Global Thermoplastic Composites Market Size, Analysis - Segmented by Fiber Type, by Resin Type, by Product Type, by End-User Industry, and Geography - Growth, Trends, and Forecast (2022 - 2030).
The thermoplastic composites market is estimated to witness a significant growth during the forecast period, 2018-2023. Asia-Pacific is expected to be the largest market for thermoplastic composites during the forecast period, owing to the rapidly increasing demand from the transportation, aerospace and defense sector.
Increasing Adoption of Thermoplastic Composites
There has been a rapid growth in the usage of thermoplastic composites due to the increasing awareness of its properties which include, easy recyclability, less curing time, high strength, and increased rigidity. Moreover, increasing investments have led to technological advancement in the manufacturing process of thermoplastic composites, due to which, the demand has been witnessing a rise globally.
Electronics Segment to Dominate the Market
Thermoplastic composites are expected to witness a rapid increase in demand from the electronics sector, owing to its requirement for fabrication of electrical connectors and accessories, electronics equipment, and consumer goods. These composites offer properties, such as high impact resistance, increased strength, and improved durability, and reduces overall weight of components. Thus, due to these factors, the demand for thermoplastic composites is expected to grow rapidly from the electrical and electronics segment over the forecast period.
Asia-Pacific dominates the Market
Asia-Pacific is expected to dominate the global thermoplastic composites market with a major share in the coming years. This is majorly because of the increasing usage in transportation and electrical & electronics sector of emerging economies including China, India and Indonesia. The increasing demand for environment-friendly products and stringent environmental regulations are further boosting the demand for thermoplastic composites in the region.
China is expected to have the largest market in the region, owing to increasing investments in the electronics sector. In 2017, the automotive production in China increased by 3.19%. In addition, the increasing demand for light weight and electric vehicles is expected to increase the demand for automotive vehicles, which in turn is likely to boost the demand for thermoplastic composites during the forecast period.
Key Developments
March 2018: Koninklijke Ten Cate B.V. announced their agreement with integrated chemicals and materials group Toray Industries Inc. on the acquisition of TenCate Advanced Composites. Toray is expected to acquire TCAC for an enterprise value of € 930 million.
March 2018: Hexcel and Arkema joined forces in thermoplastic composite solutions for aerospace sector, combining the expertise of Hexcel in carbon fiber and that of Arkema in PEKK. As a part of this partnership, a joint R&D laboratory will be established in France.
Major Players -
BASF SE.
Lanxess AG.
PPG Fiber Glass Inc.
SABIC and Solvay.
Reasons to Purchase Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Information on the resin type, fiber type and end-user industry that are expected to witness the highest demand for thermoplastic composites
Information on the region that is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet (In excel).
Customize Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
Increasing Adoption of Thermoplastic Composites
There has been a rapid growth in the usage of thermoplastic composites due to the increasing awareness of its properties which include, easy recyclability, less curing time, high strength, and increased rigidity. Moreover, increasing investments have led to technological advancement in the manufacturing process of thermoplastic composites, due to which, the demand has been witnessing a rise globally.
Electronics Segment to Dominate the Market
Thermoplastic composites are expected to witness a rapid increase in demand from the electronics sector, owing to its requirement for fabrication of electrical connectors and accessories, electronics equipment, and consumer goods. These composites offer properties, such as high impact resistance, increased strength, and improved durability, and reduces overall weight of components. Thus, due to these factors, the demand for thermoplastic composites is expected to grow rapidly from the electrical and electronics segment over the forecast period.
Asia-Pacific dominates the Market
Asia-Pacific is expected to dominate the global thermoplastic composites market with a major share in the coming years. This is majorly because of the increasing usage in transportation and electrical & electronics sector of emerging economies including China, India and Indonesia. The increasing demand for environment-friendly products and stringent environmental regulations are further boosting the demand for thermoplastic composites in the region.
China is expected to have the largest market in the region, owing to increasing investments in the electronics sector. In 2017, the automotive production in China increased by 3.19%. In addition, the increasing demand for light weight and electric vehicles is expected to increase the demand for automotive vehicles, which in turn is likely to boost the demand for thermoplastic composites during the forecast period.
Key Developments
March 2018: Koninklijke Ten Cate B.V. announced their agreement with integrated chemicals and materials group Toray Industries Inc. on the acquisition of TenCate Advanced Composites. Toray is expected to acquire TCAC for an enterprise value of € 930 million.
March 2018: Hexcel and Arkema joined forces in thermoplastic composite solutions for aerospace sector, combining the expertise of Hexcel in carbon fiber and that of Arkema in PEKK. As a part of this partnership, a joint R&D laboratory will be established in France.
Major Players -
BASF SE.
Lanxess AG.
PPG Fiber Glass Inc.
SABIC and Solvay.
Reasons to Purchase Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Information on the resin type, fiber type and end-user industry that are expected to witness the highest demand for thermoplastic composites
Information on the region that is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet (In excel).
Customize Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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