Global Long Fiber Thermoplastics Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Long Fiber Thermoplastics Market 2021 (Includes Business Impact of COVID-19)
Global Long Fiber Thermoplastics Market Analysis Industry Trends, Applications Scope, Market Growth, and Global Forecast to 2028 is a recently tracked report. The target market is projected to witness significant CAGR of X.X% over the 10-year forecast period. The global long fiber thermoplastics market has been categorized on the basis of resin type, application, packaging material, distribution channel, and region/ country.
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The global Long Fiber Thermoplastics market size was valued at USD$ 2.52 billion in 2020 and is projected to reachUSD $ 6.91 billion by 2030, and is anticipated to expand at a CAGR of 1065% over the forecast period from 2020 to 2030.


Introduction: Long Fiber Thermoplastics


Thermoplastics are of several types which are used in various engineering applications. These long fiber thermoplastics or thermo-softening plastics soften when heated and also becomes hard when it is cooled. They are used in semi-structural purposes in many applications. These long fiber thermoplastics are a combination of mechanical and thermal properties along with features such as low cost of manufacturing. The thermoplastics have several key properties including better toughness, high strength, durability, lightweight, heat resistance, corrosion resistance, and dimension stability which results in extended product life.


Market Dynamics: Long Fiber Thermoplastics Market


Factors anticipated to support long fiber thermoplastics market growth globally include growing demand for fuel-efficient lightweight vehicles, combined with rising spending capacity of individuals on passenger cars, and development of new technologies and inventions in the field of long fiber thermoplastics by major companies across the globe. Additionally, increasing adoption of polyamide LFT for application in turbocharged engines, crash absorbers, etc., combined with extensive use of the products in producing lightweight structural parts or components of automobiles are factors that are anticipated to drive revenue growth of the global long fiber thermoplastics market. Furthermore, increasing use of long fiber thermoplastics in various other end-use applications such as in sports, electronics, and construction industries is another factor estimated to fuel growth of the target market over the 10-year period. Rapid industrialization, rising demand for fuel-efficient vehicles and aircraft to manufacture lightweight parts instead of metals, and increasing expenditure in the defense sector, coupled with product application in manufacturing body armor is expected to support market growth.

However, stringent government regulations and certain recent products recalls are some major factors that could affect negatively on growth of the global long fiber thermoplastics market.

Trends:

Various prominent players in the global market are aiming at forming efficient distribution channels or network via strategic activities such as collaboration with local market players and other organizations in the industry value chain or supply chain. This trend is among the major trends observed and is anticipated to gain traction and support growth of the global long fiber thermoplastics market.

Segment Analysis:

By Resin Type:

Among the resin types, the polypropylene segment is anticipated to hold a dominant position in the global market, due to increasing adoption of PP resin type by industries such as automotive and consumer goods, among other industries.

By Application:

Among the four major applications, the automotive segment is estimated to record for highest revenue share in the target market, as fiber thermoplastics are highly adopted in the automotive industry to reduce the overall weight of an automobile and manufacture fuel-efficient vehicles in order to meet the required regulations by government.

By Fiber Type:

Among the segments based on fiber type, the long glass fiber thermoplastic segment is projected to dominate in the target market.

Regional Analysis:

The market in North America is anticipated to record highest revenue share in the global long fiber thermoplastics market. This can be primarily attributed to the rapid growth of automotive and aerospace industries in countries in North America. The market in Europe is estimated to be a faster inclining market in the global long fiber thermoplastics market, and is expected to record second-highest share in terms of value over the 10-year forecast period, due to increasing demand for thermoplastic-based composites owing to various benefits offered and growing end-use sectors/industries such as automotive, electrical, electronics, sporting goods, and consumer goods in the region. The market in Asia Pacific is projected to witness fastest growth in the years to come. Latin America and Mea markets are anticipated to register a moderate revenue growth rate in the global long fiber thermoplastics market over the 10-year forecast period.


Below are the active patents related to Long Fiber Thermoplastics Market.


Patent Number: CN104204073A

Long fiber thermoplastic formed with recycled and renewable content

Abstract

A molding composition formula is provided. The molding composition formula includes polypropylene, glass fiber, and a polypropylene substitute including recycled sheet molding composition transfer film. The polypropylene substitute is present in a total weight percentage of 1-35, and also may include natural cellulosic fibers or powders. A process is also provided. The polypropylene substitute is mixed and homogenized and then mixed with polypropylene and additives, and thereafter glass fiber. A reduction in the amount of virgin polypropylene used is reduced compared to conventional thermoplastic glass fiber filled moldings.

Application File Date: 2013-01-07

Application Granted Date: 2018-02-16

Current Assignee: Kang Tingnan Opens Up Structural Plastic Co Ltd, Continental Structural Plastics Inc

Patent Number: US8846189B1

Long fiber thermoplastic thin-walled aeroshells for missile applications and methods of manufacture

Abstract

Aeroshells and methods for manufacturing aeroshells are provided. In this regard, a representative aeroshell for a missile formed of a long fiber thermoplastic composite exhibits a wall thickness of no greater than approximately 0.070

Application File Date: 2010-04-16

Application Granted Date: 2014-09-30

Current Assignee: UAB Research Foundation

Patent Number: US7592388B2

Long fiber-reinforced thermoplastic compositions, articles made therefrom and methods of making the same

Abstract

The present invention relates to a high melt flow thermoplastic resin filled with long fibers, such as long glass fibers, stainless steel fibers, carbon fibers, aramid fibers, or other like fibers, and having high melt flow properties. The high melt flow properties of the thermoplastic resin contribute to its ease of production, allowing for the production of long fiber-reinforced thermoplastic compositions having good dispersion and wet-out in the pellet and molded article, and characterized by low levels of loose fiber in the pellet and/or compound. Although any concentration of fibers may be present in the fiber-reinforced thermoplastic composition, the high melt flow thermoplastic resins are especially suitable for high concentrate long glass fiber-reinforced thermoplastic compositions.

Application File Date: 2006-03-03

Application Granted Date: 2009-09-22

Current Assignee: RTP Co

Global Long Fiber Thermoplastics Market Segmentation:

Segmentation by Resin Type:

  
Polypropylene (PP)
  
Polyamide (PA)
  
Polybutylene Terephthalate (PBT)

Segmentation by Application:

  
Automotive
  
Consumer Goods
  
Sporting Goods
  
Industrial Goods

Segmentation by Fiber Type:

  
Long Glass Fiber Thermoplastic
  
Long Carbon Fiber Thermoplastic


Key Market Players included in the report:


  
Asahi Kasei Corporation (Japan)
  
BASF SE (Germany)
  
Celanese Corporation (US)
  
Coperion GmbH
  
Daicel Polymer Ltd. (Japan)
  
Dieffenbacher GmbH
  
Laxness AG (Germany)
  
Mitsubishi Chemical Holdings (Japan)
  
PlastiComp Inc. (US)
  
PolyOne Corporation (U.S.)
  
PPG Industries Inc. (U.S.)
  
Quadrant AG (Switzerland)
  
RTP Company Inc. (US)
  
SABIC (Saudi Arabia)
  
SGL Group
  
Solvay (Belgium).


Below are the key development related to Long Fiber Thermoplastics Market in 2020 and 2021.


June 2021: Global thermoplastics resin distributor Nexeo Plastics LLC announced the acquisition of Nevicolor SpA, a distributor and compounder of thermoplastics based in Luzzara, Italy. Nexeo is an affiliate of GPD Companies Inc., a group of distributors formed by One Rock Capital Partners. Terms of the transaction were not disclosed. Global thermoplastics resin distributor Nexeo Plastics LLC announced the acquisition of Nevicolor SpA, a distributor and compounder of thermoplastics based in Luzzara, Italy. Nexeo is an affiliate of GPD Companies Inc., a group of distributors formed by One Rock Capital Partners. Terms of the transaction were not disclosed. Nevicolor is a family-founded business that has provided value-added thermoplastic resins, compounds, and application development services for more than 57 years. Customers span the industrial components, healthcare, automotive, advanced packaging, agriculture, and electrical sectors. Nevicolor serves more than 800 customers with a portfolio of over 3,000 grades of polymers, including recycled materials. Source

May 2021: Arlington Capital closes acquisition of Triumph’s composites business, forms Qarbon Aerospace. Private equity firm has acquired Triumph’s composite manufacturing facilities in Milledgeville, Georgia, Red Oak, Texas and Rayong, Thailand. Private equity firm Arlington Capital Partners, (Washington, D.C., U.S.) announced on May 10 that it has completed the acquisition of Triumph Group Inc.’s (Berwyn, Pa., U.S.) composites business, which was originally announced about nine months ago in 2020. Going forward, the business will operate independently as Qarbon Aerospace. Qarbon Aerospace is a leading provider of large, complex structural components and assemblies such as fuselages, wings, flight control surfaces, and engine nacelles. The company operates nearly two million square feet of factory space across three facilities located in Red Oak, Tex., Milledgeville, Ga. and Rayong, Thailand. Qarbon Aerospace has vertically integrated manufacturing capabilities from component fabrication through large-scale assembly as well as proprietary thermoplastics technologies. The company also has longstanding relationships with blue-chip OEM customers and a diversified product portfolio across a variety of successful commercial, defense, and business jet platforms. Source