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Global Thermoplastic Composites Market Size, Share, Growth: By Resin Type: Polypropylene (PP), Polyamide (PA), Polyether Ether Ketone (PEEK), Others; By Fibre Type: Glass Fibre, Carbon Fibre, Others; By Product; By End Use; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Thermoplastic Composites Market Outlook
The global thermoplastic composites market size was approximately USD 18.85 billion in 2023. The market is assessed to grow at a CAGR of 5.7% between 2024 and 2032, reaching a value of around USD 31.34 billion by 2032.
Key Trends in the Market
Thermoplastic composite materials are materials made by combining different types of plastics and can be modified for use in a variety of applications. They possess characteristics such as lightweight, superior strength, and low processing cost, which makes them highly valuable in different sectors as an alternative to metals.
- One of the major factors driving the thermoplastic composites market demand is constructive attributes such as low density, excellent durability, and superior environmental resistance of the material, which makes it preferable in various end-use sectors such as automotive, aerospace, and construction.
- The recyclability of thermoplastic composites is another prominent trend aiding the thermoplastic composites market growth. These composites are easy to melt and mould as compared to thermoset composites and can be further reused and recycled to reduce waste and promote sustainability.
- The surge in the incorporation of innovative production methods such as 3D modelling and computer-aided design (CAD), through which the composite parts can be designed in close collaboration with customers for increased precision, is favouring the thermoplastic composites market expansion.
- The growing application of thermoplastic composites in the mobility and transportation sectors is propelling the market demand. For example, in July 2022, AIMPLAS, a plastics technology centre, collaborated with the Valencian Regional Government’s Ministry of Innovation, Universities, Science and Digital Society to develop the VETERIA21 project, which aims to employ thermoplastic compositions and replace metals in electric vehicle battery casings.
Global Thermoplastic Composites Market Segmentation
Based on resin type, the market is segmented into polypropylene (PP), polyamide (PA), and polyether ether ketone (PEEK), among others. On the basis of fibre type, the market is divided into glass fibre, and carbon fibre, among others.
The market segmentation, based on product, includes glass mat thermoplastics (GMT) and advanced thermoplastic composites (ATC). On the basis of end use, the market is divided into automotive, aerospace and defence, electrical and electronics, construction, and medical, among others. The major regional markets for thermoplastic composites include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global thermoplastic composites market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Arkema S.A.
- Solvay S.A.
- SGL Carbon SE
- Mitsubishi Chemical Group Corp.
- Teijin Ltd.
- Avient Corporation
- Celanese Corporation
- Toray Industries Inc.
- Lanxess AG
- Avanco GmbH
- Others
Market Share by End Use
As per the global thermoplastic composites market analysis, the aerospace and defence sector occupies a substantial market share, due to the growing applications of thermoplastic composites in structural and non-structural parts of aircraft, including clips, cleats, brackets, and floor panels. Developmental efforts by aerospace engineers in replacing metallic and thermoset composite parts with thermoplastic composite parts due to their cost-effectiveness and lightweight benefits also boost the market growth.
Market Share by Region
The Asia Pacific holds a significant portion of the global thermoplastic composites market share, due to rapid industrialisation. The popularity of thermoplastic composites in the region is increasing due to their demand in end-use sectors such as consumer goods and electronics, transportation, defence, and aerospace, among others. The growing production of electric vehicles in China is also expected to escalate the demand for thermoplastic composites in the coming years.
The rise in innovative product launches by market players in the region is also expected to support market growth. For example, in May 2023, Avient Corporation launched ComplÄ“t™ and OnForce™ long fibre reinforced thermoplastic composites in Asia as an ideal alternative to metals, due to their stiffness, strength, and extremely lightweight.
Competitive Landscape
SGL Carbon SE is a global specialist in graphite and fibre composite materials that has more than 29 high-performing sites in North America, Europe, and Asia. It provides services and solutions in various sectors, including automotive, aerospace, solar, and wind energy, and manufacturers of semiconductors, LEDs, and lithium-ion batteries.
Mitsubishi Chemical Group Corp. is a global leader in high-performing thermoplastics. It was founded in 1933 and is headquartered in Tokyo, Japan. It has developed a high-performing carbon fibre composite material that is impregnated with engineering plastics.
Avient Corporation specialises in polymer formulations, colour and additive systems, and packaging solutions. It deals in multiple products, including advanced composites, engineered polymer solutions, long fibre technology, and thermoplastic elastomers, among others.
Other global thermoplastic composites market players include Arkema S.A., Solvay S.A., Teijin Ltd., Celanese Corporation, Toray Industries Inc., Lanxess AG, and Avanco GmbH, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin Type |
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| Breakup by Fibre Type |
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| Breakup by Product |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Thermoplastic Composites Market Analysis
8.1 Key Industry Highlights
8.2 Global Thermoplastic Composites Historical Market (2018-2023)
8.3 Global Thermoplastic Composites Market Forecast (2024-2032)
8.4 Global Thermoplastic Composites Market by Resin Type
8.4.1 Polypropylene (PP)
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Polyamide (PA)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Polyether Ether Ketone (PEEK)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Thermoplastic Composites Market by Fibre Type
8.5.1 Glass Fibre
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Carbon Fibre
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Thermoplastic Composites Market by Product
8.6.1 Glass Mat Thermoplastics (GMT)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Advanced Thermoplastic Composites (ATC)
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Thermoplastic Composites Market by End Use
8.7.1 Automotive
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Aerospace and Defence
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Electrical and Electronics
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Construction
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Medical
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Others
8.8 Global Thermoplastic Composites Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Thermoplastic Composites Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Thermoplastic Composites Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Thermoplastic Composites Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Thermoplastic Composites Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Thermoplastic Composites Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Arkema S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Solvay S.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 SGL Carbon SE
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mitsubishi Chemical Group Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Teijin Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Avient Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Celanese Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Toray Industries Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Lanxess AG
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Avanco GmbH
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Thermoplastic Composites Market: Key Industry Highlights, 2018 and 2032
2. Global Thermoplastic Composites Historical Market: Breakup by Resin Type (USD Billion), 2018-2023
3. Global Thermoplastic Composites Market Forecast: Breakup by Resin Type (USD Billion), 2024-2032
4. Global Thermoplastic Composites Historical Market: Breakup by Fibre Type (USD Billion), 2018-2023
5. Global Thermoplastic Composites Market Forecast: Breakup by Fibre Type (USD Billion), 2024-2032
6. Global Thermoplastic Composites Historical Market: Breakup by Product (USD Billion), 2018-2023
7. Global Thermoplastic Composites Market Forecast: Breakup by Product (USD Billion), 2024-2032
8. Global Thermoplastic Composites Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Thermoplastic Composites Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Thermoplastic Composites Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Thermoplastic Composites Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Thermoplastic Composites Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 18.85 billion.
The market is estimated to grow at a CAGR of 5.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 31.34 billion by 2032.
The market is being driven by the growing use of thermoplastic composites in different sectors including aerospace and defence, transportation, and electric vehicles as well as the easy availability of thermoplastic raw materials like filaments and tapes.
The key trends aiding the market expansion include the increase in the application of thermoplastic composites due to their benefits including low density and good strength and the rising demand for sustainable materials.
The major resins considered in the market report are polypropylene (PP), polyamide (PA), and polyether ether ketone (PEEK), among others.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major players in the market are Arkema S.A., Solvay S.A., SGL Carbon SE, Mitsubishi Chemical Group Corp., Teijin Ltd., Avient Corporation, Celanese Corporation, Toray Industries Inc., Lanxess AG, and Avanco GmbH, among others.
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