Thermoplastic Resin Market in the Composites Industry to Reach US$ 15.2 Billion in 2024, Says Stratview Research

DETROIT, Aug. 1, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Thermoplastic Resin Market in the Composites Industry by Resin Type (PP, PA, PBT, PPS, PC, and Others), by Compound Type (SFRT, LFRT, GMT, and CFRT), by End-Use Industry Type (Transportation, Consumer Goods, Electrical & Electronic, and Others), by Manufacturing Process Type (Injection Molding, Compression Molding, and Others), by Composite Type (GFRP and CFRP), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.  

This report, from Stratview Research, studies the global flame-retardant resin market in the composites industry over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.

Thermoplastic Resin Market in the Global Composites Industry: Highlights

As per Stratview Research, thermoplastic resin market in the global composites industry is projected to reach US$ 15.2 billion in 2024 and offers favorable growth opportunities in the entire ecosystem of the market. Increasing automobile production, development of new composite applications using thermoplastic composites, rising demand for sustainable (recycling) and fast-curing materials, increasing demand for lightweight components to address stringent regulations such as CAFÉ Standards, and increasing penetration of composite materials by replacing metals are the key factors that are bolstering the demand for thermoplastic resins in the composites industry.

Based on the resin type, the market is segmented as Polypropylene, Polyamide, Polybutylene Terephthalate, Polyphenylene Sulfide, Polycarbonate, and Other Resins. Polyamide (PA) is expected to remain the most dominant resin type in the market during the forecast period. This resin is most widely used in short fiber-reinforced thermoplastic (SFRT) applications.

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Based on the compound type, SFRT generates the highest demand for thermoplastic resins and is forecasted to remain the largest compound type during the forecast period. It is the most dominant compound type in all the major end-use industries including transportation, consumer goods, and electrical & electronics. CFRT and LFRT are relatively smaller segments but are gaining market tractions by registering an increased acceptance in the automotive and aerospace & defense industries. 

As per the report, transportation is projected to remain the largest market for thermoplastic resins in the composites industry during the forecast period. This segment is the second-largest composites market (thermoset + thermoplastic) after building & construction. The segment is also likely to witness the highest growth over the next five years, driven by stringent government regulations, such as CAFÉ Standards and EU's directive on carbon emission reductions. All the major automakers are forming strategic alliances with the composite material suppliers to develop advanced thermoplastic composites that can fabricate parts in less than five minutes and offer significant weight savings. They are increasingly incorporating advanced materials including composites in the structural and semi-structural applications of their vehicles by replacing traditional metals, such as steel.

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In terms of region, Asia-Pacific is expected to remain the largest and the fastest-growing market for thermoplastic resins in the composites industry during the forecast period. High production of automobiles, continuous shift of electronic industry from the developed economies to the developing Asian economies and increasing penetration of composites are the major growth drivers of thermoplastic resin market in the Asia-Pacific's composites industry.

BASF SE, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Solvay S.A., Lanxess, LyondellBasell Industries N.V., and SABIC are the key suppliers of thermoplastic resins to the composites industry. Most of the players are forward integrated and supply reinforced compounds. New product development, wide geographical reach, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market throughout the globe.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the thermoplastic resin market in the global composites industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:

Thermoplastic Resin Market in the Composites Industry by Resin Type:

• Polypropylene (PP) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyamide (PA) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polybutylene Terephthalate (PBT) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyphenylene Sulfide (PPS) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polycarbonate (PC) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Other Resins (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermoplastic Resin Market in the Composites Industry by Compound Type:

• Short Fiber-Reinforced Thermoplastics (SFRTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Long Fiber-Reinforced Thermoplastics (LFRTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Continuous Fiber-Reinforced Thermoplastics (CFRTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Glass-Mat Thermoplastics (GMTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermoplastic Resin Market in the Composites Industry by End-Use Industry Type:

• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermoplastic Resin Market in the Composites Industry by Composite Type:

• Glass Fiber-Reinforced Plastics (GFRPs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Carbon Fiber-Reinforced Plastics (CFRPs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermoplastic Resin Market in the Composites Industry by Manufacturing Process Type:

• Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermoplastic Resin Market in the Composites Industry by Region:

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the world (Country Analysis: The Middle East, Latin America, and Others)

Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Composites Industry

Related premium market reports in the advanced materials industry are:
High-Temperature Composite Resins Market by Resin Type (BMI, Cyanate Ester, Polyimide, Thermoplastics, and Others), by End-Use Industry Type (Aerospace & Defense, Transportation, and Others), by Manufacturing Process Type (Prepreg Layup, RTM, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
Flame-Retardant Resin Market in the Composites Industry by Resin Type (Phenolic Resin, Polyester Resin, Epoxy Resin, and Others), by Composites Type (Glass Composites and Others), by End-Use Industry (Aerospace & Defense, Transportation, Building & Construction, Electrical & Electronic, Marine, Pipe & Tank, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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