Thermoplastic Composites Market Potential Effect On Upcoming Future Growth, Competitive Analysis And Forecast 2032
Thermoplastic Composites Market:
Introduction
Transparency
Market Research delivers key insights on the global thermoplastic
composites market. In terms of revenue, the global thermoplastic
composites market is estimated to expand at a CAGR of 6% during
the forecast period, owing to numerous factors, regarding which TMR offers
thorough insights and forecasts in its report on the global thermoplastic
composites market.
The global
thermoplastic composites market is broadly affected by several factors,
including increase in usage of thermoplastic composites in various end-use
industries such as pharmaceuticals, automotive & transportation, and
agriculture. Rise in global demand for composites has led to significant growth
in the usage of thermoplastic composites. Increase in production and demand for
automobiles is expected to be the primary driver of the global thermoplastic
composites market. Growth of marine and construction industries is also
propelling the demand for thermoplastic composites across the globe.
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Thermoplastic Composites Market: Dynamics
Thermoplastic
composites are being increasingly used as engineering materials, as they offer
mechanical properties superior to metal assemblies, die castings, and
traditional plastic materials. They can also be processed easily through the
same fabrication methods such as injection molding.
Mechanical
properties of these materials are dependent on a complex combination of several
internal variables such as type of matrix, fiber content, fiber-matrix
interface, fiber orientation, fiber dimensions, and external variables, i.e.
environmental and testing conditions. Demand for thermoplastics is also rising,
as they can be reshaped by melting. Thermoplastics are also melt-processable.
This helps carry out repair in the field.
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Compared to metals, thermoplastics provide better corrosion
resistance, chemical resistance, and better strength-to-weight ratio. Thus,
superior physical and mechanical properties of short fiber thermoplastic are
expected to the drive the thermoplastic composites market in the near future.
Thermoplastic Composites Market: Prominent Regions
Asia Pacific
holds major share of the global thermoplastic composites market. The market in
the region is anticipated to expand at a CAGR of more than 6.6% during the
forecast period. Increase in demand for thermoplastic composites in various
end-use industries such as automotive, construction, electrical &
electronics, and aerospace in Asia Pacific is driving the thermoplastic
composites market in the region. China is a key country of the thermoplastic
composites market in Asia Pacific. It held significant share of the
thermoplastic composites market in Asia Pacific in 2020. The country is
estimated to maintain its dominant position in the region during the forecast period.
Europe is
also a prominent region of the global thermoplastic composites market. Germany
led the thermoplastic composites market in Europe in 2020. The expansion of the
automotive industry in Europe is driving the thermoplastic composites market in
the region.
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Thermoplastic Composites Market: Major
Players
The global
thermoplastic composites market is consolidated with the presence of key
players. Prominent players operating in the global thermoplastic composites
market include Solvay, BASF SE, SABIC, DSM, Lanxess AG, Avient Corporation,
Celanese Corporation, SGL Carbon, AVANCO GmbH, Teijin Limited, Toray Industries
Inc., Mitsubishi Chemical Corporation, and The Dow Chemical Company.
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Market Research
Transparency Market
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