DUBLIN, Jan. 30, 2023 /PRNewswire/ — The “Long Fiber Thermoplastics Market Size, Share & Trends Analysis Report By Resin Type (Polypropylene, Polyamide, Polyether Ether Ketone), By Fiber, By Manufacturing Process, By End-use, By Region, And Segment Forecasts, 2022 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global long fiber thermoplastics market size is anticipated to reach USD 9.3 billion by 2030. It is expected to exhibit a CAGR of 9.7% in terms of revenue from 2022 to 2030. Increasing demand for lightweight materials with high strength in the automotive, aerospace, and electrical & electronics industry is expected to propel the demand for long-fiber thermoplastics.
Long-fiber thermoplastics are majorly used in the automotive industry. According to the European Automobile Manufacturers’ Association (ACEA), global vehicle production increased by 1.3% in 2021 compared to 2020. The global production of vehicles reached 79.1 million in 2021. Increasing production and sales of automobiles in the world are expected to propel the long-fiber thermoplastics demand.
Long Fiber Thermoplastics Market Report Highlights
Based on resin type, the polypropylene segment accounted for the largest revenue share of 58.0% in 2021 and is expected to retain its dominance over the forecast period. The demand for polypropylene-based LFTs is more owing to their cheap price compared to other polymer-based LFTs such as polyether ether ketone and polyamide-based LFTs
Based on fiber, the glass fiber segment is expected to witness a CAGR of 9.0% during the forecast period. The growth of this segment can be attributed to the increasing demand for glass fiber thermoplastics in the automotive industry. Glass fiber thermoplastics have properties such as stiffness, lightweight, and durability which makes them a great alternative to metal in the automotive industry
Based on the manufacturing process, the injection molding segment accounted for the largest revenue share of 45.0% in 2021 and is expected to retain its dominance over the forecast period. This manufacturing process is highly used in the plastics industry owing to its several advantages such as low manufacturing cost and less complexity compared to the pultrusion and D-LFT process
The automotive segment is expected to witness a CAGR of 9.5% during the forecast period in terms of revenue. This is due to the rising production of Electrical Vehicles (EVs) across the globe. Long fiber thermoplastics are increasingly finding application in electric vehicles owing to their lightweight and high strength. According to International Energy Agency (IEA), the sales of EVs doubled in 2021 and reached a mark of 6.6 million EVs globally
Asia Pacific dominated the market and accounted for the largest market share of 40.2% in 2021 and is expected to retain its dominance over the forecast period. China is a major contributor to the regional market. The majority of long fiber thermoplastics are consumed in China to manufacture vehicles, electronic devices, and other consumer products
In March 2022, Polyplastics Group launched a new eco-friendly long fiber thermoplastic i.e., PLASTRON LFT. The new product is made of regenerated cellulose fibers, it provides weight reduction and mechanical strength which helps manufacturers to reduce their carbon footprint and meet sustainability
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Long Fiber Thermoplastics Market: Variables, Trends & Scope
Chapter 4 Long Fiber Thermoplastics Market: Resin Type Estimates & Trend Analysis
4.1 Global Long Fiber Thermoplastics Market: Resin Type Movement Analysis & Market Share, 2021 & 2030
4.2 Polypropylene
4.3 Polyamide
4.4 Polyether Ether Ketone
4.5 Others
Chapter 5 Long Fiber Thermoplastics Market: Fiber Estimates & Trend Analysis
5.1 Global Long Fiber Thermoplastics Market: Fiber Movement Analysis & Market Share, 2021 & 2030
5.2 Glass Fiber
5.3 Carbon Fiber
5.4 Others
Chapter 6 Long Fiber Thermoplastics Market: Manufacturing Process Estimates & Trend Analysis
6.1 Global Long Fiber Thermoplastics Market: Manufacturing Process Movement Analysis & Market Share, 2021 & 2030
6.2 Injection Molding
6.3 Pultrusion
6.4 D-LFT
6.5 Others
Chapter 7 Long Fiber Thermoplastics Market: End-use Estimates & Trend Analysis
7.1 Global Long Fiber Thermoplastics Market: End-use Movement Analysis & Market Share, 2021 & 2030
7.2 Automotive
7.3 Aerospace
7.4 Electrical & Electronics
7.5 Buildings & Construction
7.6 Sporting Goods
7.7 Others
Chapter 8 Global Long Fiber Thermoplastics Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
Chapter 11 KoL Commentary
Companies Mentioned
SABIC
Solvay
RTP Company
JNC Corporation
Avient Corporation
Celanese Corporation
LANXESS
Daicel Corporation
Kingfa SCI. & TECH. CO., LTD.
SGL Carbon
Asahi Kasei Corporation
For more information about this report visit https://www.researchandmarkets.com/r/60vld5-fiber?w=5
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