Stratview Research publishes a new report titled Thermoplastic Compounds Market which is segmented by Material Type (GMT, LFT, SFT, and CFT), by End-Use Industry Type (Aerospace & Defense, Transportation, Consumer Goods, Electrical & Electronics, Construction, and Others), by Fiber Type (Glass Fiber Compounds and Carbon Fiber Compounds), by Resin Type (PP, PA, PBT, PPS, PC, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Saudi Arabia, Brazil, and Others]).
The global Thermoplastic Compounds Market is expected to grow at a promising CAGR of 5.5% during the forecast period to reach US$ 20.4 billion by 2027. The global thermoplastic compounds market suffered a significant decline in 2020 due to the global economic recession led by the COVID-19 pandemic. Huge reduction in the production of automobiles, electrical & electronic products, and consumer durables in the wake of reduced demand, supply chain disruption, cash flow constraints, and temporary shutdown in production facilities, impacted the demand for thermoplastic compounds negatively.
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Key players active in the market –
The following are some of the key players in the THERMOPLASTIC COMPOUNDS Market:
- BASF SE
- DSM N.V.
- Solvay S.A. (Cytec Industries Incorporated)
- Celanese Corporation
- Hanwha Corporation
- LANXESS AG
Global Thermoplastic Compounds Market Report Segments:
The Thermoplastic Compounds Market is segmented into the following categories:
the market is segmented as GMT (Glass Mat Thermoplastic), LFT (Long Fiber Thermoplastic), SFT (Short Fiber Thermoplastic), and CFT (Continuous Fiber Thermoplastic). SFT is estimated to maintain its irrefutable lead in the market during the forecast period, in terms of both, value as well as volume.
End-Use Industry Type
The market is classified into aerospace & defense, transportation, consumer goods, electrical & electronics, construction, and others. Transportation is expected to remain the biggest demand generator for thermoplastic compounds in terms of both value and volume in the foreseen future.
The, Asia-Pacific is expected to remain the largest as well as the fastest-growing market for thermoplastic compounds over the forecast period. China, Japan, South Korea, and India are the major markets for thermoplastic compounds in the region and are anticipated to maintain their dominance in the region’s market in the years to come. The introduction of stringent regulations are leaving no options before automakers except to incorporate lightweight materials in their vehicles. Thermoplastic compounds remain the priority of all the leading automakers.
Why is this report beneficial?
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
It also offers –
- Market Overview
- Key Manufacturers Profiles
- Market Analysis by Region
- Market Segment by Type
- Market Segment by Application
- Raw Material and Supply Chain
- Other Key Research Findings
All the data compiled by the market experts is the outcome of rigorous primary and secondary research conducted on the market players and reliable sources, including company white papers, journals, press releases, and more.
Customization of the report –
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