Long Fiber Thermoplastics Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1747
Long Fiber Thermoplastics Market size is mainly driven by automotive sector owing to its improved mechanical properties and low density. Stringent government rules regarding low carbon di oxide emissions have increased the demand for LFT materials in building lightweight and efficient vehicles consuming low fuel. Upsurge in use of LFT materials in front & rear modules, door modules, instrument panels and bumpers will reinforce the long fiber thermoplastics market in automotive sector.
Replacing heavy metals with lightweight LFT components in various applications have boosted the industry growth. Another major application of this product is aerospace industry. As the aviation sector requires lightweight and high strength materials, LFT are highly preferred for making internal and external parts of airplane. Moreover, further R&D and product innovation using such materials will accelerate the long fiber thermoplastics market.
Some other key drivers which will augment the long fiber thermoplastics market are various end use applications in sports, electronics and construction industries. Excellent properties of LFT over SFT and reduced VOC emissions will propel the market demand. However, higher processing & manufacturing costs involved in manufacturing this product may restrain future long fiber thermoplastics market growth.
Long fiber thermoplastics is a kind of effectively mouldable thermoplastic used to make a variety of components which are primarily used in automotive industry. They have high level of durability, strength and stiffness which makes them an outstanding useful material. They are easily made by injection or compression molding and are available between 10-12mm length. LFT is used with different resins to enhance their properties, in turn improving the product performance.
Based on the fiber types, long fiber thermoplastics are available in two types including, CFRP (carbon based) and LFRT (glass based). Based on resin type the product is categorized into polybutylene terephthalate, polyamide and polypropylene. Amongst, polypropylene is expected to be the fastest growing segment owing to its rising use of these resins in electronics and automotive industries. They have superior fatigue & chemical resistance, elasticity, toughness and insulation properties. They are used with carbon and glass fibers to produce electronic components.
Long fiber thermoplastics are used in consumer & industrial goods, sports goods, electrical & electronics and automotive industries. Automobile is the fastest evolving application segment owing to its light weight properties. They are used in reducing overall weight of vehicle and improving the fuel efficiency while meeting several environmental regulations. Reduction of weight in automobiles saves energy and minimizes wear & tear of tires & brakes. Also, they have high strength and dimensional stability, providing freedom of design.
North America long fiber thermoplastics market will witness significant growth owing to increasing automotive and aerospace industries in the region. The excellent lightweight ratio to high strength properties of LFT have raised the product in manufacturing strong automobile and aircraft components. Several manufacturers are engaged in research and development operations to develop innovative products. Strict government regulations for reducing harmful greenhouse and carbon di oxide emissions will have a positive impact on industry growth.
Europe is the fastest growing region for long fiber thermoplastics market owing to strict interventions by European Union regarding reduction of carbon di oxide emissions from automobiles. Well-established automobile sector in the region has raised long fiber thermoplastics market demand in the region.
Asia-Pacific long fiber thermoplastics market will foresee moderate growth due to rise in manufacturing, automotive and construction industries. Increase in population coupled with high disposable income and improved economy have accelerated the demand for automobiles which in turn directly have a positive impact on the industry size.
Global long fiber thermoplastics market is consolidated and moderately competitive owing to the presence of various industry players at global as well as local levels. Several crucial players indulged in this industry are Daicel Polymer, Celanese, PolyOne, Techno Compound, Sumitomo Chemical Company, RTP, SABIC, Plasticomp, PPG and Solvay.
Several international and regional market players are engaged in adopting new strategies to increase their share in long fiber thermoplastics market. Some of the strategies are mergers, acquisitions, agreements, and product development. In 2016, PPG introduced new LFT product named, ‘TUFROV 4520’. It has excellent abrasion resistance and tensile strength which enables manufacturing superior quality automotive components, aerospace cargo containers, truck liners and other high structural applications.
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