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    Thermoplastic Resin Market In Composites Industry

    Thermoplastic Resin Market In Composites Industry
    Report code - SRAM144 Published On : Jul,2019 No. of Pages: 284

    Thermoplastic Resin Market in the Composites Industry by Res See more...

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    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 Global Thermoplastic Resin Market in the Composites Industry: Highlights

    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. 

    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.

    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. 

    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.

    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. 

    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. 

    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 the key suppliers of thermoplastic resins to the composites industry. 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

    This report offers high-quality insights and is 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. More than 1,500 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions have been conducted and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter 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

    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)                                                                                  

    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].


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