Thermoplastic Composites Market Size by Fiber Type, Resin Type, Product Type, Application, Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2030
Overview
Thermoplastic Composites Market was valued at US$ 25.89 Bn in 2023 and is expected to reach US$ 44.87 Bn by 2030, at a CAGR of 8.17 % during a forecast period.
Thermoplastic composites have evolved from structural polymer composites. It utilizes a thermoplastic matrix without experiencing chemical instability.
Thermoplastic Composites Market Dynamics:
Thermoplastics are a substitute for thermoset polymers in composites. It holds promise for a rapid rate of production. Thermoplastic composites are used in a variety of industries like automotive, aerospace, construction, and materials handling.
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Thermoplastic Composites Market Driving Factors
An Increase in Adoption of Thermoplastic Composites
Key players across several industries have witnessed an increased interest in thermoplastics composites in recent years. Some of the key companies like BMW, Audi, and aircraft manufacturers like Airbus, Boeing are expected to contribute a major share in the global thermoplastic composites market. As per the MMR analysis, the thermoplastic composites industry is expected to grow at a more than 6.80% rate of CAGR by 2030. The trend is expected to be perceived almost across every region.
A Glass Fibre-Reinforced Composites are Expected to Emerge as the new Material of Choice.
With the consideration of thermoplastic composites, glass fibre is the most widely used reinforcement and is expected to continue in the near future. According to the MMR analysis, the global glass fibre reinforced plastic (GFRP) composites market is expected to reach US $ 41.51 Bn by 2030, with a CAGR of 7.8%. The demand for GFRP composite pipes from developing economies are offering key opportunities to the key players.
Thermoplastic Composites Market Segment Analysis:
Thermoplastic composites offer OEMs a key opportunity to replace metals like steel and aluminium with a lightweight material, which offers excellent formability, corrosion resistance, and strength. The benefits offered by thermoplastic composites are expected to increase its demand to create lighter aircraft and faster car. The transportation sector is expected to contribute xx% share in the thermoplastic composites market. The main driving force behind the emergence of thermoplastic composites is the expansion of the automotive industry.
The Race to the Electric Car: Driving the Demand for Thermoplastic Composites
The car industry fragments and the new electric/hydrogen vehicle manufacturers are expected to focus on re-write the blueprint for car production. The lightweight material is the main agenda for OEM. The major manufacturers have awakened by consumer pressure and legislation to make big steps in vehicle efficiency. Electric vehicles are expected to be one of the prime drivers behind the thermoplastic composites market growth. It offers excellent strength and plays a vital role in the weight reduction of vehicles, which makes them useful in the production of electric vehicle components.
Aerospace- Thermoplastic Composites demand increased for lightweight and fast cycle Time
According to the Aircraft industry forecasts, more than xx new aircraft are expected to require by the world’s airlines before 2030. Almost more than 1800 aircraft are expected to manufacture every year. The demand for thermoplastic material requires new approaches and new technologies to meet the demand for aircraft production. Advanced composite materials such as thermoplastic composites are expected to play a key role, which help to accelerate part development cycles and reduction in construction time.
Thermoplastic Composites Market Regional Analysis:
The Asia Pacific held the dominant position and is projected to continue its dominance in the near future in the global thermoplastic composite market. The region is a major automotive hub among all region across the globe. The rapid expansion of the end-user industries like transportation, aerospace & defence, and electronics are expected to drive the regional market growth.
Trends in population growth, global ageing and middle-class growth in the region are expected to have a large impact on the end-use industry. China is the major contributor country for composite material. The detailed regional analysis with each country scenario has been covered in the report.
Thermoplastic Composites Market Competitive Analysis:
In the thermoplastic composites market scenario, it is expected to see some competition between the developing thermoplastic composites technologies based on the refined, cost and raw/intermediate materials factors. With the composites in general, the composites in general, raw material supplier have to require the education and training of designers to ensure that sensible design for process practices.
The objective of the report is to present a comprehensive analysis of the Global Thermoplastic Composites Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Thermoplastic Composites Market dynamics, structure by analyzing the market segments and projects the Global Thermoplastic Composites Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Thermoplastic Composites Market make the report investor’s guide.
Thermoplastic Composites Market Scope: Inquire before buying
| Global Thermoplastic Composites Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 25.89 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 8.17% | Market Size in 2030: | US $ 44.87 Bn. |
| Segments Covered: | by Fiber Type | Carbon Fiber Glass Fiber Others |
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| by Resin Type | Polyamide Polyetheretherketone Polypropylene Others |
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| by Product Type | Long Fiber Continuous Fiber Short Fiber Glass Mat |
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| by Application | Transportation Aerospace & Defense Electrical & Electronics Others |
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Thermoplastic Composites Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Thermoplastic Composites Market, Key Players are
1. Hexcel Corporation
2. Celenase Corporation
3. Dowdupont Inc.
4. Tencate
5. Solvay
6. Toray Industries, Inc.
7. SABIC
8. Polyone Corporation
9. Mitsubishi Chemical Advanced Materials
10. Covestro AG
11. Victrex plc.
12. SGL Group
13. Techno compound gmbh
14. SUPREM SA
15. Kingfa SCI. & TECH. CO., LTD
16. Daicel Polymer Ltd
17. RTP Company
18. Ascend performance materials llc.
19. Lanxess A.G.
20. BASF SE
21. Arkema
22. Royal Tencate NV
23. Cytec Industries
24. Bayer MaterialScience
25. Royal DSM
Frequently Asked Questions:
1. Which region has the largest share in Global Thermoplastic Composites Market?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Thermoplastic Composites Market?
Ans: The Global Thermoplastic Composites Market is growing at a CAGR of 8.17% during forecasting period 2024-2030.
3. What is scope of the Global Thermoplastic Composites market report?
Ans: Global Thermoplastic Composites Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Thermoplastic Composites market?
Ans: The important key players in the Global Thermoplastic Composites Market are – Hexcel Corporation, Celenase Corporation, Dowdupont Inc., Tencate, Solvay, Toray Industries, Inc., SABIC, Polyone Corporation, Mitsubishi Chemical Advanced Materials, Covestro AG, Victrex plc., SGL Group, Techno compound gmbh, SUPREM SA, Kingfa SCI. & TECH. CO., LTD, Daicel Polymer Ltd, RTP Company, Ascend performance materials llc., Lanxess A.G., BASF SE, Arkema, Royal Tencate NV, Cytec Industries, Bayer MaterialScience, and Royal DSM.
5. What is the study period of this market?
Ans: The Global Thermoplastic Composites Market is studied from 2023 to 2030.