Thermoplastic Composites Market by Product, End-user, Resin Type, Fiber Type, and Geography - Forecast and Analysis 2020-2024

The thermoplastic composites market size has the potential to grow by USD 5.93 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This thermoplastic composites market research report analyzes the market’s competitive landscape and offers information on several market vendors, including Arkema SA, BASF SE, Celanese Corp., Covestro AG, Koninklijke DSM NV, LANXESS AG, Polyone Corp., SGL Carbon SE, Solvay SA, and Toray Industries Inc. Also, the report provides a detailed analysis of the market by end-user (aerospace and defense, consumer goods and electronics, automotive, construction, wind energy, and other end-users), product (short fiber thermoplastics, long fiber thermoplastics, continuous fiber thermoplastics, and glass mat thermoplastics), resin type (polyamide, polypropelene, polytheretherketone, hybrid and others), fiber type (glass fiber, carbon fiber, mineral fiber, and others), and geography (APAC, Europe, MEA, North America, and South America).

Statistical Analysis of Thermoplastic Composites Market

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Market Competitive Analysis

The thermoplastic composites market is fragmented, and the degree of fragmentation will remain the same during the forecast period. The key players in the market are focusing on various growth strategies, such as product innovation, to increase their customer base. For instance, the market is recording increased production of fiber-reinforced composite materials, which are widely being used in the medical sector to make orthotic and prosthetic devices. Polyone Corp., SGL Carbon SE, Solvay SA, and Toray Industries Inc. are some of the major market participants.

The accelerating growth momentum will offer immense growth opportunities to market vendors. However, challenges such as fluctuating crude oil prices will impede the growth of the market participants. To boost the thermoplastic composites market demand, vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

This thermoplastic composites market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies which will help clients improve their market positions. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this report also includes information on the upcoming thermoplastic composites market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This thermoplastic composites market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:

• Arkema SA
• BASF SE
• Celanese Corp.
• Covestro AG
• Koninklijke DSM NV
• LANXESS AG
• Polyone Corp.
• SGL Carbon SE
• Solvay SA
• Toray Industries Inc

Thermoplastic Composites Market: Segmentation by Region

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APAC was the largest market for thermoplastic composites in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. The increasing use of thermoplastic composites in manufacturing automotive body parts and rising automotive production are some of the significant factors fueling the thermoplastic composites market growth in the region.

Almost 50% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets of thermoplastic composites in APAC. Market growth in this region will be faster than the growth of the market in other geographies.

Thermoplastic Composites Market: Segmentation by End-user

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Thermoplastic composites are lightweight and heat-resistant, have high strength, and are durable. As a result, they are widely used across industries, especially in the aerospace and defense sector, in the form of glass fiber, carbon fiber, and mineral fiber. Thermoplastic composites are used in commercial aircraft to reduce weight and the cost of manufacturing and increase fuel efficiency. Thus, rising investments in the aerospace sector will increase the demand for thermoplastic composites during the forecast period.

However, the market growth by the aerospace and defense segment will be slower than the growth of the market by the consumer and electronics segment. This report provides an accurate prediction of the contribution of all the thermoplastic composites market segmentation.

Thermoplastic Composites Market Dynamics

Various types of PAs are used in applications such as automotive, aerospace, consumer goods, industrial machinery, coatings, consumer goods, lysine synthesis, fishing instruments, and surgical sutures. Polyamide (PA) is useful for a wide range of applications, which require plastic materials with a high melting temperature. It is a highly flexible material that can be combined with different materials. Moreover, the low friction of PA allows its use in many large-volume standard products, such as gears, bushings, and plastic bearings. Also, applications that undergo a lot of wear and tear prefer PAs to other engineered plastics. The automotive and electrical and electronics sectors are the major end-users of PAs owing to the above-mentioned beneficial features. Therefore, the growing end-user industries will drive the thermoplastic composites market growth during the forecast period.

• The development of polymer composite materials in recent years has led to technological advances across a wide range of applications in modern orthopedic medicine and prosthetic devices.
• Composites exhibit superior strength compared with monolithic materials and offer excellent biocompatibility. Therefore, composites are favorable for both hard- and soft-tissue applications, as well as for the design of prostheses.
• Fiber-reinforced polymer composites are being widely used in the medical sector to make orthotic and prosthetic devices and components for large-scale MRI equipment.
• Fiber-reinforced polymer composites have unique advantages such as excellent fatigue characteristics, radiolucency, and high strength-to-weight ratios.
• The increasing demand for fiber-reinforced polymer composites in medical applications is one of the vital thermoplastic composites market trends. 
• During 2020-2024, the thermoplastic composites market size will grow at a CAGR of over 6%.

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Key Highlights of the Thermoplastic Composites Market Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the thermoplastic composites market growth during the next five years
• Precise estimation of the thermoplastic composites market size and its contribution to the parent market
• Thermoplastic composites market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
• Estimation of potential opportunity for thermoplastic composites market by product, end-user, resin type, fiber type, and geographic segments
• Identification of key countries across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors 
• Comprehensive details of factors that will challenge the growth of thermoplastic composites vendors

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