DALLAS, Feb. 25, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global short fiber reinforced thermoplastics market looks promising with opportunities in transportation, consumer goods, and electrical/electronics industries. The global short fiber thermoplastics market is expected to reach an estimated $14.2 billion by 2023 with a CAGR of 3.4% from 2018 to 2023. The major drivers for this market are growing demand for lightweight materials as well as recyclability, ease of processing, and better capability of making parts with complex geometry.
Browse 105 market data tables and 157 figures spread through 214 pages and in-depth TOC on “Global Short Fiber Thermoplastics Market" at https://www.lucintel.com/short-fiber-thermoplastics-market.aspx
In this market, different types of short fiber thermoplastics such as transportation, consumer goods, electrical/electronics, and others are used as end use industry. Lucintel forecasts that transportation will remain the largest end use industry by value and volume due to the wide application of SFT as it offers higher strength to weight ratio, recyclability, and have ability to mold complex shapes.
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Europe is expected to remain the largest market for short fiber thermoplastics due to growing demand for lightweight and environmentally sustainable composite materials from the end use industries. ROW is expected to witness the highest growth rate during the forecast period due to the expected increase in vehicle production and an increasing focus on lightweight composite materials.
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Emerging trends, which have a direct impact on the dynamics of the industry, include development of high temperature resistance PA6 compounds to replace PA46 and PA12 and increasing use of recycled carbon fiber in SFT. BASF, DSM, DowDuPont, SABIC, and Lanxess others are among the major short fiber thermoplastics manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the global short fiber thermoplastics market by end use industry, resin type, fiber type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Short Fiber Thermoplastics Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com