Opportunities in the global short fiber thermoplastics market to reach $14.2 billion by 2023

According to a new market report published by Lucintel, the future of the global short fiber reinforced thermoplastics market looks promising with opportunities in transportation, consumer goods, and electrical/electronics industries. The global short fiber thermoplastics market is expected to reach an estimated $14.2 billion by 2023 with a CAGR of 3.4% from 2018 to 2023. The major drivers for this market are growing demand for lightweight materials as well as recyclability, ease of processing, and better capability of making parts with complex geometry.

In this market, fiber (glass fiber, carbon fiber) and resin (polyamide, polypropylene, and polybutylene terephthalate) are the major raw materials used for producing short fiber reinforced thermoplastic composites. Lucintel forecasts that transportation will remain the largest end use industry by value and volume due to the wide application of SFT as it offers higher strength to weight ratio, recyclability, and have ability to mold complex shapes. Consumer goods segment is expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance plastics.

By fiber type, glass fiber based SFT is expected to remain the largest segment over the forecast period. By resin type, polyamide based composites 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 short 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 high temperature resistance PA6 compounds to replace PA46 and PA12 and increasing use of recycled carbon fiber in SFT. BASF, DSM, DowDuPont, SABIC, and Lanxess are among the major suppliers of SFT.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global thermoplastic composites market by end use industry, resin type, fiber type, and region, and has come up with a comprehensive research report entitled  “Growth Opportunities in the Global Short 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 short fiber thermoplastic composites market by end use industry, resin type, fiber type, and region, as follows:

By end use Industry [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

•          Transportation
•          Consumer Goods
•          Electrical & Electronics
•          Others

By fiber type [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

•          Glass fiber
•          Carbon fiber

By resin type [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

•          Polyamide (PA)
•          Polypropylene (PP)
•          Polybutylene terephthalate (PBT)
•          Others

By region [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

•          North America
•          Europe
•          Asia Pacific
•          Rest of the World

This 214-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 short fiber reinforced thermoplastics market by end use industry (transportation, consumer goods, electrical/electronics, and others), fiber type (glass fiber, and carbon fiber), resin type (PP, PA, PBT, and 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?