Growth of Automotive Application Leads to Increasing Demand for Long Fiber Thermoplastics to Reach US$ 7.7 billion by 2031


PUNE, India, July 19, 2021 (GLOBE NEWSWIRE) -- The Global Long Fiber Thermoplastics Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

Long fiber thermoplastics market size was estimated to be US$ 2.75 billion in 2020 and is expected to reach US$ 7.7 billion by 2031 at a CAGR of 9.9%. Long fiber thermoplastics primarily are utilized in form of composites in building and structures on account of its resistivity against chemicals and non-conductive trait acting as insulating shield for structures resulting in the long-life span of buildings. Also, Long fiber thermoplastics versatility that can be used in discrete manufacturing domains and high temperature resistivity has animated the market development since past few years. Moreover, long fiber thermoplastics are progressively utilized as substitutes to metals in virtue of their diminutive cost aspect.

Growth driving factors of Global Long Fiber Thermoplastics Market

Significant development of automobile sector has intensified demand for these particulars, which may strengthen long fiber thermoplastics market size. These items are utilized in assembling of car parts like vehicle seats, dashboards, and openings attributable to its fortified mechanical solidness. Worldwide vehicle parts fabricating business sector may outperform previously registered CAGR by 2031.

LFT are likewise utilized in assembling of electrical hardware's as it maintains high thermal resistivity which defines it as prudent protector, along these lines propelling industry development during the forecast period of 2021-2031.

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Unhealthy lifestyle choices along with unhealthy eating habits has thrived clinical disorders among people, which has moved public spotlight towards cycling and sports exercises. These factors have prompted elaboration in trades of bikes which may evolve the market size resulting from its, solidness and strength. Built up LFT is used in manufacturing of golf shaft, badminton racquets, which may fuel item demand in the marketplace during speculation period.

Carbon fiber built up thermoplastics is used in auto industry as it renders gratuitous fuel-efficient traits resulting from its lightweight property, which may expand the market size. Worldwide car industry is expected to explicitly grow during the period 2021-2031.

Automobile comprises complex design plan and need adaptable material to stimulate streamlined constructions to diminish drag produced during functioning of vehicle. Injection molding has popularity as it helps in creating high-strength long fiber thermoplastics and is broadly utilized in the car business to manufacture high intensity to-weight proportion parts for automobiles. The development of these segments is postulated to help the development of the long fiber thermoplastics market during the forecast period.

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These thermoplastics parts are shipped in mechanical industry to make pool seating chairs, office, and garden artifacts attributable to its mechanical firmness and inflexibility which safeguards antiques from direct daylight damage. Worldwide furniture market is expected to expand at a considerable rate in virtue of rising utilization of LFT in manufacturing processes.

The leading market segments of Global Long Fiber Thermoplastics Market

Long fiber thermoplastics market size from polypropylene prospect is expected to rise significantly. The item is used in packing and assembling of toys, furniture segments and shielders resulting from its synthetic and thermal safe properties which may animate item demand by 2031. LFT market size from polyamide gum aspect is projected notable gains during the in anticipated course of events. These thermoplastics maintain excellent mechanical properties due to which it is used for modern application in assembling of vehicles and farm trucks, dashboards, seals, and roof fans. These aspects are anticipated to drive market development during the forecast period.

Long glass fiber thermoplastics market size from vehicle application is anticipated to observe gains more than previously registered score. These items are used in avionic business for manufacturing of flying apparatuses to lessen massiveness of these machines, which assists movement of these pieces of hardware. It is additionally utilized as base of electronic apparatuses which may animate industry magnitude.

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Long fiber thermoplastics market size from glass fiber built up thermoplastic’s material is expected to be significant during the evaluated period. This item is broadly utilized in automobile industry as it brags adaptability which makes shaping vehicle parts conformable. It additionally gives more protection by taking care of harms and forestalls cracks which may cause paint pops, chafing and pits which thus give mechanical robustness. These items are generally utilized in building and real estate, auto assembling, aeronautical trade and electrical industry which may expand the market development. Europe represents the biggest share in the long fiber thermoplastics market, attributable to the developing economies of the Germany, UK, the presence of decisive players, and thriving car industry.

In Europe, Germany is projected to develop at the quickest rate during the forecast period. It is the sizable market for long fiber thermoplastics in Europe. The financial development of the nation is the primary aspect contributing to maximum usage of long fiber thermoplastics. The automobile and different businesses are quickly extending, subsequently driving the demand for long fiber thermoplastics in the province.

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The key players of the Global Long Fiber Thermoplastics Market are:

Owens Corning, Johns Manville, Dow, Cytec Industrial Materials, PPG, Momentive, Cytec, Hexcel, AOC, and others.
Global Long Fiber Thermoplastics Market Key Segments:

Based on Resin Type

  • Polypropylene
  • Polyamide
  • Polybutylene Terephthalate
  • Polyether Ether Ketone
  • Polyphenylene Sulfide
  • Others

Based on Product Type

  • Long Fiber Reinforced Thermoplastics
  • Short Fiber Reinforced Thermoplastics
  • Continuous Fiber Thermoplastics
  • Glass Mat Thermoplastics
  • Others.

Based on Fiber Type

  • Glass Fiber
  • Carbon Fiber

Based on Manufacturing Type

  • Pellet Pultrusion Processing
  • Injection Moulding
  • Direct
  • Others.

Based on Application Type

  • Automotive
    • Upper Front-End Module
    • Door Module
    • Service Panel
    • Underbody Shields
    • Running Boards
  • Consumer Goods
  • Aerospace
  • Electronics
  • Constructions
  • Sporting Goods
  • Marine
  • Industrial Goods
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of APAC
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America

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