Dublin, March 08, 2023 (GLOBE NEWSWIRE) -- The "Thermoplastic Composites Market Size, Share & Trends Analysis Report by Resin (PA, PP), by Fiber (Carbon, Glass), by Product (SFT, LFT), by End-use (Transportation, Aerospace & Defense), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global thermoplastic composites market size is expected to reach USD 62.62 billion by 2030, registering a CAGR of 7.8% over the forecast period,. This growth can be attributed to the rising product demand in the aerospace and automotive industries as well as exponential growth in the construction industry.Thermoplastic composites are used in the construction of residential buildings, infrastructure, and water utilities. Properties, such as excellent strength, toughness, and ability to be recycled & remolded, make thermoplastic composites an ideal choice for the manufacturing of construction applications.
Moreover, the material is used for the production of storage tanks, lightweight structures, window frames, utility poles, railings, pipes, panels, and doors. The automotive industry is one of the key application segments. Manufacturers are focusing on increasing fuel efficiency, for which they are replacing metals and steel with lightweight thermoplastic composites. For instance, carbon fiber weighs one-fifth of steel, hence, it aids in reducing the overall weight of the vehicle. According to the European Commission, the carbon emission cap target for cars is to reach 95 grams per kilometer from 130 grams per kilometer by 2024, whichis expected to increase the demand for thermoplastic composites in car manufacturing.
Furthermore, the product is also used to manufacture fuel-efficient vehicles by substituting wood, steel, and aluminum.The mixing of thermoplastic composites results in the formation of hybrid materials with superior structural properties. This material is used in the manufacturing of components for the aerospace industry. In addition, different properties of thermoplastic composites including superior strength, surface texture, weather-resistant finish, and insubstantial weight are expected to boost their demand in the aerospace industry. Manufacturers opt for resin type based on cost and environmental considerations. The industry is witnessing the development of low-cost manufacturing technologies for the production of thermoplastic composites.
Companies are investing heavily in R&D as well as supporting the research work conducted for technological development. For instance, Toray Group is offering various technologies for Hi-Rate Composite Aircraft Manufacturing (HiCAM) project. North America is expected to grow at a steady CAGR over the forecast period. Stringent regulations in North American countries, such as EPA emission restrictions and vehicle emission reduction programs, are expected to boost the demand for thermoplastic composites in the region. High disposable income and the presence of suitable infrastructure, supportive government initiatives, and major automobile manufacturers, such as Chrysler, Tesla, Ford, and Cadillac, are expected to augment the region's growth over the forecast period.
Thermoplastic Composites Market Report Highlights
- The Polyetheretherketone (PEEK) thermoplastic composites resin segment is expected to grow at a significant CAGR over the forecast period. This resin is used in applications, such as aerospace, biomedical, high-temperature electrical, structural and automotive, and helps in manufacturing parts that are lightweight and strong
- The glass segment accounted for the maximum revenue share in 2021. The product is widely used for the production of thermoplastic composites as it is considered more cost-effective as compared to carbon fiber
- Glass fiber is a fiber-reinforced polymer composite that has properties including low density, easy processing, and high strength. Fiber glass-based thermoplastic composites are widely used in automotive, aerospace, construction, and sporting goods
- The transportation application segment dominated the industry in 2021. Thermoplastic composites find applications in automotive, trucks, trailers, buses, trains, subways, and motorcycles
- These industries utilize thermoplastic composites for the manufacturing of strong and lightweight components replacing the usage of metal. The material has the stiffness and strength of metals but is comparatively lighter, which aids in manufacturing lightweight parts
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $34.36 Billion |
| Forecasted Market Value (USD) by 2030 | $62.62 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Thermoplastic Composites Market Variables, Trends & Scope
Chapter 4. Thermoplastic Composites Market: Resin Estimates & Trend Analysis
4.1. Definition & Scope
4.2. Thermoplastic Composites Market: Resin Movement Analysis, 2021 & 2030
4.3. Polyamide (PA)
4.4. Polypropylene (PP)
4.5. Polyether ether ketone (PEEK)
4.6. Others
Chapter 5. Thermoplastic Composites Market: Fiber Estimates & Trend Analysis
5.1. Definition & Scope
5.2. Thermoplastic Composite Market: Fiber Movement Analysis, 2021 & 2030
5.3. Glass Fiber
5.4. Carbon Fiber
5.5. Others
Chapter 6. Thermoplastic Composites Market: Product Estimates & Trend Analysis
6.1. Definition & Scope
6.2. Thermoplastic Composite Market: Product Movement Analysis, 2021 & 2030
6.3. Short Fiber Thermoplastic (SFT)
6.4. Long Fiber Thermoplastic (LFT)
6.5. Others
Chapter 7. Thermoplastic Composites Market: End-use Estimates & Trend Analysis
7.1. Definition & Scope
7.2. Thermoplastic Composite Market: End-Use Movement Analysis, 2021 & 2030
7.3. Transportation
7.4. Aerospace & Defense
7.5. Electrical & Electronics
7.6. Consumer Goods
7.7. Construction
7.8. Wind Energy
7.9. Marine
7.10. Others
Chapter 8. Thermoplastic Composites Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Hexcel Corporation
- Celanese Corporation
- Toray Advanced Composites
- Solvay
- Lanxess
- Avient Corporation
- Sgl Carbon
- Mitsubishi Chemical Corporation
- Arkema
- Avanko Group
- Teijin Limited
- Owens Corning
- Dsm
- Cutting Dynamic, Inc.
- Tri-Mack Plastic Manufacturing Corporation
For more information about this report visit https://www.researchandmarkets.com/r/g60rh1
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
