According to a new market report published by Lucintel, the future of the global thermoplastic composites market looks good with opportunities in transportation, consumer goods, industrial, and construction industries. The global thermoplastic composites market is expected to reach an estimated $16.4 billion by 2021 and it is forecast to grow at a CAGR of 4.8% by value from 2016 to 2021. The major drivers for market growth are the increasing demand for lightweight and environmentally sustainable materials, and the replacement of metals with composites in different end use industries.
In this market, transportation, consumer goods, industrial, and construction are the major end use industries. On the basis of its comprehensive research, Lucintel forecasts that the transportation and construction segments are expected to show above average growth during the forecast period.
Within the global thermoplastic composites market, the transportation segment is expected to remain the largest segment by value and volume. Expected increasing global automotive production and increasing demand for lightweight materials to achieve higher fuel efficiency are the major driving forces that spur growth for this segment over the forecast period.
By material type, the short fiber thermoplastic (SFT) is expected to remain the largest segment due to its ability to mold complex shaped parts.
By fiber type, glass fiber reinforced thermoplastic composites segment is expected to remain the largest segment over the forecast period. By resin type, polyamide based composites is expected to remain the largest segment by both value and volume. The growing use of high heat resistance thermoplastic composites in automotive under-hood applications is likely to drive the consumption of polyamide based materials over the forecast period.
Europe is expected to remain the largest market for thermoplastic composites due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries.
Asia Pacific is expected to witness the highest growth rate during the forecast period due to the expected increase in vehicle production and an increasing focus on lightweight composite materials. Asia Pacific is also anticipated to have growth consumer goods and the electrical/electronics industry.
For business expansion, Lucintel’s report suggests innovation and new product development to achieve higher thermal and hydrolysis resistance with improved mechanical properties. The report further suggests the development of partnerships with customers to create win-win situations and the development of solutions for customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing inter-material competition and increasing focus on continuous fiber reinforced thermoplastic composites. SABIC, DuPont, LANXESS, BASF, DSM, Solvay, Celanese, RTP Company, JNC Corporation, TechnoCompound, Quadrant AG, and Hanwha are among the major suppliers of thermoplastic composites.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global thermoplastic composites market by end use industry, material type, resin type, fiber type, and region, and has complied a comprehensive research report entitled “Growth Opportunities in the Global Thermoplastic Composites Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for growth opportunities in the global thermoplastic composites market by end use industry, material type, resin type, fiber type, and region, as follows:
By end use Industry (Volume (M lbs) and Value ($ Million) from 2010 to 2021):
• Consumer Goods
By Material Type (Volume (M lbs) and Value ($ Million) from 2010 to 2021):
• Short fiber thermoplastics (SFT)
• Long fiber thermoplastics (LFT)
• Continuous fiber thermoplastics (CFT)
• Glass Mat Thermoplastics (GMT)
By fiber type (Volume (M lbs) and Value ($ Million) from 2010 to 2021):
• Glass fiber
• Carbon fiber & others
By resin type (Volume (M lbs) and Value ($ Million) from 2010 to 2021):
• Polypropylene (PP)
• Polyamide (PA)
• Polybutylene terephthalate (PBT)
By region (Volume (M lbs) and Value ($ Million) from 2010 to 2021):
• North America
• Asia Pacific
• Rest of the World
This 213-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, SWOT Matrix, Due Diligence and Mergers & Acquisitions.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the global thermoplastic composites market by end use industry (transportation, consumer goods, construction, industrial, and others), material type (SFT, LFT, GMT, and CFT), fiber type (glass fiber, and carbon fiber and other), resin type (PP, PA, PBT, others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?