Thermoplastic Composites Market

Introduction of the Thermoplastic Composites Market Report

A composite material is a combination of two materials with different physical and chemical properties. When they are combined, they create a material which is specialized to do a certain job, for instance, to become stronger, lighter or resistant to electricity. They can improve strength and stiffness, which have surged the growth of the market.

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Market Dynamic

Key Drivers and Emerging Trends

Rising demand from the transportation industry is a factor that is surging up the demand for thermoplastic composites with time. This is due to the rise in use of the material to build lightweight and eco-friendly vehicles, which has helped the automotive sector by increasing the fuel efficiency of the vehicles. High-speed rail uses these materials for interior and exterior applications of rail carriers to reduce weight. The rapid expansion of the end-use industries like aerospace & defense, electronics, has helped in shifting the paddles for the market. Key markets for thermoplastic composites in China consist of vessels and tanks for the oil and gas industry, new rural construction and delicate building materials. The abrupt expansion of downstream market segments such as solar panels, windmills and frames, automotive, rail transit, housing, animal husbandry and modern farming, intelligent logistics, 5G communications and other fields contribute to the market.

COVID-19 has influenced the demand for thermoplastic composites across industries such as transportation, construction, wind energy, consumer & electronics goods, and others. The interference in the supply chain stemming in delays or non-arrival of raw materials, interrupted financial flows among production line workers, leading to reduced demand for thermoplastic composites.

Restraint in the Thermoplastic Composites Market

However, high cost of raw materials is the key factor which is hampering the growth of the market.

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Fiber Type – Segment Analysis

Based on the fiber type, glass fiber is anticipated to grow at a higher CAGR in the market over the forecast period.  Glass fibers soaring demand due the rapid industrilization, low cost and capability to practice with different resins are the characteristics that have contributed to the growth of the market. Glass fiber is used mostly in wind energy, consumer goods & electronics, and construction, transportation, and other industries.

Application – Segment Analysis

Based on the application, transportation is anticipated to grow at a higher CAGR in the market over the forecast period. The vehicle manufacturers and automakers are discovering the use of thermoplastic composites in different transportation appliances due to lightweight, ease-of-reforming, and reshaping properties. In addition, the thermoplastic composites allow the automotive companies to meet the stringent environmental regulations, leading to the growth of the market.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-pacific is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to a large number of manufacturing units present in India for the production of composites which is majorly contributing to the rapid growth of the market. Furthermore, due to the strong presence of the key players in the market, like DoWDuPont, Mitsubishi Chemical Advanced Materials, BASF SE, etc. leading to the elevating trajectory of the market.

Top Market Players

Various notable players operating in the market, include, Hexcel Corporation, Celenase Corporation, Dowdupont Inc., Tencate, Solvay, Toray Industries, Inc., SABIC, Polyone Corporation, Mitsubishi Chemical Advanced Materials, Covestro AG, among others. 

Key Developments:

• • In 2019, Mitsubishi Advanced Chemical Materials acquired Advanced Polymer Technologies (US), which has helped in the advancement of the material.

Segments covered in the Report:

The global thermoplastic composites market has been segmented on the basis of fiber type, resin type, application, and regions. Based on fiber type, the market is segmented into carbon glass, glass fiber and others. Based on resin type, the market is segmented into polyamide, polyetheretherketone, polypropylene, and others. Based on application, the market is segmented into Transportation, Aerospace & Defense, Electrical & Electronics, and others. 

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Key questions answered in this research report:

• • At what pace is global thermoplastic composites market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in thermoplastic composites market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global thermoplastic composites market?
  • Which fiber type generated maximum revenues in 2020 and identify the most promising fiber type during the forecast period?
  • What are the various resin type areas of global thermoplastic composites market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Fiber Type, By Resin Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Hexcel Corporation, Celenase Corporation, Dowdupont Inc., Tencate, Solvay, Toray Industries, Inc., SABIC, Polyone Corporation, Mitsubishi Chemical Advanced Materials, Covestro AG, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Thermoplastic Composites Market by Fiber Type

• • Carbon Glass
  • Glass Fiber
  • Others

Global Thermoplastic Composites Market by Resin Type

• • Polyamide
  • Polyetheretherketone
  • Polypropylene
  • Others

Global Thermoplastic Composites Market by Application

• • Transportation
  • Aerospace & Defense
  • Electrical & Electronics
  • Others

Global Thermoplastic Composites Market by Region

• • North America Thermoplastic Composites Market (Option 1: As a part of the free 25% customization)
    • North America Thermoplastic Composites Market by Fiber Type
    • North America Thermoplastic Composites Market by Resin Type
    • North America Thermoplastic Composites Market by Application
    • US Thermoplastic Composites Market All-Up
    • Canada Thermoplastic Composites Market All-Up
  • Europe Thermoplastic Composites Market (Option 2: As a part of the free 25% customization)
    • Europe Thermoplastic Composites Market by Fiber Type
    • Europe Thermoplastic Composites Market by Resin Type
    • Europe Thermoplastic Composites Market by Application
    • UK Thermoplastic Composites Market All-Up
    • Germany Thermoplastic Composites Market All-Up
    • France Thermoplastic Composites Market All-Up
    • Spain Thermoplastic Composites Market All-Up
    • Rest of Europe Thermoplastic Composites Market All-Up
  • Asia-Pacific Thermoplastic Composites Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Thermoplastic Composites Market by Fiber Type
    • Asia-Pacific Thermoplastic Composites Market by Resin Type
    • Asia-Pacific Thermoplastic Composites Market by Application
    • China Thermoplastic Composites Market All-Up
    • India Thermoplastic Composites Market All-Up
    • Japan Thermoplastic Composites Market All-Up
    • Rest of APAC Thermoplastic Composites Market All-Up
  • RoW Thermoplastic Composites Market (Option 4: As a part of the free 25% customization)
    • RoW Thermoplastic Composites Market by Fiber Type
    • RoW Thermoplastic Composites Market by Resin Type
    • RoW Thermoplastic Composites Market by Application
    • Brazil Thermoplastic Composites Market All-Up
    • South Africa Thermoplastic Composites Market All-Up
    • Saudi Arabia Thermoplastic Composites Market All-Up
    • UAE Thermoplastic Composites Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Thermoplastic Composites Market All-Up

Major Players Operating in the Thermoplastic Composites (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hexcel Corporation
  • Celenase Corporation
  • Dowdupont Inc.
  • Tencate
  • Solvay
  • Toray Industries, Inc.
  • SABIC
  • Polyone Corporation
  • Mitsubishi Chemical Advanced Materials
  • Covestro AG