Long Fiber Thermoplastics Market is Forecasted to Reach US$ 1555.7 Million in 2027, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global long fiber thermoplastics market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2021: US$ 1057.7 million

Market Size in 2027: US$ 1555.7 million

Growth (CAGR): 6% during 2022-2027

Leading End-Use Industry Type: Automotive

Leading Resin Type: PP LFT

Leading Region: Europe

Forecast Period: 2022-2027

Trend Period: 2016-2020

Base Year: 2021

Number of Segments Covered: 5

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Long Fiber Thermoplastics Market:

The global long fiber thermoplastics market is segmented based on reinforcement type, end-use industry type, resin type, material type, and region.

Based on end-use industry type – The LFT market is segmented as automotive, consumer goods, sporting goods, industrial goods, and others. Automotive is expected to remain the largest and the fastest-growing segment in the market during the forecast period, owing to the increasing focus of automobile manufacturers towards fuel efficiency which can be attained through higher penetration of lightweight materials such as composites. The automotive industry is the biggest user of compounds including SFT, LFT, SMC, and other reinforced compounds.

Based on resin type - The market is segmented as polypropylene, polyamide, polybutylene terephthalate, PEEK/PEKK, and others. PP LFT held dominance with more than 50% share in 2021 and is expected to maintain its position over the next five years as well. PP resin is comparatively cheap than other resin systems; thus, molders and OEMs in coordination with material suppliers are trying to enhance the performance of PP-LFTs to replace other resin system-based LFTs.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe held more than 35% of the share in 2021 and is expected to remain dominant during the forecast period. This growth outlook is majorly attributed to the following–

·     Europe is the home of leading automotive OEMs, tier players, and LFT manufacturers. Germany and Belgium are the manufacturing capitals of LFTs in the region.

Likewise, Asia Pacific is expected to witness the highest CAGR of 7.6% during 2022-2027 driven by China, Japan, and India. China was one of the markets that experienced an excellent recovery amid the pandemic.

Long Fiber Thermoplastics Market Drivers:

Some of the key drivers listed in the report are given below.

• The market growth is attributed to the rising demand for lightweight and high-performance solutions for various end-use industries.
• Automotive is the major end-use industry in the market.

Top Companies in the Long Fiber Thermoplastics Market:

Stratview Research has identified the following companies as the top market players:

• SABIC
• Chisso
• Celanese
• Technocompound

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

-      Automotive Carbon Thermoplastic Market

-      Short Fiber Thermoplastic Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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