Global Long Fiber Thermoplastics Market – High Demand from Automotive Industry Drives Growth | Technavio

LONDON–(BUSINESS WIRE)–#LongFiberThermoplastics—Technavio
market research analysts forecast the global
long fiber thermoplastics (LFT) market to grow at a CAGR of over 9%
during the period 2018-2022, according to their latest report.

In this report, Technavio highlights the rising popularity of bio-based
and natural LFTs as one of the key emerging trends in the global long
fiber thermoplastics market. The major players in the market are
concentrating on the development of bio-based and natural LFTs. The use
of natural fibers such as glass provides cost advantages, renewability,
density, recyclability, abrasiveness, and bio-degradability. Fiber-based
LFTs are used for developing environment-friendly plastics that can be
used in the automotive industry, the largest application segment. Kenaf
plant is one of the major sources of raw materials for natural LFTs. The
blend of natural kenaf bast fibers with polypropylene in the
thermoplastics offers mechanical strength, recyclability, and thermal
stability.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the
third for FREE: View
all TechnavioÔÇÖs current offers

In this report, Technavio analysts highlight the high demand for LFTs
from the automotive industry as a key factor contributing to the growth
of the global
long fiber thermoplastics market:

High demand for LFTs from the automotive
industry

LFTs are extensively used as replacements for conventional materials
such as metal assemblies, die castings, and underperforming plastics in
the automotive industry. They are lightweight and enhance the
performance, dimensional stability, and strength of the automobile. They
also improve resistance to corrosion and offer flexibility in designs.

According to a senior analyst at Technavio for plastics,
polymers, and elastomers, ÔÇ£LFTs reduce the overall weight of
an automobile and improve the fuel efficiency to meet the quality
standards set by regulatory bodies. The reduced vehicle weight aids in
saving energy by reducing brake and tire wear and emissions. LFTs are
lightweight, environment-friendly alternatives to heavy metals and help
in lowering the total material costs. The increasing number of
automobiles and the consequent rise in the use of LFTs in the automotive
industry will drive growth in the market.ÔÇØ

Looking for more information on this market? Request
a free sample report

TechnavioÔÇÖs sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Global long fiber thermoplastics market
segmentation

This market research report segments the global long fiber
thermoplastics market into the following applications (automotive,
industrial goods, and consumer goods) and key regions (the Americas,
APAC, and EMEA).

Of the three major applications, the automotive segment held the largest
market share in 2017, accounting for nearly 45% of the market. The
market share for this application is expected to increase nearly 1% by
2022. The fastest growing application is automotive, which will account
for nearly 46% of the total market share by 2022.

EMEA was the leading region for the global
long fiber thermoplastics market in 2017, accounting for a
market share of nearly 40%. By 2022, EMEA is expected to continue
dominating the market and register the highest growth, whereas the
Americas and APAC are expected to witness a decline in their respective
market share.

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, TechnavioÔÇÖs report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on TechnavioÔÇÖs comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com