Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the thermoplastic composites market is projected to reach an estimated $15.1 billion by 2025 from $13.3 billion in 2019, at a CAGR of 2.2% from 2020 to 2025. Growth in this market is primarily driven by growing demand for lightweight and environmentally sustainable materials, and the replacement of metals with composites in different end use industries.

Browse 159 figures / charts and 141 tables in this 259 -page report to understand trends, opportunities and forecast in thermoplastic composites market by end use industry (transportation, consumer goods, construction, industrial, and others), material type (SFT, LFT, GMT, and CFT), reinforcement type (glass fiber, and carbon fiber and other), resin type (PP, PA, PBT, others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Short fiber thermoplastics (SFT) market is expected to remain the largest segment during the forecast period.”

Based on market type, the thermoplastic composites market is segmented into SFT, LFT, GMT, and CFT. Lucintel forecasts that the SFT market is expected to remain the largest segment and it is expected to witness the highest growth over the forecast period due to increasing demand for high performance thermoplastic composites reinforced with continuous fiber.

“Within the thermoplastic composites market, the transportation segment is expected to remain the largest end use industry”

Based on end use industry, the transportation segment is expected to witness the largest end use industry over the forecast period due to increasing demand for lightweight materials. Consumer goods segment is expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance plastic compounds.

“Europe will dominate the thermoplastic composites market in near future”

Europe is expected to be the largest region with the highest growth over the forecast period due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries. ROW is expected to witness the highest growth rate during the forecast period due to the anticipated growth in the end user industries and increasing focus on high performance thermoplastic composites.

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Major players of thermoplastic composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. SABIC, Celanese, BASF, DSM, Solvay, and Hanwha and others are among the major thermoplastic composites providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/thermoplastic-composites-market.aspx or helpdesk@lucintel.com