DALLAS, TX / ACCESSWIRE / January 14, 2021 / According to a new market report published by Lucintel, the future of the global short fiber reinforced thermoplastics market looks promising with opportunities in transportation, consumer goods, and electrical/electronics industries. The global short fiber thermoplastics market is declined in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $16.4 billion by 2026 with a CAGR of 3% to 5% from 2021 to 2026. The major drivers for this market are growing demand for lightweight materials as well as recyclability, ease of processing, and better capability of making parts with complex geometry.
Browse 105 market data tables and 157 figures spread through 214 pages and in-depth TOC on 'Global Short Fiber Thermoplastics Market'
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In this market, different types of short fiber thermoplastics such as transportation, consumer goods, electrical/electronics, and others are used as end use industry. Lucintel forecasts that transportation will remain the largest end use industry by value and volume due to the wide application of SFT as it offers higher strength to weight ratio, recyclability, and have ability to mold complex shapes. Consumer goods segment is expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance plastics.
By fiber type, glass fiber based SFT is expected to remain the largest segment over the forecast period. By resin type, polyamide based composites is expected to remain the largest segment by both value and volume. The growing use of high heat resistance thermoplastic composites is likely to drive the consumption of polyamide resin based SFT over the forecast period.
Europe is expected to remain the largest market for short fiber thermoplastics due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries. ROW is expected to witness the highest growth rate during the forecast period due to the expected increase in vehicle production and an increasing focus on lightweight composite materials.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of high temperature resistance PA6 compounds to replace PA46 and PA12 and increasing use of recycled carbon fiber in SFT. BASF, DSM, DowDuPont, SABIC, and Lanxess others are among the major short fiber thermoplastics manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global short fiber thermoplastics market by end use industry, resin type, fiber type, and region and has come up with a comprehensive research report entitled 'Growth Opportunities in the Global Short Fiber Thermoplastics Market 2021-2026: Trends, Forecast, and Opportunity Analysis.' The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global short fiber thermoplastics market by end use industry, resin type, fiber type, and region as follows:
By End Use Industry [Volume (Kilotons) and $M shipment analysis from 2015 to 2026]:
- Consumer Goods
- Electrical & Electronics
By Fiber Type [Volume (Kilotons) and $M shipment analysis from 2015 to 2026]:
- Glass fiber
- Carbon fiber
By Resin Type [Volume (Kilotons) and $M shipment analysis from 2015 to 2026]:
- Polyamide (PA)
- Polypropylene (PP)
- Polybutylene terephthalate (PBT)
By Region [Volume (Kilotons) and $M shipment analysis from 2015 to 2026]:
- North America
- Asia Pacific
- The Rest of the World
This 214-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Dallas, Texas, USA
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