Long Fiber Thermoplastics Market overview survey 2018:Daicel Polymer, Celanese, PolyOne, Techno Compound, Sumitomo Chemical Company, RTP, SABIC, Plasticomp, PPG and Solvay.
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.
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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.
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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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