Thermoplastic Composite Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Thermoplastic Composite Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 24, 2024 /EINPresswire.com/ -- The thermoplastic composite market has experienced robust growth in recent years, expanding from $19.33 billion in 2023 to $20.7 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to weight reduction in automotive, aerospace industry growth, sustainability and recycling, cost-effective manufacturing, design flexibility.

What Is The Estimated Market Size Of The Global Thermoplastic Composite Market And Its Annual Growth Rate?
The thermoplastic composite market is projected to continue its strong growth, reaching $27.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to renewable energy infrastructure, smart manufacturing technologies, e-mobility expansion, urbanization and infrastructure development, aerospace innovations.

Explore Comprehensive Insights Into The Global Thermoplastic Composite Market With A Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample_request?id=5967&type=smp

Growth Driver Of The Thermoplastic Composite Market
The growth in demand for electric vehicles is expected to boost the demand for thermoplastic composites during the forecast period. The demand for electric vehicles is expected to increase in the next few years as they are environment-friendly and contribute towards fewer carbon emissions in the transportation industry. Thermoplastic composites provide excellent strength and play a significant role in the reduction of the overall weight of vehicles, which makes them useful in the production of vehicle components.

Make Your Report Purchase Here And Explore The Whole Industry's Data As Well:
https://www.thebusinessresearchcompany.com/report/thermoplastic-composite-global-market-report

Who Are the Leading Competitors in the Thermoplastic Composite Market Share?
Key players in the market include BASF SE, AVANCO GmbH, Avient Corporation, Celanese Corporation, Covestro AG, Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Corporation, PPG Industries Inc., Saudi Basic Industries Corporation, SGL Carbon SE, Solvay SA, Teijin Limited, The Ensinger Group, Toray Industries Inc., 3B-The Fibreglass Company, Adherent Technologies Inc., Airborne International BV, Arkema SA, Composites One, Dieffenbacher Group, Fiberforge Corp., Hexcel Corporation, Owens Corning, PlastiComp Inc., PolyOne Corporation, RTP Company, Sintex-Wausaukee Composites Inc., Techmer PM LLC, Tri-Mack Plastics Manufacturing Corporation, Victrex PLC, Web Industries Inc.

Which Key Trends Are Driving Thermoplastic Composite Market Growth?
Major companies in the thermoplastic composites market prioritize product innovation, such as low-friction thermoplastic composite bearings, to improve performance and competitiveness. Low-friction thermoplastic composite bearings are self-lubricating components made from a blend of thermoplastic materials, reinforced with various additives, designed to reduce friction and wear in mechanical systems.

How Is The Global Thermoplastic Composite Market Segmented?
1) By Product Type: Short Fiber Thermoplastics, Glass Mat Thermoplastics, Long Fiber Thermoplastics, Continuous Fiber Thermoplastics
2) By Fiber Type: Glass Fiber, Carbon Fiber, Other Fiber Types
3) By Resin Type: Polypropylene (PP), Polyamide (PA), Polyetheretherketone (PEEK), Other Resin Types
4) By End-Use Industry: Transportation, Consumer goods & electronics, Wind Energy, Sports & Leisure, Construction, Aerospace & Defense, Other End Users

Geographical Insights: Asia-Pacific Leading The Thermoplastic Composite Market
Asia-Pacific was the largest region in the market in 2023, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Thermoplastic Composite Market Definition
The term thermoplastic composite refers to a material that consists of a thermoplastic matrix combined with reinforcing material such as short, long, or continuous glass fibers or carbon fibers. They are manufactured through injection molding, compression molding, tape placement, winding, and thermoforming techniques. The advantages of thermoplastic composites include short cycle times, flexibility in the production process, recycling opportunities, and others.

Thermoplastic Composite Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global thermoplastic composite market report covering trends, opportunities, strategies, and more
The Thermoplastic Composite Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on thermoplastic composite market size, thermoplastic composite market drivers and trends, thermoplastic composite market major players and thermoplastic composite market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Thermal Interface Materials Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/thermal-interface-materials-global-market-report

Thermal Transfer Label Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/thermal-transfer-label-global-market-report

Thermal Imaging Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/thermal-imaging-global-market-report

What Does The Business Research Company Do?
The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.