According to the recent study the short fiber thermoplastic market is projected to reach an estimated $16.8 billion by 2026, at a CAGR of 4.4% from 2021 to 2026. Growth in this market is primarily driven by increasing demand for lightweight materials in different application markets where complex parts are designed.
Browse 123 figures / charts and 105 tables in this 175 -page report to understand trends, opportunities and forecast in short fiber thermoplastic market by end use industry (transportation, consumer goods, electrical and electronics (E&E), and others), reinforcement type (glass fiber, carbon fiber), resin type (PP, PA, PBT and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“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, carbon fiber. Lucintel forecasts that the glass fiber market is expected to remain the largest segment due to offers high tensile strength and provides outstanding electrical properties.
“Within the short fiber thermoplastic market, the transportation segment is expected to remain the largest end use industry”
Based on end use industry the transportation segment is expected to witness the highest growth over the forecast period due to increasing demand for short fiber thermoplastic based products in transportation industry.
“Europewill dominate the short fiber thermoplastic market in near future”
Europe is expected to remain the largest region by value and ROW is expected to experience the highest growth over the forecast period due to growth in end use industries.
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 SE, SABIC, DSM NV, DowDuPont, LyondellBasell, and LANXESS are among the major short fiber thermoplastic providers.