Global Long Fiber Thermoplastics Industry 2024 by Worldwide Market Size, Key Vendors, Growth Rate, Drivers, Volume & Forecast Report
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The polypropylene resins have high resistance to temperature and are used with glass or carbon fibres to manufacture electronic components. They can also be used to manufacture light weight automobiles to decrease emissions.
The long fiber thermoplastics, by application, is categorised into Automotive, Electrical & Electronics, Sporting Goods, and Consumer Goods. The automotive industry is projected to spur the long fiber thermoplastics market, in terms of value and volume, due to extensive demand for lightweight materials and reduce green-house gas emissions. Additionally, growth in automotive industry is estimated to spur demand of long fiber thermoplastics in modular applications including front end modules, door modules, and underbody systems. Industrial goods being the second-largest market for LFT, are expected to experience robust growth as the performance of the industrial goods can be enhanced with the use of resins along with long fiber thermoplastics.
Long Fiber Thermoplastics (LFT) market is projected to rise at a faster rate during the forecast period (2017-2023) due to the growing demand from end use applications such as automotive, electrical and electronics industry. The long fiber thermoplastics are known for their lightweight, high-performance and environment-friendly nature. The increasing environmental concerns and increasing government regulations focusing on a superior fuel resulting in the growth of long fiber thermoplastics market during the forecast period. The global market for long fiber thermoplastics is expected to experience significant growth from the automobile industry on account of growing focus towards the manufacture of light weight automobile components in order to reduce the overall weight and gain in the fuel efficiency.
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By fiber type, the global long fiber thermoplastics market is segmented into long glass fiber thermoplastics and long carbon fiber thermoplastics. Long glass fiber thermoplastics market is forecasted to increase during the forecast period on account of the intensive demand for glass fibers in automotive, electrical and electronics industry. Long carbon fibers are used in applications including aerospace and sporting goods that require high stiffness and high performance products.
The key players in the long fiber thermoplastics market include Celanese Corporation, RTP Company, JNC Corporation, Daicel Polymer Limited, Sumitomo Chemical Company Ltd, PPG Industries, Inc., SABIC, CTC Plastics, LANXESS, Solvay.
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