According to the new market research report “Long Fiber Thermoplastics Market by Resin (PP, PA, PEEK, PPA), Fiber (Glass, Carbon), Manufacturing Process (Injection Molding, Pultrusion, D-LFT), End-use Industry (Automotive, Electrical & Electronics), Region – Global Forecast to 2025″, The global long fiber thermoplastics market size is expected to grow from USD 2.8 billion in 2020 to USD 4.6 billion by 2025, at a CAGR of 10.5%, during the forecast period. Owing to an increase in the demand for high-performance materials with properties, such as high strength-to-weight ratio, good tensile strength, and electrical conductivity, , the global long fiber thermoplastics market is expected to witness significant growth during the forecast period.
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PP resin is a thermoplastic manufactured by combining propylene monomers. It is used in both consumer goods and industrial applications. Its unique properties and ability to adapt to various fabrication techniques make it a suitable material in a wide range of applications.
Injection molding is a fast, high-volume, closed molding process that uses, most commonly, reinforced thermoplastics composites, such as nylon with chopped glass fiber. It is used for producing parts by injecting molten material into a mold. In this process, material for the part is fed into a heated barrel, mixed, and injected into a mold cavity. This process offers low-cost tooling, which is economical for low production volumes or for the production of large parts.
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Long fiber thermoplastics are used in a variety of end-use industries, including automotive, electrical & electronics, consumer goods, and sporting goods. Led by strong end-user demand, the long fiber thermoplastics industry is growing at a rapid pace. The global long fiber thermoplastics market size is expected to grow from USD 2.8 billion in 2020 to USD 4.6 billion by 2025, at a compound annual growth rate (CAGR) of 10.5% during the forecast period.
Over the past few years, companies have strengthened their positions in the global long fiber thermoplastics market by adopting strategies, such as new product launch/new product development, name change, expansion, and partnership. From 2015 to 2020, expansions and new product development have been the key strategies adopted by market players to maintain growth in the global long fiber thermoplastics market. For instance, in January 2016, the company developed Celstran LFT and composite products with a Nylon platform. This will add to the company product portfolio and offer greater value to suppliers, molders, and OEMs in key industries, including automotive, consumer goods and electrical & electronics.
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Major manufacturers profiled in this report include Celanese Corporation (US), SABIC (Saudi Arabia), Lanxess AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings (Japan), PlastiComp Inc. (US), Daicel Polymer Ltd. (Japan), Asahi Kasei Corporation (Japan), RTP Company Inc. (US), and Solvay (Belgium).. These companies adopted various organic and inorganic growth strategies. For instance, in April 2019, Quadrant AG announced that the company will change its name to Mitsubishi Chemical Advanced Materials AG (MCAM). This name change will be an important further step in the history of the Group as the renamed company as well as most of its subsidiaries and affiliates, which will share the name of Mitsubishi Chemical as part of its new identity with some additional designation.
Celanese Corporation (US), SABIC (Saudi Arabia), Lanxess AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings (Japan) are major players in the long fiber thermoplastics market. These companies are the largest growth contributors of the global long fiber thermoplastics market. These companies specialize in manufacturing long fiber thermoplastics that have sustainable properties. For instance, SABIC specializes in manufacturing long fiber thermoplastics, namely, LNP Verton Compound, for the long fiber thermoplastics industry, globally.
Similarly, Solvay (Belgium) specializes in the manufacturing of long fiber thermoplastics, globally. These companies are the key players in the global long fiber thermoplastics market and have a vast global presence.
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