LONDON, Sept. 27, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the short fiber thermoplastic (SFT) composites market looks attractive with opportunities in the transportation, consumer goods, and electrical/electronics industries. The global short fiber thermoplastics market is forecast to grow at a CAGR of 4.5% from 2016 to 2021. The major drivers for the growth of this market are recyclability, ease of processing, and better capability of making parts with complex geometry.
In this market, fiber (glass fiber, carbon fiber) and resin (polyamide, polypropylene, and polybutylene terephthalate) are the major raw materials used for producing short fiber thermoplastic composites. Lucintel predicts that the demand for SFT is likely to experience a good growth during the forecast period supported by growing demand in end-user industries. On the basis of comprehensive research, Lucintel forecasts that the transportation segment is expected to show above average growth during the forecast period.
Within the SFT market, the transportation segment is expected to remain the largest end use industry by both value and volume. Increasing government mandates for higher fuel economy, higher strength to weight ratio, recyclability, and ability to mold complex shapes are the major driving forces that spur growth for SFT in this segment over the forecast period.
Glass fiber is the most commonly used reinforcement material for SFTs and is expected to remain so over the forecast period. By resin type, polyamide based SFT is expected to remain the largest segment by both value and volume. Growing use of SFT in automotive under the hood applications is likely to drive the consumption of polyamide based SFT over the forecast period.
Asia Pacific (including Rest of the World) is expected to remain the largest market and is expected to witness highest growth rate during the forecast period due to the anticipated growth in the end user industries and increasing focus on high performance thermoplastic composites.
For market expansion, this report suggests innovation and new product development, where the unique characteristics of SFT can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of high performance products for the end use industries.
Emerging trends in the global SFT market which have a direct impact on the dynamics of the industry are establishment of manufacturing facilities in high growth markets and integration of operational capabilities. BASF SE, DSM NV, DuPont, Saudi Basic Industries Corporation (SABIC), and Lanxess are among the major suppliers of SFT.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global short fiber thermoplastic composites market by end use application, reinforcement type, matrix type, and region, and has come up with a comprehensive research report, "Global Short Fiber Reinforced Thermoplastic Composites Market 2016-2021: Trends, Forecast and Opportunity Analysis." The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the global short fiber reinforced thermoplastic composites market through 2021, segmented by end use application, reinforcement type, matrix type, and region as follows:
By end-use application [Volume (M lbs) and $M shipment analysis for 2010 – 2021]:
• Consumer Goods
• Electrical and Electronics
By reinforcement type [volume (M lbs) and value $M from 2010 - 2021]:
• Glass Fiber
• Carbon Fiber
By resin type [volume (M lbs) and value $M from 2010 - 2021]:
• Polyamide (PA)
• Polypropylene (PP)
• Polybutylene Terephthalate (PBT)
By region [volume (M lbs) and value $M from 2010 - 2021]-
• North America
• Asia Pacific (including Rest of the World)
This report answers following 11 key questions:
Q.1 How big the opportunities for global Short Fiber Thermoplastic (SFT) market by application, product type, and region?
Q.2 Which product / segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to this market?
Q.6 What are the emerging trends in the SFT market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are taken by key players for business growth?
Q.10 How are the competitive rivalry and threat of substitution in this market?
Q.11 What M&A activities happened in the past years in the SFT market and its impact.
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