Press release
Thermoplastic Composite Market 2024 - By Share, Size, Growth Analysis And Forecast To 2033
Thermoplastic Composite Market
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=5967&type=smp
According to The Business Research Company's, The thermoplastic composite market size has grown strongly in recent years. It will grow from $19.33 billion in 2023 to $20.7 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to weight reduction in automotive, aerospace industry growth, sustainability and recycling, cost-effective manufacturing, design flexibility, .
The thermoplastic composite market size is expected to see strong growth in the next few years. It will grow to $27.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to renewable energy infrastructure, smart manufacturing technologies, e-mobility expansion, urbanization and infrastructure development, aerospace innovations.. Major trends in the forecast period include increased adoption in automotive, hybrid composite structures, 3d printing with thermoplastic composites, advanced manufacturing processes like automated fiber placement (afp), customized material formulations.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/thermoplastic-composite-global-market-report
Market Drivers and Trends:
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. Thermoplastic composites provide excellent strength and play a significant role in the reduction of the overall weight of vehicles, which makes them useful in the production of vehicle components. According to the article published by RBSA Advisors in December 2021, the Indian electric vehicle market is estimated to grow at a CAGR of 90% this decade, touching $150 billion by 2030. Moreover, according to the China Association of Automobile Manufacturers (CAAM), new energy vehicle (NEV) sales in China are likely to rise to 3 million in 2021 from 1.4 million in 2020. Hence, the growing market for electric vehicles will accelerate the production of electric vehicle components and contribute to growth in demand for thermoplastic components during the forecast period.
The development of low-cost production technology is a new trend in the thermoplastic composites market. The companies operating in thermoplastic composites are increasingly investing in research and development for the development of new products with advanced technologies to meet the technical demands of specific end customers across the globe. For instance, in January 2023, Sumika Polymer Compounds, a UK-based manufacturer of thermoplastics, partnered with Hexagon's Manufacturing Intelligence division, a Sweden-based provider of digital reality solutions, combining sensor, software, and autonomous technologies to digitize the performance of new sustainable automotive-grade polypropylene (PP) compounds, enabling engineers to design components that are more recyclable and offer a lower carbon footprint for future vehicles.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
BASF SE, AVANCO GmbH, Avient Corporation, Celanese Corporation, Covestro AG, Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Corporation, PPG Industries Inc., Saudi Basic Industries Corporation, SGL Carbon SE, Solvay SA, Teijin Limited, The Ensinger Group, Toray Industries Inc., 3B-The Fibreglass Company, Adherent Technologies Inc., Airborne International BV, Arkema SA, Composites One, Dieffenbacher Group, Fiberforge Corp., Hexcel Corporation, Owens Corning, PlastiComp Inc., PolyOne Corporation, RTP Company, Sintex-Wausaukee Composites Inc., Techmer PM LLC, Tri-Mack Plastics Manufacturing Corporation, Victrex PLC, Web Industries Inc.
Thermoplastic Composite Market 2024 Key Insights:
• The thermoplastic composite market size is expected to see strong growth in the next few years. It will grow to $27.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Rising Electric Vehicle Demand Drives Surge In Thermoplastic Composites Market
• Low-Cost Production Technology Pioneered In Thermoplastic Composites Market Through Collaborative
• Asia-Pacific was the largest region in the thermoplastic composite market in 2023, and it is expected to be the fastest-growing region in the forecast period
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=5967&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Thermoplastic Composite Market 2024 - By Share, Size, Growth Analysis And Forecast To 2033 here
News-ID: 3737055 • Views: …
More Releases from The Business research company
Global Fighter Aircrafts Market Projected to Surpass $137.75 Billion by 2029 wit …
What Are the Market Size and Growth Forecast for the Fighter Aircrafts Market?
The value of the fighter aircraft market has significantly increased in the past few years. The market, which will rise from $97.52 billion in 2024, is forecasted to reach $105.71 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The factors contributing to growth in the historical timeframe include national defense efforts, escalating geopolitical conflicts,…
Shaping the Facial Tissues Market in 2025: Kruger Products Introduces Eco-Friend …
How Big Is the Facial Tissues Market Expected to Be, and What Will Its Growth Rate Be?
The market size of facial tissues has seen robust growth over the past few years. The market is projected to expand from a worth of $10.79 billion in 2024 to $11.56 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. This significant surge in the historical timeframe can be traced back…
Key Influencer in the Engine, Turbine, And Power Transmission Equipment Market 2 …
What Is the Forecasted Market Size and Growth Rate for the Engine, Turbine, And Power Transmission Equipment Market?
Over recent years, the market size for engine, turbine, and power transmission equipment has seen robust growth. It is projected to expand from $582.66 billion in 2024 to $632.99 billion in 2025, with a compound annual growth rate (CAGR) of 8.6%. Factors that have contributed to the growth during the historic period include…
In-Depth Analysis of the Electric Power Generation, Transmission, And Distributi …
What Are the Projected Growth and Market Size Trends for the Electric Power Generation, Transmission, And Distribution Market?
The size of the electric power generation, transmission, and distribution market has experienced a robust growth in the past few years. The market, which is expected to climb from $5167.14 billion in 2024 to $5501.22 billion in 2025, anticipates a compound annual growth rate (CAGR) of 6.5%. Factors contributing to the growth during…
More Releases for Composite
Assured Composite® Presents the Best of Composite Decking
Assured Composite® ensures customer happiness by providing high-quality wood plastic composite decking, to consumers across the United Kingdom and beyond.
Leicestershire, England - UK | January 25, 2022 -- Customer satisfaction is ensured by Assured Composite®, which provides high-quality wood plastic composite decking, to customers in the United Kingdom and beyond. Because of their forward-thinking staff's attention to efficiency, quality, and customer service, customers can anticipate a hassle-free end-to-end solution at…
Global Wind Turbine Composite Materials Market, Global Wind Turbine Composite Ma …
The wind turbine composite material forms an important component of wind turbine for the production of turbine rotor blade. This composite material is made up of matrix & fiber to provide physical strength and distributes loads in composite. The matrix material acts as a binder and maintains spacing of the fiber material, therefore protecting the fiber from environmental & abrasion damage. The composite material manufactured from the fortification of matrix…
Composite Kitchen Sinks Market
Dulcimer Instruction Market
The Global Dulcimer Instruction Market 2019 Research Report incorporates a total and careful investigation of Dulcimer Instruction industry covering diverse perspectives like market volume, piece of the overall industry, advertise techniques, Dulcimer Instruction development patterns, assortment of uses, use volume, request and supply examination, creation limit and Dulcimer Instruction industry cost structures amid Forecast period from 2019 to 2025.
The report titled Global Dulcimer Instruction Market 2019…
Global Composite Springs Market 2018-2025 MW Industries, Liteflex LLC, IFC Compo …
Market study on Global Composite Springs Market 2018 Research Report presents a professional and complete analysis of Global Composite Springs Market on the current market situation.
Report provides a general overview of the Composite Springs industry 2018 including definitions, classifications, Composite Springs market analysis, a wide range of applications and Composite Springs industry chain structure. The 2018's report on Composite Springs industry offers the global Composite Springs development history,…
Competitive Scenario: Carbon Fiber Composite Market By Key Players: Aeron Compos …
Qyresearchreports include new market research report Carbon Fiber Composite to its huge collection of research reports.
This report studies the global Carbon Fiber Composite market status and forecast, categorizes the global Carbon Fiber Composite market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central &…
Aluminum Composite Panels Market Potential 2017-2025 : Alubond USA, Alcoa, and 3 …
Global Aluminum Composite Panels Market: Overview
The global aluminum composite panels market is foretold to achieve the spotlight due to increasing demand for the fire-resistant variety. As consumers become conscious about their personal and property’s safety, fire-resistant aluminum composite panels could gain more demand, especially because of the need for protection against fire in enclosed spaces such as buildings. Moreover, other attributes of regular aluminum composite panels are not said to…
