Long Fibre Reinforced Thermoplastic Composites Market Size, Share & Industry Analysis, By Resin Type ( PP, PA, PEEK, PPA, Others ), By Fibre Type ( Glass, Carbon, Others ), By End-use industry ( Automotive, Electrical & Electronics, Consumer Goods, Sporting Goods, Others ) and regional Forecast, 2024-2032

Long fibre reinforced thermoplastic or long fibre thermoplastic composites have outstanding basic modulus and strength, excellent impact resistance, ease of handling, recyclability and high corrosion resistance. They incorporate high levels of rigidity, strength and durability in a single material. The excellent tensile strength characteristics of long fibre composites are the reason why they are often used as metal replacements, as a replacement for low-performance plastics, or as solutions to higher cost polymeric materials by using low-cost plastics.

Increased competition for long-term fiber thermoplastics is on the increase in demand for high-performance products in the automotive industry worldwide. The reduced weight of the necessary structure makes the use of long fiber thermoplastics important to the automotive industry. The use of long fiber thermoplastics in the automotive sector has increased because they are compact and have great specific strength. However, long fiber thermoplastics producers are expected to comply with strict regulations of government. There are various regulations concerning the quality of raw materials used in the manufacture of the items, which will have an effect on the growth of the industry.

Market Segmentation:

Based on resin type, the market for global long fibre reinforced thermoplastic composites is segmented into  PP, PA, PEEK, PPA, others. Based on fibre type, the market for global long fibre reinforced thermoplastic composites is segmented into glass, carbon, others.  On the basis of application, the market is classified into automotive, electrical & electronics, consumer goods, sporting goods, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Market Driver -

Increasing application in automobile sector drives the market.

Key Market Restraint -

Stringent regulations by the government will restrict growth.

Key Players Covered:

The global long fibre reinforced thermoplastic composites market is fairly fragmented, with number of players operating in the global markets. Some of the key players in the global long fibre reinforced thermoplastic composites includes Celanese Corporation, SABIC, Lanxess AG, BASF SE, Mitsubishi Chemical Holdings, PlastiComp Inc., Daicel Polymer Ltd., Asahi Kasei Corporation, RTP Company Inc., and Solvay.

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Global Long Fibre Reinforced Thermoplastic Composites Market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

The global long fibre reinforced thermoplastic composites market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominates the  long-fibre reinforced thermoplastic composites,. This is attributed to the rise of market leaders and the development of the automotive industry. Asia Pacific has a large market share due to the increasing automotive markets and heavy investment in the automotive industry, driving the demand for long-fibre thermoplastics in the region. In North America, the United States and Canada are expected to rise at the highest rate during the forecast period. This is the biggest market for long-fibre thermoplastics in North America. The rate of economic growth is the key explanation for the high use of long fiber thermoplastics. The Middle East and the African region will be among the recent advances in regional industrial development, especially in the construction of manufacturing plants. Latin America also suffers from political instability and economic uncertainty that inhibits business expansion.

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Segmentation

Global Long Fibre Reinforced Thermoplastic Composites Market Industry Developments 

• In April 2019: Quadrant AG, a global leader in high-performance thermoplastics, announced that it has renamed its firm to Mitsubishi Chemical Advanced Materials AG. This is supposed to be an important step in the development of the organization. This was a strategic move by the company to increase its reach into the market with collaborations with advanced chemical companies.