Global Long Fiber Thermoplastics Market to Reach 313.4 Thousand Tons by 2017, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on long fiber thermoplastics. Global consumption in the long fiber thermoplastics (LFT) market is forecast to reach over 313.4 thousand tons by the year 2017, encouraged primarily by myriad applications in the automotive industry. Revival of the auto industry after a recession-induced hiatus has been instrumental in driving growth in the LFT composites market, particularly in the manufacture of reinforced structural and semi-structural automobile parts. Market growth is also driven by huge demand from polypropylene, which remains the most dominant resin category for LFTs. While developed Western countries continue to dominance in terms of sheer size, Asia-Pacific, led by China displays immense potential for rapid future growth.
San Jose, California (PRWEB) October 04, 2011
Long fiber reinforced thermoplastics (LFT /LFRT) is a relatively recent technology and is fast gaining prominence as an ideal lightweight substitute for several compression and metal molded thermoset parts in the automotive industry. Today, such LFT and LFRT pellet, concentrate and direct in-line compounds offer attractive opportunities in both automotive as well as non-automotive applications. Besides metals, LFTs compete with a wide range of thermoplastic materials including glass mat thermoplastics (GMT), short fiber reinforced engineering plastics and bulk / sheet molding compounds. The length of the reinforcing fiber largely influences the mechanical properties of fiber-reinforced thermoplastics. Polypropylene (PP) accounts for the majority share of the demand as the leading matrix material in various compounds. LFT-D technology, used for production of glass fibers and polypropylene based composites, offers outstanding price-to-performance benefits, thereby encouraging usage in the automotive industry for more applications. In the current scenario, the dynamics of LFRT industry extend far beyond the usual macro-economic elements of demand and supply. The long-term success in the industry is determined by the efficiency with which the suppliers address the requirements of the end-users. Material suppliers are undergoing substantial repositioning with the development of innovative product marketing and brand building strategies.
The market for LFT worldwide grows in tandem with the developments in the auto industry. Of late, demand for sleek, small, lightweight vehicles tremendously increased market opportunities. In the automotive industry, potential uses of thermoplastics include seat-based systems, instrument panels, bumper beams, load floors, front-end and door modules, and under-body panels. The last 20 years witnessed an increasing requirement for lightweight cars due to high oil prices and the energy crisis. Long fiber-reinforced thermoplastics are therefore viewed as a cost-effective means of substituting engineering and metal thermoplastics, to ensure efficient, productive and lightweight components, leading to lower fuel consumption. The substitution of metals with LFTs in parts like front-end modules, instrument panels and door modules, reduces assembly costs to a great extent. The combination of high end-use properties and high volume processing with lower system costs is a major force driving further applications of LFTs in the automotive industry.
The use of LFTs, initially stemming from Europe, has eventually spread to various other regions of the world. While North America and Europe witness applications of both in-line and pellet processing, Asian technology is largely centered on pellet processing. LFT suppliers are establishing manufacturing facilities in high-growth, low cost markets such as Korea and China. The Asian region, which is currently the worldÃ¢s largest automobile manufacturer, continues to increase its consumption of LFTs despite the recent economic recession, which temporarily halted growth in other world regions. China, which occupied a relatively low share in LFT consumption until 2009, surged rapidly and is today ranked as the most dominant and vibrant LFT consuming market across the globe.
In terms of geographic coverage, Europe represents the single largest consumer of LFTs, as stated by the new research report on Long Fiber Thermoplastics. The European industry, since long has been far more receptive to thermoplastic composites in comparison to other world regions, owing to environmental concerns as well as legislation in the fields of end-of-life recycling and processing emissions. Asia-Pacific backed by tremendous growth in China, commands the next leading position, poised to expand at a robust CAGR of about 11% through 2017. By end-use applications, the Automotive industry garners the largest market, with instrument panels, front-end modules and underbody shields figuring as some of the prominent LFT markets.
Key market participants profiled in the report include Bayer MaterialScience AG, Composite Products, Inc., Composite Technologies Co., LLC, ComUSA LLC, DuPont, Daicel Polymer Limited, OCV Reinforcements, PlastiCompÃ¢“¢ LLC, PPG Industries, Rhodia Group, RTP Company, SABIC EUROPE BV, SAMBARK LFT Co., Ltd, Shanghai Genius Advanced Material Co, Ticona Engineering Polymers and TechnoCompound GmbH among others.
The research report titled Ã¢Å“Long Fiber Thermoplastics (LFT): A Global Strategic Business ReportÃ¢ announced by Global Industry Analysts, Inc., provides a comprehensive review of industry and product overview, global composites industry, product introductions, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific and Rest of World. Market analytics are provided in volume (tons) terms. Major Resin types analyzed include, Polypropylene and Others. The report also analyzes the global LFT market by the following end-use applications, Automotive (Door Modules, Front-End Modules, Instrument Panels, Underbody Shields, Other Applications); and Non-Automotive (Industrial & General Goods and Other Applications). The study provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit Ã¢“ http://www.strategyr.com/Long_Fiber_Thermoplastics_LFT_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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