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Opportunities In The Global Long Fiber Thermoplastics Market To Reach $1.2 Billion By 2023
According to a new market report published by Lucintel, the future of the global long fiber reinforced thermoplastics market looks promising with opportunities in automotive, consumer goods, and industrial markets. The global long fiber reinforced thermoplastics market is expected to reach an estimated $1.2 billion by 2023 with a CAGR of 5.3% from 2018 to 2023. The major drivers for this market are growing demand for lightweight materials and higher strength to weight ratio in the automotive, consumer goods, and industrial applications as well as recyclability and ease of processing of LFT.
In this market, fiber (glass fiber, carbon fiber) and resin (polypropylene, polyamide) are the major raw materials used for producing long fiber reinforced thermoplastic composites, such as LFRT and D-LFT. Lucintel forecasts that LFRT will remain the largest segment by value and volume due to its wide application area. The D-LFT segment is expected to witness highest growth over the forecast period due to the growing in-line part fabrication in automotive industry.
Within long fiber thermoplastic composites market, transportation will remain the largest end use industry by value and volume due to increasing demand for lightweight materials. Automotive segment is also expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance materials.
By fiber type, glass fiber based LFT is expected to remain the largest segment over the forecast period. By resin type, polypropylene resin based LFT is expected to remain the largest segment by both value and volume. The growing use of high heat resistance thermoplastic composites is likely to drive the consumption of polyamide resin based SFT over the forecast period.
Europe is expected to remain the largest market for long fiber thermoplastics due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries. ROW 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.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of PA based LFT/D-LFT for structural application and increasing use of bio based materials in LFT. SABIC, Celanese, Chisso, TechnoCompound, and RTP Company are among the major suppliers of LFT.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global long fiber thermoplastics market by end use industry, material form, resin, fiber, and region, and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Long Fiber Reinforced Thermoplastics Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategies as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global long fiber thermoplastics market by end use industry, material form, resin, fiber, and region, as follows:
By end use Industry [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:
• Consumer Goods
By fiber type [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:
• Glass fiber
• Carbon fiber & others
By resin type [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:
• Polypropylene (PP)
• Polyamide (PA)
By material form [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:
By region [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:
• North America
• Asia Pacific
• Rest of the World
This 222-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, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the global long fiber reinforced thermoplastics market by end use industry (automotive, consumer goods, industrial, and others), material form (LFRT, D-LFT), 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?
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