Global Thermoplastic Composites Market is valued approximately at USD 21.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2020-2027. Thermoplastic Composites are advanced materials made from structural Polymer composites. These advanced materials have an additional benefit of chemical stability owing to their thermoplastic matrix. These materials can be molded as per requirement using thermal energy as when heated, thermoplastics soften and their shape can be changed and when cooled they solidify into the finished shape without any degradation. Hence the advantageous properties of thermoplastics, namely, fast processing, endurance of high temperatures and recyclability has made these materials a preferred choice in numerous end-use industries driving the market growth. As the Transportation sector is a major end-user of the thermoplastic composites. With the swelling demand for production of light weight automobiles and reduction in emission of CO2 OEMs are using thermoplastic Composites for light weight vehicle manufacture driving the market towards growth. For instance: the carbon emission limits for new cars in EU is proposed to drop from 130 grams to 95 grams per kilometer by the end of 2020. To achieve this target manufacturers, replace metal components of the vehicles with thermoplastic composites. Moreover, expanding use of these materials in Aerospace and Defense, consumer goods, electrical and electronics industries project lucrative market growth opportunities. However, relatively higher cost of raw materials impedes the growth of the market over the forecast period of 2020-2027. Although, Lower cost for consumers and improvement in product performance through innovation is expected to further augment the market growth during the forecast period.
The regional analysis of global Thermoplastic Composites market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the growing production of light weight vehicles and implementation of government laws in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising number of manufacturing facilities would create lucrative growth prospects for the Thermoplastic Composites market across Asia-Pacific region.
Major market player included in this report are:
Mitsubishi Chemical Advanced Materials
Toray Industries, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Resin Type:
By Fiber Type:
By Product Type:
Glass Mat Thermoplastic
By End-Use Industry:
Consumer goods & electronics
Aerospace & Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Thermoplastic Composites Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers