Press release
Thermoplastic Composite Global Market Worth $24.29 Billion at a CAGR of 6.0% By 2027 | Key Players: BASF SE, Celanese Corporation, SABIC, Solvay, Lanxess AG
Thermoplastic Composite Market
The Business Research Company's Thermoplastic Composite Global Market Report 2023 identifies the growth in demand for electric vehicles is expected to boost the demand for thermoplastic composites during the forecast period. The demand for electric vehicles is expected to increase in the next few years as they are environment-friendly and contribute towards fewer carbon emissions in the transportation industry.
The global thermoplastic composite market size grew from $18.01 billion in 2022 to $19.22 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the thermoplastic composite market is expected to grow to $24.29 billion in 2027 at a CAGR of 6.0%.
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Major players in the thermoplastic composite market are BASF SE, Celanese Corporation, SABIC, Solvay, Lanxess AG, Mitsubishi Chemical Advanced Materials, Koninklijke DSM N.V., Toray Industries, Inc., SGL Carbon, AVANCO GmbH, Teijin Limited, PPG Industries, Inc., Covestro AG, The Ensinger Group, and Avient Corporation.
The development of low-cost production technology is the new trend in the thermoplastic composites market. The companies operating in thermoplastic composites are increasingly investing in R&D for the development of new products with advanced technologies to meet the technical demands of specific end customers across the globe.
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The Thermoplastic Composite market is segmented -
1) By Product Type: Short Fiber Thermoplastics, Glass Mat Thermoplastics, Long Fiber Thermoplastics, Continuous Fiber Thermoplastics
2) By Fiber Type: Glass Fiber, Carbon Fiber, Other Fiber Types
3) By Resin Type: Polypropylene (PP), Polyamide (PA), Other Resin Types
4) By End-Use Industry: Transportation, Consumer goods & electronics, Wind Energy, Sports & Leisure, Construction, Aersopace & Defense, Other End Users
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Thermoplastic Composite market.
The Business Research Company's "Global Thermoplastic Composite Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Thermoplastic Composite Market Include:
1. Executive Summary
2. Thermoplastic Composite Market Characteristics
3. Thermoplastic Composite Market Trends And Strategies
4. Thermoplastic Composite Market - Macro Economic Scenario
5. Thermoplastic Composite Market Size And Growth
……
27. Thermoplastic Composite Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Thermoplastic Composite Market
29. Thermoplastic Composite Market Future Outlook and Potential Analysis
30. Appendix
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