30-May-17 The global long fiber thermoplastics market has been driven primarily by the rising use of polymers and plastics in a diverse range of manufacturing industries, as per Transparency Market Research. Long fiber thermoplastics present several advantages over conventional manufacturing materials, such as light weight and easy reusability. Their light weight has become a key reason for the growing demand from the global long fiber thermoplastics market from the consumer electronics and automotive industries. Lightweight materials enhance automotive design as well as adding to the fuel efficiency of the vehicle, while the ergonomic boost imparted by lightweight materials has made long fiber thermoplastics crucial for the consumer electronics market. Like most plastics and polymers, long fiber thermoplastics also offer high resistance against corrosion as well as heat. This is also likely to be a crucial driver for the global long fiber thermoplastics market, as the integrity of the manufacturing material is vital to the both automotive and consumer electronics sectors. Due to the intense competition in both sectors, the aesthetic benefits imparted by the corrosion-resistant long fiber thermoplastics have also become important for the market.
The rapid growth of the consumer electronics industry in developing Asia Pacific countries has been a crucial driver for the global long fiber thermoplastics market. This has driven the demand from the Asia Pacific long fiber thermoplastics market, and has also forced consumer electronics manufacturers in developed economies to consider long fiber thermoplastics in order to improve their pricing structure as well as enhance the ergonomics of their products. The rising disposable income of consumers in Asia Pacific is likely to remain an important driver for the global long fiber thermoplastics market in the coming years.
Asia Pacific has also been vital for the global long fiber thermoplastics market due to the growing automotive industry in the region. The Chinese automotive industry has taken rapid steps to join the ranks of global giants in the last few years, while South Korea and Japan have been among the conventional leaders in the global automotive market. The rising regulatory support to measures that reduce fuel emission from cars is likely to drive the demand from the global long fiber thermoplastics market, as the lightness imparted by long fiber thermoplastics has a significant beneficial effect on the vehicle’s fuel efficiency.
Despite the strong growth prospects of the Asia Pacific market for long fiber thermoplastics, Europe is likely to be the leading regional contributor to the global market in the coming years. The steady technological progression of the automotive industry in Europe has made it easier for companies in the region to incorporate manufacturing advances in their operations. The steady government support to environmental initiatives has also bolstered the long fiber thermoplastics market in Europe and is likely to remain a key driver for the market in the coming years.
Leading players in the global long fiber thermoplastics market are profiled in the report in order to shed light on the competitive dynamics of the market. Key companies examined in the report include Celanese Corporation, PolyOne, PlastiComp Inc., Solvay SA, RTP Company, and Lanxess AG.
