Global Thermoplastic Composites Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Thermoplastic Composites Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global thermoplastic composites market report has been segmented on the basis of product type, fiber type, resin type, application, and region.
Global Thermoplastic Composites Market: Overview
Thermoplastic composites are made from combination of two or more materials that have different properties in order to form a plastic material. Thermoplastic Composites are used as an alternative to thermoset composites and metals such as steel and aluminum with outstanding characteristics. These composites can be transformed and recycled by heating or melting it. Thermoplastic composites used in the automotive, aerospace, and construction industries because of its flexibility and lightweight with high impact strength, low density, ability to reform, corrosion resistant and others.
Global Thermoplastic Composites Market: Dynamics
Growing demand for thermoplastic composites in automotive industry, owing to its use in manufacturing of bumper beams, spare wheel well, seating structures, and others, is a major factor estimated to drive growth of the global thermoplastic composites market. In addition, rising demand for thermoplastic composites in aerospace & defense owing to its excellent characteristics such as lightweight, high impact strength, corrosion resistant, durability, and others is anticipated to support growth of target market. Furthermore, increasing demand for thermoplastic composites in various end-use industries such as construction, electronics & electrical, and consumer goods, owing to its flexibility, insulation, fatigue resistance, and other properties, which is expected to fuel growth of the potential market over the long run.
However, high product cost is anticipated to hamper growth of the target market over the forecast period. In addition, reprocessing of these composites is a factor expected to challenge growth of the target market in the next coming years.
Global Thermoplastic Composites Market: Segment Insights
Among product type, the short fiber segment is estimated to account for significant revenue share in the target market. Among fiber type, the glass fiber segment is expected to register major revenue share whereas the carbon fiber segment is expected to witness fastest growth rate in the potential market over the long run.
Among resin type, the polypropylene resin segment is expected to hold highest revenue share in the target market in the next coming years. Among application, the electrical & electronics segment is anticipated to witness major revenue share contribution in the target market.
Global Thermoplastic Composites Market: Region Insights
Asia Pacific market is expected to hold significant revenue share contribution and is projected to grow at a rapid rate in the target market. This is attributed to growing demand of these composites in automotive, consumer goods, electronics, and other applications in countries in the region. The thermoplastic composites market in North America is estimated to witness moderate revenue growth over the forecast period. Increasing government investments in automotive and aerospace & defense sectors in the region is another factor expected to support revenue growth in the North America market.
Global Thermoplastic Composites Market Segmentation:
Segmentation on the Basis of Product Type:
- Short Fiber Thermoplastic Composites
- Long Fiber Thermoplastic Composites
- Continuous Fiber Thermoplastic Composites
- Glass Mat Thermoplastic Composites
Segmentation on the Basis of Fiber Type:
- Glass Fiber
- Carbon Fiber
- Others (Aramid Fiber and Boron Fiber)
Segmentation on the Basis of Resin Type:
- Polypropylene Resin
- Polyamide Resin
- Polyether ether ketone (PEEK) Resin
- Others (Epoxy Resin, Polyurethane Resin, Polystyrene Resin, and Unsaturated Polyester Resin)
Segmentation on the Basis of Application:
- Aerospace & Defense
- Electrical & Electronics
- Others (Consumer Goods and Construction)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Koninklijke DSM N.V.
- Celanese Corporation
- Saudi Basic Industries Corporation
- Koninklijke Ten Cate NV
- DowDuPont Inc.
- Lanxess AG
- Solvay SA
- BASF SE
- Arkema S.A.
- PolyOne Corporation
- Quadrant AG (A Subsidiary of Mitsubishi Chemical Corporation)
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