Long-Fiber Thermoplastics Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|CAGR||> 6.00 %|
|Fastest Growing Market||Asia Pacific|
*Disclaimer: Major Players sorted in no particular order
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Long-Fiber Thermoplastics Market Analysis
The long-fiber thermoplastics market is expected to witness a CAGR of more than 6% during the forecast period(2022-2027). The major factor driving the growth of the market studied is the increased demand for fuel-efficient transport vehicles.
- However, the technically advanced and expensive forming process is a hurdle to the market studied.
- Growing usage in the Asia-Pacific region is projected to act as an opportunity for the market in the future.
Long-Fiber Thermoplastics Market Trends
This section covers the major market trends shaping the Long-Fiber Thermoplastics Market according to our research experts:
Increasing Demand for Long-fiber Thermoplastics in Automotive Production
- Long-fiber thermoplastics have gained popularity among thermoplastics matrix composites, mainly due to significant technological developments in the automotive industry.
- Long-fiber thermoplastics are used in the automotive industry to reduce an automobile's overall weight, gain fuel efficiency, and meet various regulations by EPA and other government authorities.
- Long-fiber thermoplastics are used in both interior and exterior applications. The most common applications include powertrain, under-hood, and body components, such as upper front end, service panel, battery cooling box, door module, wheel cover, latch bracket, sunroof components, seat handle, seat back, and air inlet components, among others.
- Furthermore, long-fiber thermoplastics provide high strength, design freedom, and dimensional stability. Thereby, they have gradually become an integral part of the automotive industry.
- With long-fiber thermoplastics expected to replace conventional materials in the aforementioned industry, their usage is expected to grow in the coming years. Moreover, the rising demand for automobiles is estimated to positively impact the demand for long-fiber thermoplastics during the forecast period.
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Asia-Pacific Region to Experience Healthy Growth
- Asia-Pacific has been projected to experience healthy growth in the long-fiber thermoplastics market, owing to major developing nations, such as China, India, and the ASEAN countries.
- China is one of the largest producers and consumers of long-fiber thermoplastics in the region. In China, the consumption of long-fiber thermoplastics has increased drastically recently due to the growing population, increasing urbanization, and substitution of many metals by suitable long-fiber thermoplastics in variable applications.
- The long-fiber thermoplastics are used to manufacture various products employed in packaging, automotive, and many other sectors. The demand for long-fiber thermoplastics is increasing from various end-user industries, including electrical and electronics, aerospace, automotive, buildings and construction, sporting equipment, and others.
- The abundant availability of raw materials and low cost of production is estimated to drive the demand for long-fiber thermoplastics in the Asia-Pacific region during the forecast period.
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Long-Fiber Thermoplastics Industry Overview
The long-fiber thermoplastics market is partially fragmented. Key players in the market include Celanese Corporation, Avient Corporation, RTP Company, Solay, and LANXESS, amongst others.
Long-Fiber Thermoplastics Market Leaders
*Disclaimer: Major Players sorted in no particular order
Long-Fiber Thermoplastics Market News
The recent developments about the major players in the market are covered in the complete study.
Long-Fiber Thermoplastics Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increase in Defense Spending by Many Countries
4.1.2 Increase in Demand for Fuel-efficient Transport Vehicles
4.2.1 Technically Advanced and Expensive Forming Process
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Resin Type
5.1.3 Polybutylene Terephthalate
5.1.4 Other Resin Types
5.2 End-user Industry
5.2.3 Electrical & Electronics
5.2.4 Buildings & Construction
5.2.5 Sporting Equipment
5.2.6 Other End-user Industries
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Asahi Kasei Corporation
6.4.2 BASF SE
6.4.3 Celanese Corporation
6.4.4 Daicel corporation
6.4.5 GS Caltex Corporation
6.4.7 Mitsui Chemicals Inc.
6.4.8 Avient Corporation
6.4.9 Polyram Group
6.4.11 SGL Carbon
6.4.12 RTP Company
6.4.14 Sumitomo Bakelite Co. Ltd (SBHPP)
6.4.15 Sumitomo Chemical Co. Ltd
6.4.16 TechnoCompound GmbH (Polymer Group)
6.4.17 TORAY INDUSTRIES INC.
6.4.18 Xiamen LFT Composite Plastic Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Usage in the Asia-Pacific Region
Long-Fiber Thermoplastics Market Research FAQs
What is the current Long-fiber Thermoplastics Market size?
The Long-fiber Thermoplastics Market is projected to register a CAGR of greater than 6% during the forecast period (2023-2028).
Who are the key players in Long-fiber Thermoplastics Market?
Celanese Corporation, RTP Company, LANXESS, Solvay and Avient Corporation are the major companies operating in the Long-fiber Thermoplastics Market.
Which is the fastest growing region in Long-fiber Thermoplastics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Long-fiber Thermoplastics Market?
In 2023, the Europe accounts for the largest market share in the Long-fiber Thermoplastics Market.
Long-fiber Thermoplastics Industry Report
Statistics for the 2023 Long-fiber Thermoplastics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Long-fiber Thermoplastics analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.