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Global Thermoplastics Market 2020 Trends, Research Report, Growth, Opportunities, Forecast to 2026

04-01-2021 10:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

The global thermoplastics market is anticipated to grow at a CAGR of nearly 7.0% during the forecast period (2021-2027). Rising applications of thermoplastics in the transportation industry is one of the major factors accelerating the demand for thermoplastics. Plastic materials are utilized for a comprehensive range of transportation applications such as light diffusers, glazing, interior wall panels, headliners, and partitions. Thermoplastics provide several benefits over fiberglass, metals, and wood including superior durability, aesthetics, and sound insulating properties. These are also very lightweight, which contributes to increased fuel efficiency. Thermoplastic supports in the manufacturing of various components of automotive, coaches in rails and heavy vehicles. The strength-to-weight ratio of thermoplastics is higher when observed with steel and aluminium.

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In the transportation industry, the automotive industry requires to follow strict rules and regulations related to fuel efficiency along with the reduction in weight of vehicles. Thermoplastics are designed to meet such requirements as these materials are considered weightless which aid in reducing the weight of the car that results in better fuel efficiency. Thermoplastic materials are utilised in rails for the development of interior and exterior applications to decrease the weight of rail carriers. Composites materials are utilised more in high-performance vehicle components along with materials in racing that includes roof components, components related to appearance and roof, front end and door modules. Apart from these, the rising shift towards electric vehicles (EVs) is expected to offer an opportunity for the adoption of thermoplastics to increase the lightweight property of the vehicle.

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Global Thermoplastics Market-Segmentation

By Product

Polyethylene
Polypropylene
Polystyrene
Polycarbonate
Polyethylene Terephthalate
Others

By Application

Packaging
Building and Construction
Consumer Goods
Electronics
Automobiles
Others

Global Thermoplastics Market-Segment by Region

North America

US
Canada

Europe

Germany
UK
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

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Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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