Thermoplastic Resin Market in the Composites Industry to reach US$ 14,372 million during the coming years (2018-2023)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Thermoplastic Resin Market in the Composites Industry, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Thermoplastic Resin Market in the Composites Industry.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

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 strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Resin Type : Polypropylene, Polyamide and Others
• by Compound Type : Short Fiber-Reinforced Thermoplastic and Others
• by End-Use Industry Type : Transportation, Consumer Goods and Others
• by Composite Type : Glass Fiber-Reinforced Plastics and Others
• by Manufacturing Process Type : Injection Molding, Compression Molding and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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Market Segments
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.
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.
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.
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.
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.

Players
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.

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This release was published on openPR.