세계의 장섬유 열가소성수지(LFTP) 시장(2024-2031년)

Overview

Global Long Fiber Thermoplastics Market reached US$ 4.2 billion in 2023 and is expected to reach US$ 8.7 billion by 2031, growing with a CAGR of 9.5% during the forecast period 2024-2031.

The development of new types of long fiber thermoplastics will continue to augment global market growth. For example, in November 2023, PlastiComp, a U.S.-based manufacturer of plastics, announced the development of a new type of carbon-fiber reinforced thermoplastic composite. New types of thermoplastics will be commercialized in the coming years.

The difficulty in lowering production costs will continue to remain a key handicap for market growth. Even as scientists are experimenting with techniques of production, mass production still remains unfeasible. Lowering costs is essential to increase the adoption of long fiber thermoplastics in new engineering applications.

Dynamics

Ongoing Shift Towards Electric Vehicles

Over the past two years, the automotive industry is increasingly shifting towards the adoption of electric vehicles. Major carmakers like Volkswagen, Nissan, General Motors and Ford are gradually expanding their lineup of electric vehicles, while EV-exclusive companies like BYD, Fisker Rivian and Tesla are focused on expanding their product range with new launches. Long fiber thermoplastics are being used to manufacture lightweight components for various EV subsystems.

The growth in passenger vehicle sales in markets like India, will also boost automotive demand for long fiber thermoplastics. For instance, in March 2024, VinFast, a Vietnamese EV brand, announced plans to establish a new production facility in southern India. The new facility will construct vehicles for the domestic and export market.

Increasing Usage of Loitering Munitions for Warfare

Both sides in the Russia-Ukraine war are using loitering munitions for anti-personnel and anti-armour warfare. It greatly improves the ability of troops to carry out various complex ground operations without actually endangering their safety in a combat environment and without needing expensive air-to-ground missiles.

The usage of thermoplastic composites in the construction of loitering munitions offers various advantages. Firstly, it reduces the overall weight of the munition, giving it longer range and secondly, it minimizes the usage of metal parts, rendering it difficult to detect by traditional radar systems. As more countries adopt loitering munitions as part of their arsenal, it will boost the demand for long fiber thermoplastics from defence equipment manufacturing companies.

High Cost of Processing and Manufacturing

Long fiber thermoplastics are manufactured through an intensive process that involves molding, cooling, curing and trimming before final inspection and packaging. The entire production process is relative novel and involves the usage of highly complex machinery. Given its overall limited production, it leads to increased prices for the final product.

The relatively high cost of long fiber thermoplastics remains a stumbling block for market growth. Alhtough some new economical production techniques have been developed, they are yet to be adopted for mass production. As long as the cost of long fiber thermoplastics remains high, end-users will continue to favor more economical alternatives, thus reducing the scope of future growth.

Segment Analysis

The global long fiber thermoplastics market is segmented based on resin, fiber, manufacturing process, application, end-user and region.

The Automotive Industry Will Continue to be a Leading End-user

The global automotive industry is currently shifting towards the adoption of electric and hybrid vehicles. As such, the main priority for automakers is to ensure that electric vehicles are more lightweight and have longer range capacity. Therefore, most automakers are expanding the usage of long fiber thermoplastics for achieving targeted weight reduction.

The thermoplastics are also witnessing a surge in adoption in the aerospace industry, particularly in the manufacturing of unmanned aerial vehicles (UAV) for reconnaissance and combat applications. With drones taking over many of the tasks traditionally reserved for manned aircrafts, their usage in the aerospace industry will increase over the upcoming years.

Geographical Penetration

Asia-Pacific Will Have the Largest Market Share

Asia-Pacific will have the largest share in the global market, given China's lead in the development of electric vehicles. In 2023, China overtook Japan to become the largest automotive exporter in the world. Chinese automakers are having state backing and are looking to enter new export markets in Africa and South America. The demand for long fiber thermoplastics will only continue to increase in the future.

In recent years, many multinational companies have become vary of increasing geopolitical tensions with China and are opting to outsource their production facilities to India. The country has had notable success in attracting electronics manufacturers to up production centers. The shifting of electronics production to India will give rise to new growth opportunities for the market in Asia-Pacific.

COVID-19 Impact Analysis

Fulfilling existing contracts was a major challenge for long fiber thermoplastic manufacturers during the pandemic period. Lockdowns and labor shortages had led to major production hiccups, leaving many producers incapable of supplying their clients. As the pandemic progressed, demand from automotive and aerospace sectors reduced sharply due to a virtual halt of the global transportation industry.

Although the pandemic era witnessed a decline in sales, it was more down to supply chain constraints rather than a natural decline in demand. Demand rose sharply in the initial weeks and months of the post-pandemic period as manufacturers struggled to keep pace. Companies are now focused on developing new thermoplastic materials to aid their growth. Overall, the pandemic is unlikely to have any negative implications on the long term growth of the global market.

Russia-Ukraine War Impact Analysis

The war in Ukraine created significant demand for long fiber thermoplastics for defence applications, particularly for the production of FPV drones and loitering munitions. Both Ukraine and Russia have upped defence equipment production, to replenish depleted stocks and create reserves of equipment for future offensive operations.

The sanctions imposed by U.S. and EU on the Russian market have cut off access to western-made thermoplastics. Therefore, to fulfill wartime contract obligations, many Russian defence enterprises have resorted to grey market imports and Chinese suppliers to fill gaps left by western sanctions. The Russian government has also provided financial backing to increase domestic production of long fiber thermoplastics.

By Resin

• Polypropylene
• Polyamide
• Polybutylene Terephthalate
• Others

By Fiber

• Glass
• Carbon
• Others

By Manufacturing Process

• Injection Molding
• Pultrusion
• Direct-LFT
• Others

By End-User

• Automotive
• Aerospace
• Electrical & Electronics
• Buildings & Construction
• Sporting Equipment
• Other

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2024, scientists from the African University of Science and Technology in Nigeria published a research paper exploring the possibility of using lignocellulosic reinforced thermoplastics for the production of lightweight automotive components.
• In October 2023, SABIC, Saudi Arabia's state-owned petrochemicals producer, unveiled an automotive body panel made from low pressure compression molding technology, using a proprietary long fiber thermoplastic material.
• In January 2024, PlastiComp, U.S.-based developer of plastic composites, commissioned a new R&D lab at its main office in Winona, Minnesota, U.S. The new lab will conduct research into the next generation of long fiber thermoplastics.

Competitive Landscape

The major global players in the market include BASF SE, SABIC, Lanxess, Avient Corporation, Solvay SA, Asahi Kasei Corporation, Daicel Corporation, RTP Company, Celanese Corporation and Toray Industries, Inc.

Why Purchase the Report?

• To visualize the global long fiber thermoplastics market segmentation based on resin, fiber, manufacturing process, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of long fiber thermoplastics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global long fiber thermoplastics market report would provide approximately 70 tables, 68 figures and 205 Pages.

Target Audience 2024

• Automotive Companies
• Aerospace Companies
• Electronic Manufacturers
• Industry Investors/Investment Bankers
• Research Professionals

Table of Contents

1.Methodology and Scope

• 1.1.Research Methodology
• 1.2.Research Objective and Scope of the Report

2.Definition and Overview

3.Executive Summary

• 3.1.Snippet by Resin
• 3.2.Snippet by Fiber
• 3.3.Snippet by Manufacturing Process
• 3.4.Snippet by End-User
• 3.5.Snippet by Region

4.Dynamics

• 4.1.Impacting Factors
  • 4.1.1.Drivers
    • 4.1.1.1.Ongoing Shift Towards Electric Vehicles
    • 4.1.1.2.Increasing Usage of Loitering Munitions for Warfare
  • 4.1.2.Restraints
    • 4.1.2.1.High Cost of Processing and Manufacturing
  • 4.1.3.Opportunity
  • 4.1.4.Impact Analysis

5.Industry Analysis

• 5.1.Porter's Five Force Analysis
• 5.2.Supply Chain Analysis
• 5.3.Pricing Analysis
• 5.4.Regulatory Analysis
• 5.5.Russia-Ukraine War Impact Analysis
• 5.6.DMI Opinion

6.COVID-19 Analysis

• 6.1.Analysis of COVID-19
  • 6.1.1.Scenario Before COVID-19
  • 6.1.2.Scenario During COVID-19
  • 6.1.3.Scenario Post COVID-19
• 6.2.Pricing Dynamics Amid COVID-19
• 6.3.Demand-Supply Spectrum
• 6.4.Government Initiatives Related to the Market During Pandemic
• 6.5.Manufacturers Strategic Initiatives
• 6.6.Conclusion

7.By Resin

• 7.1.Introduction
  • 7.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 7.1.2.Market Attractiveness Index, By Resin
• 7.2.Polypropylene*
  • 7.2.1.Introduction
  • 7.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 7.3.Polyamide
• 7.4.Polybutylene Terephthalate
• 7.5.Others

8.By Fiber

• 8.1.Introduction
  • 8.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Fiber
  • 8.1.2.Market Attractiveness Index, By Fiber
• 8.2.Glass*
  • 8.2.1.Introduction
  • 8.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 8.3.Carbon
• 8.4.Others

9.By Manufacturing Process

• 9.1.Introduction
  • 9.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 9.1.2.Market Attractiveness Index, By Manufacturing Process
• 9.2.Injection Molding*
  • 9.2.1.Introduction
  • 9.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 9.3.Pultrusion
• 9.4.Direct-LFT
• 9.5.Others

10.By End-User

• 10.1.Introduction
  • 10.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 10.1.2.Market Attractiveness Index, By End-User
• 10.2.Automotive*
  • 10.2.1.Introduction
  • 10.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 10.3.Aerospace
• 10.4.Electrical & Electronics
• 10.5.Buildings & Construction
• 10.6.Sporting Equipment
• 10.7.Other

11.By Region

• 11.1.Introduction
  • 11.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
  • 11.1.2.Market Attractiveness Index, By Region
• 11.2.North America
  • 11.2.1.Introduction
  • 11.2.2.Key Region-Specific Dynamics
  • 11.2.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 11.2.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Fiber
  • 11.2.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 11.2.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 11.2.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 11.2.7.1.U.S.
    • 11.2.7.2.Canada
    • 11.2.7.3.Mexico
• 11.3.Europe
  • 11.3.1.Introduction
  • 11.3.2.Key Region-Specific Dynamics
  • 11.3.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 11.3.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Fiber
  • 11.3.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 11.3.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 11.3.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 11.3.7.1.Germany
    • 11.3.7.2.UK
    • 11.3.7.3.France
    • 11.3.7.4.Italy
    • 11.3.7.5.Spain
    • 11.3.7.6.Rest of Europe
• 11.4.South America
  • 11.4.1.Introduction
  • 11.4.2.Key Region-Specific Dynamics
  • 11.4.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 11.4.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Fiber
  • 11.4.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 11.4.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 11.4.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 11.4.7.1.Brazil
    • 11.4.7.2.Argentina
    • 11.4.7.3.Rest of South America
• 11.5.Asia-Pacific
  • 11.5.1.Introduction
  • 11.5.2.Key Region-Specific Dynamics
  • 11.5.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 11.5.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Fiber
  • 11.5.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 11.5.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 11.5.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 11.5.7.1.China
    • 11.5.7.2.India
    • 11.5.7.3.Japan
    • 11.5.7.4.Australia
    • 11.5.7.5.Rest of Asia-Pacific
• 11.6.Middle East and Africa
  • 11.6.1.Introduction
  • 11.6.2.Key Region-Specific Dynamics
  • 11.6.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 11.6.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Fiber
  • 11.6.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 11.6.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User

12.Competitive Landscape

• 12.1.Competitive Scenario
• 12.2.Market Positioning/Share Analysis
• 12.3.Mergers and Acquisitions Analysis

13.Company Profiles

• 13.1.BASF SE*
  • 13.1.1.Company Overview
  • 13.1.2.Product Portfolio and Description
  • 13.1.3.Financial Overview
  • 13.1.4.Key Developments
• 13.2.SABIC
• 13.3.Lanxess
• 13.4.Avient Corporation
• 13.5.Solvay SA
• 13.6.Asahi Kasei Corporation
• 13.7.Daicel Corporation
• 13.8.RTP Company
• 13.9.Celanese Corporation
• 13.10.Toray Industries, Inc.

LIST NOT EXHAUSTIVE

14.Appendix

• 14.1.About Us and Services
• 14.2.Contact Us