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Long Fiber Thermoplastics Market Forecast 2020-2025 Growth Drivers, Regional Outlook

Author : Ravi Chawat | Published Date : 2020-09-07 

Global long fiber thermoplastics market is anticipated to be driven by growing application of the product in various end-user industries including aerospace, automotive, sports, furniture, etc. owing to high strength to weight ratio. Surging consumer preference towards ecofriendly and featherweight products will further boost long fiber thermoplastics industry outlook.

Long fiber thermoplastics are innovative structural products that target challenging metal replacement applications & semi-structural applications. With product application in various manufacturing sectors, long fiber thermoplastics market share is projected to increase considerably over the coming years. In terms of revenue, long fiber thermoplastics market size is forecast to surpass USD 3 billion by 2025. 

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From application in aerospace industry, long fiber thermoplastics market share is estimated to amass substantial gains with an estimated revenue generation of over USD 450 million over 2019-2025. Long fiber thermoplastics are cost-effective and comparatively economical then metals, which has fueled product integration in aerospace sector. Moreover, properties like chemical and corrosion resistance ensures durability of aircraft components and increase product life, making LFTs suitable for utilization in aviation industry.

Polypropylene resin segment of long fiber thermoplastics market is estimated to expand exponentially with a CAGR of over 9.5% over 2019-2025. Polypropylene resin is mixed with long fiber thermoplastics and is extensively utilized in packaging industry, hence escalating product demand. Owing to thermal and chemical resistance properties of LFTs, they are widely utilized in furniture components and manufacturing of toys which is further anticipated to supplement long fiber thermoplastics market forecast.

In terms of regional landscape, U.S. long fiber thermoplastics market is anticipated to register robust growth from construction application, with estimated revenue of over USD 15 million over the forecast timeline. In construction of prefabricated movable houses, long fiber thermoplastics are witnessing expansive utilization, owing to its low weight and mechanical strength. Moreover, the product has abrasion resistant characteristics along with strength to withstand impacts, protecting houses from harsh environmental condition and natural calamities. Such superior characteristics are anticipated to propel product integration, and hence shape long fiber thermoplastics market trends over the analysis period.

Germany is projected to be a major regional ground for long carbon fiber reinforced thermoplastics market from application in automotive industry with a notable CAGR of over 9.5% over 2019-2025.In the automotive industry, long fiber thermoplastics are utilized for manufacturing lightweight automotive components.

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The product has superior flexible characteristics which enable development of complex and aerodynamic automotive designs. The polymer is also utilized in manufacturing of car interiors and components including dashboards, doors and car seats, owing to its lightweight. Rise in government regulations pertaining to reduction of automotive weight, to cut down upon fuel consumption and reduce carbon footprint is estimated to further stimulate product demand, and hence augment long fiber thermoplastics industry outlook.

Long fiber thermoplastics market is to some extent fragmented. Key industry players contributing towards long fiber thermoplastics market include Asahi Kasei, Solvay group, SABIC, Celanese Corporation, Quadrant Group, RTP Company and Plasticomp. These industry players are contributing more funds towards research & development activities to develop and innovative products which in turn are supplementing long fiber thermoplastics market size.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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