Thermoplastic Composites Market Growth 2024, Industry Trends, Demand and Analysis Report By 2032

IMARC Group’s latest report, titled “Thermoplastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the thermoplastic composites market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. the global thermoplastic composites market size reached US$ 18.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.

Thermoplastic Composites Market Trends:

The global thermoplastic composites market is witnessing substantial growth, driven by the increasing demand for lightweight and high-strength materials in the automotive and aerospace industries. Thermoplastic composites offer significant weight reduction, fuel efficiency, and enhanced performance, making them ideal for these sectors. Additionally, the rising emphasis on sustainable and environmentally friendly materials is propelling the adoption of thermoplastic composites, as they are recyclable and reduce carbon emissions.

The construction industry also contributes to market growth, with thermoplastic composites being utilized for their durability, corrosion resistance, and ease of installation. Moreover, advancements in manufacturing technologies, such as automated fiber placement and additive manufacturing, are enhancing the production efficiency and cost-effectiveness of thermoplastic composites.

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Leading Key Players in the Thermoplastic Composites Industry:

• Arkema

• Avient Corporation

• BASF SE

• Celanese Corporation

• DuPont de Nemours Inc

• Hexcel Corporation,

• Koninklijke DSM N.V

• Lanxess AG

• Mitsubishi Chemical Advanced Materials (Mitsubishi Chemical Holdings Corporation)

• PPG Industries Inc.,

• SABIC (Saudi Arabian Oil Co.)

• Solvay

Thermoplastic Composites Market Growth Analysis:

The scope of the global market encompasses a wide range of applications across various industries, including automotive, aerospace, construction, consumer goods, electronics, and sporting goods. The market is characterized by the presence of numerous manufacturers, suppliers, and distributors, contributing to its competitive nature. The market is segmented based on resin type, fiber type, application, and region. Resin types include polypropylene, polyamide, polyether ether ketone (PEEK), and others, while fiber types encompass glass fiber, carbon fiber, and aramid fiber. Regionally, the market covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to witness significant growth, driven by rapid industrialization, urbanization, and increasing investments in infrastructure development.

Market growth is further supported by favorable government regulations promoting the use of lightweight and sustainable materials. Furthermore, the ongoing advancements in composite manufacturing processes and the development of high-performance thermoplastic composites are creating a positive market outlook, and fostering long-term growth.

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Key Market Segmentation:

Breakup by Fiber Type:

• Glass Fiber

• Carbon Fiber

• Others

Breakup by Product:

• Glass Mat Thermoplastics (GMT)

• Advanced Thermoplastic Composites (ATC)

Breakup by Resin Type:

• Polypropylene (PP)

• Polyamide (PA)

• Polyether ether ketone (PEEK)

• Others

Breakup by End User Industry:

• Automotive

• Aerospace and Defense

• Oil and Gas

• Construction

• Medical

• Others

Breakup by Region:

• North America (United States, Canada)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

 Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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