Thermoplastic Composites Market Fiber Type (Glass, Carbon), Resin Type (PP, PA, PEEK), Product Type (Short Fiber, Long Fiber, Continuous Fiber, Glass Mat), Application (E&E, Transportation, A&D) and Region - Global Forecast to 2022
“The thermoplastic composites market is projected to grow at a CAGR of 8.34% from 2017 to 2022 in terms of value.”
The thermoplastic composites market is projected to grow from USD 28.09 billion in 2017 to USD 41.93 billion by 2022, at a CAGR of 8.34% from 2017 to 2022. Increasing use of thermoplastic composites in various applications such as aerospace & defense and transportation is fueling the growth of the thermoplastic composites market across the globe. The stringent implementation of various regulations such as the Corporate Average Fuel Efficiency (CAFE) standards and the European Emission Standards (EES) formulated by the US and European governments, respectively to reduce CO2 emissions has led to the increased use of lightweight composites for manufacturing automobiles. These lightweight materials not only contribute to the aesthetic value of automobiles but also offer high resistance to fire, smoke, and toxicity. The high costs of raw materials leading to increased investments for manufacturing new and advanced thermoplastic composites are restricting the growth of the thermoplastic composites market across the globe.
“Based on resin type, the polypropylene resin segment is projected to lead the thermoplastic composites market during the forecast period, in terms of both, value as well as volume.”
Polypropylene resins are widely used in transportation, electrical & electronics, marine, sporting goods, and building & construction applications, thereby contributing to the growth of the polypropylene resin segment of the thermoplastic composites market across the globe. Significant properties offered by polypropylene resins, which include high chemical resistance, fatigue resistance, insulation, elasticity, transmissivity, cost efficiency, and toughness contribute to their increased use in various applications.
“Among fiber types, the carbon fiber thermoplastic composites segment of the thermoplastic composites market is projected to grow at the highest CAGR during the forecast period in terms of both, value as well as volume.”
Manufacturers of thermoplastic composites are increasingly adopting high-performance carbon fibers to manufacture Carbon-Fiber-Reinforced Thermoplastics (CFRTP), which are not only lightweight but also offer increased stiffness. The carbon fiber thermoplastic composites segment of the thermoplastic composites market is witnessing significant growth due to various technological innovations in the manufacturing processes of new high-value CFRTP, which is used in aerospace & defense and transportation applications.
“The Asia Pacific thermoplastic composites market is projected to grow at the highest CAGR, in terms of both, value as well as volume between 2017 and 2022.”
The Asia Pacific thermoplastic composites market is projected grow at the highest CAGR during the forecast period. The growth of the Asia Pacific thermoplastic composites market can be attributed to increased use of thermoplastic composites in electrical & electronics and transportation applications. The increased production of vehicles made of thermoplastic composites is an emerging trend in the automobile industry of the region as these vehicles have high potential to meet the strict government regulations regarding the reduction of CO2 emissions.
This study has been validated through primaries conducted with various industry experts across the globe. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1 - 21%, Tier 2 - 37%, and Tier 3 - 42%
• By Designation- C-Level Executives - 30%, Directors - 25%, and Others - 45%
• By Region- Asia Pacific - 40%, North America - 20%, Europe - 27%, the Middle East & Africa - 7%, and Latin America - 6%
The report provides a comprehensive analysis of the profiles of the companies listed below:
• Celanese Corporation (US)
• DuPont (US)
• Royal DSM N.V. (Netherlands)
• Koninklijke Ten Cate bv (Netherlands)
• SABIC (Saudi Arabia)
• Lanxess AG (Germany)
• Solvay S.A. (Belgium)
• BASF SE (Germany)
• PlastiComp, Inc. (US)
• PolyOne Corporation (US)
• Quadrant AG (Switzerland)
This report covers the thermoplastic composites market and forecasts the size of the market till 2022. The report includes the segmentation of the thermoplastic composites market based on fiber type, resin type, application, product type, and region. The Porter’s five force analysis, along with drivers, restraints, challenges, and opportunities of the thermoplastic composites market have been discussed in the report. The report also provides company profiles and competitive benchmarking adopted by the major players operating in the thermoplastic composites market.
Benefits of Buying the Report
The report is expected to help market leaders/new entrants in the thermoplastic composites market in the following ways:
• This report comprehensively segments the thermoplastic composites market and provides the closest approximations of revenues for the overall market and its subsegments across different verticals and regions.
• The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the thermoplastic composites market.
• This report is also expected to help the stakeholders understand their competitors and gain insights to improve their position in the thermoplastic composites market. The competitive landscape section includes an ecosystem of competitors and detailed information on new product developments, expansions & investments, partnerships, agreements & contracts, and acquisitions.