Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Long Fiber Thermoplastics Market by Fiber Type (Glass, Carbon), Resin Type (PA, PP, PEEK, PPA), Manufacturing Process (Injection Molding, Pultrusion, Direct-LFT (D-LFT)), End-use Industry and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global long fiber thermoplastics market size is expected to grow from USD 3.5 Billion in 2021 to USD 6.1 Billion by 2027, at a CAGR of 9.3% during the forecast period. The long fiber thermoplastics offer exceptional properties, such as stiffness, strength, tenacity, density, and thermal & electrical conductivity, fatigue, and corrosion resistance. Owing to these outstanding properties offered by the long fiber thermoplastics, conventional materials such as aluminum steel are preferred less in high-performance applications.
Glass long fiber thermoplastics are the fastest-growing fiber type of long fiber thermoplastics market in terms of value
The glass fiber thermoplastics segment accounted for the largest share of the long fiber thermoplastics market, accounting for 55.7% and 89.4% in terms of value and volume, respectively, in 2021. Carbon fiber thermoplastic is extensively used in sporting goods and aerospace applications, requiring high stiffness and high-performance products. This segment is expected to register the highest CAGR, owing to the increasing use of these fibers in high-performance long-fiber thermoplastics used in transportation and electrical & electronics applications.
PA resin-based long-fiber thermoplastics is the fastest-growing resin type of long-fiber thermoplastics, in terms of value.
PA resin-based long-fiber thermoplastics are the fastest-growing resin type. PA resins are partially crystalline thermoplastics that offer an ideal combination of properties for applications such as automotive, furniture, medical, and electronics. The resin is used in long-fiber thermoplastics. It is easy to process and has a high heat and chemical attack resistance, mechanical strength, and stiffness with good dielectric properties, friction, and wear resistance. Major drivers of this market are the growing demand for long fiber thermoplastics with high thermal stability in the under-hood applications of the automotive industry..
The piultrusion manufacturing process is the fastest-growing manufacturing process of long-fiber thermoplastics, in terms of value
Pultrusion is a low-cost, high-speed, automated, and versatile cross-sectional shape process. It is a process used to make various complex shapes. In this process, reinforcement materials, such as fibers, are impregnated with resin. A separate performing system follows this pulled through a heated stationary die, where the resin undergoes polymerization. The die completes the impregnation of fiber, controls the resin content, and cures the material into its final shape as it passes through the die. Its applications include door & window frames, rails & fences, and bridges, where a firm structure is required.
Automotive is the fastest-growing end-use industry of long-fiber thermoplastics, in terms of value
The Automotive end-use industry is expected to grow at the highest CAGR during the forecast period. The use of long fiber thermoplastics in automobiles provides high tensile strength, helping manufacturers to achieve high fuel economy. Due to its corrosion resistance properties, long fiber thermoplastics have helped the wind industry to grow by allowing wind turbines to work in the harshest environments
APAC is the fastest-growing long-fiber thermoplastics market
APAC is projected to register the highest CAGR in terms of value in the global long-fiber thermoplastics market during the forecast period. The growth of the long fiber thermoplastics market in Asia Pacific is driven by increasing consumption in various industries, such as automotive, construction, aerospace, and electrical & electronics. The market in these end-use industries is led by China, India, Japan, and South Korea. The growing electric vehicles market is among the key factors boosting the demand for long-fiber thermoplastics in the automotive end-use industry.
Research Coverage
This report covers the global long-fiber thermoplastics market and forecasts the market size until 2026. The report includes the market segmentation - Fiber Type (Glass, Carbon, and Other), Resin Type(PA, PP, PEEK, PPA, and others), Manufacturing process (injection molding, pultrusion, Direct-LFT, and others), End-use Industry (Automotive, Electrical & Electronics, Consumer goods, Sporting goods, and Others) and Region (Europe, North America, APAC, South America, and MEA). Porter's Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global long-fiber thermoplastics market.
Market Dynamics
Drivers
- Increased Demand for Fuel-Efficient Vehicles
- Exceptional Properties Over Short Fiber Thermoplastics
- Less Generation of VOCs and Recyclability
Restraints
- Weaker Mechanical Properties and Higher Cost Than Thermosets
- High Processing and Manufacturing Costs
Opportunities
- Use of Long Fiber Thermoplastics in Various End Use Industries
Challenges
- Need to Reduce Capital and Technology Costs
- High R&D Cost
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 258 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.5 Billion |
| Forecasted Market Value (USD) by 2028 | $6.1 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Long Fiber Thermoplastics Market, by Resin Type
7 Long Fiber Thermoplastics Market, by Fiber Type
8 Long Fiber Thermoplastics Market, by Manufacturing Process
9 Long Fiber Thermoplastics Market, by End Use Industry
10 Long Fiber Thermoplastics Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Asahi Kasei Corporation
- Avient Corporation
- Basf Se
- Celanese Corporation
- Daicel Polymer Ltd.
- Dieffenbacher
- Kingfa
- Lanxess Ag
- Mitsubishi Chemical Group Corporation
- Rtp Company, Inc.
- Sabic
- Sambark Lft Co. Ltd.
- Sbhpp
- Sumitomo Chemical Company Ltd.
- Technocompound GmbH
- Toray Industries, Inc.
- Solvay Sa
For more information about this report visit https://www.researchandmarkets.com/r/7eofwv
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