Thermoplastic Compounds Market is Forecasted to Reach US$ 20.4 billion in 2027, Says Stratview Research

The global Thermoplastic Compounds Market is projected to witness a growth rate of 5.5% annually from 2022 to 2027, with an anticipated size of US$ 20.4 billion in 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Thermoplastic Compounds Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/2773/thermoplastic-compounds-market.html#form

Report Highlights: `
Market Size in 2027: US$ 20.4 billion
Growth (CAGR): 5.5% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Thermoplastic Compounds Market:
The global Thermoplastic Compounds Market is segmented Material Type, End-Use Industry Type, Product Type, Fiber Type, Resin Type & Region

Based on material type: The market is segmented as GMT (Glass Mat Thermoplastic), LFT (Long Fiber Thermoplastic), SFT (Short Fiber Thermoplastic), and CFT (Continuous Fiber Thermoplastic). SFT is estimated to maintain its irrefutable lead in the market during the forecast period, in terms of both, value as well as volume. Several factors behind the dominance of SFT over other thermoplastic compounds are its lower cost, additional strength, wide application usage, and moldability.
On the other hand, CFT is projected to record the fastest long-term growth during the forecast period due to increasing demand for high-performance CFTs, especially in the aerospace & defense industry.

Based on end-use industry type: The market is classified into aerospace & defense, transportation, consumer goods, electrical & electronics, construction, and others. Transportation is expected to remain the biggest demand generator for thermoplastic compounds in terms of both value and volume in the foreseen future.
Thermoplastic composites are becoming a popular choice for automotive applications, propelled by the increasing incorporation of lightweight materials in vehicles with the sole aim of reducing vehicle weight to achieve greater fuel efficiency.
Aerospace & defense is expected to record the highest CAGR (value & volume) during the forecast period. All the leading aircraft manufacturers are turning to thermoplastic compounds for their significant weight reductions, cost savings, and other advantages.

Based on resin type: The market is segmented as PP (polypropylene), PA (Polyamide), PBT (polybutylene terephthalate), PPS (Polyphenylene sulfide), PC (Polycarbonate), and others. Polyamide (PA) is expected to remain the most preferred resin type in the thermoplastic compounds market during the forecast period.
PA resin offers high temperature and electrical resistance and is widely used in transportation, consumer goods, and electrical and electronics applications among others. Some commonly used polyamides are PA11, PA12, PA46, PA6, and PA66.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2773/thermoplastic-compounds-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis Asia-Pacific will continue as the largest and fastest-growing market for thermoplastic compounds, with significant demand also anticipated from North America and Europe during the forecast period. This growth outlook is majorly attributed to the following-
• China, Japan, South Korea, and India are the major markets for thermoplastic compounds in the region and are anticipated to maintain their dominance in the region's market in the years to come.
• The introduction of stringent regulations is leaving no options before automakers except to incorporate lightweight materials in their vehicles.
• Thermoplastic compounds remain the priority of all the leading automakers.
• North America and Europe are also likely to create significant demand during the forecast period. The USA and Mexico are the major markets in North America, whereas Germany, France, the UK, and Russia are the major markets in Europe.

Thermoplastic Compounds Market Drivers:
The growth of the Thermoplastic Compounds Market is driven by several factors.
• The growth of the thermoplastic compounds market in the composites industry is driven by their widespread adoption across major sectors such as automotive, consumer goods, and electrical & electronics.
• The ability of thermoplastic composites to be remolded multiple times without property degradation gives them a significant advantage over thermoset composites, ensuring extended usability and sustainability.
• Additionally, the continuous R&D efforts in the composites industry have enhanced the performance and versatility of thermoplastic compounds, making them the preferred choice for various applications. Their classification into GMTs, LFTs, SFTs, and CFTs further allows for customized solutions catering to specific industry needs, fueling market expansion.

Top 10 Companies in the Thermoplastic Compounds Market:
Stratview Research has identified the following companies as the top market players:
• BASF SE
• Celanese Corporation
• DSM N.V.
• DuPont
• Hanwha Corporation
• LANXESS AG
• RTP Company
• SABIC
• Solvay S.A. (Cytec Industries Incorporated)
• Toray Industries Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Thermoplastic Compounds Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Short Fiber Thermoplastic Market: https://www.stratviewresearch.com/2773/thermoplastic-compounds-market.html
• Long Fiber Thermoplastics Market: https://www.stratviewresearch.com/793/long-fiber-thermoplastics-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.