Growing demand from industries such as consumer goods, electronics, transportation, and aerospace & defense is the major factor for the growth of thermoplastic composites and is expected to lead the market in the near future.
Glass fiber-reinforced thermoplastic composites is estimated to hold the largest share in the global market, due to its increased consumption of thermoplastic composites basically due to its light weight properties together with high stiffness for a number of applications in consumer goods & electronics, aerospace & defense, and automotive applications. In terms of value, the carbon fiber-reinforced thermoplastic composites market accounted for the second-largest position in the market in 2018.
The thermoplastic composites used in the aerospace & defense applications is witnessing a high growth across the globe owing to its light-weight feature in the aerospace industry and hence facilitate more efficient designs suitable for various purposes. The thermoplastic materials used in interior components including floor panels, luggage bins, seats, trolleys, separation panels, keel beams, seals, fuel pipes, and bulkheads. An increasing number of aircraft deliveries in the coming years is expected to drive the growth of the market.
The demand for thermoplastic composites made up of polyamide resin is driven mainly due to considerable requirement from the automotive, consumer goods, and electrical & electronics industries. PA based compounds offer excellent wear resistance and high ductility, excellent mechanical strength, and stiffness, which makes them highly suitable and hence preferred for automotive applications over other alternatives. Also, polyamide is easy to process, with good dielectric properties that enables automotive OEMs to reduce weight without compromising on vehicle’s performance.
APAC is anticipated to lead the market of thermoplastic composites, and the trend is expected to remain the same during the forecast period. Demand from end-users like aerospace & defense, automotive, and electrical & electronics industries is playing a pivotal role in the higher consumption of thermoplastic composites. Moreover, increasing wind turbine installations in the region is also supporting the growth of thermoplastic composites in the region.
Celanese Corporation (US), DowDuPont Inc. (US), Koninklijke DSM N.V. (Netherlands), Solvay S.A. (Belgium), Toray Industries, Inc. (US), Lanxess AG (Germany), and SABIC (Saudi Arabia) are few of the leading players in the thermoplastic composites market.
Key Questions Addressed by the Report
· What are the major applications of thermoplastic composites?
· Which industry is the major consumer of thermoplastic composites?
· Which region is the largest and fastest-growing market for thermoplastic composites?
· What are the major resin types of thermoplastic composites?
What are the major strategies adopted by leading market players?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Increasing Demand for Thermoplastic Composites in Transportation and Aerospace & Defense Applications
3.1.2.Growth of Consumer Goods and Electronics Industries
3.2.1.Development of Low-Cost Production Technology
3.2.2.High Cost of Raw Materials
3.2.3.Difficulty in Fiber-Reinforcement
3.3.1.Increasing Demand for Thermoplastic Composites From Emerging Countries
3.3.2.Growing Market for Electric Vehicles
4. Executive Summary
5. Thermoplastic Composites Market, By Resin Type
5.5. Others (PC, ABS, PE, etc.)
6. Thermoplastic Composites Market, By Fibre Type
6.4. Others (Natural, Basalt, Aramid)
7. Thermoplastic Composites Market, By Application
7.2. Aerospace & defense
7.3. Wind Energy
7.4. Consumer Goods & Electronics
7.6. Sports & Leisure
7.7. Others (Medical, Oil & Gas, Marine, etc.)
8. Thermoplastic Composites Market, By product Type
9. Thermoplastic Composites Market, By Region
9.1. North America
9.4. Latin America
9.5. Middle East and Africa
10. Company Profiles
10.1. Leading Companies in Thermoplastic Composites Market
10.1.1. Celanese Corporation
10.1.2. DowDuPont Inc.
10.1.3. Koninklijke DSM N.V.
10.1.4. Toray Industries, Inc.
10.1.6. Lanxess AG
10.1.7. Solvay S.A.
10.1.8. BASF SE
10.1.9. Polyone Corporation
10.1.10. Mitsubishi Chemical Advanced Materials
*Company introduction, financial information, recent developments, SWOT analysis
11. Conclusion and Recommendations
12.2. Related Reports