Pune, India -- (SBWire) -- 12/24/2018 --Segmental Analysis
The market is segmented on the Basis of Fiber Type, End-Use Industry, Product Type and Region. By Product Type, the market comprises of continuous fiber reinforced thermoplastic (CFRT), long fiber reinforced thermoplastic (LFRT), short fiber reinforced thermoplastic (SFRT), and glass mat thermoplastics (GMT). By Fiber Type, the market is divided into fiberglass and carbon fiber. By End-Use Industry, the Global Thermoplastic Composite Market is segmented into wind energy, aerospace & defense, building & construction, automotive, sports, and others. The regions included in the market are North America, Asia Pacific, Latin America, Europe, and Middle East & Africa.
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Detailed Regional Analysis
The Asia Pacific region is the major region in the market due to the growth of aerospace & defense and wind industry. The North American follows the Asia Pacific region in terms of market share. The U.S. is the main market in this region due to the incidence of well-established end-use industries such as the sports, aerospace and defense industry. The U.S. is constantly increasing its military power to lead the major military powers worldwide, this, in turn, is anticipated to favor the market of thermoplastic composite in this region. The Latin American region is witnessing a steady growth of end-use industries in countries such as Brazil and Argentina. The marine industry in Brazil is estimated to gain substantial momentum during the forecast period to push the growth of the regional thermoplastic composite market.
Competitive Analysis
The principal success factors and players' predilections are constantly growing by the strategies being used by market contenders. The growth patterns are modified in tandem to the customer preferences to achieve maximum growth, and in the long run, profitability. Besides, the introduction of new products and services will add additional impetus to the market progress. The enhancement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The situation for growth plans has stimulated the market for potential new entrants. The gaps in the market are filled due to the execution of rising supply chain strategies. The development of the market is based on the drivers that are radically altering the market backdrop.
The outstanding competitors in the market for global thermoplastic composite are Arkema Group (France), DuPont (U.S.), SGL Carbon SE (Germany), DSM N.V. (Netherlands), Celanese Corporation (U.S.), Koninklijke Ten Cate bv. (Netherlands), LANXESS (Germany), Teijin Limited (Japan), SABIC (Saudi Arabia), BASF SE (Germany), and others.
Thermoplastic Composites Market – Overview
The emergence of Thermoplastic Composites as a strongly viable alternative to metal is boosting the market development consistently. Market reports associated with the chemicals and materials industry have been made available by Market Research Future who publishes reports on other sectors that have been presently published along with a report on this industry. The market is forecasted to achieve revenues to the worth USD 110 billion by the end of the forecast period.
Its benefits in terms of low processing and manufacturing cost and good insulation properties are prompting the considerable market expansion favorably. The requirement for stronger, lightweight materials in the aerospace, defense and wind energy sectors is increasing the level of demand that the market is experiencing. Also, the investments by Major players manufacturing the thermoplastic composites products to meet increasing demand from diverse end-use industries will create an optimistic growth outlook for the market in the forecast period.
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Industry Updates:
Mar 2018 Principals at Hexcel and Arkema have announced that they have signed a strategic alliance to develop thermoplastic composite solutions for the aerospace sector that will coalesce the expertise of Hexcel in carbon fiber manufacture and of Arkema in polyetherketoneketone (PEKK) resins.
Thermoplastic Composites Market Outline 2018, Top Manufactures, Demands Overview, Business Opportunities, in-Depth Analysis and Forecasts to 2023