The rising demand for long fiber composites as a substitute for metals, plastics and higher cost designing polymers is raising the demand potential of the market. Market reports associated with the chemicals and materials sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is likely to expand with a formidable CAGR in the duration of the forecast period.
The established competitors functioning in the market for long fiber thermoplastic are Celanese Corporation (U.S.), Quadrant AG (Switzerland), Solvay SA (Belgium), SABIC (Saudi Arabia), RTP Company, Inc. (U.S.), PlastiComp, Inc. (U.S.), PolyOne Corporation (U.S.), BASF SE (Germany), Laxness AG (Germany), and PPG Industries, Inc. (U.S.) among others.
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The superior toughness of long fiber composites is widening the applications scope to those that undergo constant impact forces. The expanding demand for fuel efficient aircrafts and vehicles by using LFT to produce lighter weight parts as an alternative for metals is beneficial to the long-term growth of the market. Escalating expenditure by the defense sector for the application of long fiber thermoplastics in manufacturing body armor is raising the demand levels of the market. Intensifying crude oil production across the world is expected to be a significant driver of the growth in the market during the forecast period.
Segmental Analysis
The long fiber thermoplastic market is segmented on the basis of type, end use industry, fiber type, and region. By type, the market is segmented into polyamide, polypropylene, polybutylene terephthalate.
Based on fiber type, the market is divided into carbon fiber and glass fiber.
Based on end use industry, the market for long fiber thermoplastic is segmented into defense, aerospace, transportation, textiles, electrical electronics, personal care and others.
Based on region, the market is segmented into Asia Pacific, the Middle East, Europe, Latin America, North America and Africa.
Detailed Regional Analysis
The region wise of the Market covers regions such as Europe, Asia Pacific, Latin America, North America, and the Middle East Africa. The North American region is expected to develop with the maximum CAGR during the forecast period because of the increasing transportation industry and mounting investment in defense sector. The demand for long fiber thermoplastic is anticipated to increase in the Europe nations such as Italy, Germany, and U.K due to elevated vehicular production rate by the automotive industry. In addition, the recent discovery of shale gas in the North America region is forecasted to seal the demand gap for LFT’s raw materials.
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The Asia Pacific region has emerged as one of the imminent regions in the market. The Asia Pacific region is likely to observe incredible growth due to factors like soaring consumption potential, escalating production capacities, and expanding economic growth rate in rising economies such as India, Japan and China. The Asia Pacific regional market is predicted to develop with a reasonable CAGR owing to the increasing textile industries in India and China.
In the North American region, the U.S. is observed to be the chief supplier in the market and is anticipated to witness a noteworthy demand for long fiber thermoplastic in the forecast period. In the European region, the demand for long fiber thermoplastic is anticipated to develop in different countries such as Italy, France, Germany, Spain, U.K, and Russia due to escalating expenditure in innovation and rising purchasing power of consumers. Furthermore, the incidence of main automobile manufacturers particularly in Germany is likely to provide a fresh momentum to the market growth.
The Latin American countries such as Colombia, Argentina, and Brazil will witness substantial growth due to mounting consumer spending on passenger cars as well as contribution of new technologies and inventions in the market.
Competitive Analysis
The market is to a great extent lifted by the developments that are occurring in the market. The augmented level of emphasis on the variation of products is increasing the number of customers in the market substantially. The long run feasibility of the market is greatly dependent on the techniques and the strategic roadmaps that are engaged by market players. The market demand and competitors’ dynamics are distinctly improved by the strategies that are being utilized by market players. The smart amalgamation of supply chain management is progressively escalating the expansion of the market. The decisive success factors in the market are effortlessly achieved in the market leading to a high pace of development in the forecast period. The improvement in products and services of the markets will alter the progression of the market’s growth substantially.
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