The Long Fiber Thermoplastics (LFT) market is projected to rise at a faster rate during the forecast period (2017-2023) due to the growing demand from end use applications such as automotive, electrical and electronics industry. The increasing environmental concerns and increasing government regulations focusing on a superior fuel resulting in the growth of long fiber thermoplastics market during the forecast period.
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The primary drivers of the long fiber thermoplastics market are the extensive use in manufacturing light weight structural parts in automobiles, increasing use of polyamide LFT in turbocharged engines and crash absorbers, use of reinforced polypropylene in the construction industry, growing use of LFTs in wind turbines, expanding applications in aviation and electronics sector.
Long fiber thermoplastics are bulk molding materials with high mechanical performance characteristics such as stiffness, strength and toughness which are combined into a single material thereby, forming a substitute to metals. These long fiber thermoplastics are continuous fiber filaments flowing along the length of the pellet, with improved stiffness, strength and impact resistance.
The global long fiber thermoplastics market is categorized by resin type, fiber type, application and geography. The market, by resin type, is segmented into polypropylene, Polyamide (PA), Polybutylene Terephthalate (PBT).
By region, the long fiber thermoplastics market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa (MEA), and South America. Europe is estimated to be the largest market during the forecast period with increasing use of thermoplastic-based composites and growth in end use industries such as automotive, electrical, electronics, sporting goods and consumer goods.
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The key players in the long fiber thermoplastics market include Celanese Corporation, RTP Company, JNC Corporation, Daicel Polymer Limited, Sumitomo Chemical Company Ltd, PPG Industries, Inc., SABIC, CTC Plastics, LANXESS, Solvay.
Market Segmentation
By Resin Type
- Polypropylene (PP)
- Polyamide (PA)
- Polybutylene terephthalate (PBT)
By Fiber Type
- Long glass fiber thermoplastics
- Long carbon fiber thermoplastics
By Applications
- Automotive
- Electrical and Electronics
- Sporting Goods
- Consumer Goods
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