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 Marke...