According to the recent study the thermoplastic composites market is projected to reach an estimated $32 billion by 2031 with a CAGR of 5% 2024 to 2031. Growth in this market is primarily driven by growing demand for lightweight and environmentally sustainable materials, and the replacement of metals with composites in different end use industries.A more than 150-page report to understand trends, opportunity and forecast in thermoplastic composites market by end use (transportation, consumer goods, construction, industrial, and others), material type (SFT, LFT, GMT, and CFT), reinforcement type (glass fiber, and carbon fiber and other), resin type (PP, PA, PBT, others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that transportation by end use will remain the largest end use segment over the forecast period due to increasing demand for lightweight materials
SFT thermoplastic composites will remain the largest segment by material over the forecast period due to its wide usage in injection molding part fabrication.
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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries.
Toray Industries Inc., Syensqo, Celanese Corporation, SABIC, BASF SE, DuPont, LANXESS, Hanwha Corporation, RTP Company are the major supplier in the thermoplastic composites market.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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