The worldwide long fiber thermoplastic market comprises of five areas: Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these, the North America is anticipated to develop with the most astounding CAGR amid the audit time frame, 2017 to 2023 because of growing transportation industry and expanding interest in defence sector. The interest for long fiber thermoplastic is anticipated to surge in various nations of the Europe locale, such as, Germany, Italy, and U.K because of high vehicular production rate. Also, late shale gas revelation in North America area is anticipated to fill the demand gap for LFT’s crude materials. Increasing purchasing power of the Middle East people coupled with high human development index (HDI) is allowing them to buy luxury cars which is in turn expected to fuel the long thermoplastic fibers market in the forecast period as they are used to make lightweight automotive parts.
Market Segmentation
The global long fiber thermoplastic market is categorized on the basis of type, fiber type, end use industry, and region. On the basis of type, the market is polypropylene, polyamide, polybutylene terephthalate. On the basis of fiber type, the market is segmented into glass fiber and carbon fiber. On the basis of end use industry, the long fiber thermoplastic market is categorized into defense, transportation, aerospace, electrical & electronics, textiles, personal care and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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Regional Analysis
North America is anticipated to develop with the most elevated CAGR amid the audit time frame, 2017 to 2023 because of growing transportation industry and expanding interest in defense area. The interest for long fiber thermoplastic is anticipated to surge in various nations of the Europe region, such as, Germany, Italy, and U.K because of high vehicular production rate by the automobile industry. In addition, late shale gas disclosure in North America region is anticipated to fill the demand gap for LFT’s raw materials. Asia Pacific has risen as one of the leading market for long fiber thermoplastic. Asia Pacific long fiber thermoplastic market is anticipated to witness an enormous development by virtue of high utilization potential, expanding creation limits, and rising monetary development rate in the rising economies, such as, China, India, and Japan. Latin American nations, for example, Argentina, Colombia, and Brazil are additionally anticipated to witness considerable development attributable to expanding customer spending on automobiles and also contribution of new advances in technology to produce long fiber thermoplastic.
Long Fiber Thermoplastic Market Analysis
Asia Pacific long fiber thermoplastic market is anticipated to witness a colossal development because of high utilization potential, expanding production limits, and rising monetary development rate in the rising economies, such as, China, India, and Japan. Starting 2016, the U.S represented the highest market share and trailed by Canada and continues to grow with higher CAGR attributable to LFT’s less release of VOCs and recycling abilities. In Europe, the interest for long fiber thermoplastic is anticipated to develop in different nations, such as, Italy, Germany, Spain, U.K, France, and Russia by virtue of expanding consumption in advancement and increasing purchasing power of the consumers. Latin American nations, such as, Argentina, Colombia, and Brazil are additionally anticipated to observe generous development attributed to the expanding customer base spending on transport vehicles and association of new advances and innovations in long fiber thermoplastic production. Asia Pacific long fiber thermoplastic market is anticipated to develop with the highest CAGR owing to growing textile industries in India and China. In addition, constant development of automobile industry in different economies of Asia Pacific, such as, China, India, Malaysia, Thailand, and Japan is relied upon to raise the interest for lighter weight parts made of LFT’s which thus is anticipated to fuel the interest for long fiber thermoplastic over the conjecture time frame, 2017 to 2023.
Competitive analysis
- Key Players
- Solvay SA (Belgium)
- Celanese Corporation (U.S.)
- PolyOne Corporation (U.S.)
- SABIC (Saudi Arabia)
- PlastiComp Inc. (U.S.)
- BASF SE (Germany)
- Laxness AG (Germany)
- Quadrant AG (Switzerland)
- RTP Company Inc. (U.S.)
- PPG Industries Inc. (U.S.)
