According to the recent study the short fiber thermoplastic market is projected to reach an estimated $29.9 billion by 2028 from $22.2 billion in 2022, at a CAGR of 5.1% from 2021 to 2028. Growth in this market is primarily driven by increasing demand for light weight materials in different application markets where complex parts are designed.
Browse 138 figures / charts and 96 tables in this 185 -page report to understand trends, opportunities and forecast in short fiber thermoplastic market by end use (transportation, consumer goods, electrical and electronics, and others), reinforcement type (glass fiber and carbon fiber), resin type (polypropylene, polyamide, polybutylene terephthalate and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Glass fiber market is expected to remain the largest segment during the forecast period.”
Based on reinforcement type, the short fiber thermoplastic market is segmented into glass fiber and carbon fiber. Lucintel forecasts that the glass fiber market is expected to remain the largest segment due to because it offers high tensile strength and provides outstanding electrical properties.
“Within the short fiber thermoplastic market, the consumer goods segment is expected to remain the largest end use”
Based on end use the consumer goods segment is expected to witness the highest growth over the forecast period.
“Asia pacific will dominate the short fiber thermoplastic market in near future”
APAC is expected to remain the largest region by value and volume over the forecast period and ROW is expected to experience the highest growth over the forecast period due to growth in end use industries.
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Major players of short fiber thermoplastic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF, DSM, DuPont, SABIC, and Lanxess are among the major short fiber thermoplastic providers.
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