Global Thermoplastic Composites Market intelligence with competitive landscape in 2022
The Thermoplastic Composites Market is projected to grow from USD 26.02 Billion in 2017 to USD 41.93 Billion by 2022, at a CAGR of 8.34% between 2017 and 2022. Increased use of thermoplastic composites in the transportation and aerospace & defense applications due to various properties offered by them, which include ease of recyclability, low curing time, high strength, and increased rigidity, among others are the factors driving the growth of the thermoplastic composites market across the globe.
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Target Audience
- Manufacturers of Thermoplastic Composites
- Suppliers of Raw Materials
- Distributors and Suppliers of Thermoplastic Composites
- End-use Industries
- Industry Associations
Based on resin type, the thermoplastic composites market has been classified into polypropylene resin, polyamide resin, polyetheretherketone resin, and others. The polypropylene resin segment is projected to lead the thermoplastic composites market during the forecast period in terms of both, value as well as volume. Polypropylene resins offer high chemical resistance, fatigue resistance, insulation, elasticity, transmissivity, and toughness. These resins are suitable for applications such as transportation, electrical & electronics, marine, sporting goods, and building & construction, among others.
Based on product type, the thermoplastic composites market has been segmented into short fiber thermoplastic composites, long fiber thermoplastic composites, continuous fiber thermoplastic composites, and glass mat thermoplastic composites. The short fiber thermoplastic composites segment is projected to lead the thermoplastic composites market due to low costs of short fiber thermoplastic composites, ease of their manufacturing, and less processing time involved in their manufacturing.
Among applications, the electrical & electronics segment is projected to lead the thermoplastic composites market during the forecast period, in terms of both, value as well as volume. The growth of this segment of the market can be attributed to the increased demand for thermoplastic composites to fabricate electrical connectors and accessories, electronics equipment, and consumer goods. Thermoplastic composites are increasingly being used in electrical & electronics and consumer goods applications due to their high impact resistance, increased strength, and improved durability. Moreover, they also reduce the overall weight of components manufactured from them.
Major manufacturers dominated in the Thermoplastic Composites Market are Celanese Corporation (US), DuPont (US), Royal DSM N.V. (Netherlands), Koninklijke Ten Cate bv (Netherlands), SABIC (Saudi Arabia), Lanxess AG (Germany), Solvay S.A. (Belgium), BASF SE (Germany), PlastiComp, Inc. (US), PolyOne Corporation (US), and Quadrant AG (Switzerland), among others.
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