Long Fiber Thermoplastics Market Growth Analysis | 2022-2027

Market Insights

The Long Fiber Thermoplastics Market was estimated at USD $1,057.7 Million in 2022 and is likely to grow at a CAGR of 6% from 2022-2027 to reach USD $1,555.7 Million in 2027.

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Covid impact on this market

In 2020, the wrath of the pandemic hit hard all the major industries including automotive, consumer goods, sporting goods, and industrial equipment. The LFT market could not escape from such a distressing scenario and logged a massive decline of -12% in 2020 amid the pandemic. However; the industry stakeholders are expecting a quick recovery in some regional markets. The recovery from the disruption brought on by the COVID-19 pandemic is expected to start in 2021. It is anticipated that the market will cross its 2019 sales figure in 2022 only, marking consistent growth during the forecast period.

Drivers

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• The market growth is attributed to the rising demand for lightweight and high-performance solutions for various end-use industries.
• Automotive is the major end-use industry in the market.

What are Long Fiber Thermoplastics?

Long fiber thermoplastics are molding items that have continuous fiber filaments. These materials are high in stiffness and strength and have high resistance to high temperatures. Long fiber thermoplastics can be of different resins such as polypropylene, polyamide, polybutylene terephthalate, and others. Automotive, consumer goods, sporting goods, industrial goods, and others are the application areas where these materials are used.

Key Players

The following are the key players in the market.

• SABIC
• Chisso
• Celanese
• Technocompound

Segments Analysis

By End-use industry

The LFT market is segmented as automotive, consumer goods, sporting goods, industrial goods, and others. Automotive is expected to remain the largest and the fastest-growing segment in the market during the forecast period, owing to the increasing focus of automobile manufacturers towards fuel efficiency which can be attained through higher penetration of lightweight materials such as composites. The automotive industry is the biggest user of compounds including SFT, LFT, SMC, and other reinforced compounds.

By Resin type

The market is segmented as polypropylene, polyamide, polybutylene terephthalate, PEEK/PEKK, and others. PP LFT held dominance with more than 50% share in 2021 and is expected to maintain its position over the next five years as well. PP resin is comparatively cheap than other resin systems; thus, molders and OEMs in coordination with material suppliers are trying to enhance the performance of PP-LFTs to replace other resin system-based LFTs.

By Region

Europe held >35% of the share in 2021. Europe is the home of leading automotive OEMs, tier players, and LFT manufacturers. Germany and Belgium are the manufacturing capitals of LFTs in the region. Asia Pacific is expected to witness the highest CAGR of 7.6% during 2022-2027 driven by China, Japan, and India. China was one of the markets that experienced an excellent recovery amid the pandemic.

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Segmentation

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

The market is segmented in the following ways:

The LFT market is segmented into the following categories. 

 By End-Use Industry

• Automotive 
• Consumer Goods 
• Sporting Goods 
• Industrial Goods 
• Others 

By Material Form Type

• LFRT 
• D-LFT 

By Reinforcement Type

• Glass Fiber LFT 
• Other LFTs 

By Resin Type

• Polypropylene 
• Polyamide 
• Polybutylene Terephthalate 
• PEEK/PEKK 
• Others 

By Region

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, the UK, Spain, Italy, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Malaysia, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil and South Africa)

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Research Methodology

• 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 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides 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 dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated opportunities
• Emerging trends
• Growing opportunities for the existing and new players
• Key success factor

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