Long fiber thermoplastics are used in a variety of end-use industries, including automotive, electrical & electronics, consumer goods, and sporting goods. Led by strong end-user demand, the long fiber thermoplastics industry is growing at a rapid pace. The global long fiber thermoplastics market size is expected to grow from USD 2.8 billion in 2020 to USD 4.6 billion by 2025, at a compound annual growth rate (CAGR) of 10.5% during the forecast period.
Europe was the largest long fiber thermoplastics market, in terms of value, in 2019. The demand for these thermoplastics in automotive, electrical & electronics, and other industries is projected to improve due to product innovation and technological advances made in this sector. These factors drive the demand for long fiber thermoplastics during the forecast period.
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Over the past few years, companies have strengthened their positions in the global long fiber thermoplastics market by adopting strategies, such as new product launch/new product development, name change, expansion, and partnership. From 2015 to 2020, expansions and new product development have been the key strategies adopted by market players to maintain growth in the global long fiber thermoplastics market. For instance, in January 2016, the company developed Celstran LFT and composite products with a Nylon platform. This will add to the company product portfolio and offer greater value to suppliers, molders, and OEMs in key industries, including automotive, consumer goods and electrical & electronics.
Major manufacturers profiled in this report include Celanese Corporation (US), SABIC (Saudi Arabia), Lanxess AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings (Japan), PlastiComp Inc. (US), Daicel Polymer Ltd. (Japan), Asahi Kasei Corporation (Japan), RTP Company Inc. (US), and Solvay (Belgium).. These companies adopted various organic and inorganic growth strategies. For instance, in April 2019, Quadrant AG announced that the company will change its name to Mitsubishi Chemical Advanced Materials AG (MCAM). This name change will be an important further step in the history of the Group as the renamed company as well as most of its subsidiaries and affiliates, which will share the name of Mitsubishi Chemical as part of its new identity with some additional designation.
Celanese Corporation (US), SABIC (Saudi Arabia), Lanxess AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings (Japan) are major players in the long fiber thermoplastics market. These companies are the largest growth contributors of the global long fiber thermoplastics market. These companies specialize in manufacturing long fiber thermoplastics that have sustainable properties. For instance, SABIC specializes in manufacturing long fiber thermoplastics, namely, LNP Verton Compound, for the long fiber thermoplastics industry, globally.
Similarly, Solvay (Belgium) specializes in the manufacturing of long fiber thermoplastics, globally. These companies are the key players in the global long fiber thermoplastics market and have a vast global presence.
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