Long Fiber Thermoplastics Market
PUBLISHED: 2024 ID: SMRC26120
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Long Fiber Thermoplastics Market

Long Fiber Thermoplastics Market Forecasts to 2030 - Global Analysis By Fiber Type (Glass, Carbon, Aramid , Natural and Other Fiber Types), Resin Type, Manufacturing Process, Application, End User and By Geography

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Published: 2024 ID: SMRC26120

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Long Fiber Thermoplastics Market is accounted for $4.3 billion in 2023 and is expected to reach $9.1 billion by 2030 growing at a CAGR of 11.3% during the forecast period. Long Fiber Thermoplastics (LFT) are a type of composite material that combines thermoplastic polymers with long fibers, typically glass or carbon fibers. The process of creating LFT involves impregnating the long fibers with a molten thermoplastic resin, which is then cooled and solidified to form a solid composite structure. This manufacturing technique allows for a high degree of control over the distribution and orientation of the fibers within the thermoplastic matrix, resulting in materials with enhanced mechanical properties such as strength, stiffness, impact resistance, and dimensional stability.

According to International Energy Agency (IEA), in 2021 sales of EVs were the highest in China at 3.3 million.

Market Dynamics: 

Driver: 

Increased demand for fuel-efficient vehicles

The market is witnessing a surge in demand driven by the increased emphasis on fuel-efficient vehicles. As environmental concerns grow and regulations tighten, automakers are turning to LFTs due to their lightweight yet strong properties, enabling improved fuel economy without compromising performance. This shift reflects a broader industry trend towards sustainability and eco-friendly materials, positioning LFTs as a key player in the development of next-generation automobiles.

Restraint:

Availability of substitutes

In the market, substitutes are relatively limited due to the unique properties they offer. Alternatives like short fiber thermoplastics lack the same strength and impact resistance as LFTs. Composites such as glass fiber reinforced plastics (GFRP) provide strength but lack the moldability and lightweight characteristics of these thermoplastics. However, continuous advancements in materials science may introduce new substitutes or variations in the future.

Opportunity:

Growing demand across industries

The market is witnessing a surge in demand across various industries. Automotive, aerospace, electronics, and consumer goods sectors are particularly driving this growth. It offers lightweight, high-strength solutions, making it ideal for applications requiring structural integrity and durability. With advancements in material technology and increasing emphasis on sustainability, the demand continues to rise as industries seek efficient and eco-friendly materials to meet their evolving needs.

Threat:

High processing & manufacturing costs

High processing and manufacturing costs continue to pose challenges in the market. These costs stem from intricate production processes, specialized equipment requirements, and the need for precise material formulations. Additionally, the use of long fibers adds complexity to molding and compounding operations, contributing to higher expenses. Despite advancements in technology, addressing these cost issues remains a priority for industry players seeking to enhance competitiveness and promote wider adoption of these materials in various applications.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Long Fiber Thermoplastics (LFT) market, causing disruptions in supply chains, production slowdowns, and reduced demand due to economic uncertainties. Companies faced challenges in sourcing raw materials and logistics, leading to price fluctuations. However, as industries recovered, there was a gradual rebound in demand, especially in sectors like automotive, aerospace, and construction, driving innovations and investments in LFT technologies for lightweight, durable, and sustainable solutions.

The aramid segment is expected to be the largest during the forecast period

The aramid segment is expected to be the largest during the forecast period due to their exceptional strength, stiffness, and heat resistance. These fibers, such as Kevlar, are being increasingly used in automotive, aerospace, and sports equipment applications. Aramid-based products offer excellent impact resistance and structural integrity, driving their demand in various high-performance industries and shaping the future of composite materials. 

The bumpers segment is expected to have the highest CAGR during the forecast period

The bumpers segment is expected to have the highest CAGR during the forecast period. These bumpers, reinforced with long fiber thermoplastics, offer superior impact resistance, lightweight design, and excellent durability, making them ideal for automotive applications. Manufacturers are focusing on developing innovative materials with enhanced strength-to-weight ratios and improved recyclability to meet the growing demands of the automotive industry. This trend indicates a promising future for bumpers as a preferred choice for vehicle safety and performance.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. They offer several advantages over metals and short fiber composites. They are lighter in weight, corrosion-resistant, and can be easily molded into complex shapes, making them suitable for a wide range of applications across different industries. Regulatory factors, including environmental regulations and standards related to material performance and safety, influence the adoption and development in the region.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period driven by increasing demand from automotive, aerospace, and construction industries. Factors such as lightweight properties, high strength-to-weight ratio, and recyclability are driving adoption. Countries are major contributors to market growth due to technological advancements and investments in manufacturing infrastructure. With a focus on sustainability and performance, the market in region is poised for further expansion.

Key players in the market

Some of the key players in Long Fiber Thermoplastics market include Celanese Corporation, BASF SE, Asahi Kasei Corporation, Mitsubishi Chemical Holdings, PlastiComp Inc., RTP Company Inc., Daicel Polymer Ltd., SGL Carbon, Solvay, JNC Corporation, SABIC, Avient Corporation, Lanxess AG, Sumitomo Chemical Co. Ltd and Toray Industries Inc.

Key Developments:

In December 2022, Solvay S.A. partnered with Electronic Fluorocarbons (EFC) to gain exclusive distribution rights for its products in North America.

In November 2022, Celanese Corporation acquired a majority of the stake in the Mobility & Materials Business of DuPont, which improves its thermoplastics and elastomer product portfolio.

In May 2022, Lanxess AG has acquired the DSM Engineering Materials business from Royal DSM, invested jointly by Advent International and Lanxess AG.

Fiber Types Covered:
• Glass
• Carbon
• Aramid 
• Natural 
• Other Fiber Types

Resin Types Covered:
• Polypropylene (PP)
• Polybutylene Terephthalate (PBT)
• Polyamide (PA)
• Polyether Ether Ketone (PEEK)
• Other Resin Types 

Manufacturing Process Covered:
• Injection Molding
• Pultrusion
• Direct-LFT
• Extrusion Molding 

Applications Covered:
• Dashboards
• Door Panels
• Bumpers
• Pipes
• Frames
• Other Applications 

End Users Covered:
• Automotive
• Aerospace
• Consumer Goods
• Electrical & Electronics
• Building & Construction
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary        
          
2 Preface         
 2.1 Abstract        
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology      
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions      
          
3 Market Trend Analysis       
 3.1 Introduction       
 3.2 Drivers        
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats        
 3.6 Application Analysis      
 3.7 End User Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
          
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry       
          
5 Global Long Fiber Thermoplastics Market, By Fiber Type    
 5.1 Introduction       
 5.2 Glass        
 5.3 Carbon        
 5.4 Aramid         
 5.5 Natural         
 5.6 Other Fiber Types       
          
6 Global Long Fiber Thermoplastics Market, By Resin Type    
 6.1 Introduction       
 6.2 Polypropylene (PP)       
 6.3 Polybutylene Terephthalate (PBT)     
 6.4 Polyamide (PA)       
 6.5 Polyether Ether Ketone (PEEK)     
 6.6 Other Resin Types       
          
7 Global Long Fiber Thermoplastics Market, By Manufacturing Process   
 7.1 Introduction       
 7.2 Injection Molding       
 7.3 Pultrusion       
 7.4 Direct-LFT       
 7.5 Extrusion Molding       
          
8 Global Long Fiber Thermoplastics Market, By Application    
 8.1 Introduction       
 8.2 Dashboards       
 8.3 Door Panels       
 8.4 Bumpers        
 8.5 Pipes        
 8.6 Frames        
 8.7 Other Applications       
          
9 Global Long Fiber Thermoplastics Market, By End User    
 9.1 Introduction       
 9.2 Automotive       
 9.3 Aerospace       
 9.4 Consumer Goods       
 9.5 Electrical & Electronics      
 9.6 Building & Construction      
 9.7 Other End Users       
          
10 Global Long Fiber Thermoplastics Market, By Geography    
 10.1 Introduction       
 10.2 North America       
  10.2.1 US       
  10.2.2 Canada       
  10.2.3 Mexico       
 10.3 Europe        
  10.3.1 Germany       
  10.3.2 UK       
  10.3.3 Italy       
  10.3.4 France       
  10.3.5 Spain       
  10.3.6 Rest of Europe      
 10.4 Asia Pacific       
  10.4.1 Japan       
  10.4.2 China       
  10.4.3 India       
  10.4.4 Australia       
  10.4.5 New Zealand      
  10.4.6 South Korea      
  10.4.7 Rest of Asia Pacific      
 10.5 South America       
  10.5.1 Argentina      
  10.5.2 Brazil       
  10.5.3 Chile       
  10.5.4 Rest of South America     
 10.6 Middle East & Africa      
  10.6.1 Saudi Arabia      
  10.6.2 UAE       
  10.6.3 Qatar       
  10.6.4 South Africa      
  10.6.5 Rest of Middle East & Africa     
          
11 Key Developments        
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 11.2 Acquisitions & Mergers      
 11.3 New Product Launch      
 11.4 Expansions       
 11.5 Other Key Strategies      
          
12 Company Profiling        
 12.1 Celanese Corporation      
 12.2 BASF SE        
 12.3 Asahi Kasei Corporation      
 12.4 Mitsubishi Chemical Holdings      
 12.5 PlastiComp Inc.       
 12.6 RTP Company Inc.       
 12.7 Daicel Polymer Ltd.       
 12.8 SGL Carbon       
 12.9 Solvay        
 12.10 JNC Corporation       
 12.11 SABIC        
 12.12 Avient Corporation       
 12.13 Lanxess AG       
 12.14 Sumitomo Chemical Co. Ltd      
 12.15 Toray Industries Inc.      
          
List of Tables         
1 Global Long Fiber Thermoplastics Market Outlook, By Region (2021-2030) ($MN)  
2 Global Long Fiber Thermoplastics Market Outlook, By Fiber Type (2021-2030) ($MN) 
3 Global Long Fiber Thermoplastics Market Outlook, By Glass (2021-2030) ($MN)  
4 Global Long Fiber Thermoplastics Market Outlook, By Carbon (2021-2030) ($MN)  
5 Global Long Fiber Thermoplastics Market Outlook, By Aramid  (2021-2030) ($MN)  
6 Global Long Fiber Thermoplastics Market Outlook, By Natural  (2021-2030) ($MN)  
7 Global Long Fiber Thermoplastics Market Outlook, By Other Fiber Types (2021-2030) ($MN) 
8 Global Long Fiber Thermoplastics Market Outlook, By Resin Type (2021-2030) ($MN) 
9 Global Long Fiber Thermoplastics Market Outlook, By Polypropylene (PP) (2021-2030) ($MN) 
10 Global Long Fiber Thermoplastics Market Outlook, By Polybutylene Terephthalate (PBT) (2021-2030) ($MN)
11 Global Long Fiber Thermoplastics Market Outlook, By Polyamide (PA) (2021-2030) ($MN) 
12 Global Long Fiber Thermoplastics Market Outlook, By Polyether Ether Ketone (PEEK) (2021-2030) ($MN)
13 Global Long Fiber Thermoplastics Market Outlook, By Other Resin Types (2021-2030) ($MN) 
14 Global Long Fiber Thermoplastics Market Outlook, By Manufacturing Process (2021-2030) ($MN)
15 Global Long Fiber Thermoplastics Market Outlook, By Injection Molding (2021-2030) ($MN) 
16 Global Long Fiber Thermoplastics Market Outlook, By Pultrusion (2021-2030) ($MN) 
17 Global Long Fiber Thermoplastics Market Outlook, By Direct-LFT (2021-2030) ($MN)  
18 Global Long Fiber Thermoplastics Market Outlook, By Extrusion Molding (2021-2030) ($MN) 
19 Global Long Fiber Thermoplastics Market Outlook, By Application (2021-2030) ($MN) 
20 Global Long Fiber Thermoplastics Market Outlook, By Dashboards (2021-2030) ($MN) 
21 Global Long Fiber Thermoplastics Market Outlook, By Door Panels (2021-2030) ($MN) 
22 Global Long Fiber Thermoplastics Market Outlook, By Bumpers (2021-2030) ($MN)  
23 Global Long Fiber Thermoplastics Market Outlook, By Pipes (2021-2030) ($MN)  
24 Global Long Fiber Thermoplastics Market Outlook, By Frames (2021-2030) ($MN)  
25 Global Long Fiber Thermoplastics Market Outlook, By Other Applications (2021-2030) ($MN) 
26 Global Long Fiber Thermoplastics Market Outlook, By End User (2021-2030) ($MN)  
27 Global Long Fiber Thermoplastics Market Outlook, By Automotive (2021-2030) ($MN) 
28 Global Long Fiber Thermoplastics Market Outlook, By Aerospace (2021-2030) ($MN) 
29 Global Long Fiber Thermoplastics Market Outlook, By Consumer Goods (2021-2030) ($MN) 
30 Global Long Fiber Thermoplastics Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
31 Global Long Fiber Thermoplastics Market Outlook, By Building & Construction (2021-2030) ($MN)
32 Global Long Fiber Thermoplastics Market Outlook, By Other End Users (2021-2030) ($MN) 
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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