The global short fibre thermoplastics market is expected to reach a valuation of $18.2 billion by 2031, expanding at a CAGR of 5.3%, forcasts Transparency Market Research in a new report.

 

The global short fibre thermoplastics market is broadly affected by several factors, including usage of short fibre thermoplastics in the transportation industry. The rise in the demand for short fibre thermoplastics in the consumer goods industry is propelling the global short fibre thermoplastics market, the report noted.

 

Market Dynamics

 

Superior physical and mechanical properties of short fibre thermoplastic are expected to the drive the market in the near future. Short fibre thermoplastic composites are being increasingly utilised as engineering materials, as they offer mechanical properties superior to metal assemblies, die castings, and traditional plastic materials. They can also be processed easily through the same fabrication methods such as injection molding. Mechanical properties of these materials depend on a complex combination of several internal variables such as type of matrix, fibre content, fibre-matrix interface, fibre orientation, fibre dimensions, and external variables, i.e. environmental and testing conditions.

The demand for short fibre thermoplastics is also rising, as they can be reshaped by melting. Short fibre thermoplastics are also melt-processable and this helps to carry out repair in the field. They also provide better corrosion resistance, chemical resistance, and better strength to weight ratio as compared to that offered by metals, the TMR report said.

 

Prominent Regions

 

Based on region, the global short fibre thermoplastics market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global short fibre thermoplastics market in 2020. The region is expected to maintain its dominance during the forecast period. The dominance of Asia Pacific can be attributed to an increase in usage of short fibre thermoplastics in the electrical and electronics sector of emerging economies, including China and India, in the region.

 

The short fibre thermoplastics market in Europe is anticipated to expand at a significant pace during the forecast period. Larger size of end-use industries in Germany and France is expected to augment the market in the region during the forecast period. The expansion of the consumer goods industry in Europe is anticipated to drive the short fibre thermoplastics market in the region over the next few years.

 

Key Players

 

The global short fibre thermoplastics market is fragmented with the presence of a large number of players. Key players operating in the global short fibre thermoplastics market are BASF SE, Solvay, DuPont, Sabic, DSM, Lanxess, Avient, Celanese Corporation, SGL Carbon, and Victrex.--TradeArabia News Service