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Thermoplastic Composites Market - Growth, Trends, and Forecasts (2019 - 2024)

The market is segmented by Fiber Type (Glass Fiber, Carbon Fiber, and Others), by Resin Type (Polypropylene, Polyamide, Polyetheretherketone, and Others), Product Type (Short-fiber Thermoplastic, Long-fiber Thermoplastic, Continuous-fiber Thermoplastic, and Glass Mat Thermoplastic), End-user Industry (Aerospace and Defense, Electrical and Electronics, Transportation, Construction, and Industrial), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Thermoplastic Composites Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Middle East and Africa

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for thermoplastic composites is expected to grow at a CAGR of over 3.5% during the forecast period. One of the major factors driving the market studied is the increasing demand from the transportation sector. However, challenges to form composites from fiber reinforcementis are likely to restrain the market.

  • Increasing investments in aerospace and defense applications are also likely to boost the demand for during the forecast period.
  • Innovation led by technological advancements to act as an opportunity for the market growth in future.
  • Asia-Pacific accounted for the highest market share in 2018 and is likely to dominate the market during the forecast period.

Scope of the Report

The thermoplastic composites market report includes:

Fiber Type
Glass Fiber
Carbon Fiber
Others
Resin Type
Polypropylene (PP)
Polyamide (PA)
Polyetheretherketone(PEEK)
Others
Product Type
Short-fiber Thermoplastic (SFT)
Long-fiber Thermoplastic (LFT)
Continuous-fiber Thermoplastic (CFT)
Glass Mat Thermoplastic (GMT)
End-user Industry
Aerospace and Defense
Electrical and Electronics
Transportation
Construction
Industrial
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of the Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa (MEA)

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Key Market Trends

Electrical and electronics industry to Dominate the Market

  • In 2018, thermoplastic composites witnessed a major demand from the electrical and electronics industry, owing to their requirement in fabrication of electrical connectors and accessories, electronics equipment, consumer goods, and usage in semiconductors.
  • Thermoplastic composites offer properties, such as high impact resistance, increased strength, and improved durability, and reduces the overall weight of components. 
  • Carbon fiber thermoplastic composites are highly preferred for electrical and electronics applications, as they are lightweight and increase stiffness.
  • The market studied is likely to be further driven by the increased sales of semiconductor devices.
  • Production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices is likely to continue to boost the demand for semiconductors.
  • Additionally, with the growth of the electronics industry, globally, the demand for thermoplastic composites is likely to increase in the coming years.
  • For instance, on August 08, 2018, Samsung announced its plans to boost investments to a KRW 25 trillion, over the next three years, primarily led by Samsung Electronics, in the areas of artificial intelligence (AI), 5G, automotive electronics components, and biopharmaceuticals.
  • Hence, owing to the aforementioned reasons electrical and electronics segment is likely to dominate the market
Thermoplastic Composites Market - Segmentation

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Asia-Pacific to Dominate the Market

  • In 2018, Asia-Pacific has accounted for the major market share owing to the high demand from countries like China and India.

  • One of the major reasons for this is the increasing usage in transportation and electrical & electronics sector of emerging economies including China, India, and Indonesia.

  • The increasing demand for environment-friendly products and stringent environmental regulations are further boosting the demand for thermoplastic composites in the region.

  • China is expected to have the largest market in the Asia-Pacific region, owing to increasing investments in the electronics sector.

  • In addition, the increasing demand for lightweight and electric vehicles is expected to increase the demand for automotive vehicles, which in turn is likely to boost the demand for thermoplastic composites in the region.

  • Hence, owing to the aforementioned reasons, Asia-Pacific is likely to dominate the market during the forecast period.

Thermoplastic Composites Market - Regional Trends

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Competitive Landscape

The market studied is consolidated, with a few top players accounting for a major share of the total market, in 2018. Some of the major players of the market include BASF SE, Lanxess, PPG Fiber Glass Inc., and SABIC.

Major Players

  1. BASF SE
  2. Lanxess
  3. PPG Fiber Glass Inc.
  4. SABIC

* Complete list of players covered available in the table of contents below

Thermoplastic Composites Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Transportation Sector

      2. 4.1.2 Increasing Investments in Aerospace and Defense Applications

    2. 4.2 Restraints

      1. 4.2.1 Challenges to Form Composites from Fiber Reinforcement

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fiber Type

      1. 5.1.1 Glass Fiber

      2. 5.1.2 Carbon Fiber

      3. 5.1.3 Others

    2. 5.2 Resin Type

      1. 5.2.1 Polypropylene (PP)

      2. 5.2.2 Polyamide (PA)

      3. 5.2.3 Polyetheretherketone(PEEK)

      4. 5.2.4 Others

    3. 5.3 Product Type

      1. 5.3.1 Short-fiber Thermoplastic (SFT)

      2. 5.3.2 Long-fiber Thermoplastic (LFT)

      3. 5.3.3 Continuous-fiber Thermoplastic (CFT)

      4. 5.3.4 Glass Mat Thermoplastic (GMT)

    4. 5.4 End-user Industry

      1. 5.4.1 Aerospace and Defense

      2. 5.4.2 Electrical and Electronics

      3. 5.4.3 Transportation

      4. 5.4.4 Construction

      5. 5.4.5 Industrial

      6. 5.4.6 Others

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 ASEAN Countries

        6. 5.5.1.6 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 France

        3. 5.5.3.3 United Kingdom

        4. 5.5.3.4 Italy

        5. 5.5.3.5 Rest of the Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle East & Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle East & Africa (MEA)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arkema Group

      2. 6.4.2 AVANCO Group

      3. 6.4.3 BASF SE

      4. 6.4.4 Celanese Corporation

      5. 6.4.5 Daicel Polymer Ltd

      6. 6.4.6 Dieffenbacher

      7. 6.4.7 DowDuPont

      8. 6.4.8 DSM NV

      9. 6.4.9 Hexcel Corporation

      10. 6.4.10 Lanxess

      11. 6.4.11 Plasticomp Inc.

      12. 6.4.12 Polyone Corporation

      13. 6.4.13 Quadrant

      14. 6.4.14 Royal DSM NV

      15. 6.4.15 SABIC

      16. 6.4.16 SGL Group

      17. 6.4.17 Solvay SA

      18. 6.4.18 Technocompound GmbH

      19. 6.4.19 TEIJIN LIMITED

      20. 6.4.20 TORAY INDUSTRIES INC.

      21. 6.4.21 Victrex PLC

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Usage in the Asia-Pacific Region

**Subject to Availability

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