Short fiber thermoplastics market forecast at $18.2 billion by 2031

Pune, India – Transparency Market Research delivers key insights on the global short fiber thermoplastics market. In terms of revenue, the global short fiber thermoplastics market is expected to expand at a CAGR of 5.3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global short fiber thermoplastics market.

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

Superior physical and mechanical properties of short fiber thermoplastic are expected to the drive the market in the near future. Short fiber thermoplastic composites are being increasingly utilized 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, fiber content, fiber-matrix interface, fiber orientation, fiber dimensions, and external variables, i.e. environmental and testing conditions.

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

Based on region, the global short fiber thermoplastics market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global short fiber 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 fiber thermoplastics in the electrical & electronics sector of emerging economies, including China and India, in the region.

The short fiber 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 fiber thermoplastics market in the region over the next few years.

The global short fiber thermoplastics market is fragmented with the presence of a large number of players. Key players operating in the global short fiber thermoplastics market are BASF SE, Solvay, DuPont, SABIC, DSM, Lanxess, Avient, Celanese Corporation, SGL Carbon, and Victrex plc.