Market Highlights
The Short Fiber Thermoplastic (SFT) Market is expected to grow at a promising CAGR of 5.4% (value basis) to reach a benchmark figure of US$ 18 billion by 2027.
Adding short fibers to thermoplastic resin improves the composite’s performance for lightweight applications. These materials are known as short-fiber thermoplastics (SFTs). Lightweight, low manufacturing cost with a high-volume production rate and the capability to be molded in complex geometries are the main characteristics of SFTs. In addition, SFTs are easier and cheaper to produce than continuous fiber-reinforced composites. This difference between cost and performance allows SFTs to be used in numerous applications.
Covid-19 Impact
The global SFT market suffered a significant decline of 5.6% (value basis) and 7.7% (volume basis) in 2020 due to the global economic recession led by the COVID-19 pandemic. Most of the end-use industries faced supply chain disruption, cash flow constraints, and temporary shutdowns in production facilities leading to reduced demand for SFTs.
Further, the ongoing shortage of semiconductor chips has significantly dented light vehicle production (volume loss of 9.6 million units in 2021), which, in turn, hampered the growth of the SFT market in the transportation industry, the biggest consumer of SFTs. However, the market is getting back on track with Omicron's worries deteriorating and improving demand from the major end-use industries such as automotive, consumer goods, and electricals & electronics.
Segments Analysis
By End-use Industry type
The market is classified into transportation, consumer goods, electrical & electronics, construction, and others. Transportation is likely to remain the key demand generator for SFTs in the foreseen future. The industry is further classified into the air intake manifold, radiator end caps, air cooler end caps, engine covers/cam covers, connectors, switches, and others. Among these, the air intake manifold captures the maximum share and is estimated to remain the key application of SFTs in the transportation industry in the foreseen future. Construction, a relatively small market for SFTs, is expected to witness the highest growth in both, value, and volume, over the forecast period.
By Resin type
The market is segmented into PP (polypropylene), PA (Polyamide), PBT (polybutylene terephthalate), PPS (Polyphenylene sulfide), PC (Polycarbonate Resin), and others. PA resin is expected to remain the most preferred resin type in the SFT market during the forecast period. PA resin offers high temperature and electrical resistance and is widely used in transportation and consumer goods applications. Some commonly used polyamides are PA11, PA12, PA46, PA6, and PA66.
Regional Analysis
Asia-Pacific is expected to remain the largest as well as the fastest-growing market (value & volume) for SFTs over the forecast period on account of the growing acceptance of lightweight parts, a gradual shift of manufacturing base in a few Asian countries, especially China, and India, and presence of several SFT suppliers (both international as well as domestic) in the region. China is the biggest market for SFTs in the region and continues to outpace the global market growth. On the other hand, India is a relatively small market but represents humongous growth opportunities for the market participants in the post-pandemic market developments.
Key Players
SFT is a unique business with the presence of several companies. Almost, all the companies that are in the thermoplastic business are also participating in the SFT business. The following are some of the key players in the SFT market:
- BASF SE
- DSM N.V.
- The Dow Chemical Company
- SABIC
- LANXESS AG
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s short fiber thermoplastic (SFT) market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a 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 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and 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.
What Deliverables Will You Get in this Report?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Short Fiber Thermoplastic (SFT) Market
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How lucrative is the future?
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Market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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Drivers & challenges
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10% free customization
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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 additional market players (up to three players)
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Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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