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  • Global Thermoplastic Resin Market in the Composites Industry Likely to Grow at 6.1% CAGR During 2018 to 2023

    Stratview Research | 2017-06-12

    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. 

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    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.

    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 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:

    • 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, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    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:

    • Polypropylene (PP) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Polyamide (PA) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Polybutylene Terephthalate (PBT) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Polyphenylene Sulfide (PPS) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Polycarbonate (PC) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Other Resins (Regional Analysis: NA, Europe, APAC, and RoW) 

    Global Thermoplastic Resin Market in the Composites Industry by Compound Type:

    • Short Fiber Thermoplastic (SFT) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Long Fiber Thermoplastic (LFT) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Continuous Fiber Thermoplastic (CFT) (Regional Analysis: NA, Europe, APAC, and RoW)
    • Glass Mat Thermoplastic (GMT) (Regional Analysis: NA, Europe, APAC, and RoW) 

    Global Thermoplastic Resin Market in the Composites Industry by End-Use Industry Type:

    • Transportation (Regional Analysis: NA, Europe, APAC, and RoW)
    • Consumer Goods (Regional Analysis: NA, Europe, APAC, and RoW)
    • Electrical & Electronic (Regional Analysis: NA, Europe, APAC, and RoW)
    • Others (Regional Analysis: NA, Europe, APAC, and RoW) 

    Global Thermoplastic Resin Market in the Composites Industry by Composite Type:

    • Glass Fiber-Reinforced Plastics (Regional Analysis: NA, Europe, APAC, and RoW)
    • Carbon Fiber-Reinforced Plastics (Regional Analysis: NA, Europe, APAC, and RoW) 

    Global Thermoplastic Resin Market in the Composites Industry by Manufacturing Process Type:

    • Injection Molding (Regional Analysis: NA, Europe, APAC, and RoW)
    • Compression Molding (Regional Analysis: NA, Europe, APAC, and RoW)
    • Others (Regional Analysis: NA, Europe, APAC, and RoW) 

    Global Thermoplastic Resin Market in the Composites Industry by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of the Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the world (Country Analysis: Middle East, Latin America, and Others)             

    Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:

    Click Here for Other Reports from Stratview Research in the Composites Industry

    Related premium market reports in the advanced materials industry are:

    Global Composite Process Materials Market by End-Use Industry Type, by Material Type, by Application Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017- 2022

    Global Composite Preforms Market by Application Segment, by Fiber Type, by Product Type, by Structure Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 – 2021

    About Stratview Research

    Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

    We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

    Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. 

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