Short Fiber Thermoplastic Market Size, Share, & Growth Analysis

Q: What would be the growth of the short fiber thermoplastic market in the coming five years

The SFT market is estimated to grow at a healthy CAGR of 54 value basis over the next five years Continuous rise in the penetration of SFTs in major markets especially automotive coupled with the expected recovery of the major markets in the post pandemic market developments is expected to drive the growth of the market in the coming five years

Q: Who are the key players in the short fiber thermoplastic market

BASF SE DSM NV The Dow Chemical Company SABIC and LANXESS AG are some of the key players in the market

Q: Which region is estimated to be dominant in the market in the coming years

Asia Pacific is estimated to be dominant in the SFT market in the coming years High production of automobiles electrical electronic products and consumer goods products paired with the fair penetration of composite materials are the key factors behind the huge dominance of Asia Pacific in the market

Q: Which region is estimated to grow at the fastest pace in the market in the coming years

Asia Pacific is also estimated to grow at the fastest rate in the coming five years owing to the increasing auto manufacturing an incessant shift of global electrical electronic products in key Asian economies and higher production of consumer durables China Japan and India are likely to remain the biggest markets for SFTs in the region

Q: Which resin type is estimated to remain dominant in the market in the coming years

PA Polyamide is likely to maintain its dominance in the market in the next five years on account of its high temperature and electrical resistant properties and widespread usage in end use industries

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Report Summary

Table of contents

Market Highlights

The short fiber thermoplastic market is likely to grow at a CAGR of 5.4% during 2022-2027 to reach USD 18 billion in 2027.

Short-Fiber-Thermoplastic-Market-Insights

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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.

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 electrical & electronics.

Segments Analysis

Segmentations	List of Sub-Segments	Segments with High Growth Opportunity
End-Use Industry Type Analysis	Transportation, Consumer Goods, Electrical & Electronics, Construction, and Others	Transportation segment accounted for the largest market share during the forecast period.
Resin Type Analysis	PP, PA, PBT, PPS, PC, and Others	PA segment accounted for the largest market share during the forecast period.
Regional Analysis	North America, Europe, Asia-Pacific, and Rest of the World	Asia-Pacific accounted for the largest market share during the forecast period.

By End-use Industry Type

"Transportation segment accounted for the largest market share during the forecast period"

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 foreseeable 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.

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By Resin Type

"PA segment accounted for the largest market share during the forecast period"

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 Insights

"Asia-Pacific accounted for the largest market share during the forecast period"

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.

Short-Fiber-Thermoplastic-Market-Regional-Analysis

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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

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

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 market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
COVID-19 impact and its recovery curve
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The short fiber thermoplastic market is segmented into the following categories:

By End-Use Industry Type

Transportation
Consumer Goods
Electrical & Electronics
Construction
Others

By Fiber Type

Glass Fiber SFTs
Other SFTs

By Resin Type

PP
PA
PBT
PPS
PC
Others

By Region

North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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 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)
SWOT analysis of key players (up to three players)

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 the 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 to sales@Stratviewresearch.com

Frequently Asked Questions (FAQs)

What would be the growth of the short fiber thermoplastic market in the coming five years?

The SFT market is estimated to grow at a healthy CAGR of 5.4% (value basis) over the next five years. Continuous rise in the penetration of SFTs in major markets, especially automotive, coupled with the expected recovery of the major markets in the post-pandemic market developments is expected to drive the growth of the market in the coming five years.

Who are the key players in the short fiber thermoplastic market?

BASF SE, DSM N.V., The Dow Chemical Company, SABIC, and LANXESS AG are some of the key players in the market.

Which region is estimated to be dominant in the market in the coming years?

Asia-Pacific is estimated to be dominant in the SFT market in the coming years. High production of automobiles, electrical & electronic products, and consumer goods products paired with the fair penetration of composite materials are the key factors behind the huge dominance of Asia-Pacific in the market.

Which region is estimated to grow at the fastest pace in the market in the coming years?

Asia-Pacific is also estimated to grow at the fastest rate in the coming five years, owing to the increasing auto manufacturing, an incessant shift of global electrical & electronic products in key Asian economies, and higher production of consumer durables. China, Japan, and India are likely to remain the biggest markets for SFTs in the region.

Which resin type is estimated to remain dominant in the market in the coming years?

PA (Polyamide) is likely to maintain its dominance in the market in the next five years on account of its high temperature and electrical-resistant properties, and widespread usage in end-use industries.

Which end-use industry type is estimated to remain dominant in the market in the coming years?

Transportation is expected to remain the biggest market for SFTs in the coming years, owing to the rising demand for lightweight and low-cost materials for series production.

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