Thermoplastic Resins Industry is Expected to Reach $ 15.5 Billion by 2031 - BASF SE, Arkema SA, DSM, Hexcel Corporation

Global Thermoplastic Resins Market reached US$ 10.5 billion in 2023 and is expected to reach US$ 15.5 billion by 2031, growing with a CAGR of 5.0% during the forecast period 2024-2031.

The rising demand for lightweight, renewable resources is driving the growth of thermoplastic resins, especially in the automotive industry, which seeks to develop low CO2 emission vehicles. Germany, a leading automotive producer, saw a 67% increase in vehicle production in March 2023, further boosting thermoplastic resin demand. North America is projected to hold over 20% of the global thermoplastic resins market in 2023, driven by high R&D in sustainable materials and increased demand in transportation, aerospace, wind energy, and construction sectors.

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Market Trends:

Ongoing research and development are driving the creation of innovative thermoplastic resins with enhanced strength, heat resistance, and environmental performance. Advances in manufacturing methods like 3D printing and injection molding are expanding their applications, making them more versatile and cost-effective. For instance, in 2021, Solvay and Leonardo partnered to develop thermoplastics for aerospace. With rapid growth in the construction industry, thermoplastic resins are increasingly used in residential buildings, infrastructure, and water utilities due to their superior qualities.

Segment Covered in the Thermoplastic Resins Market:
By Resin: Polypropylene, Polyamide, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, Other
By Fiber: Glass, Carbon, Others
By Product: Short Fiber-Reinforced Thermoplastic, Long Fiber-Reinforced Thermoplastic, Continuous Fiber-Reinforced Thermoplastic, Glass-Mat Thermoplastic
By End-User: Aerospace and Defense, Electrical and Electronics, Automotive, Construction, Others

Regional Analysis:
The global thermoplastic resins market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

The global thermoplastic resins market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The thermoplastic resins market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Major Key Players
• BASF SE
• Arkema SA
• DSM
• Hexcel Corporation
• LANXESS
• SABIC
• Solvay SA
• SGL Carbon
• LyondellBasell Industries Holdings BV
• The Lubrizol Corporation

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