Long Fiber Thermoplastics Market Report
LFT Market is Segmented by End-Use Industry (Automotive, Consumer Goods, Sporting Goods, Industrial Goods, and Others), by Reinforcement Type (Glass Fiber LFT and Other LFTs), by Resin Type (Polypropylene, Polyamide, Polybutylene Terephthalate, PEEK/PEKK, and Others), by Material Form (LFRT and D-LFT), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
LFT Market is Segmented by End-Use Industry (Automotive, Consumer Goods, Sporting Goods, Industrial Goods, and Others), by Reinforcement Type (Glass Fiber LFT and Other LFTs), by Resin Type (Polypropylene, Polyamide, Polybutylene Terephthalate, PEEK/PEKK, and Others), by Material Form...
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.
Long fiber thermoplastic (LFT) is the category of composite materials based on thermoplastic resin system and reinforced with long discontinuous fibers. They are typically used to make parts through the injection or compression molding process.
In 2020, the wrath of 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 by the COVID-19 pandemic is expected to start from 2021. It is anticipated that the market will cross its 2019-sales figure in 2022 only, marking a consistent growth during the forecast period. Overall, the LFT market is likely to rebound at a promising CAGR of 4.4% in the long run to reach US$ 1,353 Million in 2026.
Based on the 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.
Based on the resin type, the market is segmented as polypropylene, polyamide, polybutylene terephthalate, PEEK/PEKK, and others. PP-LFTs held the dominance in 2020 and is expected to maintain their 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.
In terms of regions, Europe is expected to remain the largest market for LFTs during the forecast period. Europe is the home for 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 growth during the forecast period driven by China, Japan, and India. China was one of the markets that experienced an excellent recovery amid the pandemic.
The following are the key players in the LFT market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s LFT market realities and future market possibilities for the forecast period of 2021 to 2026. 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 1000 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 the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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:
The LFT market is segmented into the following categories.
LFT Market, by End-Use Industry
LFT Market, by Material Form Type
LFT Market, by Reinforcement Type
LFT Market, by Resin Type
LFT Market, by Region
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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.
The LFT market is estimated to grow at a CAGR of 3.3% during 2021-2026.
SABIC, Celanese, Chisso, and Technocompound are the leading players in the LFT market.
Europe is estimated to remain dominant in the LFT market in the foreseen future.
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