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

Stratview Research has launched a research report on Thermoplastic Resin Market. The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Thermoplastic Resin Market from 2018 to 2023.

This 284 page report is segmented in five ways to provide a 360 degree holistic view. The segments are –
· by Resin Type (Polypropylene (PP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polyphenylene Sulfide (PPS), Polycarbonate (PC) and Others Resin),
· by Compound Type (Short Fiber-Reinforced Thermoplastic (SFRT), Long Fiber-Reinforced Thermoplastic (LFRT), Continuous Fiber-Reinforced Thermoplastic (CFRT), and Glass-Mat Thermoplastic (GMT)
· by End-Use Industry Type (Transportation, Consumer Goods, Electrical & Electronic and Others),
· by Composite Type (Glass Fiber-Reinforced Plastics (GFRPs), and Carbon Fiber-Reinforced Plastics (CFRPs),
· by Manufacturing Process Type(Injection Molding, Compression Molding, and Others)and
· by Region
o North America (Country Analysis: the USA, Canada, and Mexico)
o Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
o Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
o Rest of the world (Country Analysis: the Middle East, Latin America, and Others)

Stratview Research, has presented the study of Thermoplastic Resin Market in the Composites Industryover the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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.
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Thermoplastic Resin Market in the Composites Industry: Drivers
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.

Polyamide is expected to remain the most dominant resin type
The market 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.

SFRT is the most dominant compound type
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.

Transportation is projected to remain the largest market
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.

GFRP generates the highest demand for thermoplastic resins
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
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.

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 on 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.
● Research Methodology

This report studies the Thermoplastic Resin Market in the Composites Industry keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
o Extensive secondary research,
o Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
o Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
o More than 1,500 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

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