Press release
Surging Demand for Long Fiber Thermoplastics in the Automotive Industry to Fuel the Global Long Fiber Thermoplastics Market Growth
Long Fiber Thermoplastic Market
The report reveals that the global long fiber thermoplastics market is projected to exceed $4560 million by 2027, growing at a CAGR of 10.40% from 2020 to 2027.
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As per the report, the European market is anticipated to witness fastest growth during the forecast period.
Key Segment Findings of the Market:
The market is segmented based on materials, resin types, applications, end users, and region.
• Among materials segment, the glass fiber sub-segment is expected to lead the market growth during the forecast period. This is mostly because of the high resistance, strength, and durability of long glass fiber thermoplastics.
• Among applications segment, the automobiles sub-segment is expected to dominate the market growth all over the forecast period. This is mainly due to growing advancements and demand for long fiber thermoplastics in the automotive sector.
• Based on region, the European market is projected to reveal profitable growth opportunities for the market growth in the forecast period; mainly due to rising demand for composites reliant on thermoplastics.
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Market Dynamics
As per the report, the mounting demand for long fiber thermoplastics in the automotive sector for minimizing the total weight and increasing energy efficacy of a vehicle is anticipated to boost the growth of the global long fiber thermoplastics. Growing availability of substitutes for long fiber thermoplastics, such as thermosets, is expected to restrain the market growth. On the other hand, fueling demand for lighter materials in the automotive sector for attaining optimum fuel efficiency is expected to propel the growth of the industry in the coming years.
Foremost Players of the Industry
The top players of the global long fiber thermoplastics industry are Solvay, Miller Waste Mills Inc., PolyOne Co., Asahi Kasei Co., Mitsubishi Chemical Holdings Co., Daicel Co., SGL Carbon SE, Lanxess AG, Sumitomo Bakelite Company Ltd., Saudi Aramco, and others. Several innovative business strategies such as groundbreaking technological advances, R&D activities, acquisitions and mergers, etc. executed by these players are aiding them in obtaining a highest position in the global market. Furthermore, the report offers various details about the leading players such as yearly performance, financial status, and product portfolio along with Porter Five analysis and SWOT analysis.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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