Long Fiber Thermoplastics Market Size, Share, Future Growth, Strategy and Forecast to 2033

 A recent report by Fact.MR on the Long Fiber Thermoplastics Market estimates that global revenues reached US$ 4.6 billion in 2022 and are projected to grow at a CAGR of 10.8% from 2023 to 2033. By the end of 2033, the market is expected to reach US$ 13.7 billion. Among various types, carbon fiber-based long fiber thermoplastics dominate the market, with a forecasted CAGR of 6.1% during the same period.

The transportation sector is a key driver of market growth, as long fiber thermoplastics are widely used in the production of lightweight vehicles, enhancing fuel efficiency in both the automotive and aerospace industries. The rising adoption of electric vehicles (EVs) is further fueling demand. Global EV sales are estimated to surpass 10.6 million units in 2023, marking a significant increase from 6.6 million units in 2021.

For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8676

The rapid growth of the Long Fiber Thermoplastics (LFTs) market presents a significant opportunity for adoption in electric vehicles (EVs). With their ability to reduce vehicle weight, LFTs enhance performance and maximize range, making them an ideal material for EV manufacturing.

In the aerospace sector, LFTs are widely utilized in interior components, leading edges, engine pylons, access doors, aircraft flooring, and molded parts. As nations worldwide continue to prioritize aerospace and defense advancements, global aerospace exports surpassed US$ 202 billion in 2021, driving increased demand for LFTs in the industry.

The sporting goods industry is also witnessing a shift toward high-performance materials. LFTs, known for their exceptional mechanical properties, durability, and lightweight nature, are gaining traction in the production of sports equipment and gear, opening new market opportunities.

Additionally, polypropylene-based thermoplastics are being extensively used across industries. With global polypropylene production rising from 73.8 million MT in 2020 to 75.5 million MT in 2021, and an estimated 78 million MT in 2022, the increasing availability of polypropylene resins is expected to lower raw material costs. This trend is likely to boost the adoption of polypropylene-based LFTs across multiple industries.

Competitive Analysis:

Some of the recent developments in Long Fiber Thermoplastics market are:

  • In February 2022, Teijin announced an expansion of its carbon fiber thermoplastics portfolio with the introduction of three new matrix resins: polyamide (PA), polycarbonate (PC), and polypropylene (PP). These resins are being integrated into the company’s existing composite products, including Tenax ThermoPlastic Consolidated Laminate (TPCL), Tenax ThermoPlastic Woven Fabric (TPWF), and Tenax ThermoPlastic UniDirectional (TPUD).
  • In March 2022, LANXESS expanded its Advanced Thermoplastic Composites Tepex fowcore product line, optimizing and introducing new composites designed to replace thermoset molding compounds. The enhanced range features polypropylene (PP) and polyamide 6 resins, reinforced with 50 mm long fibers to improve performance and durability.
  • In January 2020, Mitsubishi Chemical Corporation (MCC) announced plans to acquire c-m-p GmbH, a German carbon fiber prepreg manufacturer. The acquisition was scheduled for completion in February 2020 through Mitsubishi Chemical Advanced Material, strengthening MCC’s position in the advanced composites market.
  • Also in January 2020, RTP Company launched new thermoplastic compounds engineered for surgical robotic systems. These materials offer flame retardance, chemical resistance, and high strength, addressing the growing demand for advanced materials in medical applications.

Key Companies Covered

  • GS Caltex
  • SABIC
  • Solvay
  • Mitsubishi Chemical Group
  • Teijin Limited
  • Celanese Corporation
  • BASF Group (BASF Corporation)
  • Avient Corporation
  • Asahi Kasei Corporation
  • LOTTE Chemicals
  • LANXESS
  • Daicel Corporation
  • RTP Company
  • AM BU (Samyang Corporation)
  • Sumitomo Bakelite Co., Ltd.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the Long Fiber Thermoplastics Market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.

The study reveals extensive growth in Long Fiber Thermoplastics market by Material Type (Glass Fibers, Carbon Fibers, Steel Fibers, and Aramid Fibers), by End Use Industries (Automotive, Aerospace & Defense, Consumer Goods, Electrical and Electronics, Sports and Leisure, Industrial and Machinery and others), and by Region (North America, Latin America, Europe, East Asia, South Asia and Pacific and Middle East and Africa) - 2023 to 2033.

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