What are the Known and Unknown Adjacencies Impacting the Long Fiber Thermoplastics Market

PUNE, India, 2021-Aug-25 — /EPR Network/ — Various advantages of the use of Long Fiber Thermoplastics (LFT) over conventional materials has led to their increasing adoption in the automotive industry

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Europe region projected to be the fastest-growing market for Long Fiber Thermoplastics (LFT) during the forecast period. The growth of the long fiber thermoplastics market in Europe is mainly driven by the growing demand from the automotive industry. Growth in the automotive sector in Europe is higher as compared to other regions, owing to the presence of established automotive manufacturers in the region. Germany led the long fiber thermoplastics market and accounted for a share of 29.55% of the market in Europe in 2015.

Long fiber thermoplastics are majorly used in the automotive and electrical & electronics industries. These composites exhibit high strength, stiffness, impact strength at high temperatures; high shear strength; and excellent creep and fatigue resistance and surface finish. Long fiber thermoplastics also help in weight reduction and improved structural performance and aid automotive manufacturers to produce structural components that can substitute conventional metal solutions to obtain lower weight and fuel efficiency.

Long glass fibers are common reinforcements used in most end-market applications for long fiber thermoplastics. Various glass fibers, such as E-glass, S-glass, and ER-glass fibers are used according to the requirements of specific applications. Glass fibers are used in different applications, such as automotive, electrical & electronics, and marine, among others. These fibers account for over 90% of reinforcements used in composite consumption. Carbon fibers are high-cost materials used in high-end applications, such as aerospace, industrial parts, and sporting goods, as they are comparatively lightweight and strong.

Polypropylene resin is projected to be the fastest-growing segment of the market, segmented based on resin type, during the forecast period. Weight reduction is a major focus in the automotive industry, as it facilitates enhanced fuel economy and decreased emissions. Therefore, various combinations of polypropylene resins and fibers are used in the industry.

Key players in the long fiber thermoplastics market have adopted new product developments or launches, expansions, and agreements & partnerships strategies in recent years. Major companies operating in the market include Celanese Corporation (U.S.), PolyOne (U.S.), Solvay S.A. (Belgium), PlastiComp Inc. (U.S.), and RTP Company (U.S.).