Stratview Research announces the launch of a new research report on Global Thermoplastic Resin Market in the Composites Industry by Resin Type (PP, PA, PBT, PPS, PC, and Others), by Compound Type (SFT, LFT, GMT, and CFT), by End-Use Industry Type (Transportation, Consumer Goods, Electrical & Electronic, and Others), by Manufacturing Process (Injection Molding, Compression Molding, and Others), by Composite Type (GFRP and CFRP), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This 260-page market report, from Stratview Research, studies the thermoplastic resin market in the global composites industry over the period 2011 to 2022. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Thermoplastic Resin Market in the Global Composites Industry: Highlights
As per Stratview Research, the global thermoplastic resin market in composites industry offers an impressive CAGR of 6.1% during the forecast period of 2018 to 2023 and reach US$ 14,372 million in 2023 , which offers an opportunity to the chemical industry players to align themselves with the market growth.
There are several factors bolstering the growth of thermoplastic resin market in the global composites industry. The author of the report cited organic growth in the automobile production, increasing demand for lightweight components to address stringent regulations such as CAFÉ standards, high demand for sustainable (recycling) and fast-curing materials, development of new applications using thermoplastic composites, and increasing penetration of composite materials by replacing metals as the major growth drivers of the thermoplastic resin market in the composites industry.
In terms of resin type, polyamide (PA) is expected to remain the most dominant resin during the forecast period of 2018 to 2023. It is most widely used in short fiber thermoplastic based applications. However, polyphenylene sulfide (PPS) is likely to witness the highest growth over the next five years, driven by an increasing usage of thermoplastic composites in the aerospace & defense and automotive industries.
Based on compound type, short fiber thermoplastic (SFT) generates the highest demand for thermoplastic resins and is expected to remain the largest compound type during the forecast period. CFT and LFT are gaining market traction in the composites industry and are also increasingly being accepted in the automotive industry.
As per the report, transportation is projected to remain the largest market for thermoplastic resin in the composites industry during the forecast period and is also likely to witness the highest growth in the same period, driven by stringent government regulations. All the major automakers are increasingly incorporating advanced materials including composites in the structural and semi-structural applications of their vehicles by replacing traditional metals, such as steel.
In terms of region, Asia-Pacific is expected to remain the largest and the fastest-growing market for thermoplastic resins 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 the major growth drivers of thermoplastic resin market in the Asia-Pacific’s composites industry.
Solvay S.A., BASF SE, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., LyondellBasell Industries N.V., and SABIC are the key suppliers of thermoplastic resins in the composites industry. Most of the players are forward integrated and supply reinforced compounds as well. New product development, wide geographical reach, and vast product portfolio are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.
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 on 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:
This report studies the thermoplastic resin market in the global composites industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the six ways in which the market is segmented:
Global Thermoplastic Resin Market in the Composites Industry by Resin Type:
Global Thermoplastic Resin Market in the Composites Industry by Compound Type:
Global Thermoplastic Resin Market in the Composites Industry by End-Use Industry Type:
Global Thermoplastic Resin Market in the Composites Industry by Composite Type:
Global Thermoplastic Resin Market in the Composites Industry by Manufacturing Process Type:
Global Thermoplastic Resin Market in the Composites Industry by Region:
Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:
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