Global Short Fiber Thermoplastics Market: Overview
Growing demand for short fiber thermoplastics in the automotive sector is the major factor rising growth in the global short fiber thermoplastics market moreover, ease of processing, recyclability, and better capability of making parts with complex geometry are few other reasons driving growth in the global short fiber thermoplastics market.
Adding further to the growth factors, superior physical and mechanical properties of the thermoplastic composites has increased its demand as an alternative for metal assemblies, die-castings, and traditional plastic materials. This has also fueled its growth in various other industries including consumer goods and others. High tensile strength and enhanced surface quality are few other factors augmenting demand in short fiber thermoplastics market.
Apart from driver, various other factors such as geographical growth prospects, innovation, research and development, trends prevailing in the market also influence growth in short fiber thermoplastics market. With this information, stakeholders and decision makers can take better and well-analyzed decisions for the growth of the companies.
Global Short Fiber Thermoplastics Market: Notable Developments
Key players in the global short fiber thermoplastics market are making efforts to advance and develop better thermoplastics components. These developments not only help driving growth in the short fiber thermoplastics market but also open new avenues for the market to grow well.
- Lately, Arkema and Hexcel entered a strategic alliance to develop thermoplastic composite solutions specifically for aerospace sector. This alliance will help combining the expertise of Hexcel in carbon fiber with that of Arkema in PEKK. Together companies will open a joint research and development laboratory that will be located in France.
- A subsidiary of Koninklijke Ten Cate B.V., Toray and CFRP announced that it would acquire TenCate Advanced Composites (TCAC). Acquisition took place in the second half of 2018. With this acquisition company aimed to meet the growing demand for thermoplastics in small- and medium-sized mass-produced aircraft.
Various other leading players operating in the global short fiber thermoplastics market include Arkema, PlastiComp, Hanwha Azdel, Polymer, Dupont, RTP, LANXESS, SGL Group, BASF, and Quadrant. These players are also engaged in research and development activities and are investing heavily in mergers and acquisition, collaboration, partnership, and expansion.
Global Short Fiber Thermoplastics Market: Trends and Opportunities
The demand in the global short fiber thermoplastics is also rising because thermoplastics composites provide high resistance to any kind of distortion when they are tested under severe environments for a prolonged period. Its demand is also rising in the transportation, aerospace and defense, consumer goods industries, and electrical and electronics due to the benefits it provide .
Asia Pacific to Hold Dominant Position Due To Rising Demand for Short Fiber Thermoplastics in Automotive Sector
On the regional front, Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific are major regions considered in the global short fiber thermoplastics market. Asia Pacific is expected to lead the global market over the forecast tenure. This growth is attributed to developments taking place in the electrical & electronics and transportation sector. Moreover, growing popularity for electrical and lightweight vehicles accelerated growth for short fiber thermoplastics in the automotive sector. India, China, and Indonesia are estimated to be the key regions that will boost growth in Asia Pacific short fiber thermoplastics.
Europe is also expected to hold substantial share in the global short fiber thermoplastics market. Growing demand for environmentally sustainable composite materials is the key reason driving growth in Europe short fiber thermoplastics market.
Market segmentation based on geography:
- North America
- South America
- Asia Pacific
- Middle East and Africa
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments