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    Thermoplastic Resin Market In Composites Industry Report

    Thermoplastic Resin Market In Composites Industry Report
    Report code - SRAM144 Published On : Jul,2019 No. of Pages: 284
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    Thermoplastic Resin Market in the Composites Industry: Size, Share, Trend, Forecast, & See more...

    Impact of COVID-19 on Thermoplastic Resin Market In Composites Industry

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Thermoplastic Resin Market In Composites Industry

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The global thermoplastic resin market in the composites industry is projected to reach US$ 15.2 billion in 2024 and offers favorable growth opportunities in the entire ecosystem of the market. Increasing automobile production, development of new composite applications using thermoplastic composites, rising demand for sustainable (recycling) and fast-curing materials, increasing demand for lightweight components to address stringent regulations such as CAFÉ Standards, and increasing penetration of composite materials by replacing metals are the key factors that are bolstering the demand for thermoplastic resins in the composites industry.       

    Segments' Analysis

    Thermoplastic Resin Market Share by Resin Type

    The thermoplastic resin market in the composites industry is segmented based on the resin type as Polypropylene, Polyamide, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, and Other Resins. Polyamide is expected to remain the most dominant resin type in the market during the forecast period. This resin is most widely used in short fiber-reinforced thermoplastic (SFRT) applications.

    Thermoplastic Resin Market Share by Compound Type

    Based on the compound type, the thermoplastic resins are used in short fiber-reinforced thermoplastics (SFRTs), long fiber-reinforced thermoplastics (LFRTs), glass mat thermoplastics, and continuous fiber-reinforced thermoplastics (CFRTs). SFRT generates the highest demand for thermoplastic resins and is forecasted to remain the largest compound type during the forecast period. SFRT is the most dominant compound type in all the major end-use industries including transportation, consumer goods, and electrical & electronics. CFRT and LFRT are relatively small segments but are gaining market tractions by registering an increased acceptance in the automotive and aerospace & defense industries.

    Thermoplastic Resin Market Share by End-use Industry Type

    Based on the end-use industry type, the market is segmented into transportation, consumer goods, electrical & electronics, and others. Transportation is projected to remain the largest market for thermoplastic resins in the composites industry during the forecast period. This segment is the second-largest composites market (thermoset + thermoplastic) after building & construction. The segment is also likely to witness the highest growth over the next five years, driven by stringent government regulations, such as CAFÉ Standards and EU’s directive on carbon emission reductions. All the major automakers are forming strategic alliances with the composite material suppliers to develop advanced thermoplastic composites that can fabricate parts in less than five minutes and offer significant weight savings. They are increasingly incorporating advanced materials including composites in the structural and semi-structural applications of their vehicles by replacing traditional metals, such as steel.

    Thermoplastic Resin Market Share by Composite Type

    Based on the composite type, glass-fiber-reinforced plastic (GFRP) generates the highest demand for thermoplastic resins and is expected to remain the largest composite type during the forecast period. GFRP dominates in all the major end-use industries, such as transportation, electrical & electronics, and consumer goods. Carbon fiber-reinforced plastic (CFRP) is likely to witness the highest growth during the same period, propelled by its excellent properties at a relatively lower weight.

    Regional Insights

    In terms of region, Asia-Pacific is expected to remain the largest and the fastest-growing thermoplastic resin market in the composites industry during the forecast period. High production of automobiles, continuous shift of electronic industry from the developed economies to the developing Asian economies, and increasing penetration of composites are major growth drivers of the thermoplastic resin market in the Asia-Pacific’s composites industry. 

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2013-2024

    Regions Covered            

    North America, Europe, Asia-Pacific, Rest of the World

    Size in 2024

    US$ 15.2 billion

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, the UK, Russia, China, Japan, India, The Middle East, Latin America and others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented into the following categories:

    Thermoplastic Resin Market in the Composites Industry by Resin Type:

    • Polypropylene (PP) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyamide (PA) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polybutylene Terephthalate (PBT) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyphenylene Sulfide (PPS) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polycarbonate (PC) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Other Resins (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Thermoplastic Resin Market in the Composites Industry by Compound Type:

    • Short Fiber-Reinforced Thermoplastics (SFRTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Long Fiber-Reinforced Thermoplastics (LFRTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Continuous Fiber-Reinforced Thermoplastics (CFRTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Glass-Mat Thermoplastics (GMTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Thermoplastic Resin Market in the Composites Industry by End-Use Industry Type:

    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Thermoplastic Resin Market in the Composites Industry by Composite Type:

    • Glass Fiber-Reinforced Plastics (GFRPs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Carbon Fiber-Reinforced Plastics (CFRPs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Thermoplastic Resin Market in the Composites Industry by Manufacturing Process Type:

    • Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Thermoplastic Resin Market in the Composites Industry by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the world (Country Analysis: The Middle East, Latin America, and Others)

    Key Players

    Some of the key suppliers of thermoplastic resins to the composites industry are-

    • BASF SE
    • E. I. du Pont de Nemours and Company
    • Koninklijke DSM N.V.
    • Solvay S.A.
    • Lanxess
    • LyondellBasell Industries N.V.
    • SABIC

    Most of the players are forward integrated and supply reinforced compounds. New product development, wide geographical reach, and execution of mergers & acquisitions are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    This report, from Stratview Research, studies the thermoplastic resin market in the composites industry over the trend period 2013 to 2018 and the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of key market players (up to 3 players)
    • SWOT analysis of key market players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the compounds by resin type  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The thermoplastic resin market size is expected to reach US$ 15.2 billion in the foreseeable future.

    BASF SE, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Solvay S.A., Lanxess, LyondellBasell Industries N.V., and SABIC are among the key players in the thermoplastic resin market.

    Asia-pacific is expected to remain the largest thermoplastic resin market during the forecast period.

    Glass-fiber-reinforced plastic is expected to remain the largest composite type in the thermoplastic resin market in the coming years.

    Transportation is expected to be the largest thermoplastic resin market during the next five years.

    Increasing automobile production, development of new composite applications using thermoplastic composites, rising demand for sustainable (recycling) and fast-curing materials are the factors driving the growth of thermoplastic resin market.

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