Aug 24, 2023   SOURCE: BusinessWire

Global Thermoplastic Composites Market Projected to Reach $33.0 Billion by 2028, Growing at a CAGR of 5.1% - ResearchAndMarkets.com

The "Thermoplastic Composites Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global thermoplastic composites market is expected to experience significant growth, reaching an estimated value of $33.0 billion by 2028 with a compound annual growth rate (CAGR) of 5.1% from 2022 to 2028.

The future of the thermoplastic composites market appears promising, driven by opportunities in the transportation, consumer goods, industrial, and construction sectors. Key factors contributing to market expansion include the rising demand for lightweight and environmentally sustainable materials, along with the replacement of metals by composites across various industries.

Emerging Trends in the Thermoplastic Composites Market

The report highlights emerging trends with a direct impact on industry dynamics, including increasing inter-material competition and a growing focus on continuous fiber reinforced thermoplastic composites.

Market Segmentations

The study provides a comprehensive forecast for the global thermoplastic composites market by various segments:

  1. End Use: The transportation sector is expected to remain the largest end-use segment, driven by the demand for lightweight materials.
  2. Material Type: SFT thermoplastic composites are projected to be the largest material segment, primarily used in injection molding part fabrication.
  3. Reinforcement Type: Glass fiber and carbon fiber are key reinforcement types driving the market.
  4. Resin Type: Different resin types, such as Polypropylene (PP), Polyamide (PA), Polybutylene terephthalate (PBT), and others, contribute to market growth.
  5. Region: Asia Pacific is expected to witness the highest growth, driven by increasing demand for environmentally sustainable composite materials.

Key Companies and Competitive Landscape

Companies in the thermoplastic composites market compete based on product quality and focus on expanding manufacturing facilities, R&D investments, infrastructural development, and leveraging integration opportunities across the value chain. Some major players in this market include Tencate Advanced Composites, Cytec Solvay Group, Celanese, SABIC, BASF SE, DSM, DuPont, LANXESS/Bond Laminates, Hanwha Corporation, and RTP Company.

Market Insights

The report provides valuable insights into market dynamics, trends, growth opportunities, and strategic analyses. It includes estimates of market size, trend analysis, segmentation by end use, material type, resin, reinforcement, and region. Additionally, the report analyzes the competitive intensity of the industry using Porter's Five Forces model.

The report addresses key questions, including trends, drivers, challenges, emerging trends, changing customer demands, new developments, major players, competitive strategies, and M&A activities in the thermoplastic composites market.

A selection of Companies mentioned in this report includes

  • Tencate Advanced Composites
  • Cytec Solvay Group
  • Celanese
  • SABIC
  • BASF SE
  • DSM
  • DuPont
  • LANXESS/Bond Laminates
  • Hanwha Corporation
  • RTP Company

     

For more information about this report visit https://www.researchandmarkets.com/r/w5c0s7

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