Global Thermoplastic Resin Market to Reach US$ 14,372 million in 2023

Global Thermoplastic Resin Market in the Composites Industry by Resin Type (PP, PA, PBT, PPS, PC, and Others), by Compound Type (SFRT, LFRT, GMT, and CFRT), by End-Use Industry Type (Transportation, Consumer Goods, Electrical & Electronic, and Others), by Manufacturing Process Type (Injection Molding, Compression Molding, and Others), by Composite Type (GFRP and CFRP), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023
This report, from Stratview Research, studies the thermoplastic resin market in the composites industry over the trend period 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.
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The Global Thermoplastic Resin Market in the Composites Industry: Highlights
The global thermoplastic resin market in the composites industry is projected to reach US$ 14,372 million in 2023 and offers favorable growth opportunities in the entire ecosystem of the market. Increasing automobile production, development of new composite applications using thermoplastic composites, rising demand for sustainable (recycling) and fast-curing materials, increasing demand for lightweight components to address stringent regulations such as CAFÉ Standards, and increasing penetration of composite materials by replacing metals are the key factors that are bolstering the demand for thermoplastic resins in the composites industry.

The global thermoplastic resin market in the composites industry is segmented based on the resin type as Polypropylene, Polyamide, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, and Other Resins. Polyamide is expected to remain the most dominant resin type in the global thermoplastic resin market in the composites industry during the forecast period of 2018 to 2023. This resin is most widely used in short fiber-reinforced thermoplastic (SFRT) applications. Polyphenylene sulfide is likely to witness the highest growth over the next five years, driven by an increasing usage of thermoplastic composites in the aerospace & defense and automotive industries.

Based on the compound type, SFRT generates the highest demand for thermoplastic resins and is forecasted to remain the largest compound type during the forecast period. SFRT is the most dominant compound type in all the major end-use industries including transportation, consumer goods, and electrical & electronics. CFRT and LFRT are relatively small segment but are gaining market tractions by registering an increased acceptance in the automotive and aerospace & defense industries.
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Based on the end-use industry type, transportation is projected to remain the largest market for thermoplastic resins in the composites industry during the forecast period. This segment is the second largest composites market (thermoset + thermoplastic) after building & construction. The segment is also likely to witness the highest growth over the next five years, driven by stringent government regulations, such as CAFÉ Standards and EU’s directive on carbon emission reductions. All the major automakers are forming strategic alliances with the composite material suppliers to develop advanced thermoplastic composites that can fabricate parts in less than five minutes and offer significant weight savings. They are increasingly incorporating advanced materials including composites in the structural and semi-structural applications of their vehicles by replacing traditional metals, such as steel.

Based on the composite type, glass fiber-reinforced plastic (GFRP) generates the highest demand for thermoplastic resins and is expected to remain the largest composite type during the forecast period. GFRP dominates in all the major end-use industries, such as transportation, electrical & electronics, and consumer goods. Carbon fiber-reinforced plastic (CFRP) is likely to witness the highest growth during the same period, propelled by its excellent properties at a relatively lower weight.

Asia-Pacific is expected to remain the largest and the fastest-growing thermoplastic resin market in the composites industry during the forecast period. High production of automobiles, continuous shift of electronic industry from the developed economies to the developing Asian economies, and increasing penetration of composites are major growth drivers of the thermoplastic resin market in the Asia-Pacific’s composites industry.

BASF SE, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Solvay S.A., Lanxess, LyondellBasell Industries N.V., and SABIC are the key suppliers of thermoplastic resins to the composites industry. Most of the players are forward integrated and supply reinforced compounds. New product development, wide geographical reach, and vast product portfolio are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market Trend and Forecast Analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, Product portfolio, Product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors
The thermoplastic resin market in the composites industry is segmented into the following categories.

Global Thermoplastic Resin Market in the Composites Industry by Resin Type:
• Polypropylene (PP) (Regional Analysis: NA, Europe, APAC, and RoW)
• Polyamide (PA) (Regional Analysis: NA, Europe, APAC, and RoW)
• Polybutylene Terephthalate (PBT) (Regional Analysis: NA, Europe, APAC, and RoW)
• Polyphenylene Sulfide (PPS) (Regional Analysis: NA, Europe, APAC, and RoW)
• Polycarbonate (PC) (Regional Analysis: NA, Europe, APAC, and RoW)
• Other Resins (Regional Analysis: NA, Europe, APAC, and RoW)
Global Thermoplastic Resin Market in the Composites Industry by Compound Type:
• Short Fiber-Reinforced Thermoplastic (SFRT) (Regional Analysis: NA, Europe, APAC, and RoW)
• Long Fiber-Reinforced Thermoplastic (LFRT) (Regional Analysis: NA, Europe, APAC, and RoW)
• Continuous Fiber-Reinforced Thermoplastic (CFRT) (Regional Analysis: NA, Europe, APAC, and RoW)
• Glass-Mat Thermoplastic (GMT) (Regional Analysis: NA, Europe, APAC, and RoW)
Global Thermoplastic Resin Market in the Composites Industry by End-Use Industry Type:

• Transportation (Regional Analysis: NA, Europe, APAC, and RoW)
• Consumer Goods (Regional Analysis: NA, Europe, APAC, and RoW)
• Electrical & Electronic (Regional Analysis: NA, Europe, APAC, and RoW)
• Others (Regional Analysis: NA, Europe, APAC, and RoW)
Global Thermoplastic Resin Market in the Composites Industry by Composite Type:
• Glass Fiber-Reinforced Plastics (GFRPs) (Regional Analysis: NA, Europe, APAC, and RoW)
• Carbon Fiber-Reinforced Plastics (CFRPs) (Regional Analysis: NA, Europe, APAC, and RoW)
Global Thermoplastic Resin Market in the Composites Industry by Manufacturing Process Type:
• Injection Molding (Regional Analysis: NA, Europe, APAC, and RoW)
• Compression Molding (Regional Analysis: NA, Europe, APAC, and RoW)
• Others (Regional Analysis: NA, Europe, APAC, and RoW)
Global Thermoplastic Resin Market in the Composites Industry by Region:
• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the world (Country Analysis: the Middle East, Latin America, and Others)

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Category: Advanced Material
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Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life

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