Press release
Thermoplastic Composites Market Sales Revenue to Touch $22.8 billion by 2027 | Major Companies, Strategies and New Trends
Surge in demand from the transportation industry and emerging end-use applications of fiber composites drive the growth of the global thermoplastic composites market. However, high cost of raw materials restrains the market growth. On the other hand, expansion of the market for electric vehicles presents new opportunities in the coming years.
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Thermoplastic composites are the alchemy of modern materials science, merging the best of both worlds: the versatility of thermoplastics and the strength of composite materials. What makes them truly remarkable is their ability to be molded and reshaped when heated, making them akin to sculptor's clay for engineers and designers. This unique characteristic empowers manufacturers to craft complex, lightweight structures with precision, reducing waste and production costs. From automotive components that make electric vehicles more efficient to aircraft parts that enhance fuel economy, thermoplastic composites are at the forefront of innovation, driving progress in industries where durability, weight reduction, and sustainability are paramount.
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The global thermoplastic composites market is experiencing a period of remarkable growth, driven by technological innovations and a growing focus on sustainability in the manufacturing industry. Thermoplastic composites, known for their lightweight, durable, and recyclable properties, have gained substantial traction across various end-use sectors, including automotive, aerospace, construction, and consumer goods.
Thermoplastic composites are composite materials that combine thermoplastic polymers with reinforcing fibers such as carbon, glass, or aramid. These materials offer several advantages over traditional thermoset composites and metals, making them a preferred choice for manufacturers seeking high-performance, cost-effective solutions.
Key Benefits for Stakeholders:
► Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
► It outlines the current thermoplastic composites market trends and future estimations from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
► The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
► The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the study.
► The profiles of key players and their key strategic developments are enlisted in the report.
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Key Market Trends:
► Aerospace Industry Takes Flight: The aerospace sector is witnessing a significant surge in the adoption of thermoplastic composites due to their exceptional strength-to-weight ratio and resistance to extreme temperatures. This shift is driven by the need for lightweight materials to reduce fuel consumption and emissions, making thermoplastic composites a vital component in the next generation of aircraft.
► Automotive Evolution: In the automotive industry, thermoplastic composites are making inroads to address the pressing demand for fuel-efficient, electric vehicles. These composites offer weight reduction without compromising safety, and their moldability allows for complex part designs. As automakers strive to meet stringent environmental regulations, thermoplastic composites are becoming integral to their strategies.
Key Market Players:
► BASF SE
► Celanese Corporation
► DSM
► DuPont
► Hanwha
► laxness
► Mitsubishi Chemical Advanced Materials
► PPG Industries
► SABIC
► Solvay S.A.
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Frequently Asked Questions:
Q1. What is the total market size of the global thermoplastic composites Market?
Answer: The global thermoplastic composites market was valued at $ 15.2 Billion in 2019
Q2. Who are the top players in thermoplastic composites market?
Answer: BASF SE, laxness, Mitsubishi Chemical Advanced Materials, PPG Industries, SABIC, and Solvay S.A. are the top players in thermoplastic composites market.
Q3. What are the major areas of development for thermoplastic composites market?
Answer: Oil & gas, construction and aerospace & defense are the major areas of development for thermoplastic composites market
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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