The Thermoplastic Composite Global Market Report 2023, provides comprehensive information on the thermoplastic composite market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Thermoplastic Composite Global Market Report 2023, the market size is expected to grow from $18.01 billion in 2022 to $19.22 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the thermoplastic composite market is expected to grow to $24.29 billion in 2027 at a CAGR of 6.0%.
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The development of low-cost production technology is the new trend in the thermoplastic composites market. The companies operating in thermoplastic composites are increasingly investing in R&D for the development of new products with advanced technologies to meet the technical demands of specific end customers across the globe. For instance, in February 2022, SABIC, a global leader in the chemical industry, announced a partnership with Dongfeng Motors, a China-based truck manufacturer, for the development of a novel plastic composite hybrid solution to produce a strong, lightweight truck-mounted toolbox. Furthermore, in April 2019, Saudi Arabia-based firm SABIC announced the development of the most advanced and versatile thermoplastic materials to meet the modern-day demand of the aerospace industry.
The thermoplastic composite market is segmented:
1) By Product Type: Short Fiber Thermoplastics, Glass Mat Thermoplastics, Long Fiber Thermoplastics, Continuous Fiber Thermoplastics
2) By Fiber Type: Glass Fiber, Carbon Fiber, Other Fiber Types
3) By Resin Type: Polypropylene (PP), Polyamide (PA), Polyetheretherketone (PEEK), Other Resin Types
4) By End-Use Industry: Transportation, Consumer goods & electronics, Wind Energy, Sports & Leisure, Construction, Aersopace & Defense, Other End Users
Asia-Pacific was the largest region in the thermoplastic composite market in 2022.
The table of contents in TBRC’s thermoplastic composite market report includes:
- Executive Summary
- Thermoplastic Composite Market Characteristics
- Thermoplastic Composite Market Trends And Strategies
- Thermoplastic Composite Market – Macro Economic Scenario
- Thermoplastic Composite Market Size And Growth
- Thermoplastic Composite Market Segmentation
- Thermoplastic Composite Market Segmentation
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- Thermoplastic Composite Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Thermoplastic Composite Market
- Thermoplastic Composite Market Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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