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Thermoplastic Composites Market Trends and Forecast

The future of the global thermoplastic composites market looks promising with opportunities in the transportation, consumer goods, industrial, and construction market. The global thermoplastic composites material market is expected to reach an estimated $26 billion by 2030 with a CAGR of 4% 2023 to 2030. The major drivers for this market are growing demand for lightweight and environmentally sustainable materials, and the replacement of metals with composites in different end use industries.
  • Lucintel forecasts that transportation by end  use will remain the largest end use segment over the forecast period due to increasing demand for lightweight materials
  • SFT thermoplastic composites will remain the largest segment by material over the forecast period due to its wide usage in injection molding part fabrication.
  • Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries.
Thermoplastic Composites Market by End Use, Material Type, Resin, and Reinforcement
 

Asia Pacific is expected to remain the largest region in the Thermoplastic Composites Market

  1. United States: In the US, companies like Hexcel and Teijin are leading the charge in thermoplastic composites innovation. The government has announced grants for research projects focused on improving manufacturing processes and reducing material costs, aiming to double the market size by 2030.
  2. China: China's thermoplastic composites market is booming, with companies like Kingfa Sci. & Tech. Co., Ltd. investing in production facilities. The government has unveiled policies to promote the adoption of lightweight materials in automotive and aerospace sectors, with a target of capturing 30% market share by 2025. 
  3. Germany: German companies such as LANXESS and Covestro are at the forefront of thermoplastic composites technology. The government has launched initiatives to support the development of recyclable thermoplastics, aiming to achieve carbon neutrality in the composites industry by 2040.
  4. Japan: Japanese firms like Toray Industries are driving innovation in thermoplastic composites. The government has set targets to increase the use of lightweight materials in transportation by 20% by 2030, offering subsidies for companies investing in advanced manufacturing technologies. 
  5. France: France's thermoplastic composites sector is expanding, with companies like Arkema investing in research and development. The government has announced tax incentives for companies developing sustainable composites, with a goal to achieve 50% renewable content in composites by 2030. 

Emerging Trends in the Thermoplastic Composites Market

Emerging trends, which have a direct impact on the dynamics of the industry, increasing inter-material competition and increasing focus on continuous fiber reinforced thermoplastic composites.
A total of 124 figures / charts and 85 tables are provided in this 260-page report to help in your business decisions. A sample figure with insights is shown below. 
Thermoplastic Composites Market by Segments
 

Thermoplastic Composites Market by Segment

The study includes a forecast for the global thermoplastic composites market by end use, material type, resin, reinforcement, and region as follows:

By End Use [Value ($M) and Volume (Kilotons) Shipment Analysis for 2018 – 2030]:

By Material Type [Value ($M) and Volume (Kilotons) Shipment Analysis for 2018 – 2030]:

By Reinforcement Type [Value ($M) and Volume (Kilotons) Shipment Analysis for 2018 – 2030]:

By Resin Type [Value ($M) and Volume (Kilotons) Shipment Analysis for 2018 – 2030]:

By Region [Value ($M) and Volume (Kilotons) Shipment Analysis for 2018 – 2030]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Thermoplastic Composites Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies thermoplastic composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the thermoplastic composites companies profiled in this report include.

Recent Development in theThermoplastic Composites Market

  • Hexcel Corporation: Announced advancements in their thermoplastic composites production, focusing on lightweight and high-strength materials for aerospace applications, enabling the production of more fuel-efficient aircraft​ 
  • Toray Industries: Invested in research and development for their Hi-Rate Composite Aircraft Manufacturing (HiCAM) project, aiming to enhance the production efficiency and structural performance of thermoplastic composites used in the aerospace industry​
  • Solvay: Expanded its portfolio of thermoplastic composites, targeting the automotive sector with materials designed to reduce vehicle weight and improve fuel efficiency, aligning with stringent emission regulations​ 
  • Exel Composites: Developing new thermoplastic pultrusion technologies to produce recyclable and lightweight composite materials for various industrial applications, including automotive and construction​

Features of Thermoplastic Composites Market

  • Market Size Estimates: Thermoplastic composites market size estimation in terms of value ($M) and Volume (kilotons)
  • Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
  • Segmentation Analysis: Market size by end use, material type, resin, reinforcement and region
  • Regional Analysis: Thermoplastic composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different end use industry, product type and regions for the thermoplastic composites market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the thermoplastic composites market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the thermoplastic composites market size?
Answer: The global thermoplastic composites market is expected to reach an estimated $26 billion by 2030.  
Q2. What is the growth forecast for thermoplastic composites market?
Answer: The thermoplastic composites market is expected to grow at a CAGR of 4% from 2023 to 2030.           
Q3. What are the major drivers influencing the growth of the thermoplastic composites market?
Answer: The major drivers for this market are growing demand for lightweight and environmentally sustainable materials, and the replacement of metals with composites in different end use industries.
Q4. What are the major applications or end use industries for thermoplastic composites?
Answer: Transportation, consumer goods, industrial, and construction are the major end use industries for thermoplastic composites.  
Q5. What are the emerging trends in thermoplastic composites market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing inter-material competition and increasing focus on continuous fiber reinforced thermoplastic composites.
Q6. Who are the key thermoplastic composites companies?
Answer: Some of the key thermoplastic composites companies are as follows:
Q7.Which thermoplastic composites material segment will be the largest in future?
Answer: Lucintel forecasts that SFT thermoplastic composites will remain the largest segment over the forecast period due to its wide usage in injection molding part fabrication.
Q8: In thermoplastic composites market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years  
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global thermoplastic composites market by end use (personal use and commercial use), product type (transportation, consumer goods, construction, industrial, and others), material type (SFT, LFT, GMT, and CFT), reinforcement type (glass fiber, and carbon fiber and other), resin type (PP, PA, PBT, others) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

For any questions related to thermoplastic composites market or related to thermoplastic composites market share, thermoplastic composites market analysis, thermoplastic composites market size, thermoplastic suppliers, and composite thermoplastics, write to Lucintel analysts at helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
 
2. Global Thermoplastic Composites Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: Global Thermoplastic Composites Market Trends and Forecast
3.3: Global Thermoplastic Composites Market by End Use
3.3.1: Transportation
3.3.2: Industrial
3.3.3: Consumer Goods
3.3.4: Constructions
3.3.5: Other End Uses
3.4: Global Thermoplastic Composites Market by Material Type
3.4.1: Short Fiber Thermoplastic
3.4.2: Long Fiber Thermoplastic
3.4.3: Continuous Fiber Thermoplastic
3.4.4: Glass Mat Thermoplastic
3.5: Global Thermoplastic Composites Market by Resin Type
3.5.1: Polypropylene (PP)
3.5.2: Polyamide (PA)
3.5.3: Polybutylene Terephthalate (PBT)
3.5.4: Other Resins
3.6: Global Thermoplastic Composites Market by Reinforcement Type
3.6.1: Glass Fiber
3.6.2: Carbon Fiber & Others
 
4. Market Trends and Forecast Analysis by Region
4.1: Global Thermoplastic Composites Market by Region
4.2: North American Thermoplastic Composites Market
4.2.1: Market by End Use Industry: Transportation, Industrial, Consumer Goods, Construction, and Others
4.3: European Thermoplastic Composites Market
4.3.1: Market by End Use Industry: Transportation, Industrial, Consumer Goods, Construction, and Others
4.4: APAC Thermoplastic Composites Market
4.4.1: Market by End Use Industry: Transportation, Industrial, Consumer Goods, Construction, and Others
4.5: ROW Thermoplastic Composites Market
4.5.1: Market by End Use Industry: Transportation, Industrial, Consumer Goods, Construction, and Others
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Thermoplastic Composites Market by End Use
6.1.2: Growth Opportunities for the Global Thermoplastic Composites Market by Material Type
6.1.3: Growth Opportunities for the Global Thermoplastic Composites Market by Resin Type
6.1.4: Growth Opportunities for the Global Thermoplastic Composites Market by Reinforcement
6.1.5: Growth Opportunities for the Global Thermoplastic Composites Market by Region
6.2: Innovations in Thermoplastic Composites Market
6.3: Emerging Trends in the Global Thermoplastic Composites Market
6.4: Strategic Analysis
6.4.1: New Product Development
6.4.2: Capacity Expansions
6.4.3: Mergers and Acquisitions 
 
7. Company Profiles of Leading Players
7.1: Toray Industries Inc.
7.2: Solvay
7.3: Celanese
7.4: SABIC
7.5: BASF SE
7.6: DuPont
7.7: LANXESS
7.8: Hanwha Corporation
7.9: RTP Company

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Full Report: Thermoplastic Composites Market: Trends, Opportunities and Competitive Analysis [2024-2030] Full Report $ 4,850
124 figures/charts and 85 tables are provided in this 260- page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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