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According to a new market report published by Lucintel, the future of the global long fiber reinforced thermoplastics market looks promising with opportunities in automotive Brian McCann Jersey , consumer goods, and industrial markets. The global long fiber reinforced thermoplastics market is expected to reach an estimated $1.2 billion by 2023 with a CAGR of 5.3% from 2018 to 2023. The major drivers for this market are growing demand for lightweight materials and higher strength to weight ratio in the automotive, consumer goods, and industrial applications as well as recyclability and ease of processing of LFT.
In this market, fiber (glass fiber, carbon fiber) and resin (polypropylene Dansby Swanson Jersey , polyamide) are the major raw materials used for producing long fiber reinforced thermoplastic composites, such as LFRT and D-LFT. Lucintel forecasts that LFRT will remain the largest segment by value and volume due to its wide application area. The D-LFT segment is expected to witness highest growth over the forecast period due to the growing in-line part fabrication in automotive industry.
Within long fiber thermoplastic composites market, transportation will remain the largest end use industry by value and volume due to increasing demand for lightweight materials. Automotive segment is also expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance materials.
By fiber type, glass fiber based LFT is expected to remain the largest segment over the forecast period. By resin type, polypropylene resin based LFT is expected to remain the largest segment by both value and volume. The growing use of high heat resistance thermoplastic composites is likely to drive the consumption of polyamide resin based SFT over the forecast period.
Europe is expected to remain the largest market for long fiber thermoplastics due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries. ROW is expected to witness the highest growth rate during the forecast period due to the expected increase in vehicle production and an increasing focus on lightweight composite materials.
Emerging trends, which have a direct impact on the dynamics of the industry Freddie Freeman Jersey , include development of PA based LFTD-LFT for structural application and increasing use of bio based materials in LFT. SABIC, Celanese, Chisso, TechnoCompound, and RTP Company are among the major suppliers of LFT.
Lucintel, a leading global strategic consulting and market research firm Hank Aaron Jersey , has analyzed growth opportunities in the global long fiber thermoplastics market by end use industry, material form, resin, fiber, and region, and has come up with a comprehensive research report entitled 鈥淕rowth Opportunities in the Global Long Fiber Reinforced Thermoplastics Market 2018-2023: Trends Greg Maddux Jersey , Forecast, and Opportunity Analysis.鈥?The Lucintel report ser. Wholesale Jerseys Free Shipping Wholesale Jerseys From China Wholesale Authentic Jerseys Wholesale NFL Jerseys China Wholesale College Jerseys China Wholesale Basketball Jerseys From China Cheap Jerseys Wholesale New NBA Jerseys Cheap College Jerseys Online Wholesale Jerseys