Long Fiber Thermoplastics Market Size By Material (Glass, Carbon), By Resin (Polypropylene, Polyamide, Thermoplastic Polyurethane, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, PEEK), By Application (Automotive [Door Module, Air Inlet, Service Panel, Upper Front End, ABS/ESP Bracket ,Battery Cooling Box, Front MFB, Seat Handle, Latch Bracket, Wheel Cover, Seat Back], Aerospace, Electronics Appliances, Sports Leisure, Construction, Furniture), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Feb 2019 | Report ID: GMI1747 | Authors: Kunal Ahuja, Sonal Singh
Long Fiber Thermoplastics (LFT) Market size was over USD 1.5 billion in 2018 and industry expects demand of above 690 kilo tons by 2025.
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Substantial growth of automotive sector has surged demand for these products which may fortify long fiber thermoplastics market size. These products 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, thereby fostering industry growth.
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 which may stimulate the market size owing to its perfunctory, durability and toughness. Reinforced LFT is utilized in production of golf shaft, badminton racquets and chess boards, which may fuel product demand in projected timeline.
Carbon fiber reinforced thermoplastics is utilized in automotive industry as it provides superfluous fuel efficiency owing to its lightweight property which may foster the market size. 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 demand for LFT by 2025.
Long fiber thermoplastics market size is predicted to rise owing to its application in aviation industry for manufacturing of aviation equipment’s as it is effectively cheaper as compared to metallic components. it is also employed for its chemical and corrosion resistant nature which ensures that no damage is caused to aircraft carriers. These factors are likely to intensify product demand 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 which may drive long fibre thermoplastics market size.
LFT industry size may surge owing to its convention in prefabricated movable houses as it upholds lightweight properties which makes them very trivial and easy to transport. LFT components also safeguards houses from physical impacts which may cause impairment, thus propelling market growth.
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 which may hamper LFT industry growth and thus affecting the market price trends.
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. Global furniture market may reach USD 470 billion by 2024 which may surge the market growth.
|Base Year:||2018||Market Size in 2018:||1.5 Billion (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Pages:||450||Tables, Charts & Figures:||527|
|Geographies covered (25):||U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Netherland, Russia, China, India, Japan, South Korea, Australia, Malaysia, Thailand, Indonesia, Brazil, Saudi Arabia, UAE, South Africa, Morocco, Iran|
|Segments covered:||Material, Resin, Application Automotive and Region|
|Companies covered (15):||RTP Company, Polyone Corporation, Plasticomp, Inc., DAICEL POLYMER LTD, SUMITOMO BAKELITE COMPANY LIMITED, Quadrant Plastic Composites (Schweiz) AG, TechnoCompound GmbH, SGL group, Inc, SKYi innovations, Inc, Great Resins Industrial Co, Inc, Celanese, Inc., Solvay Inc, Asahi Kasei, Inc, Lanxess, SABIC|
|Pitfalls & Challenges:||
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Long Fiber Thermoplastics Market, By Material
Long fiber thermoplastics market size from glass fiber reinforced thermoplastics material may surpass USD 2 billion in the estimated timeframe. 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 which may foster market growth.
Long Fiber Thermoplastics (LFT) Market, By Resin
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. These influences will drive market growth in projected timeframe.
Long Fiber Thermoplastics Industry, By Application
Long glass fiber thermoplastics market size from automobile application is predicted to witness gains of over 10% in 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 which may foster long fiber thermoplastics market size.
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 which may stimulate industry size.
Long Fiber Thermoplastics Industry, By Region
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, thereby stimulating industry growth.
Europe driven by Italy, France, UK and Germany long fiber thermoplastics industry size 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. These factors are likely to boost regional demand.
Brazil long fiber thermoplastics market size 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 market demand owing to its low weight and sturdiness.
Competitive Market Share
Global long fiber thermoplastics market share is moderately fragmented with major players including SABIC, RTP Company, Solvay group, Asahi Kasei, Celanese Corporation, Plasticomp and Quadrant Group.
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.
Long Fiber Thermoplastics Industry Background
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.
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