fiber thermoplastics market. This can be primarily attributed to the rapid growth of automotive and aerospace industries in countries in North America. The market in Europe is estimated to be a faster inclining market in the global long fiber thermoplastics market, and is expected to record second-highest share in terms of value over the 10-year forecast period, due to increasing demand for thermoplastic-based composites owing to various benefits offered and growing end-use sectors/industries such as automotive, electrical, electronics, sporting goods, and consumer goods in the region. The market in Asia Pacific is projected to witness fastest growth in the years to come. Latin America and Mea markets are anticipated to register a moderate revenue growth rate in the global long fiber thermoplastics market over the 10-year forecast period.
Global Long Fiber Thermoplastics Market Segmentation:
Segmentation by Resin Type:
- Polypropylene (PP)
- Polyamide (PA)
- Polybutylene Terephthalate (PBT)
Segmentation by Application:
- Consumer Goods
- Sporting Goods
- Industrial Goods
Segmentation by Fiber Type:
- Long Glass Fiber Thermoplastic
- Long Carbon Fiber Thermoplastic
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Celanese Corporation
- PolyOne Corporation
- Solvay S.A.
- PolyOne Corporation
- Miller Waste Mills, Inc.
- Lanxess Aktiengesellschaft
- PPG Industries, Inc.
- Mitsubishi Chemical Corporation
- TechnoCompound GmbH
- Sumitomo Chemical Co., Ltd.
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