Navigating the Future: Thermoplastic Composite Market Trends and Forecast Insights, 2025 Edition

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Thermoplastic Composite Market Size Growth Forecast: What to Expect by 2025?
The market for thermoplastic composites has witnessed significant expansion in the previous years. The market size is expected to increase from $20.56 billion in 2024 to $21.96 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.8%. The historic period's growth can be credited to factors such as weight reduction in automobiles, growth of the aerospace industry, emphasis on sustainability and recycling, cost-effective manufacturing processes, and design flexibility.

How Will the Thermoplastic Composite Market Size Evolve and Grow by 2029?
The market size of thermoplastic composites is touted to experience substantial growth in the upcoming years, expanding to an impressive $29.82 billion by 2029, with a compound annual growth rate (CAGR) of 7.9%. Factors driving this growth throughout the forecasted period range from advancements in renewable energy infrastructure and smart manufacturing technologies to e-mobility expansion, progressing urbanization, and infrastructure and aerospace advancements. The future seems to hold pivotal trends like increased uptake in the automotive sector, growth of hybrid composite structures, application of 3D printing in thermoplastic composites, use of sophisticated manufacturing processes such as automated fiber placement (AFP), and the development of tailored material formulations.

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What Drivers Are Propelling the Growth of Thermoplastic Composite Market Forward?
The expansion in electric vehicle demand is anticipated to prompt a surge in thermoplastic composite demand throughout the projection period. As they are eco-friendly and reduce carbon emissions in the vehicle industry, the demand for electric vehicles is likely to rise in the approaching years. Thermoplastic composites, with their superior strength, significantly aid in decreasing the overall vehicle weight, making them advantageous for vehicle component manufacturing. In a December 2021 article by RBSA Advisors, it was projected that the Indian electric vehicle market is set for a 90% CAGR growth this decade, reaching $150 billion by 2030. Additionally, the China Association of Automobile Manufacturers (CAAM) predicts that new energy vehicle (NEV) sales in China will likely jump from 1.4 million in 2020 to 3 million in 2021. Consequently, the burgeoning electric vehicle market will speed up the manufacturing of electric vehicle components, fostering the demand for thermoplastic components throughout the forecast period.

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Which Emerging Trends Are Transforming the Thermoplastic Composite Market in 2025?
The emergence of cost-effective production technology is a fresh trend in the thermoplastic composites industry. Thermoplastic composite companies are progressively pouring resources into research and development to create new, technologically advanced products that cater to the specific technical needs of global clients. For instance, Sumika Polymer Compounds, a thermoplastics manufacturer based in the UK, collaborated with the Manufacturing Intelligence division of Hexagon, a Swedish digital reality solutions provider, in January 2023. This partnership focused on digitizing the performance of new sustainable automotive-grade polypropylene (PP) compounds with sensor, software, and autonomous technologies. This allowed engineers to construct components that are more recyclable and contribute to a reduced carbon footprint for upcoming vehicles.

What Are the Key Segments in the Thermoplastic Composite Market?
The thermoplastic composite market covered in this report 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), ket*one (PEEK), Other Resin Types
4) By End-Use Industry: Transportation, Consumer goods & electronics, Wind Energy, Sports & Leisure, Construction, Aerospace & Defense, Other End Users

Subsegments:
1) By Short Fiber Thermoplastics: Glass Fiber Reinforced Thermoplastics, Carbon Fiber Reinforced Thermoplastics, Natural Fiber Reinforced Thermoplastics
2) By Glass Mat Thermoplastics: Thermoplastic Polyurethane (TPU) Glass Mat Composites, Polypropylene (PP) Glass Mat Composites, Other Glass Mat Composites
3) By Long Fiber Thermoplastics: Long Glass Fiber Reinforced Thermoplastics, Long Carbon Fiber Reinforced Thermoplastics, Long Natural Fiber Reinforced Thermoplastics
4) By Continuous Fiber Thermoplastics: Continuous Glass Fiber Thermoplastics, Continuous Carbon Fiber Thermoplastics, Continuous Aramid Fiber Thermoplastics

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Who Are the Key Players Shaping the Thermoplastic Composite Market's Competitive Landscape?
Major companies operating in the thermoplastic composite market include BASF SE, 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, Hexcel Corporation, Owens Corning, RTP Company, Techmer PM LLC, Tri-Mack Plastics Manufacturing Corporation, Victrex PLC, Web Industries Inc.

What Geographic Markets Are Powering Growth in the Thermoplastic Composite Market?
Asia-Pacific was the largest region in the thermoplastic composite market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoplastic composite market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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