DUBLIN, July 29, 2022 /PRNewswire/ — The “Thermoplastic Composite Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global thermoplastic composite market is expected to grow from $16.71 billion in 2021 to $17.99 billion in 2022 at a compound annual growth rate (CAGR) of 7.68%. The thermoplastic composite market is expected to grow to $22.83 billion in 2026 at a CAGR of 6.14%.
Asia Pacific was the largest region in the thermoplastic composite market in 2021, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoplastic composite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing demand for electric vehicles is expected to boost the demand for thermoplastic composites during the forecast period. The demand for electric vehicles is expected to increase in the next few years as they are environment-friendly and are contributes towards less carbon emission in the transportation industry.
Thermoplastic composites provide excellent strength and play a significant role in the reduction of the overall weight of vehicles which makes them useful in the production of vehicles components. According to the article published by RBSA Advisors in December 2021the Indian electric vehicles market is estimated to grow with a CAGR of 90% this decade touching $150 billion by 2030.
Moreover, according to The China Association of Automobile Manufacturers (CAAM), new energy vehicles (NEV) sales in China are likely to rise to 3 million in 2021 from 1.4 million in 2020. Hence, the growing market for electric vehicles will accelerate the production of electric vehicles components and contributed to growth in demand for thermoplastic components during the forecast period.
The development of low-cost production technology is the new trend in the thermoplastic composites market. The companies operating in thermoplastic composites are increasingly investing in R&D for the development of new products with advanced technologies to meet technical demands from specific end customers across the globe.
For instance, In February 2022SABIC, a global leader in the chemical industry with a partnership with Dongfeng Motors, a China-based truck manufacturer for the development of a novel plastic composite hybrid solution to produce a strong lightweight truck-mounted toolbox. Furthermore, In April 2019, Saudi Arabia-based firm SABIC announced the development of the most advanced and versatile thermoplastic materials to meet the modern-day demand from the aerospace industry.
1) By Product Type: Short Fiber Thermoplastics; Glass Mat Thermoplastics; Long Fiber Thermoplastics; Continuous Fiber Thermoplastics
2) By Fiber Type: Glass Fiber; carbon fiber; Other Fiber Types
3) By Resin Type: Polypropylene (PP); Polyamide (PA); Polyetheretherketone (PEEK); Other Resin Types
4) By End-Use Industry: Transportation; consumer goods & electronics; wind energy; Sports & Leisure; construction; Aerospace & Defense; Other End Users
Key Topics Covered:
1. Executive Summary
2. Thermoplastic Composite Market Characteristics
3. Thermoplastic Composite Market Trends And Strategies
4. Impact Of COVID-19 On Thermoplastic Composite
5. Thermoplastic Composite Market Size And Growth
6. Thermoplastic Composite Market Segmentation
7. Thermoplastic Composite Market Regional And Country Analysis
8. Asia-Pacific Thermoplastic Composite Market
9. China Thermoplastic Composite Market
10. India Thermoplastic Composite Market
11. Japan Thermoplastic Composite Market
12. Australia Thermoplastic Composite Market
13. Indonesia Thermoplastic Composite Market
14. South Korea Thermoplastic Composite Market
15. Western Europe Thermoplastic Composite Market
16. UK Thermoplastic Composite Market
17. Germany Thermoplastic Composite Market
18. France Thermoplastic Composite Market
19. Eastern Europe Thermoplastic Composite Market
20. Russia Thermoplastic Composite Market
21. North America Thermoplastic Composite Market
22. USA Thermoplastic Composite Market
23. South America Thermoplastic Composite Market
24. Brazil Thermoplastic Composite Market
25. Middle East Thermoplastic Composite Market
26. Africa Thermoplastic Composite Market
27. Thermoplastic Composite Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Thermoplastic Composite Market
29. Thermoplastic Composite Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/rz6cy7
Research and Markets
Laura WoodSenior Manager
For EST Office Hours Call +1-917-300-0470
For US/CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside US): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/thermoplastic-composite-global-market-report-2022-development-of-low-cost-production-technology-opening-new-growth-avenues- for-key-players-301596005.html
SOURCE Research and Markets