Thermoplastic Composites Market Research Report- Forecast to 2030

Thermoplastic Composites Market by Product Type (Short Fiber Reinforced Thermoplastic (SFRT), Long Fiber Reinforced Thermoplastic (LFRT), Continuous Fiber Reinforced Thermoplastic (CFRT), and Glass Mat Thermoplastics (GMT)), by Fiber Type (Fiberglass and Carbon Fiber), End Use Industries (Aerospace & Defense, Wind Energy, Automotive, Building & Construction, Sports, Electrical & Electronics and others), and by Region- Forecast till 2030

ID: MRFR/CnM/2891-HCR | February 2021 | Region: Global | 140 pages

Thermoplastic Composites Market Overview


The Thermoplastic Composites Market was marked at a value of USD 22.2 billion in 2020 and it is further expected to grow at a higher CAGR of 7.5% during the forecasted period to account for a higher market value of approximately USD 31.8 billion by the end of the forecasted period.


The polymer that becomes pliable and moldable when heated at a specific temperature and upon cooling it solidifies is called thermoplastic. It is also known by the other name called thermo-softening plastic. These polymers have qualities of both aluminum as well as rubber. It can be as hard as aluminum and at the same time soft like rubber. Moreover, these polymers are abrasion-resistant, lightweight, and can stand up to a temperature of 600° F. These polymers are manufactured with the combination of two or more two materials possessing different chemical and physical properties. This enables the polymers to have different characteristics.


COVID 19 Analysis


The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is worried about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted which resulted in demand shrink for the Thermoplastic composites market which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.


However, the Thermoplastic Composites Market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.


Market Dynamics


Drivers


Numerous factors drive the market demand in the global market. Increasing demand for Thermoplastic Composites in the transportation industry drives the market demand all across the globe during the forecasted period. As it results in lower emission of CO2 and ensures the efficiency of vehicles. It also increases the shelf life of the vehicles. Increasing use of these composites in high-performance vehicles components like under-hood components, appearance grade components, roof components, door modules, front and end modules, and instrumental panels drive the market demand in the Thermoplastic Composites Market.


Opportunities


The rise in the demand for the thermoplastic composites market all across the globe. The increasing investment made by various individuals and governments for the construction of commercial buildings creates various growth opportunities in the Thermoplastic Composites Market during the review period. Moreover, the increasing need for these polymers results in more investment done by major key players to cater to the increasing diversity among various end-use industries. Ongoing extensive research in this sector provides various growth opportunities in the global market during the review period.


Restraints


Although the Thermoplastic Composites Market is increasing tremendously in the global market some factors restrict the market growth rate. Lack of standardization among different manufacturing technology is one of the major restraining factors that hamper the market growth rate. The high cost of raw materials results in a high price for thermoplastic composites and hence it can’t be afforded by all which hinders the market demand.


Value Chain Analysis


The Thermoplastic Composites Market is increasing incredibly at the global level owing to various benefits associated with it. It has various properties like low manufacturing cost, low processing, and good insulation properties that make it better than metals. Along with this, it is weather and heat resistant, lightweight, and stronger due to which is used in several end-user industries.


Thermoplastic Composite Market Share, by End Use Industry 2016 (%)


 Thermoplastic Composite Market Share, by End Use Industry 2016 (%)


 


Market Segmentation


The Thermoplastic Composites Market has been divided all across the globe based on Fiber Type, Product Type, End-User Type, and Region.


Based on the Fiber Type


The Thermoplastic Composites Market has been divided all across the globe based on the Fiber Type into carbon fiber and fiberglass. The largest market share is held by the glass fiber or fiberglass-based thermoplastic composite material and hence it dominates in the global market.


Based on the Product Type


The Thermoplastic Composites Market has been divided all across the globe based on the Product Type into glass mat thermoplastic (GMT), continuous fiber-reinforced thermoplastic (CFRT), long fiber reinforced thermoplastic (LFRT), and short fiber reinforced thermoplastic (SFRT).


Based on the End-User Industry


The Thermoplastic Composites Market has been divided all across the globe based on the End-User Industry like sports industry, building, and construction industry, automotive industry, wind energy sector, aerospace and defense sector, and many others. The largest market share is held by the aerospace and defense industry and hence it dominates in the global market.


Based on the Region


The Thermoplastic Composites Market has been divided in the global market based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The Thermoplastic Composites Market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-growing region, the largest market share in the global market is held by the Asia-Pacific region owing to increasing development in the wind industry, and aerospace and defense industry. Moreover, the presence of countries like Japan, India, and China is yet another contributing factor that drives the market demand in this region.


The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico as they have a well-established advanced infrastructure for the sports industry, aerospace and defense industry, and many other end-user industries. Increasing military activities and power in the US is also a contributing factor.


The third-largest market share in the global market is held by the European region owing to the presence of countries like Italy, Germany, France, and the UK. The increasing use of thermoplastic composites in the automotive and aerospace industries drives the market demand in this region.


Competitive Landscape


The Most Prominent Major Key Players in the Thermoplastic Composites Market all across the globe are mentioned below:



  • BASF SE (Germany)

  • LANXESS (Germany)

  • TEIJIN LIMITED (Japan)

  • SABIC (Saudi Arabia)

  • Koninklijke Ten Cate B.V. (the Netherlands)

  • DSM N.V. (the Netherlands)

  • Celanese Corporation (US)

  • SGL Carbon SE (Germany)

  • Arkema Group (France)

  • DuPont (US)


These major key players use various strategies to sustain their market position in the Thermoplastic Composites Market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the Thermoplastic composites all across the globe.


Recent Developments



  • In April 2018, a new production facility in Yeosu, Korea has been inaugurated by BASF SE. This will help the company in increasing production up to 24,000 tons per year in the polyarylsulfone thermoplastic Ultrason.

  • In November 2018, two new grades called glass-fiber-reinforced polyamide and carbon fiber-reinforced polyamide has been introduced by DowDuPont. This will help in implementing 3D printing filament as the demand for 3D printing is growing rapidly in the global market.

  • In June 2019, for enhancing technological advancements, Advanced Polymer Technologies (US) has been acquired by Mitsubishi Advanced Chemical Materials in the engineering plastics business. It will help the company in providing better solutions for the electrical and electronics industries, medical sector, aerospace, and defense sector.

  • TEIJIN LIMITED (Japan) is spending a huge sum of money on research and development to get an upper edge over its competitors. This will help the company in increasing its sales revenue.


Report Overview


This Thermoplastic Composites Market Research Report consists of the following elements mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This market research report contains factors that drive the growth of the Thermoplastic Composites market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the market during the forecasted period are mentioned. The impact of COVID 19 on the market all across the globe is mentioned. The future growth rate in the Thermoplastic Composites market during the forecasted period is estimated and mentioned.


Intended Audience


Nationalized laboratory, raw material suppliers, potential investors, research and development institutes, traders and distributors of thermoplastic composites, thermoplastic composites manufacturers, and many others.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   (2022-2030) : Substantial Value
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Fiber Type and End use industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   DuPont (U.S.), Arkema Group (France), SGL Carbon SE (Germany), Celanese Corporation (U.S.), DSM N.V. (Netherlands), Koninklijke Ten Cate bv. (Netherlands), SABIC (Saudi Aarbia), TEIJIN LIMITED (Japan), LANXESS (Germany), BASF SE (Germany)
  Key Market Opportunities   heavily investing in production of thermoplastic composites to meet increasing demand from diverse end use industries
  Key Market Drivers   Rising investments in the construction of commercial buildings.


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Frequently Asked Questions (FAQ) :


Aerospace & defense and wind energy are the major end-use industries of thermoplastic composites.

Asia Pacific accounts for the largest share in the global thermoplastic composites market. The region is anticipated to retain its dominance throughout the assessment period (2017-2023).

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global thermoplastic composites market adopt to gain a larger competitive advantage.

Arkema Group (France), DuPont (US), SGL Carbon SE (Germany), DSM NV (Netherlands), Celanese Corporation (US), Koninklijke Ten Cate BV (Netherlands), TEIJIN LIMITED (Japan), SABIC (Saudi Arabia), LANXESS (Germany), and BASF SE (Germany), are some of the leading players in the global thermoplastic composites market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Thermoplastic Composites Market

5 Industry Overview of Global Thermoplastic Composites Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

5.5 Impact analysis

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Thermoplastic Composites Market by Region

8. Global Thermoplastic Composites Market by product type (short fiber reinforced thermoplastic (SFRT), long fiber reinforced thermoplastic (LFRT), continuous fiber reinforced thermoplastic (CFRT), and glass mat thermoplastics (GMT))

9. Global Thermoplastic Composites Market by fiber type (fiberglass and carbon fiber)

10. Global Thermoplastic Composites Market by end use industries (aerospace & defense, wind energy, automotive, building & construction, sports, electrical & electronics and others)

11. Company Landscape

12. Company Profiles

12.1 DuPont

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 Arkema Group

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 SGL Carbon SE

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 Celanese Corporation

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 DSM N.V.

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 Koninklijke Ten Cate bv.

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 SABIC

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 TEIJIN LIMITED

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 LANXESS

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 BASF SE

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

13 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2020-2027)

Table 2 Global Thermoplastic Composites Market: By Region, 2020-2027

Table 3 North America Thermoplastic Composites Market: By Country, 2020-2027

Table 4 Europe Thermoplastic Composites Market: By Country, 2020-2027

Table 5 Asia-Pacific Thermoplastic Composites Market: By Country, 2020-2027

Table 6 Middle East & Africa Thermoplastic Composites Market: By Country, 2020-2027

Table 7 Latin America Thermoplastic Composites Market: By Country, 2020-2027

Table 8 Global Thermoplastic Composites by Product Type Market: By Regions, 2020-2027

Table 9 North America Thermoplastic Composites by Product Type Market: By Country, 2020-2027

Table 10 Europe Thermoplastic Composites by Product Type Market: By Country, 2020-2027

Table 11 Asia-Pacific Thermoplastic Composites by Product Type Market: By Country, 2020-2027

Table 12 Middle East & Africa Thermoplastic Composites by Product Type Market: By Country, 2020-2027

Table 13 Latin America Thermoplastic Composites by Product Type Market: By Country, 2020-2027

Table 14 Global Thermoplastic Composites by Fiber Type Market: By Regions, 2020-2027

Table 15 North America Thermoplastic Composites by Fiber Type Market: By Country, 2020-2027

Table 16 Europe Thermoplastic Composites by Fiber Type Market: By Country, 2020-2027

Table 17 Asia-Pacific Thermoplastic Composites by Fiber Type Market: By Country, 2020-2027

Table 18 Middle East & Africa Thermoplastic Composites by Fiber Type Market: By Country, 2020-2027

Table 19 Latin America Thermoplastic Composites by Fiber Type Market: By Country, 2020-2027

Table 20 North America Thermoplastic Composites for End use industry Market: By Country, 2020-2027

Table 21 Europe Thermoplastic Composites for End use industry Market: By Country, 2020-2027

Table 22 Asia-Pacific Thermoplastic Composites for End use industry Market: By Country, 2020-2027

Table 23 Middle East & Africa Thermoplastic Composites for End use industry Market: By Country, 2020-2027

Table 24 Latin America Thermoplastic Composites for End use industry Market: By Country, 2020-2027

Table 25 Global Product Type Market: By Region, 2020-2027

Table 26 Global End Uses Market: By Region, 2020-2027

Table 27 Global End use industry Market: By Region, 2020-2027

Table 28 North America Thermoplastic Composites Market, By Country

Table 29 North America Thermoplastic Composites Market, By Product Type

Table 30 North America Thermoplastic Composites Market, By Fiber Type

Table 31 North America Thermoplastic Composites Market, By End use industry

Table 32 Europe: Thermoplastic Composites Market, By Country

Table 33 Europe: Thermoplastic Composites Market, By Product Type

Table 34 Europe: Thermoplastic Composites Market, By Fiber Type

Table 35 Europe: Thermoplastic Composites Market, By End use industry

Table 36 Asia-Pacific: Thermoplastic Composites Market, By Country

Table 37 Asia-Pacific: Thermoplastic Composites Market, By Product Type

Table 38 Asia-Pacific: Thermoplastic Composites Market, By Fiber Type

Table 39 Asia-Pacific: Thermoplastic Composites Market, By End use industry

Table 40 Middle East & Africa: Thermoplastic Composites Market, By Country

Table 41 Middle East & Africa Thermoplastic Composites Market, By Product Type

Table 42 Middle East & Africa Thermoplastic Composites Market, By Fiber Type

Table 43 Middle East & Africa: Thermoplastic Composites Market, By End use industry

Table 44 Latin America: Thermoplastic Composites Market, By Country

Table 45 Latin America Thermoplastic Composites Market, By Product Type

Table 46 Latin America Thermoplastic Composites Market, By Fiber Type

Table 47 Latin America: Thermoplastic Composites Market, By End use industry

LIST OF FIGURES

FIGURE 1 Global Thermoplastic Composites Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Thermoplastic Composites Market

FIGURE 4 Value Chain of Global Thermoplastic Composites Market

FIGURE 5 Share of Global Thermoplastic Composites Market in 2020, by country (in %)

FIGURE 6 Global Thermoplastic Composites Market, 2020-2027, (USD billion)

FIGURE 7 Sub-segments of Product type

FIGURE 8 Global Thermoplastic Composites Market size by Product Type, 2020

FIGURE 9 Share of Global Thermoplastic Composites Market by Product type, 2020-2027

FIGURE 10 Global Thermoplastic Composites Market size by Fiber type, 2020

FIGURE 11 Share of Global Thermoplastic Composites Market by Fiber type, 2020-2027

FIGURE 12 Global Thermoplastic Composites Market size by End Use Industry, 2020

FIGURE 13 Share of Global Thermoplastic Composites Market by End Use Industry, 2020-2027