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The global long fiber thermoplastics market size is projected to grow from USD 2.8 billion in 2020 to USD 4.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% between 2020 and 2025. In comparison to conventional materials such as aluminum steel, long fiber thermoplastics offer strength, tenacity, density, and thermal and electrical conductivity, fatigue, and corrosion resistance properties. Long fiber thermoplastics are preferred in high-performance applications in several end-use industries, driving the demand for long fiber thermoplastics in various end-use industries.
“PA is the fastest-growing resin type of long fiber thermoplastics market in terms of value.”
PA resin type is projected to register the highest CAGR in terms of value between 2020 and 2025. PA is partially crystalline thermoplastics that offer an ideal combination of properties for applications, such as automotive, furniture, medical, and electronics.. The resin is used in long fiber thermoplastics, as it is easy to process, has high resistance to heat and chemical attack, high mechanical strength, and stiffness with good dielectric properties, good friction, and wear resistance.
“Injection molding process is the largest manufacturing process segment of long fiber thermoplastics, in terms of value and volume.”
Injection molding is the largest manufacturing process in the long fiber thermoplastics market. It is a fast, high-volume, closed molding process that uses, most commonly, reinforced thermoplastics composites, such as nylon with chopped glass fiber. It is used for producing parts by injecting molten material into a mold. In the injection molding process, material for the part is fed into a heated barrel; it is mixed and injected into a mold cavity. This is expected to drive the market for injection molding during the forecast period.
“Glass is the largest fiber type in the long fiber thermoplastics market in terms of value.”
Glass fiber type is projected to register the highest CAGR in terms of value between 2020 and 2025. Glass fiber is the most preferred and cost-effective reinforcement used for long fiber thermoplastics. Long glass fiber thermoplastic composites are manufactured through continuous filaments of fiber, which are melt-impregnated with thermoplastic polymer by the pultrusion process to create a high-performance bond. These are then cut into 1/2-inch (12 mm) composite pellets for convenient processing into net shapes via injection molding or extrusion processes.
“Automotive is the largest end-use industry of long fiber thermoplastics, in terms of value.”
The automotive end-use industry accounted for the largest market share in 2019. Long fiber thermoplastics are the cost-effective means of substituting inferior quality engineering plastics and metals, to ensure the manufacturing of efficient, productive, and lightweight components, leading to lower fuel consumption, thus encouraging their use in various automotive applications. Long fiber thermoplastics are mainly used in body panels, sound shields, structural body parts, front-end assemblies, truck panels, as well as doors, tailgates, and fender sections.
“Europe dominated the long fiber thermoplastics market.”
Europe was the largest long fiber thermoplastics market in terms of value in the global long fiber thermoplastics market. APAC dominated the market in 2019, in terms of volume. The key reason for this includes the demand for long fiber thermoplastics in the automotive industry in the region. The demand for long fiber thermoplastics in automotive, electrical & electronics, and other industries is projected to grow due to product innovation and technological advances. The growth of the long fiber thermoplastics industry in this region is further boosted by improved long fiber thermoplastics composite technology solutions and market penetration of long fiber thermoplastics in various end-use industries.
This study has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 35%, Tier 2- 40%, and Tier 3- 25%
- By Designation- C Level- 25%, Director Level- 35%, and Others- 40%
- By Region- North America- 20%, Europe- 35%, Asia Pacific (APAC) - 25%, Latin America-5%, Middle East & Africa (MEA)-15%,
- Celanese Corporation (US)
- SABIC (Saudi Arabia),
- Lanxess AG (Germany),
- BASF SE (Germany),
- Mitsubishi Chemical Holdings (Japan),
- PlastiComp Inc. (US),
- Daicel Polymer Ltd. (Japan),
- Asahi Kasei Corporation (Japan),
- RTP Company Inc.(US),
- Solvay (Belgium)
This report covers the global long fiber thermoplastics market and forecasts the market size until 2025. It includes the following market segmentation – Resin Type (PP, PA, PEEK, PPA, Others), Fiber Type (Glass, Carbon, Others), Manufacturing Process (Injection Molding, Pultrusion Process, D-LFT, Others), End-use Industry (Automotive, Electrical & Electronics, Consumer Goods, Sporting Goods, and Others) and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global long fiber thermoplastics market.
Key benefits of buying the report:
The report is expected to 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 sub-segments across different verticals and regions.
- The report helps stakeholders understand the pulse of the long fiber thermoplastics market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisition.
Reasons to buy the report:
The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall long fiber thermoplastics market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.