The Thermoplastic Composites Market size is estimated at 4.68 Million tons in 2024, and is expected to reach 5.99 Million tons by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).
The COVID-19 pandemic, on a global scale, has forced automakers, wind turbine manufacturers, and aircraft manufacturers to shut down their operations, lowering the demand for composites in 2020. The pandemic impacted almost every aspect of the composites industry, from product demand to workforce development to the acceleration or deceleration of trends that were already underway when it struck. Customers and their own temporary production stop reduced the production levels, and demand reductions have all had a significant impact on production processes.
The global thermoplastic composites market is partially fragmented in nature, with several companies operating on both global and regional levels. Some of the major companies in the market include LANXESS, Solvay, BASF SE, Toray Industries Inc., and Arkema SA, among others.
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