Global short fiber thermoplastics market forecast to grow 4.5% by 2021

30-May-16

The future of the short fiber thermoplastic (SFT) composites market looks attractive with opportunities in the transportation, consumer goods, and electrical/electronics industries. The global short fiber thermoplastics market is forecast to grow at a CAGR of 4.5% from 2016 to 2021, as per Research and Markets. The major drivers for the growth of this market are recyclability, ease of processing, and better capability of making parts with complex geometry. In this market, fiber (glass fiber, carbon fiber) and resin (polyamide, polypropylene, and polybutylene terephthalate) are the major raw materials used for producing short fiber thermoplastic composites. The demand for SFT is likely to experience a good growth during the forecast period supported by growing demand in end-user industries. On the basis of comprehensive research, the report forecasts that the transportation segment is expected to show above average growth during the forecast period. Asia Pacific (including Rest of the World) is expected to remain the largest market and is expected to witness highest growth rate during the forecast period due to the anticipated growth in the end user industries and increasing focus on high performance thermoplastic composites. For market expansion, this report suggests innovation and new product development, where the unique characteristics of SFT can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of high performance products for the end use industries. Emerging trends in the global SFT market which have a direct impact on the dynamics of the industry are establishment of manufacturing facilities in high growth markets and integration of operational capabilities.