Fiber thermoplastics are composite materials that consist of high performance fibers such as glass fiber and carbon fiber. These fibers are further impregnated in a matrix of thermoplastics such as polycarbonates through melt and compression molding processes. Fiber thermoplastics possess good electrical conductivity, high strength, low moisture absorption, and low coefficient of thermal expansion. They offer high impact strength and chemical stability. Furthermore, fiber thermoplastics are recyclable, and are regarded as lightweight materials. They are environmentally acceptable, as solvents are not used in their production. They also do not emit volatile organic compounds. Fiber thermoplastics are generally 40% and 20% lighter than steel and aluminum, respectively. They are widely used in aerospace & defense, consumer goods, automobile, and electrical & electronics industries.

Based on product type, the fiber thermoplastics market has been segmented into long fiber reinforced thermoplastics (LFRT), short fiber reinforced thermoplastics (SFRT), continuous fiber thermoplastics (CFT), and glass mat thermoplastics (GMT). Demand for SFRT is expected to rise at a significant pace, as it offers better mechanical properties in terms of strength, elastic stiffness, and creep and fatigue endurance. Based on fiber type, the market has been bifurcated into glass fiber and carbon fiber. Currently, the fiber thermoplastics market is dominated by carbon fiber; however, carbon fiber is expensive and delicate in handling. Thus, glass fiber is anticipated to surpass carbon fiber in the next few years. Glass fiber possesses high strength; flexibility; durability; stability; light weight; and resistance to heat, temperature, and moisture. These factors are driving the market for fiber thermoplastics. Based on resin type, the market has been divided into polypropylene (PP), polyamide (PA), polybutylene terephthalate (PBT), polyetherimide (PEI), polyphenylene sulfide (PPS), and polyetheretherketone (PEEK). Demand for PA, PEI, and PEEK is estimated to increase at a moderate pace during the forecast period due to the expansion in end-use industries.

Growth in end-user industries such as aerospace & defense and automobiles is projected to boost the demand for fiber thermoplastics during the forecast period. Increase in usage of carbon fiber and glass fiber in commercial aircraft such as Airbus A320, Airbus A350 XWB, and the Gulfstream Aerospace G650 due to their characteristics such as better surface quality, high rigidity, and less product rejection at extreme temperatures have made fiber thermoplastics more attractive than metals. Furthermore, rise in demand for light weight materials to achieve high fuel efficiency in automotive production is likely to propel the demand for fiber thermoplastics during the forecast period. Fluctuation in prices of raw materials may hamper market growth. However, enhancement in product performance through innovation is expected to provide lucrative opportunities for market players.

Geographically, the fiber thermoplastics market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Currently, North America is the leading region of the fiber thermoplastics market, followed by Europe and Asia Pacific. The U.S. and Canada are the key consumers of fiber thermoplastics, led by the increase in demand for these thermoplastics in automotive and aerospace industries. Technological advancement and new product launches are estimated to boost the demand for fiber thermoplastics in the U.S during the forecast period. Rise in workforce and development of industrial infrastructure in Asia Pacific has led to the steady growth of industries such as automotive, electrical & electronics, aerospace, and consumer goods. Japan, one of the pioneers in electronics, is another market in Asia that is witnessing steady growth in fiber thermoplastics. Europe is projected to follow suit owing to the presence of well-established automotive markets in Germany and Italy. Furthermore, some of the prominent players in the aerospace industry operate in Europe. This is projected to augment the fiber thermoplastics market in the region in the near future.

Key players operating in the fiber thermoplastics market include Cytec Industries, Owens Corning, Toray Industries, Momentive Performance Materials Inc., SGL Group, AGY Holdings Corporation, and Huntsman Corporation. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fiber Thermoplastics Market

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