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Thermoplastic Composites Market to Hit $60.4B by 2032 | Automotive Leads with 57% Share | Asia-Pacific Fastest Growing at 48% | DataM Intelligence
thermoplastic composites
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🔹 United states industry development
⇥ U.S. thermoplastic composites market valued at about USD 7.2 billion in 2024, projected to reach USD 16.2 billion by 2034 with a CAGR of 8.46%.
⇥ February 2025: Syensqo expanded thermoplastic composites capacity with a new production line in Anaheim, California, addressing aerospace demand for high-performance materials.
⇥ April 2025: At JEC World 2025, new thermoplastic composites innovations were showcased, including flame retardant machining and digitized manufacturing processes.
⇥ The U.S. market is increasingly adopting automated manufacturing with sustainable, recyclable thermoplastic composites driven by aerospace, automotive, and construction sectors.
🔹 Japan industry development
⇥ Japan's thermoplastic composites market estimated at around USD 1.5 billion in 2024, expected to grow to approximately USD 3.2 billion by 2032 at a CAGR of about 9.8%.
⇥ 2025: Japanese firms boosted investment in advanced manufacturing technologies like 3D printing and advanced injection molding, improving thermoplastic composites production efficiency.
⇥ Research in Japan introduced novel recycling methods for carbon-fiber composites using electrical pulse techniques to enhance recovery energy efficiency.
⇥ The automotive and aerospace sectors in Japan push adoption of thermoplastic composites for lighter, impact-resistant, recyclable components aligned with sustainability goals.
🔹 Market segmentation with Market share -
➠ By Resin Type :
Polyamide (PA): 38% share, widely used for cost-effective applications.
Other resins fill remaining share, balancing cost and thermal/mechanical properties.
➠ By Fiber Type :
Glass fiber: Dominates with 88% share due to cost-effectiveness, light weight, and versatility across sectors.
Carbon fiber: Growing at 5.75% CAGR; preferred for aerospace, premium automotive, and energy due to higher modulus and strength.
Other fibers occupy smaller segments.
➠ By Product Type :
Short-fiber thermoplastics: 38% share, common for injection molding with cost benefits.
Long-fiber thermoplastics gaining momentum with expected 5.23% CAGR, offering better strength close to continuous fibers but at lower cost.
Injection molding accounts for about 73% of processing, signaling equipment influence on product choice.
➠ By End-User Industry:
Automotive: 57%, leading market owing to demand for lightweight, durable parts.
Aerospace & Defense: High-growth segment with 6.11% CAGR, valued for high-performance composites.
Other industries include construction, consumer goods, wind energy, and electronics.
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🔹 Regional insights-
➠ North America: 30% of global revenue in 2024 .
Growth is primarily driven by strong adoption in aerospace, automotive, and defense sectors, supported by heavy R&D, advanced manufacturing, and regulatory push for sustainability.
➠ Asia‐Pacific: The fastest-growing region. 48% market share anchored by China, India, and other major manufacturing hubs.
Growth is fueled by rapid industrialization, EV production (especially in China), infrastructure development, and government support for lightweight materials.
➠ Europe: A mature, well-established market. According to MarketResearchFuture, it accounts for 33% of global share.
Growth is driven by stringent environmental regulations (e.g., CO2 emissions), circular economy goals, and strong adoption in automotive, wind energy, and industrial machinery.
🔹 Emerging players :-
⇥ Avient Corporation leads with about 6% share, growing due to specialty materials and strong custom compounding capabilities catering to automotive and aerospace sectors.
⇥ AVANCO Group holds approximately 4% market share, expanding driven by innovations in recycling and sustainability-focused thermoplastic composites.
⇥ TechnoCompound GmbH commands around 3.5% share, supported by advanced thermoplastic extrusion technologies and tailored material solutions.
⇥ Cutting Dynamic, Inc. has about 2.8% share, growing through niche high-performance composite products and strong aerospace partnerships.
⇥ Tri-Mack Plastic Manufacturing Corp. holds near 2% share, focusing on ultraprecise and custom thermoplastic composite molding for transportation and industrial markets.
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🔹 Key Investment:
➠ Avient Corporation (U.S.): Committed over USD 40 million towards expanding specialty compounding facilities focused on automotive and aerospace thermoplastic composites, supporting lightweight and high-strength material innovations.
➠ TechnoCompound GmbH (Germany): Invested approximately USD 15 million in automated thermoplastic extrusion technology upgrades to improve production efficiency and customization capabilities.
➠ AVANCO Group (Europe): Allocated USD 18 million in 2025 for scaling recycled thermoplastic composite product lines, tapping into sustainability trends and circular economy initiatives.
➠ Local Motors (U.S.): Invested USD 20 million to integrate 3D printing and thermoplastic composite materials in electric vehicle manufacturing for lightweight and rapid production benefits.
🔹 Growth Drivers:-
Increasing adoption in electric vehicles due to excellent strength-to-weight ratio and molding flexibility.
Advancements in manufacturing technologies like automated fiber placement and long-fiber injection molding driving cost and efficiency benefits.
Regulatory pressure for sustainable, recyclable materials fostering innovations in bio-based and recycled thermoplastic composites.
Growth in construction and consumer goods sectors, benefiting from corrosion resistance and durability of thermoplastic composites.
Rapid industrialization and urbanization, particularly in Asia Pacific, driving increased adoption in infrastructure and transportation.
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