Long Fiber Thermoplastics (LFT) Market size was over USD 1.5 billion in 2018 and the industry expects a demand of above 690 kilo tons by 2025 owing to its application in aviation industry for manufacturing of aviation equipment’s as it is effectively cheaper as compared to metallic components and its convention in prefabricated movable houses as it upholds lightweight properties which makes them very trivial and easy to transport.
Long Fiber Thermoplastics are utilized in manufacturing of automotive components like car seats, dashboards and doors owing to its frivolous and robust mechanical stability. Global auto parts manufacturing market may surpass USD 465 billion by 2025. LFT are also utilized in manufacturing of electrical equipment’s as it upholds high thermal resistance which formulates it as virtuous insulator.
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Obese and deskbound lifestyle has increased medical ailments among individuals which has shifted public focus on cycling and sports activities. Global bicycle market is anticipated to surpass USD 80 billion by 2025. These factors have led to increase in sales of bicycles owing to its perfunctory, durability and toughness. Reinforced LFT is utilized in production of golf shaft, badminton racquets and chess boards.
Carbon fiber reinforced thermoplastics is utilized in automotive industry as it provides superfluous fuel efficiency owing to its lightweight property. Global automotive industry was estimated at USD 4 trillion in 2018 and significant rise in demand is anticipated in impending period. Automobiles consists of complex design and need flexible material to make aerodynamic structures to reduce drag and wind noise in car cabins which in turn may upsurge the long fiber thermoplastics market by 2025.
These thermoplastics are also utilized as composites in building and constructions because of its corrosion free and nonconductive nature which internally shields building structures and increase its involuntary strength and life. Global construction market is likely to surpass USD 15 trillion by 2025. Increasing usage of alternatives like thermosets owing to their structural integrity, thermal & heat resistant it is widely utilized in automotive, aerospace and construction industry as it upholds lower cost.
|Long Fiber Thermoplastics Market Size in 2018:||1.5 Billion (USD)|
|Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||10%|
|2025 Value Projection:||3 Billion (USD)|
|Historical Data for:||2014 to 2018|
|No. of Pages:||450|
|Tables, Charts & Figures:||527|
|Segments covered:||Material, Resin, Application Automotive and Region|
|Pitfalls & Challenges:|
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LFT is employed in manufacturing of electronic appliances like microwaves, iron, air purifiers, hair driers, ceiling fans and air conditioners owing to its nonconductive nature which may intensify long fiber thermoplastics market size. Global electrical appliance market is projected to surpass USD 1.20 trillion by 2025, which is likely to stimulate product demand by 2025.
Polyamides are blended with LFT in manufacturing of furniture owing to abrasion resistive nature which shield products from external impacts which in turn may intensify product demand. It is also utilized in manufacturing of rail wagons which increases its robustness on track and make locomotion comfortable. These thermoplastics components are deployed in handicraft industry to make pool chairs, office and garden artefacts owing to its mechanical stability and rigidity which shields artefacts from direct sunlight.
Long fiber thermoplastics market size from glass fiber reinforced thermoplastics material may surpass USD 2 billion by 2024. This product is widely used in automotive industry as it boasts flexibility which makes moulding of car parts comfortable. It also provides more resistance for handling damages and prevents cracks which may cause paint pops, blistering and pits which in turn increase bondage and provide mechanical solidity. These products are widely used in building & construction, automotive manufacturing, aerospace industry and electrical industry.
Long fiber thermoplastics market size from polypropylene resin is anticipated to surpass USD 1.5 billion in the estimated time span. The product is utilized in packaging and manufacturing of toys, furniture components and bumpers owing to its chemical and heat resistant properties which may uplift product demand by 2025.
LFT market size from polyamide resin is projected witness gains of over 9% in forecasted timeline. These thermoplastics upholds exceptional mechanical properties because of which it is utilized for industrial application in manufacturing of cars and tractors, dashboards, gaskets and ceiling fans.
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Long glass fiber thermoplastics market size from automobile applications is predicted to witness gains of over 10% in the estimated timeframe. The product is widely used in automotive industry owing to its stiffness and robustness which make it appropriate for manufacturing of sports utility vehicles.
Aerospace application is anticipated to surpass 95 kilo tons by 2025. These products are utilized in aerospace industry for production of aeronautic machineries to reduce bulkiness of these machines which makes conveyance of these machineries easy. It is also employed in production of electronic appliances.
Asia Pacific led by India, South Korea, and Japan long fiber thermoplastics market is predicted to surpass USD 700 million by 2025. The product has usage in manufacturing of automotive interiors, hood components and under bumpers. On the other hand, the Europe may witness significant gains of 9.5% by 2025.
Automobile industry in European region has evolved very rapidly as it houses many big automobile manufacturing companies which has its sales globally. Long fiber thermoplastics (LFT) market size may witness significant gains as carbon reinforced thermoplastics are employed in manufacturing of automobiles to reduce kerb weight of vehicles which will suggestively make vehicles fuel efficient.
Brazil may witness substantial growth in the forecasted timeframe owing to mounting sanitization schemes. Initiative by government has been taken to improve sanitization of this region which in turn has increased construction of waste water management systems which may escalate the long fiber thermoplastics market revenue owing to its low weight and sturdiness.
Global long fiber thermoplastics industry is moderately fragmented with major players including:
Companies have partnered with manufacturers by implementing mergers & acquisitions, partnership, joint ventures and capacity expansion. Companies are focussing on developing new technologies to enhance LFT market. In June 2016 Plasticomp announced that its new research and development lab especially for long fiber thermoplastics.
LFT are heat & thermal resistant components which are largely used in automotive, aerospace and electrical and electronic industries these thermoplastics are blended with glass and carbon fibers to form carbon and glass-based structures which increases robustness of these thermoplastics which may amplify long fiber thermoplastics demand.
Long fiber thermoplastics market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Kilo tons and revenue in USD from 2014 to 2025, for the following segments:
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The above information is provided on a regional and country basis for the following: