Thermoplastic Resins Market Demand Trends Size Analysis 2022-2029

The Thermoplastic Resins Market is expected to grow at a CAGR of 4.4% during the forecast period 2022-2029. North America region has the highest market share in the Thermoplastic Resins Market, and it is further continuing its dominance during the forecast period.

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Our research report gives wide perceptions of the latest trends and development prospects of the market analysis, detailed segmentation analysis, volume, size, share, growth drives, and opportunities in the market. In-depth regional and country-level illustration of the competitive landscape depends on several phases and status of clinical trials over the prominent economies of the globe, and also report contains a number of major companies profiled in the relevant market.

Market Drivers:

The primary driver of the industry is the growing application of lightweight and naturally sustainable materials in the end-user sector. In addition, the growing use of thermoplastic in the automotive industry, rising consumer demand for automobiles, rising demand for recyclable and quick-curing materials, and increasing use of composite materials to replace metals are all important factors that are contributing to the expansion of the market for thermoplastic resin.

The overall expansion of the thermoplastic resins industry over the next few years would be driven by the introduction of ultra-high molecular weight thermoplastic resins. Opportunities exist in a variety of automotive industry applications, including powertrain systems, electrical and electronics, chassis systems, interior, exterior, and under body systems. The thermoplastic resin market looks promising. The automotive industry's particular requirements for lightweight and long-lasting materials will drive future demand for thermoplastic resins. The commoditization of products, price fluctuations for crude oil and naphtha, and regulations aimed at lowering CO2 emissions are all expected to present particular obstacles for the sector.

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Market Segmentation:

By Resin Type:
• Polypropylene
• Polyamide
• Polybutylene Terephthalate
• Polyphenylene Sulfide
• Polycarbonate
• Other Resins

By Compound Type:
• Short Fiber-Reinforced Thermoplastic
• Long Fiber-Reinforced Thermoplastic
• Continuous Fiber-Reinforced Thermoplastic
• Glass-Mat Thermoplastic

By End-use Industry:
• Transportation
• Consumer Goods
• Electrical & Electronic
• Others

By Composite Type:
• Glass Fiber-Reinforced Plastics
• Carbon Fiber-Reinforced Plastics

Geographical Classification:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Major Companies Listed:

BASF SE, Chevron Phillips, Lubrizol, E. I. du Pont de Nemours and Company, EMS-GRIVORY, ENI, Exxon Mobil, INEOS, Koninklijke DSM N.V., Lanxess Aktiengesellschaft, LG Chem, LyondellBasell Industries N.V., SABIC, and Solvay S.A. are the principal suppliers of thermoplastic resins in the composites industry.

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This release was published on openPR.