Long Fiber Thermoplastics Market Forecasts to 2030 – Global Analysis By Fiber Type (Glass, Carbon, Aramid , Natural and Other Fiber Types), Resin Type, Manufacturing Process, Application, End User and By Geography
Description
Long Fiber Thermoplastics Market Forecasts to 2030 – Global Analysis By Fiber Type (Glass, Carbon, Aramid , Natural and Other Fiber Types), Resin Type, Manufacturing Process, Application, End User and By Geography
According to Stratistics MRC, the Global Long Fiber Thermoplastics Market is accounted for $4.3 billion in 2023 and is expected to reach $9.1 billion by 2030 growing at a CAGR of 11.3% during the forecast period. Long Fiber Thermoplastics (LFT) are a type of composite material that combines thermoplastic polymers with long fibers, typically glass or carbon fibers. The process of creating LFT involves impregnating the long fibers with a molten thermoplastic resin, which is then cooled and solidified to form a solid composite structure. This manufacturing technique allows for a high degree of control over the distribution and orientation of the fibers within the thermoplastic matrix, resulting in materials with enhanced mechanical properties such as strength, stiffness, impact resistance, and dimensional stability.
According to International Energy Agency (IEA), in 2021 sales of EVs were the highest in China at 3.3 million.
Market Dynamics:
Driver:
Increased demand for fuel-efficient vehicles
The market is witnessing a surge in demand driven by the increased emphasis on fuel-efficient vehicles. As environmental concerns grow and regulations tighten, automakers are turning to LFTs due to their lightweight yet strong properties, enabling improved fuel economy without compromising performance. This shift reflects a broader industry trend towards sustainability and eco-friendly materials, positioning LFTs as a key player in the development of next-generation automobiles.
Restraint:
Availability of substitutes
In the market, substitutes are relatively limited due to the unique properties they offer. Alternatives like short fiber thermoplastics lack the same strength and impact resistance as LFTs. Composites such as glass fiber reinforced plastics (GFRP) provide strength but lack the moldability and lightweight characteristics of these thermoplastics. However, continuous advancements in materials science may introduce new substitutes or variations in the future.
Opportunity:
Growing demand across industries
The market is witnessing a surge in demand across various industries. Automotive, aerospace, electronics, and consumer goods sectors are particularly driving this growth. It offers lightweight, high-strength solutions, making it ideal for applications requiring structural integrity and durability. With advancements in material technology and increasing emphasis on sustainability, the demand continues to rise as industries seek efficient and eco-friendly materials to meet their evolving needs.
Threat:
High processing & manufacturing costs
High processing and manufacturing costs continue to pose challenges in the market. These costs stem from intricate production processes, specialized equipment requirements, and the need for precise material formulations. Additionally, the use of long fibers adds complexity to molding and compounding operations, contributing to higher expenses. Despite advancements in technology, addressing these cost issues remains a priority for industry players seeking to enhance competitiveness and promote wider adoption of these materials in various applications.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the Long Fiber Thermoplastics (LFT) market, causing disruptions in supply chains, production slowdowns, and reduced demand due to economic uncertainties. Companies faced challenges in sourcing raw materials and logistics, leading to price fluctuations. However, as industries recovered, there was a gradual rebound in demand, especially in sectors like automotive, aerospace, and construction, driving innovations and investments in LFT technologies for lightweight, durable, and sustainable solutions.
The aramid segment is expected to be the largest during the forecast period
The aramid segment is expected to be the largest during the forecast period due to their exceptional strength, stiffness, and heat resistance. These fibers, such as Kevlar, are being increasingly used in automotive, aerospace, and sports equipment applications. Aramid-based products offer excellent impact resistance and structural integrity, driving their demand in various high-performance industries and shaping the future of composite materials.
The bumpers segment is expected to have the highest CAGR during the forecast period
The bumpers segment is expected to have the highest CAGR during the forecast period. These bumpers, reinforced with long fiber thermoplastics, offer superior impact resistance, lightweight design, and excellent durability, making them ideal for automotive applications. Manufacturers are focusing on developing innovative materials with enhanced strength-to-weight ratios and improved recyclability to meet the growing demands of the automotive industry. This trend indicates a promising future for bumpers as a preferred choice for vehicle safety and performance.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. They offer several advantages over metals and short fiber composites. They are lighter in weight, corrosion-resistant, and can be easily molded into complex shapes, making them suitable for a wide range of applications across different industries. Regulatory factors, including environmental regulations and standards related to material performance and safety, influence the adoption and development in the region.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period driven by increasing demand from automotive, aerospace, and construction industries. Factors such as lightweight properties, high strength-to-weight ratio, and recyclability are driving adoption. Countries are major contributors to market growth due to technological advancements and investments in manufacturing infrastructure. With a focus on sustainability and performance, the market in region is poised for further expansion.
Key players in the market
Some of the key players in Long Fiber Thermoplastics market include Celanese Corporation, BASF SE, Asahi Kasei Corporation, Mitsubishi Chemical Holdings, PlastiComp Inc., RTP Company Inc., Daicel Polymer Ltd., SGL Carbon, Solvay, JNC Corporation, SABIC, Avient Corporation, Lanxess AG, Sumitomo Chemical Co. Ltd and Toray Industries Inc.
Key Developments:
In December 2022, Solvay S.A. partnered with Electronic Fluorocarbons (EFC) to gain exclusive distribution rights for its products in North America.
In November 2022, Celanese Corporation acquired a majority of the stake in the Mobility & Materials Business of DuPont, which improves its thermoplastics and elastomer product portfolio.
In May 2022, Lanxess AG has acquired the DSM Engineering Materials business from Royal DSM, invested jointly by Advent International and Lanxess AG.
Fiber Types Covered:
• Glass
• Carbon
• Aramid
• Natural
• Other Fiber Types
Resin Types Covered:
• Polypropylene (PP)
• Polybutylene Terephthalate (PBT)
• Polyamide (PA)
• Polyether Ether Ketone (PEEK)
• Other Resin Types
Manufacturing Process Covered:
• Injection Molding
• Pultrusion
• Direct-LFT
• Extrusion Molding
Applications Covered:
• Dashboards
• Door Panels
• Bumpers
• Pipes
• Frames
• Other Applications
End Users Covered:
• Automotive
• Aerospace
• Consumer Goods
• Electrical & Electronics
• Building & Construction
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Table of Contents
200 Pages
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Long Fiber Thermoplastics Market, By Fiber Type
- 5.1 Introduction
- 5.2 Glass
- 5.3 Carbon
- 5.4 Aramid
- 5.5 Natural
- 5.6 Other Fiber Types
- 6 Global Long Fiber Thermoplastics Market, By Resin Type
- 6.1 Introduction
- 6.2 Polypropylene (PP)
- 6.3 Polybutylene Terephthalate (PBT)
- 6.4 Polyamide (PA)
- 6.5 Polyether Ether Ketone (PEEK)
- 6.6 Other Resin Types
- 7 Global Long Fiber Thermoplastics Market, By Manufacturing Process
- 7.1 Introduction
- 7.2 Injection Molding
- 7.3 Pultrusion
- 7.4 Direct-LFT
- 7.5 Extrusion Molding
- 8 Global Long Fiber Thermoplastics Market, By Application
- 8.1 Introduction
- 8.2 Dashboards
- 8.3 Door Panels
- 8.4 Bumpers
- 8.5 Pipes
- 8.6 Frames
- 8.7 Other Applications
- 9 Global Long Fiber Thermoplastics Market, By End User
- 9.1 Introduction
- 9.2 Automotive
- 9.3 Aerospace
- 9.4 Consumer Goods
- 9.5 Electrical & Electronics
- 9.6 Building & Construction
- 9.7 Other End Users
- 10 Global Long Fiber Thermoplastics Market, By Geography
- 10.1 Introduction
- 10.2 North America
- 10.2.1 US
- 10.2.2 Canada
- 10.2.3 Mexico
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 Italy
- 10.3.4 France
- 10.3.5 Spain
- 10.3.6 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 Australia
- 10.4.5 New Zealand
- 10.4.6 South Korea
- 10.4.7 Rest of Asia Pacific
- 10.5 South America
- 10.5.1 Argentina
- 10.5.2 Brazil
- 10.5.3 Chile
- 10.5.4 Rest of South America
- 10.6 Middle East & Africa
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 Qatar
- 10.6.4 South Africa
- 10.6.5 Rest of Middle East & Africa
- 11 Key Developments
- 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 11.2 Acquisitions & Mergers
- 11.3 New Product Launch
- 11.4 Expansions
- 11.5 Other Key Strategies
- 12 Company Profiling
- 12.1 Celanese Corporation
- 12.2 BASF SE
- 12.3 Asahi Kasei Corporation
- 12.4 Mitsubishi Chemical Holdings
- 12.5 PlastiComp Inc.
- 12.6 RTP Company Inc.
- 12.7 Daicel Polymer Ltd.
- 12.8 SGL Carbon
- 12.9 Solvay
- 12.10 JNC Corporation
- 12.11 SABIC
- 12.12 Avient Corporation
- 12.13 Lanxess AG
- 12.14 Sumitomo Chemical Co. Ltd
- 12.15 Toray Industries Inc.
- List of Tables
- Table 1 Global Long Fiber Thermoplastics Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Long Fiber Thermoplastics Market Outlook, By Fiber Type (2021-2030) ($MN)
- Table 3 Global Long Fiber Thermoplastics Market Outlook, By Glass (2021-2030) ($MN)
- Table 4 Global Long Fiber Thermoplastics Market Outlook, By Carbon (2021-2030) ($MN)
- Table 5 Global Long Fiber Thermoplastics Market Outlook, By Aramid (2021-2030) ($MN)
- Table 6 Global Long Fiber Thermoplastics Market Outlook, By Natural (2021-2030) ($MN)
- Table 7 Global Long Fiber Thermoplastics Market Outlook, By Other Fiber Types (2021-2030) ($MN)
- Table 8 Global Long Fiber Thermoplastics Market Outlook, By Resin Type (2021-2030) ($MN)
- Table 9 Global Long Fiber Thermoplastics Market Outlook, By Polypropylene (PP) (2021-2030) ($MN)
- Table 10 Global Long Fiber Thermoplastics Market Outlook, By Polybutylene Terephthalate (PBT) (2021-2030) ($MN)
- Table 11 Global Long Fiber Thermoplastics Market Outlook, By Polyamide (PA) (2021-2030) ($MN)
- Table 12 Global Long Fiber Thermoplastics Market Outlook, By Polyether Ether Ketone (PEEK) (2021-2030) ($MN)
- Table 13 Global Long Fiber Thermoplastics Market Outlook, By Other Resin Types (2021-2030) ($MN)
- Table 14 Global Long Fiber Thermoplastics Market Outlook, By Manufacturing Process (2021-2030) ($MN)
- Table 15 Global Long Fiber Thermoplastics Market Outlook, By Injection Molding (2021-2030) ($MN)
- Table 16 Global Long Fiber Thermoplastics Market Outlook, By Pultrusion (2021-2030) ($MN)
- Table 17 Global Long Fiber Thermoplastics Market Outlook, By Direct-LFT (2021-2030) ($MN)
- Table 18 Global Long Fiber Thermoplastics Market Outlook, By Extrusion Molding (2021-2030) ($MN)
- Table 19 Global Long Fiber Thermoplastics Market Outlook, By Application (2021-2030) ($MN)
- Table 20 Global Long Fiber Thermoplastics Market Outlook, By Dashboards (2021-2030) ($MN)
- Table 21 Global Long Fiber Thermoplastics Market Outlook, By Door Panels (2021-2030) ($MN)
- Table 22 Global Long Fiber Thermoplastics Market Outlook, By Bumpers (2021-2030) ($MN)
- Table 23 Global Long Fiber Thermoplastics Market Outlook, By Pipes (2021-2030) ($MN)
- Table 24 Global Long Fiber Thermoplastics Market Outlook, By Frames (2021-2030) ($MN)
- Table 25 Global Long Fiber Thermoplastics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 26 Global Long Fiber Thermoplastics Market Outlook, By End User (2021-2030) ($MN)
- Table 27 Global Long Fiber Thermoplastics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 28 Global Long Fiber Thermoplastics Market Outlook, By Aerospace (2021-2030) ($MN)
- Table 29 Global Long Fiber Thermoplastics Market Outlook, By Consumer Goods (2021-2030) ($MN)
- Table 30 Global Long Fiber Thermoplastics Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 31 Global Long Fiber Thermoplastics Market Outlook, By Building & Construction (2021-2030) ($MN)
- Table 32 Global Long Fiber Thermoplastics Market Outlook, By Other End Users (2021-2030) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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