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Market for thermoplastic composites expected to reach $31.8 billion by 2025, at a 7.5% CAGR

Published: November 18, 2022

Author: TEXTILE VALUE CHAIN

According to a new market research report, the “Thermoplastic Composites Market by Resin Type (Polypropylene, Polyamide, Polyetheretherketone, Hybrid), Fiber Type (Glass, Carbon, Mineral), Product Type (SFT, LFT, CFT, GMT), End-Use Industry, and Region – Global Forecast to 2025″, The global composites market size is expected to grow from USD 22.2 billion in 2020 to USD 31.8 billion by 2025, at a CAGR of 7.5% during the forecast period. The thermoplastic composites industry is growing due to the increase in the demand for high performance materials with properties such as ability to reform, recyclability, FST propertie, high strength to weight ratio, good tensile strength, electrical conductivity, among others.

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205 Market data Tables
48 Figures
247 Pages and in-depth TOC on “Thermoplastic Composites Market – Global Forecast to 2025″

This report also provides a comprehensive analysis of the companies listed below:

BASF SE (Germany), Celanese Corporation (US), SABIC (Saudi Arabia), DowDuPont Inc. (US), Koninklijke DSM N.V. (Netherlands), Toray Industries, Inc. (Japan), and Lanxess AG (Germany) among others

Impact of COVID-19 on global thermoplastic composites market

COVID-19 has negatively affected the demand for thermoplastic composites across various end-use industries such as aerospace & defense, transportation, wind energy, construction, consumer & electronics goods, and others. The disruption in the supply chain resulting in delays or non-arrival of raw materials, disrupted financial flows, and growing absenteeism among production line workers have compelled OEMs to operate at zero or partial capacities, leading to reduced demand for thermoplastic composites.

Glass fiber composites comprise a major share of the composites market in terms of value and volume.

The glass fiber thermoplastic composites are cheaper as compared to carbon, basalt, and aramid fibers composites. Low cost, ability to blend with all the thermoplastic resins, ease of manufacturing, and comparable properties to other fiber thermoplastic composites are driving the growth of glass fiber thermoplastic composites in various end-use industries such as construction, wind energy, transportation, and consumer goods & electronics.

APAC is expected to account for the largest market share in the thermoplastic composites market during the forecast period.

APAC accounts for the biggest share of the global thermoplastic composites market. The electrical & electronics, automotive, and consumer goods sectors are the major consumers of thermoplastic composites in the region. North America is the second major consumer of thermoplastic composites. Aerospace & defense and automotive are the major industries fueling the growth of the thermoplastic composites market in this region. Moreover, the US is a manufacturing hub of various commercial, military, and private aircraft. However, the COVID-19 outbreak has affected the demand for thermoplastic composites in the region. On the positive side, the pandemic COVID-19 has instigated nations such as India to reduce dependency on imported goods and manufacture parts/components locally. Such initiatives coupled with recovery in the thermoplastic composites end-use industries will increase the demand for thermoplastic composites in APAC.

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