Global Thermoplastic Composites Market was valued at USD 28.19 Billion in 2019 to USD 62.80 Billion by 2027, at a CAGR of 10.53%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Thermoplastic composites have growing applications across different end-use industries such as transportation, electrical, electronics, and aerospace & defense owing to its features. Furthermore, it is extremely strong even with being around 50% lighter than steel as well as 30% lighter than aluminum. All these factors along with properties similar to thermosets have acted as a key driver for the thermoplastic composite market.
Aerospace & defense market was growing at highest CAGR on account of increasing demand for both commercial and fighter jets around the world. Presence of a large number of automotive manufacturers along with growing government investments in the aerospace & defense sector has been key drivers that have boosted the demand for thermoplastic composites market.
North America is the largest market in this region owing to the presence of well-established end-use industries such as aerospace & defense, along with the sports industry. North America is constantly increasing its military power to lead in the list of major military powers. Europe is following North America in the thermoplastic composites market. Major contributors to the Europe market are U.K, France, Germany and Italy. Aerospace and automotive industries in Europe are the major consumers of thermoplastic composites, which is driving the growth of the Europe market.
Scope of the Report:
Thermoplastic Composites Market, by Fiber Type:
• Carbon Fiber
• Glass Fiber
Thermoplastic Composites Market, by Resin Type:
Thermoplastic Composites Market, by Application:
• Aerospace & Defense
• Electrical & Electronics
Thermoplastic Composites Market, by Product Type:
• Long Fiber
• Continuous Fiber
• Short Fiber
• Glass Mat
Thermoplastic Composites Market, by Geography:
• Asia Pacific
• North America
• Latin America
• Middle East & Africa
Key players operating in the Thermoplastic Composites Market:
• Celanese Corporation (US)
• DuPont (US)
• Royal DSM N.V. (Netherlands)
• Koninklijke Ten Cate (Netherlands)
• SABIC (Saudi Arabia)
• Lanxess AG (Germany)
• Solvay S.A. (Belgium)
• BASF SE (Germany)
• PlastiComp, Inc. (US)
• PolyOne Corporation (US)
• Quadrant AG (Switzerland)
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