The Thermoplastic Composites Market is projected to grow from USD 28.09 Billion in 2017 to USD 41.93 Billion by 2022, at a CAGR of 8.34% between 2017 and 2022. The growth of the thermoplastic composites market can be attributed to increased demand for thermoplastic composites from various end-use industries. Thermoplastic composites are being increasingly used in various end-use industries due to their easy recyclability, less curing time, high strength, and increased rigidity.
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Thermoplastic composites offer several advantages unlike thermoset composites, which include less production time for the development of different components using thermoplastic composites, high impact strength of thermoplastic composites, their easy recyclability, and their low moisture absorption rate. Thermoplastic composites are used in the transportation industry as these materials are lightweight and help reduce the weight of automobiles, thereby resulting in decreased CO2 emissions and increased fuel efficiency of vehicles. The aerospace & defense application segment of the Thermoplastic Composites Market is projected to witness the highest growth in terms of both, value as well as volume due to increasing use of thermoplastic composites in different types of commercial aircraft. Thus, the increased use of thermoplastic composites in various applications such as transportation, and aerospace & defense, among others is driving the growth of the Thermoplastic Composites Market across the globe.
Table of Contents
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview
7 Thermoplastic Composites Market, By Fiber Type
8 Thermoplastic Composites Market, By Resin Type
9 Thermoplastic Composites Market, By Product Type
10 Thermoplastic Composites Market, By Application
11 Thermoplastic Composites Market, By Region
12 Competitive Landscape
13 Company Profiles
The Asia Pacific region is the largest market for thermoplastic composites across the globe. The growth of the Asia Pacific thermoplastic composites market can be attributed to the increased use of thermoplastic composites in electrical & electronics and transportation applications. The continuous increase in the consumption of products manufactured from thermoplastic composites in the Asia Pacific region is also fueling the growth of the Asia Pacific thermoplastic composites market across the globe. Increased demand for thermoplastic composites from various end-use industries, formulation of various policies to control CO2 emissions, and rise in demand for environment-friendly products from the region are also fueling the growth of the Asia Pacific thermoplastic composites market. China is the leading market of thermoplastic composites in the Asia Pacific region.
Key players operational in the Thermoplastic Composites Market are Celanese Corporation (US), DuPont (US), Royal DSM N.V. (Netherlands), Koninklijke Ten Cate bv (Netherlands), SABIC (Saudi Arabia), Lanxess AG (Germany), Solvay S.A. (Belgium), BASF SE (Germany), PlastiComp, Inc. (US), PolyOne Corporation (US), and Quadrant AG (Switzerland), among others.
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