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]:
- Automotive
- Consumer Goods
- Industrial
- Others
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)
- Others
By material
form [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:
- LFRT
- D-LFT
By region
[Volume (Kilotons) and $M shipment analysis
from 2012 to 2023]:
- North America
- Europe
- 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 helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
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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