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USD 6.94 Bn growth opportunity in Thermoplastic Composites Market -- APAC to emerge as a key market


NEW YORK, Oct. 3, 2022 /PRNewswire/ -- The "Thermoplastic Composites Market by Fiber Type, Product, End-User, Resin Type, and Geography ? Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market will observe an incremental growth of USD 6.94 billion between 2021 and 2026, accelerating at a CAGR of 6.64% during the forecast period. The analysts at Technavio have considered various aspects such as the end-user base, adoption rate, average selling price, revenue generated by chemical manufacturers, and various other factors to estimate the market size. Download the PDF Report

The global thermoplastics market is highly fragmented and the degree of fragmentation will accelerate during the forecast period. The market is highly competitive with players competing to gain the largest market share. The vendors compete based on their product offerings with unique value propositions to strengthen their foothold in the market. The competition in the market is likely to intensify during the forecast period as vendors leverage the existing growth opportunities in the fast-growing segments while capitalizing on their positions in the slow-growing segments.

Increasing demand for thermoplastic composites in the automotive industry has been instrumental in driving the growth of the market. However, the high cost of manufacturing, the lack of plastic behavior, and the very low shear strength in the transverse direction are the major challenges, associated with fiber-reinforced polymer composites, impeding the thermoplastic composites market growth. Arkema S.A., BASF SE, Avient Corp., Celanese Corp., Covestro AG, Daicel Corp., DuPont de Nemours Inc., Greene Tweed and Co., Hanwha Azdel Inc., Kingfa Science and Technology Ltd., Koninklijke DSM NV, LANXESS AG, Mitsubishi Chemical Holdings Corp., RTP Co., SABIC, SGL Carbon SE, Solvay SA, Suprem SA, Toray TCAC Holding B.V., and Victrex Plc are among some of the major market participants. Request a Sample Report Here

The thermoplastic composites market is segmented as below:

The glass fiber segment exhibited the maximum growth in the market. Rising demand from various end-user industries, such as automotive, aerospace and defense, construction, marine, sports and leisure, and electrical and electronics is driving the growth of the segment.

APAC will emerge as the key market for thermoplastic composites, occupying 51% of the global market share. The growth of the regional market can be attributed to the increasing use of thermoplastic composites in manufacturing automotive body parts as well as the increasing number of residential construction activities in developing nations like India and China. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The Thermoplastic Market report covers the following areas:

Thermoplastic Composites Market 2022-2026: Key Highlights
Related Reports:

Thermoplastic Composites Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.64%

Market growth 2022-2026

$6.94 billion

Market structure

Fragmented

YoY growth (%)

6.22

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 51%

Key consumer countries

US, China, Japan, India, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arkema S.A., BASF SE, Avient Corp., Celanese Corp., Covestro AG, Daicel Corp., DuPont de Nemours Inc., Greene Tweed and Co., Hanwha Azdel Inc., Kingfa Science and Technology Ltd., Koninklijke DSM NV, LANXESS AG, Mitsubishi Chemical Holdings Corp., RTP Co., SABIC, SGL Carbon SE, Solvay SA, Suprem SA, Toray TCAC Holding B.V., and Victrex Plc

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Fiber Type

6 Market Segmentation by End-user

7 Market Segmentation by Product

8 Market Segmentation by Resin Type

9 Customer Landscape

10 Geographic Landscape

11 Drivers, Challenges, and Trends

12 Vendor Landscape

13 Vendor Analysis

14 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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