Lucintel Forecasts Long Fiber Thermoplastics Market to Reach $1,149 million by 2031

According to the recent study the long fiber thermoplastics market is projected to reach an estimated $1,149 million by 2031 from $891 million in 2024, at a CAGR of 4% from 2024 to 2031. Growth in this market is primarily driven by increasing demand for lightweight parts with high performance benefits in the automotive industry helped to boost the global demand for long fiber thermoplastics.
Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in long fiber thermoplastics market by end use (automotive, consumer goods, industrial goods, and others), material forms (LFRT and D-LFT), fiber type (glass fiber, carbon fiber and others), resin type (polypropylene, polyamide, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that automotive industry will remain the largest end use and it is also expected to witness highest growth over the forecast period due to increasing demand for long fiber thermoplastics based plastic products in automotive end use.
LFRT will remain the largest segment by material form both in terms of value and volume because it offers greater design flexibility and provides better resistance to chemicals and corrosion. LFRT is also expected to witness the highest growth over the forecast period.
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Europe is expected to remain the largest region by value and volume and ROW is expected to experience the highest growth over the forecast period due to growth in end uses.
SABIC, RTP Company, Cytec Solvay Group, JNC Corporation, Borealis AG, TechnoCompound, Sambark LFT Inc., Xiamen LFT Composites, Avient, and Celanese Corporation are among the major long fiber thermoplastics providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Lucintel
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Lucintel finds that the future of the global glass fiber material market is promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy. The glass fiber material market is expected to reach an estimated $14 billion by 2031 with a CAGR of 4% from 2024 to 2031.

This release was published on openPR.