Long Fiber Thermoplastics Market Size, Share, Trends, Industry Analysis, Growth and Forecast 2030

Long Fiber Thermoplastics Industry Prospective:

The global long fiber thermoplastics market size was evaluated at $4.08 billion in 2022 and is slated to hit $9.5 billion by the end of 2030 with a CAGR of nearly 9.8% between 2023 and 2030.

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Long Fiber Thermoplastics Market: Overview

Long fiber thermoplastics are the integration of thermoplastic matrix and long fibers that result in a material having improved mechanical features in comparison to conventional short-fiber composites. Reportedly, these products offer high strength and stiffness with thermoplastic matrix imparting processability, strength, and impact resistance to the substance. Moreover, they are the products that reduce the gap between conventional fiber-reinforced composites and compounds. In addition to this, the product can be easily processed in a standard injection molding process and acquire enhanced mechanical performance in comparison to its short fiber counterparts. Additionally, long-fiber thermoplastics are a slew of injection moldable thermoplastics produced in a process of pultrusion through which bundled fibers are impregnated and then cut into granules.  

Key Insights

• As per the analysis shared by our research analyst, the global long fiber thermoplastics market is projected to expand annually at the annual growth rate of around 9.8% over the forecast timespan (2023-2030)
• In terms of revenue, the global long-fiber thermoplastics market size was evaluated at nearly $4.08 billion in 2022 and is expected to reach $9.5 billion by 2030.
• The global long fiber thermoplastics market is anticipated to grow rapidly over the forecast timeline owing to favorable product features such as higher shelf life, superior processability, good corrosion resistance, excellent mechanical properties, and low density.
• In terms of resin type, the polypropylene segment is slated to register the highest CAGR over the analysis period.
• Based on fiber type, the glass fiber segment is projected to record a massive surge in the coming years.
• Based on end-use, the automotive segment is projected to record a massive surge in the coming years.
• Region-wise, the North American long fiber thermoplastics industry is expected to register the fastest CAGR during the assessment timeline.

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Long Fiber Thermoplastics Market: Growth Factors

Beneficial product features to boost global market trends

The global long fiber thermoplastics market is likely to witness significant growth over the next years and is expected to grow at a noticeable rate within the forecast period. There is massive growth potential for the global market owing to its variety of applications, excellent properties, and growing demand for the product. Superior processability, good corrosion resistance, higher shelf life, excellent mechanical properties, and low density are the crucial attributes that are predicted to boost the demand for long fiber thermoplastics across a slew of end-use sectors. The escalating demand for long fiber thermoplastics from electronic appliances such as air purifiers, ceiling fans, microwaves, and air conditioners will prop up the global market demand.     

Furthermore, an increasing demand for long-fiber thermoplastics from the automotive industry is the major factor driving the growth of the market across the globe. The growing use of lightweight substances for improving fuel efficiency is predicted to steer the global market expansion. For instance, the Corporate Average Fuel Economy (CAFE) standard, has constantly emphasized the use of lightweight materials such as long fiber thermoplastics. Hence, the automotive sector is likely to remain the key user of long-fiber thermoplastics in the years ahead.

New product launches will help in enhancing the global market potential in the years to come. For instance, in May 2023, Avient Corporation, a key player in the specialized polymer materials sector, launched Complet™ and OnForce™ long fiber reinforced thermoplastic composites in the Asian sub-continent. In July 2022, Sumitomo Chemical Advanced Technologies, LLC, a key player in the semiconductor manufacturing sector, developed a new family of long-fiber thermoplastic composites embedded with high-performing liquid crystal polymer matrices. Such strategic moves are likely to pave the way for growth of the market across the globe.

Long Fiber Thermoplastics Market: Restraints

Huge production & operating costs to put brakes on the global industry surge by 2030

The factor that can hinder the global long fiber thermoplastics industry expansion is the high processing & manufacturing costs. A rise in the costs of raw components and disruption in supply chain activities can deter the expansion of the global industry in the upcoming years. Large-scale use of special tooling methods for producing long fiber thermoplastics has proved to be very expensive, thereby posing a huge threat to the expansion of the global industry.  

Long Fiber Thermoplastics Market: Opportunities

Rise in the demand for environment-friendly products in a slew of end-use sectors to boost the global market over 2023-2030

Escalating demand for mass reduction & light weighting in the aviation sector along with the growing use of eco-friendly products in various end-use sectors will open new growth avenues for the global long fiber thermoplastics market in the coming years. Furthermore, these products are preferred over heavy materials owing to their environment-friendly features, thereby enlarging the scope of the global market demand. The massive need for reducing the costs of material during fiber reinforcement will propel the expansion of the market globally.  

Long Fiber Thermoplastics Market: Challenges

Stringent government legislation pertaining to product usage in a slew of end-use sectors can prove to be a huge challenge for the global industry

Strict government laws regulating the use of products in various end-use sectors can prove to be detrimental to the growth of the global long fiber thermoplastics industry. Apart from this, changing costs of the product can further deteriorate the expansion of the industry across the globe in the years ahead.

Long Fiber Thermoplastics Market: Segmentation

The global long fiber thermoplastics market is sectored into resin type, fiber type, end-use, and region.                          

In resin type terms, the global long fiber thermoplastics market is segregated into polypropylene, polyamide, polyether ether ketone, and polybutylene terephthalate segments. Furthermore, the polypropylene segment, which acquired approximately 41% of the global market share in 2022, is expected to register the fastest rate of growth in the forecast timeline. The growth of the segment over the projected timeframe can be ascribed to a rise in the use of polypropylene-based long-fiber thermoplastics in the packaging, automotive, construction, and textile sectors. Apart from this, polypropylene-based products are cost-efficient in comparison to polyamide and polyether ether ketone and hence are preferred more over the latter.  

Based on the fiber type, the global long fiber thermoplastics industry is sectored into glass fiber and carbon fiber segments. Moreover, the glass fiber segment, which acquired the largest share of the global industry in 2022, is predicted to lead the segmental landscape over the next eight years. The expansion of the segment over the forecast period ahead can be owing to the humungous use of products in manufacturing long fiber thermoplastics. Reportedly, glass fibers are less expensive as compared to carbon fibers.  For the record, it has been found that glass-reinforced compounds have wide applications in Europe.  

Based on the end-use, the global long fiber thermoplastics industry is sectored into furniture, automotive, construction, aerospace, and electronics appliances segments. Furthermore, the automotive segment is predicted to make notable contributions towards the global market revenue during the period from 2023 to 2030. The rapid expansion of the segment can be credited to the rise in the use of products in the automotive segment. Apart from this, the product offers durability, stiffness, and lightweight to automotive and hence it has gained huge popularity in the automotive manufacturing sector. For the record, long fiber thermoplastics find use in instrument panel carriers, bumper moldings, bumper beams, door modules, instrument panel carriers, and front-end modules.

Long Fiber Thermoplastics Market: Report Scope

Long Fiber Thermoplastics Market: Regional Insights

Asia-Pacific is predicted to retain its dominant status in the global long fiber thermoplastics market over the forecast timeframe

Asia-Pacific, which amassed nearly 41%of the global long fiber thermoplastics market revenue share in 2022, is anticipated to lead the regional landscape in the upcoming years. Additionally, the regional market expansion over the coming years can be attributed to easy access to raw materials in the region along with incessant supply chain activities. Apart from this, a surge in the manufacture of electric vehicles in the sub-continent has enhanced the product demand in the region. Let us discuss the country-wise analysis of the region.

China Long Fiber Thermoplastics Market Analysis

The market in China is predicted to expand by leaps & bounds in the upcoming years by registering the highest growth rate of about 4.5% in the next eight years. The growth of the market in the country over the forecast period can be attributed to the thriving electric vehicle sector in China. Apart from this, the rise in the sale of electric vehicles in the country owing to rising fuel costs and the growing need to reduce carbon emissions in the atmosphere is projected to steer the growth of the market in the country. Moreover, China is the highest manufacturer & supplier of electric vehicles and contributes majorly towards the regional market revenue.

India Long Fiber Thermoplastics Industry Analysis

The industry in India is slated to record a mammoth growth over the forecast timeline subject to an increase in the bicycle production and export of bicycles. For the record, the sporting products sector in India was evaluated at about $4 billion in 2021 and exports during this period were nearly 62%. Moreover, the government of India is trying to launch new schemes for making the country a powerhouse of the sporting goods sector across the globe. Additionally, there is a huge scope of demand for long fiber thermoplastics in the sports goods manufacturing sector in India as the product has beneficial features such as making sports equipment lightweight and durable.

Japan Long Fiber Thermoplastics Market Analysis

The expansion of the market in Japan in the ensuing years can be due to the rapid Industry 4.0 revolution in the country aiding advanced production activities in the country. Additionally, the presence of key industry players in the country will contribute majorly towards the market growth in the country.  

North American long fiber thermoplastics industry is set to register the highest CAGR in the forecast timeline

The regional industry surge over the forecast timeline is subject to huge product penetration in the electrical & electronics, automotive, and aerospace sectors. In addition to this, the strong presence of key players in the sub-continent will prop up the scope of growth of the industry in North America. Let us discuss the country-wise analysis of the region.

United States Long Fiber Thermoplastics Industry Analysis

The industry growth in the U.S. can be attributed to a rise in defense spending along with the demand for weapons and defense technologies in the U.S. aerospace and defense sector.  

 Long Fiber Thermoplastics Market: Competitive Space

The global long fiber thermoplastics market profiles key players such as:

• GS Caltex
• Mitsubishi Chemical Corporation
• SABIC Industries
• Avient Corporation
• Teijin Limited
• LANXESS Corporation
• Asahi Kasei Corporation
• BASF Corporation
• LOTTE Chemicals
• RTP Company
• Daicel Corporation

The global long fiber thermoplastics market is segmented as follows:

By Resin Type

• Polypropylene
• Polyether Ether Ketone
• Polyamide
• Polybutylene Terephthalate

By Fiber Type

• Glass Fiber
• Carbon Fiber

By End-Use

• Automotive
• Aerospace
• Furniture
• Construction
• Electronics Appliances

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa