Research Dive has added a new report to its offering titled, “Global Long Fiber Thermoplastics Market, by Materials (Glass and Carbon), Resin Types (Polypropylene, Polyamide, Thermoplastic Polyurethane, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, and PEEK), Applications (Automobile, Aerospace, Electronics Appliances, Sports Leisure, and others), End-Users (Automotive, Electrical & Electronics, Constructions, Furniture, and others), Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027”.
The report reveals that the global long fiber thermoplastics market is projected to exceed $4560 million by 2027, growing at a CAGR of 10.40% from 2020 to 2027.
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As per the report, the European market is anticipated to witness fastest growth during the forecast period.
Key Segment Findings of the Market:
The market is segmented based on materials, resin types, applications, end users, and region.
- Among materials segment, the glass fiber sub-segment is expected to lead the market growth during the forecast period. This is mostly because of the high resistance, strength, and durability of long glass fiber thermoplastics.
- Among applications segment, the automobiles sub-segment is expected to dominate the market growth all over the forecast period. This is mainly due to growing advancements and demand for long fiber thermoplastics in the automotive sector.
- Based on region, the European market is projected to reveal profitable growth opportunities for the market growth in the forecast period; mainly due to rising demand for composites reliant on thermoplastics.
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As per the report, the mounting demand for long fiber thermoplastics in the automotive sector for minimizing the total weight and increasing energy efficacy of a vehicle is anticipated to boost the growth of the global long fiber thermoplastics. Growing availability of substitutes for long fiber thermoplastics, such as thermosets, is expected to restrain the market growth. On the other hand, fueling demand for lighter materials in the automotive sector for attaining optimum fuel efficiency is expected to propel the growth of the industry in the coming years.
Foremost Players of the Industry
The top players of the global long fiber thermoplastics industry are Solvay, Miller Waste Mills Inc., PolyOne Co., Asahi Kasei Co., Mitsubishi Chemical Holdings Co., Daicel Co., SGL Carbon SE, Lanxess AG, Sumitomo Bakelite Company Ltd., Saudi Aramco, and others. Several innovative business strategies such as groundbreaking technological advances, R&D activities, acquisitions and mergers, etc. executed by these players are aiding them in obtaining a highest position in the global market. Furthermore, the report offers various details about the leading players such as yearly performance, financial status, and product portfolio along with Porter Five analysis and SWOT analysis.
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