Artificial Intelligence driven Marketing Communications
According to the new market research report “Thermoplastic Composites Market by Resin Type (Polypropylene, Polyamide, Polyetheretherketone, Hybrid), Fiber Type (Glass, Carbon, Mineral), Product Type (SFT, LFT, CFT, GMT), Application, and Region – Global Forecast to 2024″, The thermoplastic composites market size is estimated to grow from USD 28.0 billion in 2019 to USD 36.0 billion by 2024, at a CAGR of 5.2% during the forecast period. The thermoplastic composites market is witnessing significant growth because of the growing demand from applications such as transportation, consumer goods & electronics, sports & leisure, and aerospace & defense.
Don’t miss out on business opportunities in Thermoplastic Composites Market
Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=111944669
The penetration of thermoplastic composites is increasing due to the growing demand for materials which offers properties, such as light-weight, high strength, and longer shelf life. The thermoplastic composites market size is estimated to grow from USD 28.0 billion in 2019 to USD 36.0 billion by 2024, at a CAGR of 5.2% between 2019 and 2024. The increasing use of thermoplastic composites in aerospace & defense, consumer goods & electronics, and transportation application is bolstering the market.
The thermoplastic composites market, by application, is segmented into transportation, aerospace & defense, consumer goods & electronics, construction, sports & leisure, wind energy, and others including medical, oil & gas, and marine. The market in the aerospace & defense application is projected to register the highest CAGR, in terms of value and volume, during the forecast period. Transportation is the largest application segment of the thermoplastic composites market, followed by consumer goods & electronics.
Browse and in-depth TOC on “Thermoplastic Composites Market – Global Forecast to 2024”
82 – Tables
48 – Figures
158 – Pages
View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/thermoplastic-composite-market-111944669.html
The thermoplastic composites market size is estimated to grow from USD 28.0 billion in 2019 to USD 36.0 billion by 2024, at a CAGR of 5.2% between 2019 and 2024. Thermoplastic composites are used in a wide range of applications, namely automotive, aerospace & defense, consumer goods & electronics, and others. The use of thermoplastic composites has increased compared to metals and other conventional materials due to multiple advantages, such as higher specific strength, longer shelf life, low requirements of refrigeration for storage, faster production rate, and excellent corrosion, impact, & creep resistance.
The major thermoplastic composites manufacturers are Celanese Corporation (US), DowDuPont Inc. (US), Koninklijke DSM N.V. (Netherlands), Solvay S.A. (Belgium), Toray Industries, Inc. (US), Lanxess AG (Germany), SABIC (Saudi Arabia), BASF SE (Germany), PolyOne Corporation (US), and Mitsubishi Chemical Advanced Materials (Japan). These players have adopted various growth strategies such as acquisition, investment & expansion, and new product development to expand their presence in the global market. New product development and investment & expansion were the dominant strategies adopted by the major players, between 2015 and 2019, which helped them to offer innovative products and broaden their customer base.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=111944669
Celanese Corporation has a prominent presence in the thermoplastic composites market. The company has a strong brand image, and it caters to the growing demand for thermoplastic composites, in major applications. It adopted inorganic and organic growth strategies to strengthen its position in the global thermoplastic composites market. For instance, in February 2018, the company acquired US-based Omni Plastics L.L.C., that helped the company to expand its product portfolio of thermoplastic composites and gain a strong foothold in the North American market.
Koninklijke DSM N.V. has secured a leading position in the European market. It is also establishing its presence in Latin America and MEA and is now focusing on APAC. It has a strong focus on R&D and continuously introducing new products in eth market to meet the dynamic needs of the end-users. For instance, in November 2018, the company launched four new 3D printing grades into its product portfolio that also includes carbon fiber-reinforced polyamide thermoplastic composite, which is ideal for applications that require high mechanical performance at high temperatures.
Browse Adjacent Markets @ Chemicals Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/thermoplastic-composite-market.asp
Visit Our Website: https://www.marketsandmarkets.com