Barrow, Alaska Nov 30, 2021 (Issuewire.com) - According to a recent study the long fiber thermoplastics market is projected to reach an estimated $1.0 billion by 2025 from $0.9 billion in 2019, at a CAGR of 1.5% from 2020 to 2025. Growth in this market is primarily driven by increasing demand for lightweight materials in various end-use industries as well as its performance and process benefits, much higher strength to weight ratio, recyclability, and remoldablity.
Browse 167 figures/charts and 114 tables in this 226 -page report to understand trends, opportunities, and forecasts in long fiber thermoplastics market by end-use industry (automotive, consumer goods, industrial, and others), by material form (LFRT and D-LFT), by reinforcement type (glass fiber and carbon fiber & others), resin type (polypropylene, polyamide, and others), and region (North America, Europe, Asia Pacific and the Rest of the World).
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“LFRT market is expected to remain the largest segment during the forecast period.”
Based on usage type, the Long fiber thermoplastics market is segmented into LFRT and D-LFT. Lucintel forecasts that the LFRT is expected to witness the largest segment over the forecast period due to increasing demand in automotive and industrial applications. The D-LFT segment is expected to witness the highest growth over the forecast period due to the growing in-line part fabrication in the automotive industry.
“Within the long fiber thermoplastics market, the automotive segment is expected to remain the largest end-use industry”
Based on the end-use industry the automotive segment is expected to witness the largest segment over the forecast period and it is also expected to witness the highest growth during the forecast period supported by growing automotive production and increasing focus on thermoplastic resin-based composite materials.
“Europe will dominate the long fiber thermoplastics market in near future”
Europe is expected to be the largest region due to the growing demand for lightweight and environmentally sustainable composite materials. The Asia Pacific is expected to witness the highest growth during the forecast period due to the growing automotive production and increasing focus on lightweight composite materials.
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