Market Size of Short Fiber Thermoplastic Composites Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.81 Billion |
| Market Size (2029) | USD 3.50 Billion |
| CAGR (2024 - 2029) | 4.52 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Short Fiber Thermoplastic Composites Market Analysis
The Short Fiber Thermoplastic Composites Market size is estimated at USD 2.81 billion in 2024, and is expected to reach USD 3.5 billion by 2029, growing at a CAGR of 4.52% during the forecast period (2024-2029).
The COVID-19 pandemic had a negative impact on the market in 2020 and 2021, but it is projected to grow steadily in the forecast period owing to growth in the aerospace, electronics, and automotive sectors globally.
- Ease of recycling, processing, and increasing application base in aerospace and defense are likely to drive the growth of the short fiber thermoplastic composites market.
- On the flip side, the advantages of long fiber thermoplastic composites are expected to hinder the market's growth.
- Innovation led by technological advancements for low-cost carbon fiber composites is expected to unveil new opportunities for the market studied.
- Europe has dominated the market, and it is expected to continue dominating the market through the forecast period.
Short Fiber Thermoplastic Composites Industry Segmentation
Short fiber thermoplastics (SFT) are thermoplastics that contain fibers that are typically less than 1 mm long. The market is segmented by fiber type, resin type, application, and geography. By fiber type, the market is segmented as glass fiber, carbon fiber, and other fiber types. By resin type, the market is segmented as polypropylene, polyamide, polybutylene terephthalate, and other resin types. By application, the market is segmented as aerospace and defense, electrical and electronics, transportation, consumer goods, and other applications. The report also covers the market size and forecasts for the short fiber thermoplastic composites market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Fiber Type | |
| Glass Fiber | |
| Carbon Fiber | |
| Other Fiber Types |
| Resin Type | |
| Polypropylene (PP) | |
| Polyamide (PA) | |
| Polybutylene Terephthalate (PBT) | |
| Other Resin Types |
| Application | |
| Aerospace and Defense | |
| Electrical and Electronics | |
| Transportation | |
| Consumer Goods | |
| Other Applications |
| Geography | ||||||||
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Short Fiber Thermoplastic Composites Market Size Summary
The short fiber thermoplastic composites market is poised for steady growth over the forecast period, driven by increasing demand in the aerospace, electronics, and automotive sectors. These composites are favored for their ease of recycling and processing, as well as their expanding applications in aerospace and defense. However, the market faces challenges from the advantages offered by long fiber thermoplastic composites. Technological advancements, particularly in low-cost carbon fiber composites, are expected to create new opportunities for market expansion. Europe currently leads the market, with Germany, France, Italy, and the United Kingdom contributing significantly to its dominance.
The demand for short fiber thermoplastic composites is particularly strong in transportation applications, where they help reduce vehicle weight without sacrificing structural integrity, thereby enhancing fuel efficiency. This demand is further bolstered by regulatory changes and the growing need for lightweight vehicles. The market's growth is also supported by the increasing production of electric vehicles, where weight reduction plays a crucial role in improving battery efficiency and overall vehicle performance. The market is moderately fragmented, with key players like BASF SE, LANXESS, Solvay, Toray Industries Inc., and Avient actively participating in the market landscape. Recent developments, such as LANXESS's introduction of sustainable products and BASF SE's price adjustments, indicate ongoing strategic movements within the industry.
Short Fiber Thermoplastic Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Ease of Recycling and Processing
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1.1.2 Increasing Application Base in Aerospace and Defense
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1.2 Restraints
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1.2.1 Various Advantages of LFT over SFT
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Fiber Type
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2.1.1 Glass Fiber
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2.1.2 Carbon Fiber
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2.1.3 Other Fiber Types
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2.2 Resin Type
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2.2.1 Polypropylene (PP)
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2.2.2 Polyamide (PA)
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2.2.3 Polybutylene Terephthalate (PBT)
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2.2.4 Other Resin Types
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2.3 Application
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2.3.1 Aerospace and Defense
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2.3.2 Electrical and Electronics
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2.3.3 Transportation
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2.3.4 Consumer Goods
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2.3.5 Other Applications
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 ASEAN Countries
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2.4.1.6 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 France
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2.4.3.4 Italy
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle East and Africa
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Short Fiber Thermoplastic Composites Market Size FAQs
How big is the Short Fiber Thermoplastic Composites Market?
The Short Fiber Thermoplastic Composites Market size is expected to reach USD 2.81 billion in 2024 and grow at a CAGR of 4.52% to reach USD 3.50 billion by 2029.
What is the current Short Fiber Thermoplastic Composites Market size?
In 2024, the Short Fiber Thermoplastic Composites Market size is expected to reach USD 2.81 billion.
