According to a new market report published by
Lucintel, the future of the long fiber thermoplastics (LFT) market looks attractive
with opportunities in the automotive, industrial, and consumer goods industries.
The global LFT market is expected to reach an estimated $1.3 billion by 2024
with a CAGR of 5.4% from 2019 to 2024. The major drivers for this market are increasing
demand for lightweight materials in various end use industries as well as its
performance and process benefits, such higher strength to weight ratio,
recyclability, and remoldablity.
In this
market, fiber (glass and carbon fiber) and resin (polypropylene and polyamide)
are used for producing of long fiber reinforced thermoplastics (LFRT) compound
as well as direct-LFT (D-LFT) based part. Lucintel forecasts that LFRT will
remain the largest segment by value and volume due to increasing demand in the
automotive and industrial application. 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 LFT
market, automotive will remain the largest segment and it is also expected to
witness highest growth during the forecast period supported by growing
automotive production and increasing focus on thermoplastic resin based composite
materials. Door module, front end module, instrumental panel, running board,
and underbody shield are some of the major applications of LFT in the
automotive industry.
By fiber
type, glass fiber based LFT will remain
the largest segment by
value and volume. Carbon fiber based LFT is expected to witness the highest growth
in the forecast period supported by its high performance characteristics. By
resin type, polypropylene resin based LFT will remain the largest segment by
value and volume over the forecast period.
Emerging
trends, which have a direct impact on the dynamics of the LFT market, include,
development of polyamide based LFT/D-LFT for structural application and
increasing use of bio based materials in LFT. SABIC,
Celanese, RTP Company TechnoCompound, and Chisso/JNC Corporation are among the
major suppliers of LFT.
Lucintel,
a leading global strategic consulting and market research firm, has analyzed
the global LFT market
by end use industry, material form, fiber type, resin type, and region, and has compiled a comprehensive
research report entitled “Growth
Opportunities in the Global Long Fiber Thermoplastics (LFT) Market 2019-2024:
Trends, Forecast and Opportunity Analysis”. The Lucintel report serves
as a catalyst for growth strategy as it provides comprehensive data and
analysis on trends, key drivers, and directions. The study includes a forecast
of the global LFT market by end use industry, material
form, fiber type, resin type, and
region as follows:
By End Use Industry [Volume (Kilotons) and Value
($ Million) from 2013 to
2024]:
- Automotive
-
Door Module
-
Front End Module
-
Instrumental Panel
-
Running Board
-
Underbody Shield
-
Others
- Consumer Goods
- Industrial
- Others
By Material Form [Volume (Kilotons) and Value
($ Million) from 2013 to
2024]:
- LFRT
- D-LFT
By Reinforcement Type [Volume (Kilotons) and Value
($ Million) from 2013 to
2024]:
- Glass Fiber
- Carbon Fiber & Others
By Resin Type [Volume (Kilotons) and Value
($ Million) from 2013 to
2024]:
- Polypropylene
- Polyamide
- Others
By Region [Volume (Kilotons) and Value
($ Million) from 2013 to
2024]:
- North America
- Europe
- Asia Pacific
- Rest of the World
This
226-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, strategic
growth consulting, market research due
diligence and business
strategy consulting.
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 answers following 10 key questions:
Q. 1. How big are the opportunities for the
global LFT market by end use industry (automotive, consumer goods, industrial,
and others), by material form (LFRT and D-LFT), by reinforcement type (glass
fiber and carbon fiber & others), resin type (polypropylene, polyamide, and
others), and region (North America, Europe, Asia Pacific and the Rest of the
World)?
Q. 2. Which 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 and challenges of the market?
Q.5. What are the business risks and threats
to the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some 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 competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via material or product substitution?
Q. 11. What M&A activity has occurred in
the last five years and what has its impact been on the industry?
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