The global LFT Market is forecast to reach a market size of USD 5,749.3 Million by 2027, and register a significantly high revenue growth rate over the next seven years, according to a new report by Reports and Data. Growing demand for long fiber thermoplastics can be attributed to growth of the electronics industry. Long fiber thermoplastics possess high impact resistance and function as a buffer for delicate electronic components and parts and comply with several regulatory policies and norms in the electronics industry. Long fiber thermoplastics also have very good temperature resistance and low water absorption capacity, which are critical for the proper functioning and safety of electric devices. Furthermore, in electronic applications, long fiber thermoplastics like Polyamides are considered suitable for the passing of specific tests like GWIT, as these have excellent flame regarding capability.

LFT Market Size – USD 2,614.8 Million in 2019, Growth – at a CAGR of 10.3%, Trends –Surging demand for reducing VOC generation

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Further key findings from the report suggest

Polypropylene possesses a tactile, slippery surface and is considered optimal for use in low friction automotive applications, including gears. Polypropylene provides exceptional elasticity and fatigue resistance providing enhanced durability and strength. Also, high electrical resistance of polypropylene finds widespread application in producing electrical products and cables.
Long fiber thermoplastics adaptability to numerous fabrication methods and high temperature resistance has stimulated the market growth. Additionally, long fiber thermoplastics are increasingly used as alternates to metals due to their cost-efficiency.
LFT Market in Europe accounted for the largest revenue share in 2019, owing to growing sales of electric vehicles, growing demand for fuel-efficiency, and stringent regulatory policies to curb vehicle emission in the region. Besides, growing demand for consumer goods and presence of leading aircraft manufacturers in the region drive the market growth.
Key market participants include Lanxess AG, PlastiComp Inc., Solvay, BASF SE, Celanese Corporation, Mitsubishi Chemical Holdings, Daicel Polymer Ltd., Avient Corporation, Toray Industries Inc., and Asahi Kasei Corporation.
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Resin Type Outlook (Revenue, USD Million; 2017-2027)

Polypropylene
Polyamide
Polyether Ether Ketone
Polyphthalamide
Others
Fiber Type Outlook (Revenue, USD Million; 2017-2027)

Glass
Carbon
Others
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)

Automotive
Consumer Goods
Electronics
Sports
Others
Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
The LFT Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the LFT Market.

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Frequently Asked Questions Addressed in the Report:

What is the estimated market revenue growth over the forecast period?
What are the major factors driving the global LFT Market revenue growth?
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Which are the leading players in the global LFT Market?
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LFT Market