Industry Background:
The global Thermoplastic Composites market is expected to witness high demand in the forecasted period due to the growing penetration of thermoplastic composites in the automobile industry. Thermoset polymers are polymers that are cured into a solid form and cannot be returned to their original uncured form. Composites made with thermoset matrices are strong and have very good fatigue strength. Factors such as high impact strength, high rigidity, and better surface quality coupled with less product rejection, high resistance to extreme temperatures, and creep resistance in constant load and severe environments have led to the thermoplastic composites market being more attractive than metals and thermoset.
According to AMA, the market for Thermoplastic Composites is expected to register a CAGR of 5.3% during the forecast period to 2026. This growth is primarily driven by Growing Investment in Aerospace and Defence Applications and High Demand for Transportation Industry.
Globally, a noticeable market trend is evident Increasing Demand for High-Performance Vehicles
. The Chemicals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Toray Industries, Inc. (United States), Lanxess AG (Germany), BASF SE (Germany), Arkema (France), Solvay (Belgium), DowDuPont Inc. (United States), Koninklijke DSM N.V. (Netherlands), PolyOne Corporation (United States) and Mitsubishi Chemical Advanced Materials (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 13th June 2019, Toray to Highlight Next-Generation Composite Technologies at Paris Air Show. Toray Industries will highlight the latest advances in aerospace materials technology at the upcoming Paris Air Show the world’s largest aerospace industry exhibition. Toray will promote its extended capabilities which now include the market-leading Cetex® thermoplastic composite materials, following their acquisition of TenCate Advanced Composites, since renamed to Toray Advanced Composites, in July of 2018.
On 14th March 2018, Koninklijke Ten Cate B.V. has reached an agreement with integrated chemicals and materials group Toray Industries Inc. (“Toray”) on the acquisition of TenCate Advanced Composites (“TCAC”). Toray is committed to further accelerate the growth of TCAC in the coming years, fully supporting TCAC management’s strategy and investment growth plans.
Market Drivers
- Growing Investment in Aerospace and Defence Applications
- High Demand for Transportation Industry
Market Trend
- Increasing Demand for High-Performance Vehicles
- Rising Demand due to Use in Consumer Goods and Electronics Industries
Restraints
- Challenges to Form Composites from Fiber Reinforcement
- High Cost Associated with Raw Materials
Opportunities
Growing Demand of Thermoplastic Composites from Developing Economies and The Emergence of Electric Vehicles across the World
Challenges
The Growing Concern Related to Low-Cost Production Technology
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Thermoplastic Composites Study Sheds Light on
The Thermoplastic Composites Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Thermoplastic Composites industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Thermoplastic Composites industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.