Long Fiber Thermoplastics Market Worth $4.6 Billion by 2025 - Increasing Use in Various End-use Industries

DUBLIN, May 18, 2020 /PRNewswire/ -- The "Long Fiber Thermoplastics Market by Resin (PP, PA, PEEK, PPA), Fiber (Glass, Carbon), Manufacturing Process (Injection Molding, Pultrusion, D-LFT), End-use Industry (Automotive, Electrical & Electronics), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global long fiber thermoplastics market is projected to grow from $2.8 billion in 2020 to $4.6 billion by 2025, at a CAGR of 10.5% between 2020 and 2025.

In comparison to conventional materials such as aluminum steel, long fiber thermoplastics offer strength, tenacity, density, and thermal and electrical conductivity, fatigue, and corrosion resistance properties. Long fiber thermoplastics are preferred in high-performance applications in several end-use industries, driving the demand for long fiber thermoplastics in various end-use industries.

PA is the fastest-growing resin type of long fiber thermoplastics market in terms of value.

PA resin type is projected to register the highest CAGR in terms of value between 2020 and 2025. PA is partially crystalline thermoplastics that offer an ideal combination of properties for applications, such as automotive, furniture, medical, and electronics. The resin is used in long fiber thermoplastics, as it is easy to process, has a high resistance to heat and chemical attack, high mechanical strength, and stiffness with good dielectric properties, good friction, and wear resistance.

Injection molding process is the largest manufacturing process segment of long fiber thermoplastics, in terms of value and volume.

Injection molding is the largest manufacturing process in the long fiber thermoplastics market. It is a fast, high-volume, closed molding process that uses, most commonly, reinforced thermoplastics composites, such as nylon with chopped glass fiber. It is used for producing parts by injecting molten material into a mold. In the injection molding process, material for the part is fed into a heated barrel; it is mixed and injected into a mold cavity. This is expected to drive the market for injection molding during the forecast period.

Glass is the largest fiber type in the long fiber thermoplastics market in terms of value.

Glass fiber type is projected to register the highest CAGR in terms of value between 2020 and 2025. Glass fiber is the most preferred and cost-effective reinforcement used for long fiber thermoplastics. Long glass fiber thermoplastic composites are manufactured through continuous filaments of fiber, which are melt-impregnated with thermoplastic polymer by the pultrusion process to create a high-performance bond. These are then cut into 1/2-inch (12 mm) composite pellets for convenient processing into net shapes via injection molding or extrusion processes.

Automotive is the largest end-use industry of long fiber thermoplastics, in terms of value.

The automotive end-use industry accounted for the largest market share in 2019. Long fiber thermoplastics are the cost-effective means of substituting inferior quality engineering plastics and metals, to ensure the manufacturing of efficient, productive, and lightweight components, leading to lower fuel consumption, thus encouraging their use in various automotive applications. Long fiber thermoplastics are mainly used in body panels, sound shields, structural body parts, front-end assemblies, truck panels, as well as doors, tailgates, and fender sections.

Europe dominated the long fiber thermoplastics market.

Europe was the largest long fiber thermoplastics market in terms of value in the global long fiber thermoplastics market. APAC dominated the market in 2019, in terms of volume. The key reason for this includes the demand for long fiber thermoplastics in the automotive industry in the region. The demand for long fiber thermoplastics in automotive, electrical & electronics, and other industries is projected to grow due to product innovation and technological advances. The growth of the long fiber thermoplastics industry in this region is further boosted by improved long fiber thermoplastics composite technology solutions and market penetration of long fiber thermoplastics in various end-use industries.

Market Dynamics

Drivers

• Increase in the Demand for Fuel-Efficient Vehicles
• Exceptional Properties of Long Fiber Over Short Fiber Thermoplastics
• Less Generation of VOCs and Recyclability

Restraints

• Weaker Mechanical Properties and Higher Cost Than Thermosets
• High Processing and Manufacturing Costs

Opportunities

• Increasing Use of Long Fiber Thermoplastics in Various End-use Industries

Challenges

• Need for Reducing Capital and Technology Costs

Companies Profiled

• Asahi Kasei Corporation
• BASF SE
• Celanese Corporation
• Daicel Polymer Ltd.
• Dieffenbacher
• Kingfa
• Lanxess AG
• Mitsubishi Chemical Holdings
• Plasticomp Inc.
• PolyOne
• RTP Company, Inc.
• Sabic
• Sambarklft Co. Ltd.
• SBHPP
• Solvay
• Sumitomo Chemical Company Ltd.
• Technocompound GmbH
• Toray Industries, Inc.

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