Market Overview:
Thermoplastic is an organic material that melts at specific high temperature and on cooling it gets hardened. Thermoplastic material becomes moldable when heated and can be given desired shapes. Chemically, thermoplastic materials resemble to rubber and physically they are as strong as aluminum. They exhibit many desired properties including good thermal and electrical resistance, greater resistance to abrasion, and good operational ability under high pressure.
In addition to this, the thermoplastic composites exhibit better fatigue properties over traditional materials such as metal and wood and undergoes high load without deformation. Global aerospace & defense industry is making maximum use of thermoplastic composites in manufacturing both fuselage and machinery. The new range of wide and light bodies aircrafts manufactured by leading aerospace industries using more than 50% of composites. This, in turn is expected to drive demand of the thermoplastic composites. The environmental concern necessitate the world to find greener alternative for power generation. Wind energy came up as a solution to this problem. Both developed and developing countries are investing significant shares of their GDP wind energy, which may fuel the demand of thermoplastic composites.
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Competitive Analysis:
Arkema Group
DuPont
SABIC
TEIJIN LIMITED
Koninklijke Ten Cate
DSM N.V.
Celanese Corporation
SGL Carbon SE
Regional Analysis:
There are five key regions the global thermoplastic composite market is segmented across. It includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is the largest market owing to the growth of aerospace & defense and wind industry. India, Japan and China are the major markets in this region on accounts of an increasing investment in aerospace & defense sectors.
North America is a substantial region in the global thermoplastic composite market, after Asia Pacific. U.S. is the largest market in this region owing to the presence of well-established end use industries such as aerospace & defense, along with sports industry. U.S. is constantly increasing its military power to lead in the list of major military powers. This in turn is expected favor market of thermoplastic composite in this region.
Europe is following North America in the global thermoplastic composite market. Major contributors to the regional market in this region are U.K, France, Germany and Italy. Aerospace and automotive industries in Europe are the major consumers of thermoplastic composites in this region, which is driving the growth of regional market. Latin America is witnessing a steady growth of end use industries in countries namely Brazil and Argentina. The marine industry in Brazil is estimated to gain substantial momentum during the forecast period to push growth of the regional thermoplastic composite market. In coming years the opportunities for composite and core material are growing in the Middle East & Africa due to rising end use industries namely building & construction and sports, which would help propel the growth of the regional market.
Segmentation:
The global Thermoplastic Composites Market is segmented on the basis of product type, fiber type, end use industry, and region. Based on product type the market is divided into short fiber reinforced thermoplastic (SFRT), long fiber reinforced thermoplastic (LFRT), continuous fiber reinforced thermoplastic (CFRT), and glass mat thermoplastics (GMT). On the basis of fiber type the market is divided into fiberglass and carbon fiber, in which fiberglass or glass fiber based thermoplastic composite material is holding major share of overall demand of thermoplastic composite. Based on end use industry the global thermoplastic composite market is segmented onto aerospace & defense, wind energy, automotive, building & construction, sports, and others. Among them aerospace & defense industry is installing maximum usage of thermoplastic composites. Geographically, the markets is divided into five key regions namely Asia Pacific, North America, Europe, Latin America and Middle East & Africa.
Intended Audience:
- Thermoplastic composites Manufacturers
- Traders and distributors of thermoplastic composites
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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