Press release
Thermoplastic Composites Market Trends 2023, Industry Growth Overview, Forecast Report By 2028
Thermoplastic Composites Market
Thermoplastic Composites Uses:
A thermoplastic composite is a combination of a thermoplastic polymer matrix and reinforcing fibers that forms a uniquely robust yet flexible material widely utilized across a plethora of industries. Defined by their dynamic characteristics, thermoplastic composites stand out due to their ability to be reheated, reshaped, and cooled multiple times without significant degradation of their inherent properties. The thermoplastic matrix binds the reinforcing fibers, which can be made from materials such as glass, carbon, or aramid, providing enhanced mechanical properties such as high strength, light weight, and superior resistance to impact and corrosion.
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Competitive Landscape with Key Players:
• Arkema
• Avient Corporation
• BASF SE
• Celanese Corporation
• DuPont de Nemours Inc
• Hexcel Corporation,
• Koninklijke DSM N.V
• Lanxess AG
• Mitsubishi Chemical Advanced Materials (Mitsubishi Chemical Holdings Corporation)
• PPG Industries Inc.,
• SABIC (Saudi Arabian Oil Co.)
• Solvay
Thermoplastic Composites Market Trends:
The global market is primarily driven by the rising demand for lightweight, durable materials in numerous industries including automotive, aerospace, and construction. This can be attributed to the drive to improve fuel efficiency, reduce CO2 emissions, and meet stringent environmental regulations. Moreover, the advent of advanced manufacturing techniques, such as automated fiber placement and injection molding has facilitated the mass production of thermoplastic composites, thereby fueling the market. Additionally, the growing interest in sustainability and circular economy is bolstering the market appeal of thermoplastic composites due to their inherent recyclability. Furthermore, continual advancements in material science are leading to the development of bio-based thermoplastic composites, which in turn is creating lucrative opportunities in the market.
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Key Market Segmentation:
Breakup by Fiber Type:
• Glass Fiber
• Carbon Fiber
• Others
Breakup by Product:
• Glass Mat Thermoplastics (GMT)
• Advanced Thermoplastic Composites (ATC)
Breakup by Resin Type:
• Polypropylene (PP)
• Polyamide (PA)
• Others
Breakup by End User Industry:
• Automotive
• Aerospace and Defense
• Oil and Gas
• Construction
• Medical
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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