The global thermoplastic composites market at a CAGR of over 6% during the forecast period

NEW YORK, Dec. 30, 2019 /PRNewswire/ --

Global Thermoplastic Composites Market: About this market
This thermoplastic composites market analysis considers sales from aerospace and defense, consumer goods and electronics, automotive, construction, wind energy, and other end-users. Our study also finds the sales of thermoplastic composites in APAC, Europe, MEA, North America, and South America. In 2019, the aerospace and defense segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising investments in the aerospace sector will play a significant role in the aerospace and defense segment to maintain its market position. Also, our global thermoplastic composites market report looks at factors such as increasing demand for thermoplastic composites in the automotive industry, growth of oil and gas industry, and rising demand for polyamide as composite. However, challenges associated with fiber-reinforcement polymer composites, fluctuating crude oil prices, and the threat of substitutes may hamper the growth of the thermoplastic composites industry over the forecast period.

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Global Thermoplastic Composites Market: Overview
Rising demand for polyamide as composite
The polymer is useful for a wide range of applications that require plastic materials with a high melting temperature. Applications involving a lot of wear and tear often prefer polyamides compared to conventional engineered plastics. Furthermore, the high flexibility to be combined with other materials and low friction of polyamides make them an ideal material to be used for various large-volume standard products such as gears, bushings, and plastic bearings. Thus, the growing demand for polyamides as composites from various applications, including automotive, aerospace, consumer goods, coatings, surgical sutures, and others will lead to the expansion of the global thermoplastic composites market at a CAGR of over 6% during the forecast period.
The growing use of fiber-reinforced composite materials in medical applications
The development of polymer composite materials in recent years has led to technological advances across a wide range of applications in modern orthopedic medicine and prosthetic devices. Composites exhibit superior strength and excellent biocompatibility compared to conventional monolithic materials. This has further led to an increase in demand for fiber-reinforced polymer composites in the medical sector. These composites are often used in orthopedic surgery due to their excellent fatigue characteristics, radiolucency, and high strength-to-weight ratios. Furthermore, their extraordinary properties make them viable to be used for orthotic and prosthetic devices as well as in components for large-scale MRI equipment. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global thermoplastic composites market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading thermoplastic composites manufacturers, that include Arkema SA, BASF SE, Celanese Corp., Covestro AG, Koninklijke DSM NV, LANXESS AG, Polyone Corp., SGL Carbon SE, Solvay SA, and Toray Industries Inc.
Also, the thermoplastic composites market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05835639/?utm_source=PRN

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