Lucintel Forecasts Short Fiber Thermoplastic Market to Reach $29.0 Billion by 2031

According to the recent study the short fiber thermoplastic market is projected to reach an estimated $29.0 billion by 2031 from $28.8 billion in 2023, at a CAGR of 5.0% from 2024 to 2031. Growth in this market is primarily driven by increasing demand for light weight materials in different application markets where complex parts are designed.
A more than 150-page report to understand trends, opportunity and forecast in short fiber thermoplastic market by end use (transportation, consumer goods, electrical and electronics, and others), reinforcement type (glass fiber and carbon fiber), resin type (polypropylene, polyamide, polybutylene terephthalate and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that transportation will remain the largest end use over the forecast period due to increasing demand for short fiber thermoplastics based plastic products in automotive industry. Consumer goods is expected to witness the highest growth over the forecast period.
Glass fiber will remain the largest segment by value and volume over the forecast period because it offers high tensile strength and provides outstanding electrical properties. Carbon fiber is expected to witness highest growth rate over the forecast period.
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APAC is expected to remain the largest region by value and volume and it is also expected to witness highest gorwth over the forecast period due to growth in end usees.
BASF, DSM, DuPont, SABIC, and Lanxess are among the major short fiber thermoplastic 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 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.