According to the recent study the long fiber thermoplastics market is projected to reach an estimated $1.4 billion by 2028 from $1.1 billion in 2022, at a CAGR of 4.7% from 2022 to 2028. Growth in this market is primarily driven by increasing demand for lightweight parts with high performance benefits in the automotive industry helped to boost the global demand for long fiber thermoplastics.
Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in long fiber thermoplastics market by end use (automotive, consumer goods, industrial goods, and others), material forms (LFRT and D-LFT), fiber type (glass fiber, carbon fiber and others), resin type (polypropylene, polyamide, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Automotive industry market is expected to remain the largest segment during the forecast period.”
Based on end use, the long fiber thermoplastics market is segmented into automotive automotive, consumer goods, industrial goods, and others. Lucintel forecasts that the automotive industry market is expected to remain the largest segment due to increasing demand for long fiber thermoplastics based plastic products in automotive industry.
“Within the long fiber thermoplastics market, the long fiber reinforced thermoplastic (LFRT) segment is expected to remain the largest material form”
Based on material form the long fiber reinforced thermoplastic (LFRT) segment is expected to witness the highest growth over the forecast period due to its better cleansing and moisturizing properties.
“Europe will dominate the long fiber thermoplastics market in near future”
Europe is expected to remain the largest region by value and volume and ROW is expected to experience the highest growth over the forecast period due to growth in end use industries.
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Major players of long fiber thermoplastics 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, RTP Company, Solvay S.A., JNC Corporation, Borealis AG, TechnoCompound, Sambark LFT Inc., Xiamen LFT Composites, Avient, and Celanese Corporation are among the major long fiber thermoplastics 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/long-fiber-thermoplastics-market.aspx or [email protected]