Long Fiber Thermoplastics Market: Snapshot
Used by itself or in combination with other materials, long fiber thermoplastics offer numerous advantages across a plethora of applications. Not only are long fiber thermoplastics fully reformable and recyclable, their reprocessing does not produce toxic effluents. As a result, the growing environmental concerns among the global populace have compelled several manufacturers to opt for these materials. Offering equally good mechanical performance as several metals, long fiber thermoplastics enable the production of much lighter alternatives at the same time. Weight reduction is crucial in the easing of handling fatigue, convenient portability, enhanced ergonomics, and improved functionality, thereby being a more cost efficient solution when compared with simpler conventional plastics.
Corrosion and heat resistance, dimensional stability, and radiolucency are some other properties of these materials that will fuel the demand for them. As the global consumer electronics industry is making vast strides, the need for long fiber thermoplastics is expected to fire up. This is because of the high dielectric properties and radio transparency of these materials. Consumer electronics that deploy technologies such as Bluetooth and other similar wireless transmission technologies can utilize long fiber thermoplastics as an ideal solution. Additionally, these materials can also be used in proximity with computed tomography (CAT or CT) scan and magnetic resonance imaging (MRI) scan diagnostic equipment, by virtue of their non- magnetic properties.
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Full-fledged R&D activities in the domain of long fiber thermoplastics is a key aspect of the competitive landscape of the global market for long fiber thermoplastics. For instance, PlastiComp, a leading player, announced the completion of its new ‘Da Vinci Lab’, where studies pertaining to the new processing techniques and evaluation of polymer and fiber combinations will take place.
Global Long Fiber Thermoplastics Market: Overview
Based on performance, long fiber thermoplastics have reached their peak. They provide strength, stiffness, and toughness like no other material in their segment. They are often substituted for metals as they have the inherent characteristics to deliver high mechanical performance.
On the basis of resin type, the market can be segmented into polyamide (PA), polypropylene (PP), polybutylene terephthalate (PBT), and others. Long fiber thermoplastics application can be found in varied industries such as automotive, sporting goods, consumer goods, and electrical and electronics. The long fiber thermoplastics market can also be segmented on the basis of fiber type into long carbon fiber thermoplastic and long glass fiber thermoplastic.
The report presents a comprehensive overview of the various factors contributing to the expansion of the global long fiber thermoplastics market. It also presents insights into challenges that the market could face over the forecast period. The prevailing trends in the overall market operations are also studied in this report in detail.
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Global Long Fiber Thermoplastics Market: Key Trends
Long fiber thermoplastics are lightweight and environment-friendly, hence they are widely used as applicants in industrial goods, automotive, and consumer goods – constituting as the major driver for market growth.
In terms of application, the automotive industry is said to drive market growth, both by volume and value. The automotive industry has to abide by strict laws and regulations, especially ones related to the emission of carbon dioxide. In order to reduce their carbon footprint, numerous automobile companies are opting for productive, efficient, and lightweight components, leading to low fuel consumption. This means that metal components will subsequently be replaced with lightweight components and this will up the usage of long fiber thermoplastics.
There has been a considerable rise in the usage of polypropylene (PP) resins in the automotive, and electrical and electronics industries, enabling it to register a high growth rate based on resin type. What makes PP resins so popular is their features of elasticity, transmissivity, fatigue resistance, insulation, high chemical resistance, and toughness. In addition, PP resins have high resistance to electricity and are used along with glass or carbon fibers to manufacture electronic components.
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Global Long Fiber Thermoplastics Market: Regional Outlook
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the prominent regions that form a strong base for the global long fiber thermoplastics market. Among the regions mentioned, Europe is expected to hold a large share in the market during the forecast period. The demand is expected to grow even further due to increasing use of thermoplastic-based composites, higher acceptance level of composites materials, and growth in end-use industries.
It is also projected that Asia Pacific and Rest of the World will exhibit a strong demand for long fiber thermoplastics in the near future. There is an enormous requirement for composites in consumer goods, automotive, and industrial goods, thereby giving impetus to the market growth.
Global Long Fiber Thermoplastics Market: Key Players
The report examines the prevailing competition in the market and profiles some of the leading companies operating in the global long fiber thermoplastics market. These include PolyOne, Celanese Corporation, Solvay S.A., Lanxess AG, RTP Company, and PlastiComp Inc. It also presents insights into the threats and opportunities that these companies are expected to witness in the near future.