According to a new market report published by Lucintel Black Cameron Heyward Jersey , the future of the global short fiber reinforced thermoplastics market looks promising with opportunities in transportation, consumer goods, and electricalelectronics industries. The global short fiber thermoplastics market is expected to reach an estimated $14.2 billion by 2023 with a CAGR of 3.4% from 2018 to 2023. The major drivers for this market are growing demand for lightweight materials as well as recyclability, ease of processing, and better capability of making parts with complex geometry.
In this market, fiber (glass fiber, carbon fiber) and resin (polyamide Black Le'Veon Bell Jersey , polypropylene, and polybutylene terephthalate) are the major raw materials used for producing short fiber reinforced thermoplastic composites. Lucintel forecasts that transportation will remain the largest end use industry by value and volume due to the wide application of SFT as it offers higher strength to weight ratio, recyclability, and have ability to mold complex shapes. Consumer goods segment is expected to witness highest growth over the forecast period due to the increasing demand for lightweight and high performance plastics.
By fiber type, glass fiber based SFT is expected to remain the largest segment over the forecast period. By resin type, polyamide based composites is expected to remain the largest segment by both value and volume. The growing use of high heat resistance thermoplastic composites is likely to drive the consumption of polyamide resin based SFT over the forecast period.
Europe is expected to remain the largest market for short fiber thermoplastics due to growing demand for lightweight and environmentally sustainable composite materials from the