Market Overview: —
Global Thermoplastic Composite Market is projected to grow at highest CAGR due to the growing demand by aerospace & defense industry. Thermoplastic is an organic material that melts at specific high temperature and on cooling it gets hardened. Thermoplastic material becomes moldable when heated and can be given desired shapes. Chemically, thermoplastic materials resemble to rubber and physically they are as strong as aluminum.
They exhibit many desired properties including good thermal and electrical resistance, greater resistance to abrasion, and good operational ability under high pressure. In addition to this, the thermoplastic composites exhibit better fatigue properties over traditional materials such as metal and wood and undergoes high load without deformation.
Global aerospace & defense industry is making maximum use of thermoplastic composites in manufacturing both fuselage and machinery. The new range of wide and light bodies aircrafts manufactured by leading aerospace industries using more than 50% of composites. This, in turn is expected to drive demand of the thermoplastic composites. The environmental concern necessitate the world to find greener alternative for power generation.
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Mar 2018 Principals at Hexcel and Arkema have announced that they have signed a strategic alliance to develop thermoplastic composite solutions for the aerospace sector that will coalesce the expertise of Hexcel in carbon fiber manufacture and of Arkema in polyetherketoneketone (PEKK) resins.
DuPont (U.S.), Arkema Group (France), SGL Carbon SE (Germany), Celanese Corporation (U.S.), DSM N.V. (Netherlands), Koninklijke Ten Cate bv. (Netherlands), SABIC (Saudi Aarbia), TEIJIN LIMITED (Japan), LANXESS (Germany), BASF SE (Germany), and others.
The principal success factors and players’ predilections are constantly growing by the strategies being used by market contenders. The growth patterns are modified in tandem to the customer preferences to achieve maximum growth, and in the long run, profitability. Besides, the introduction of new products and services will add additional impetus to the market progress. The enhancement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The situation for growth plans has stimulated the market for potential new entrants. The gaps in the market are filled due to the execution of rising supply chain strategies. The development of the market is based on the drivers that are radically altering the market backdrop.
Global Thermoplastic Composite Market is segmented on the basis of product type, fiber type, end use industry, and region. Based on product type the market is divided into short fiber reinforced thermoplastic (SFRT), long fiber reinforced thermoplastic (LFRT), continuous fiber reinforced thermoplastic (CFRT), and glass mat thermoplastics (GMT). On the basis of fiber type the market is divided into fiberglass and carbon fiber, in which fiberglass or glass fiber based thermoplastic composite material is holding major share of overall demand of thermoplastic composite. Based on end use industry the global thermoplastic composite market is segmented into aerospace & defense, wind energy, automotive, building & construction, sports, electrical & electronics and others. Among them aerospace & defense industry is installing maximum usage of thermoplastic composites. Geographically, the markets is divided into five key regions namely Asia Pacific, North America, Europe, Latin America and Middle East & Africa.
There are five key regions the global thermoplastic composite market is segmented across. It includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is the largest market owing to the growth of aerospace & defense and wind industry. India, Japan and China are the major markets in this region on accounts of an increasing investment in aerospace & defense sectors.
North America is a substantial region in the global thermoplastic composite market, after Asia Pacific. U.S. is the largest market in this region owing to the presence of well-established end use industries such as aerospace & defense, along with sports industry. U.S. is constantly increasing its military power to lead in the list of major military powers. This in turn is expected favor market of thermoplastic composite in this region.
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Thermoplastic composites Manufacturers
Traders and distributors of thermoplastic composites
Research and development institutes
Raw material suppliers
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Release ID: 452020