Composites market data specialists have released a new report saying that the global thermoplastic composites market is expected to witness a compound annual growth rate (CAGR) of 4.9 percent over the next five years and reach an estimated $8.2 billion in 2017. Transportation is the largest market for thermoplastic composites and is expected to drive the market over the forecast period.
Continuous fiber reinforced thermoplastic composites (CFRT) material is growing in applications where weight savings, fuel savings, and other performance benefits are critical. Nevertheless, cost continues to be a limiting factor for developing new applications. The automotive sectors in the United States and Western Europe are expected to show steady growth in next five years due to the acceptance of new composites applications; however, growth in global automotive will be driven by the Asian and Eastern European markets.
This research report contains industry background and characteristics, competitive analysis, market trends and forecast, growth opportunities for TPC and many other elements. All four forms of fiber reinforced thermoplastic materials such as LFT, SFT, GMT (glass mat thermoplastics), and CFRT (continuous fiber reinforced thermoplastic composites) are detailed in the report.