Long-Fiber Thermoplastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Long-Fiber Thermoplastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global long-fiber thermoplastics market size reached US$ 3.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.

Long-fiber thermoplastics (LFTs) refer to strengthened innovative structural components and polymer resins that are reinforced with short or long fibers of organic and inorganic composites. As compared to various metals and low-performance plastics, they are more lightweight and offer superior durability, better toughness, optimal dimensional stability, and higher mechanical strength to extend product shelf life. Apart from this, LFTs are stiff, eco-friendly, cost-effective, fatigue enduring, corrosion and chemical-resistant, and provide thermal conductivity. On account of these properties, LFTs are extensively used in injection molding and pellet pultrusion processing across diverse sectors. At present, they are commercially available as long fiber reinforced, continuous fiber, glass mat, and short fiber thermoplastics.

Long-Fiber Thermoplastics Market Trends:

The widespread adoption of long-fiber thermoplastics across various industrial verticals can be attributed to the increasing demand for low-density, recyclable, high-performance components. For instance, in the automotive sector, LFTs are widely adopted over metal components for improving the strength-to-weight ratio of vehicle parts for enhanced fuel efficiency as they are lightweight and exhibit high tensile strength. Additionally, the growing environmental concerns have prompted governments to undertake green initiatives promoting the uptake of multiple recyclable components, such as LFTs, to mitigate volatile organic compounds (VOCs), which is supporting the market growth. Moreover, the shifting inclination of pharmaceutical companies toward LFTs for injection molding purposes, owing to fueling awareness regarding their various beneficial properties, is propelling the market growth. Other factors, such as the ongoing manufacturing activities across the globe, extensive usage of LFTs in wind turbines, and strategic collaborations amongst key players to identify diverse product applications, are creating a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global long-fiber thermoplastics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on resin type, fiber type, manufacturing processing and application.

Breakup by Resin Type:

PP
PA
PEEK
PPA

Breakup by Fiber Type:

Glass
Carbon

Breakup by Manufacturing Processing:

Injection Molding
Pultrusion
D-LFT
Others

Breakup by Application:

Automotive
Electrical and Electronics
Consumer Goods
Sporting Goods
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Avient Corporation, BASF SE, Celanese Corporation, Coperion GmbH (Hillenbrand Inc.), Lanxess AG, Mitsubishi Chemical Holdings Corporation, Owens Corning, SGL Carbon SE, Solvay S.A. and Toray Industries Inc.

Key Questions Answered in This Report:

How has the global long-fiber thermoplastics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global long-fiber thermoplastics market?
What are the key regional markets?
What is the breakup of the market based on the resin type?
What is the breakup of the market based on the fiber type?
What is the breakup of the market based on the manufacturing processing?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global long-fiber thermoplastics market and who are the key players?
What is the degree of competition in the industry?