According to a new research report by Global Market Insights Inc., the Long Fiber Thermoplastics Market size is set to surpass USD 3 billion by 2025 due to its usage in electrical and electronic industry in formulation of electric appliances. It is widely utilized in formulation of microwave ovens, geysers, hairdryers, air conditioners and fans.
Growing consumer preferences towards featherweight products may significantly surge the long fiber thermoplastics market as it boasts high strength to weight ratio. Properties including, recyclability and bio-degradability makes it appropriate for usage in automotive, aerospace, sports and furniture applications.
Pre-fabricated movable properties are rising with expanding urbanization accomplishments which has increased demand for lightweight furniture’s. Long fiber thermoplastics market demand may witness growth due to its extensive usage in furniture industry as it boasts UV and chemical resistance which safeguards furniture material from harsh conditions. LFT upholds good mechanical stability affirms its viability in this industry.
Sluggish living standards has increased obesity disorders has shifted consumer towards sports activities like cycling which in turn may increase long fiber thermoplastics market demand. LFT has application in manufacturing bicycles as it indorses frothy properties which ensures better-quality of handling and rideability of bicycles which may amplify market growth.
LFT manufactured using polyurethane for manufacturing of cars, trucks and tractors. These thermoplastics boasts lightweight, impact & scratch resistive nature ensures reduction of kerb weight & long-lasting durability of automobiles. These factors will increase fuel efficiency of vehicles and will offer better stability and handling on roads which may stimulate long fiber thermoplastics market demand.
These products are intermingled with polycarbonate for utilization in construction market as it sustains excellent UV filtration, impact, glare and scratch resistant finishing which ensures low maintenance of buildings & houses and protect them from harsh environmental conditions which may boost market size.
Browse key industry insights spread across 450 pages with 506 market data tables & 22 figures & charts from the report, “Long Fiber Thermoplastics Market By Material (Glass, Carbon),By Resin (Polypropylene, Polyamide, Thermoplastic Polyurethane, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, PEEK, Others), 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, Other), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Upsurge in consumption of substitutes like polyvinyl chloride and thermosets in automotive, construction and aviation industry due to its wider availability and lesser outlays might hamper growth of long fiber thermoplastics market demand.
China long fiber thermoplastics industry size may witness significant gains up to 10.5% in the forecast timeline. The product being thermal and chemical resistant in nature is used for construction of waste treatment plants. Sanitization initiative taken by Chinese government may lead to growth of LFT market.
Furniture applications is anticipated to exceed USD 70 million by 2025. These thermoplastics are biodegradable in nature which ensures ecofriendly characteristics and are appropriate to use in furniture industry for assembly of beach chairs, movable ladders and tables which may expand the long fiber thermoplastics market growth.
Sports & leisure application is estimated to exceed 30 kilo tons in the estimated timeline. Increasing long fiber thermoplastics demand because of its applications in creation of sports components including bicycles, manual scooters, snowboard and surfing boards as it upholds featherlight and sturdy properties which will nurture LFT demand.
Global long fiber thermoplastics industry is slightly fragmented with key industry players includes Celanese Corporation, Asahi Kasei, SABIC, Solvay group, Plasticomp, RTP Company and Quadrant Group. Manufacturing companies are contributing more funds towards research & development activities to develop innovative products from long fiber thermoplastics.