“Long Fiber Thermoplastic (LFT) market projected to grow at a CAGR of 8.96% during the forecast period”
The global Long Fiber Thermoplastic (LFT) market is projected to reach USD 4.26 billion by 2021, at a CAGR of 8.96% from 2016 to 2021. The key factor expected to drive the growth of the long fiber thermoplastic market is the increasing demand from the automotive industry, as long fiber thermoplastics helps to reduce the overall weight while improving the mechanical strength of the vehicle. long fiber thermoplastics are cost-effective means of substituting engineering plastics and metals to ensure the manufacturing of efficient, productive, and lightweight components, leading to lower fuel consumption. This has led to the increasing adoption of long fiber thermoplastics in the automotive industry. However, weaker mechanical and thermal properties as compared to thermoset composites may restraint the growth of the market.
“Polypropylene is projected to be the fastest-growing segment of the long fiber thermoplastic market, in terms of value.”
The unique properties and ability to adapt to various fabrication techniques of long fiber thermoplastics make it a suitable material in a wide range of applications. PP resins have high resistance to temperature and is used along with glass or carbon fibers to manufacture electronic components. PP resins are used to manufacture lightweight automobile components to enhance fuel economy and decrease emissions.
“Europe is expected to be the fastest-growing market for long fiber thermoplastics.”
Europe is expected to be the fastest-growing market for long fiber thermoplastics during the next five years. The market in this region is driven by the increasing consumption of long fiber thermoplastics in the automotive industry. Europe is more receptive to long fiber thermoplastics as compared to other regions, owing to the stringent regulations related pertaining to carbon emissions in the region. These regulations have led to automotive manufacturers focusing on the development of lightweight vehicles, which help to increase fuel efficiency and consequently reduce carbon emission.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1 - 25%, Tier 2 - 40%, and Tier 3 - 45%
- By Designation- C Level - 10%, Director Level - 30%, and Others - 60%
- By Region- North America - 20%, Europe - 60%, Asia-Pacific - 10%, ME&A - 5%, and Latin America - 5%
The report provides a comprehensive analysis of company profiles of the companies listed below:
- Celanese Corporation (U.S.)
- PolyOne (U.S.)
- Solvay SA (Belgium)
- PlastiComp Inc. (U.S.)
- RTP Company (U.S.)
- Lanxess AG (Germany)
- Asahi Kasei Plastics North America (U.S.)
- Daicel Polymer Ltd. (Japan)
- Quadrant AG (Switzerland)
- SBHPP (Japan)
This report covers the global long fiber thermoplastics market and forecasts the market size till 2021. The report includes the market segmentation by resin type (Polypropylene (PP), Polyamide (PA), Polybutylene Terephthalate (PBT), others), application (automotive, electrical & electronics, consumer goods, sporting goods, others), fiber type (long glass fiber thermoplastic, carbon fiber thermoplastic, others) and region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). Porter’s five force analysis, along with the drivers, restraints, challenges, and opportunities of the market have been discussed in the report. The report also provides company profiles and competitive strategies adopted by the major market players in the global long fiber thermoplastics market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global long fiber thermoplastics market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand competitors and gain more insights to better their positions in their businesses. The competitive landscape section includes the competitor ecosystem, new product developments, investments & expansions, agreements, partnerships & joint ventures, and mergers & acquisitions.