What’s driving the Long Fiber Thermoplastics Market Trends? SABIC, RTP Company, Solvay group, Asahi Kasei, Celanese Corporation, Plasticomp and Quadrant Group
Global LFT industry size from furniture applications is anticipated to exceed USD 70 million by 2025. These thermoplastics are biodegradable in nature which ensures ecofriendly characteristics and are appropriate to use in furniture industry for assembly of beach chairs, movable ladders and tables which may expand product growth.
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Long Fiber Thermoplastics Market size is set to surpass USD 3 billion by 2025; according to a new research report by Global Market Insights, Inc. Growing consumer preferences towards featherweight products may significantly surge long fiber thermoplastics (LFT) market size as it boasts high strength to weight ratio. Properties including, recyclability and bio-degradability makes it appropriate for usage in automotive, aerospace, sports and furniture applications thereby driving product demand.
Pre-fabricated movable properties are rising with expanding urbanization accomplishments which has increased demand for lightweight furniture’s. Long fiber thermoplastics market demand may witness growth due to its extensive usage in furniture industry as it boasts UV and chemical resistance which safeguards furniture material from harsh conditions. LFT upholds good mechanical stability affirms its viability in this industry.
Sluggish living standards has increased obesity disorders has shifted consumer towards sports activities like cycling which in turn may increase long fiber thermoplastics market demand. LFT has application in manufacturing bicycles as it indorses frothy properties which ensures better-quality of handling and rideability of bicycles which may amplify market growth.
- Long fiber thermoplastics Market, By Material
• Glass Fiber
• Carbon Fiber
- Long fiber thermoplastics Market, By Resin
• Thermoplastic polyurethane
• Polybutylene terephthalate
• Polyphenylene sulfide
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LFT manufactured using polyurethane for manufacturing of cars, trucks and tractors. These thermoplastics boasts lightweight, impact & scratch resistive nature ensures reduction of kerb weight & long-lasting durability of automobiles. These factors will increase fuel efficiency of vehicles and will offer better stability and handling on roads which may stimulate long fiber thermoplastics market demand.
These products are intermingled with polycarbonate for utilization in construction market as it sustains excellent UV filtration, impact, glare and scratch resistant finishing which ensures low maintenance of buildings & houses and protect them from harsh environmental conditions which may boost market size.
Upsurge in consumption of substitutes like polyvinyl chloride and thermosets in automotive, construction and aviation industry due to its wider availability and lesser outlays might hamper growth of long fiber thermoplastics market demand.
China long fiber thermoplastics industry size may witness significant gains up to 10.5% in the forecast timeline. The product being thermal and chemical resistant in nature is used for construction of waste treatment plants. Sanitization initiative taken by Chinese government may lead to growth of LFT market.
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Long fiber thermoplastics market demand may witness an upwards trend due to its usage in electrical and electronic industry in formulation of electric appliances. It is widely utilized in formulation of microwave ovens, geysers, hairdryers, air conditioners and fans which may amplify product demand.
Global long fiber thermoplastics market share is slightly fragmented with key industry players includes Celanese Corporation, Asahi Kasei, SABIC, Solvay group, Plasticomp, RTP Company and Quadrant Group. Manufacturing companies are contributing more funds towards research & development activities to develop innovative products from long fiber thermoplastics.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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