DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Long Fiber Thermoplastics Market by Resin Type, Fiber Type, Application and Region - Global Forecast to 2021" report to their offering.
The global Long Fiber Thermoplastics (LFT) market is projected to grow from USD 2.77 Billion in 2016 to USD 4.26 Billion by 2021, at a CAGR of 8.96% during the forecast period.
The growth of the market is expected to be driven by the high demand for long fiber thermoplastics from the automotive industry. Long fiber thermoplastics are used in the manufacturing of lightweight automobile components to reduce overall weight and gain fuel efficiency to meet various.
Product performance can be enhanced with the use of resins along with long fiber thermoplastics. As per the requirement of the application, long fiber thermoplastics are used with different resins to exhibit properties that enhance the performance of the product.
Europe is estimated to be the largest market for long fiber thermoplastics. Presence of some of the major automotive manufactures, including such as BMW (Germany), Volkswagen (Germany), and Mercedes-Benz (Germany) is expected to aid the growth of the market in Europe. Germany is a key long fiber thermoplastics market in Europe, due to the growing automotive industry in the country.
- Increase in Demand for Fuel-Efficient Vehicles
- Exceptional Properties of Long Fiber Over Short Fiber Thermoplastics
- Less Generation of Vocs and Recycling Capabilities
- Weaker Mechanical Properties and Higher Cost Than Thermosets
- High Processing and Manufacturing Costs
- Increasing Use of Long Fiber Thermoplastic in Various End-Use Industries
- Need for Reducing Capital and Technology Costs
- Asahi Kasei Plastics North America Inc.
- Celanese Corporation
- Daicel Polymer Ltd.
- Lanxess AG
- Plasticomp Inc.
- PPG Fiber Glass Inc.
- Quadrant AG
- RTP Company, Inc.
- SGL Group
- Solvay SA
- Technocompound GmbH
For more information about this report visit http://www.researchandmarkets.com/research/9hlfk6/long_fiber