The global long-fiber thermoplastics market was worth approximately USD 3.4 billion in 2022 and is expected to increase at an 8.8% CAGR between 2022 and 2028.
The study forecasts and analyses the worldwide long-fiber thermoplastics market on a global and regional scale. The research report provides a complete market valuation, competition, opportunities, developing trends, and market numbers certified by the industry. The report presents historical data from 2018 to 2021, as well as a forecast from 2021 to 2028 based on volume (Kilo Tons) and income (USD Billion).
The worldwide long-fiber thermoplastics market is predicted to grow significantly in the coming years and at a remarkable rate over the forecast period. The long fiber thermoplastics market has enormous potential due to its diverse uses, outstanding features, and rising market demand. Superior processability, improved corrosion resistance, longer shelf life, outstanding mechanical qualities, and low density are key attributes driving the long fiber thermoplastics market in a variety of sectors around the world. The increased demand for long-fiber thermoplastics from electronic goods like air purifiers, ceiling fans, microwaves, and air conditioners is a critical factor driving the market.
The global long-fiber thermoplastics market is divided into three segments: resin type, fiber type, and application. The long fiber thermoplastics market is divided into three categories based on resin type: polypropylene, polyamide, and polybutylene terephthalate. Because of its chemical and heat resistance, polypropylene is expected to have the highest demand during the projection period, since it is utilized in furniture components, bumpers, packaging, and toy manufacture. The long fiber thermoplastics market is classified into two categories based on fiber type: glass fiber and carbon fiber.
Because of its flexibility, the glass fiber-reinforced thermoplastics material is expected to expand at a significant rate due to wider application in the automotive industry, aerospace industry, building & construction, and electrical sector. The long fiber thermoplastics market is segmented into automotive, electronics appliances, sports leisure, construction, and furniture. The automobile application is further classified as follows: door module, air inlet, service panel, upper front end, abs/esp bracket, battery cooling box, front mfb, seat handle, latch bracket, wheel cover, and seat back.
The increasing demand for long-fiber thermoplastics from the automotive industry is the primary driver of market expansion. Government laws drive the demand from the automotive industry. For example, the Corporate Average Fuel Economy (CAFE) standard has consistently highlighted the use of lightweight materials in automobiles, such as LFT composites. Automobiles and the automotive industry will continue to be the primary users of LFTs over the next 20 years. The superior characteristics of long-fiber thermoplastics over short-fiber thermoplastics are a secondary element driving the market. The high processing and manufacturing costs may stymie the worldwide long-fiber thermoplastics market.
Key players in the long fiber thermoplastics market are SABIC (Saudi Arabia), Celanese Corporation (US), PolyOne (US), Solvay SA (Belgium), PlastiComp Inc. (US), and RTP Company (US).
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