Long Fiber Thermoplastics Market is projected to be worth USD 7.7 Billion by 2030, registering a CAGR of 9.9% during the forecast period (2021 - 2030) Market Research Future (MRFR) revealed several possibilities like the growing inclusion of the system in the transportation sector, impact of the electrical and electronics market, influence of the construction sector, intake in the defense and aerospace, and others as major contributing factors.
However, the COVID-19 analysis of long fiber thermoplastics reveals the possibility of sluggish growth due to the financial crunch in several countries.
Segmentation:
The global long fiber thermoplastic market has been discussed by MRFR experts in the report, on the basis of a segmentation that includes type, fiber type, and end use industry. These segments have several market information, which can be gleaned later for better insights and charts to support the strategic moves to ensure a better outcome for the market.
By type, the market for the long fiber thermoplastics can be segmented on the basis of polyamide, polypropylene, and polybutylene terephthalate. These segments have multiple applications across industries, which can impact the market outcome.
By fiber type, the study on the long fiber thermoplastics market can be segmented into glass fiber and carbon fiber.
By end-use industry, the discussion on the long fiber thermoplastic market has been segmented into transportation, aerospace, defense, textiles, personal care, electrical electronics, and others. The influx of investment is getting disturbed by the COVID-19 due to which several sectors have witnessed a drop in their demand for long fiber thermoplastics. But this is temporary.
By region, the market is segmented into Asia Pacific, the Middle East, Europe, Latin America, North America and Africa.
Detailed Regional Analysis
The region-wise of the Market covers regions such as Europe, Asia Pacific, Latin America, North America, and the Middle East & Africa. The North American region is expected to develop with the maximum CAGR during the forecast period because of the increasing transportation industry and mounting investment in defense sector. The demand for long fiber thermoplastic is anticipated to increase in the Europe nations such as Italy, Germany, and U.K due to elevated vehicular production rate by the automotive industry. In addition, the recent discovery of shale gas in the North American region is forecasted to seal the demand gap for LFT’s raw materials.
Key Players
- Solvay SA
- Celanese Corporation
- PolyOne Corporation
- SABIC
- PlastiComp Inc.
- BASF SE
- Laxness AG
- Quadrant AG
- RTP Company Inc.
- PPG Industries Inc.
Get Full Information About Long Fiber Thermoplastics Market: https://www.marketresearchfuture.com/reports/long-fiber-thermoplastics-market-4889
Industry News:
In May 2020, Toray Industries announced that they have come up with a high tensile modulus carbon fiber and complimentary thermoplastic pellets ideal for injection molding employing of the said fiber. The pellets will help in the efficient production of complex and rigid parts. These parts are lightweight and reduce environmental impact. According to Toray, this can make the component cost affordable and increase its intake in several end user industries.
The COVID-19 analysis of the long fiber thermoplastic market reveals the possibility of a slump in the market due to the crunch in financial backing for several sectors. The lack of spending electrical electronics, textile, and personal care due to the halt in manufacturing are expected to adversely impact the market progress. The transportation sector is also facing some changes due to the lockdowns and crisis in the automobile sector.