Dublin, Jan. 12, 2024 (GLOBE NEWSWIRE) -- The "Thermoplastic Composites - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Thermoplastic Composites Market to Reach $46 Billion by 2030
The global market for Thermoplastic Composites estimated at US$26.3 Billion in the year 2022, is projected to reach a revised size of US$46 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2022-2030.
Short Fiber Thermoplastic (SFT), one of the segments analyzed in the report, is projected to record a 6.9% CAGR and reach US$25.7 Billion by the end of the analysis period. Growth in the Long Fiber Thermoplastic (lft) segment is estimated at 8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $7.2 Billion, While China is Forecast to Grow at 9.2% CAGR
The Thermoplastic Composites market in the U.S. is estimated at US$7.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2030 trailing a CAGR of 9.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 6.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.7 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $26.3 Billion |
| Forecasted Market Value (USD) by 2030 | $46 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Focus on Developing & Embracing New Materials Provides the Foundation for the Growth of Thermoplastic Composites
- Thermoplastic Composites: Redefining Material Excellence in Modern Engineering
- Global Economic Update
- Competition
- Competitive Market Presence - Strong/Active/Niche/Trivial for 89 Players Worldwide in 2023 (E)
- Thermoplastic Composites: Definition and Core Benefits
- Technology Advancements Present a Prospective Outlook for Thermoplastic Composites
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Encouraging Outlook for Automobile Production Despite Disruptions, Bodes Well for the Growth of Thermoplastic Composites
- Notable Applications of Thermoplastics
- As Auto Industry Focus Increasingly Shift towards Fuel Efficient Vehicles, Demand for Lightweight Thermoplastic Composites Picks up
- Rise in EV Adoption & Production to Benefit Demand for Thermoplastic Elastomers in EVs
- Steady Recovery of the Aerospace Industry to Spur Opportunities
- Thermoplastic Composites: Applications in Aerospace Industry
- Growing Focus on Weight and Fuel Cost Reduction in Aerospace Industry Augurs Well for Market Growth
- eVTOL and UAM Markets Offer Potential Opportunities
- Aircraft Interior Manufacturers Increasingly Rely on Composites
- As the World Steps up Military Spending, it is Strong Growth in the Military Aircraft Supply Chain
- Electro-Optics/Infrared Systems: Military Spending by Top Countries in 2023 (In US$ Billion)
- Consistent Rise in Wind Energy Installations Boost Demand for Composite Materials
- Composite Manufacturers Focus on Enhancing Energy Efficiency of Wind Turbines
- Sustainability Touch to Wind Turbine Blades with New Thermoplastic Resins
- Need for Durable Recreational and Sports Goods & Equipment Augurs Well for the Market
- CFRTP Emerges as a Promising Material for Consumer Electronics
- Natural Continuous Fiber-Reinforced Thermoplastic Composite - A Major Development
- Use of 3D Printing of Thermoplastic Composites with Continuous fibers Gains Momentum
- Additive Manufacture of Continuous Carbon Fiber-Reinforced Thermoplastic for UAV Structures
- Thermoplastic Composites; Increasingly Favored in Building and Construction Industry
- Advanced Thermoplastic Composites Wrap Up Plethora of Applications across Industries
FOCUS ON SELECT PLAYERS(Total 181 Featured)
- Asahi Kasei Plastics North America, Inc.
- BASF SE
- Celanese Corporation
- Daicel Polymer Ltd.
- Dieffenbacher GmbH Maschinen- und Anlagenbau
- Hanwha Azdel, Inc.
- JNC Corporation
- Kingfa Sci. & Tech. Co., Ltd.
- Koninklijke Ten Cate BV
- Lanxess AG
- PlastiComp, Inc.
- PolyOne Corporation
- PPG Fiber Glass
- Quadrant AG
- Royal DSM NV
- RTP Company
- SABIC (Saudi Basic Industries Corporation)
- Solvay SA
- Suprem SA
- TechnoCompound GmbH
- Teijin Ltd.
- Victrex PLC
For more information about this report visit https://www.researchandmarkets.com/r/qoxxmf
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