Page 28 - Plastics News June 2017

FEATURES
FEATURES

Rising use in automotive manufacturing to propel global use of

Long Fiber Thermoplastics

Long Fiber Thermoplastics Market to grow $ 4.6 billion by 2021 says a market report

he global long fiber thermoplastics market has been The primary beneficiary of the composite materials
Tdriven primarily by the rising use of polymers and produced by the Long Fiber Thermoplastics Market is
plastics in a diverse range of manufacturing industries, as automotive sector. Light-weight and tough long fiber
per Transparency Market Research. Long fiber thermoplastics thermoplastic material allows vehicle manufacturers to
present several advantages over conventional manufacturing bring down the machine’s weight and improve mileage.
materials, such as light weight and easy reusability. Their Additional benefits like superior structural strength and
light weight has become a key reason for the growing demand stability also come along in the overall package. Since the
from the global long fiber thermoplastics market from the automotive industry is largely concentrated in Asia-Pacific
consumer electronics and automotive industries. Lightweight and Europe, both of these regions are expected to drive
materials enhance automotive design as well as adding market demand during the forecast period.
to the fuel efficiency of the vehicle, while the ergonomic The rapid growth of the consumer electronics industry
boost imparted by lightweight materials has made long fiber in developing Asia Pacific countries has been a crucial
thermoplastics crucial for the consumer electronics market. driver for the global long fiber thermoplastics market.
Like most plastics and polymers, long fiber thermoplastics This has driven the demand from the Asia Pacific long
also offer high resistance against corrosion as well as heat. fiber thermoplastics market, and has also forced consumer
This is also likely to be a crucial driver for the global long fiber electronics manufacturers in developed economies to
thermoplastics market, as the integrity of the manufacturing consider long fiber thermoplastics in order to improve their
material is vital to the both automotive and consumer pricing structure as well as enhance the ergonomics of their
electronics sectors. products. The rising disposable income of consumers in Asia
Due to the intense Pacific is likely to remain an important driver for the global
competition in both long fiber thermoplastics market in the coming years.
sectors, the aesthetic Asia Pacific has also been vital for the global long fiber
benefits imparted thermoplastics market due to the growing automotive
by the corrosion- industry in the region. The Chinese automotive industry
resistant long fiber has taken rapid steps to join the ranks of global giants in
thermoplastics have the last few years, while South Korea and Japan have been
also become important among the conventional leaders in the global automotive
for the market. market. The rising regulatory support to measures that
Scope & Regional Forecast of the Long Fiber reduce fuel emission from cars is likely to drive the
Thermoplastics Market demand from the global long fiber thermoplastics market,
as the lightness imparted by long fiber thermoplastics has a
The Long Fiber Thermoplastics Market has seen a sudden significant beneficial effect on the vehicle’s fuel efficiency.
rise in demand for composite materials during the last few Despite the strong growth prospects of the Asia Pacific
years. As climate change takes place rapidly, government market for long fiber thermoplastics, Europe is likely to
across the world have made a point by implementing tough be the leading regional contributor to the global market
regulations regarding the emission of carbon dioxide. in the coming years. The steady technological progression
Automotive manufacturers have responded to this change of the automotive industry in Europe has made it easier
by shifting their attention to carbon fiber supplies which for companies in the region to incorporate manufacturing
are more eco-friendly and efficient. Carbon fiber material advances in their operations. The steady government
like long fiber thermoplastics have benefited to a great support to environmental initiatives has also bolstered the
extent as they are gradually being preferred by automotive long fiber thermoplastics market in Europe and is likely to
manufacturers to replace traditional metals.
remain a key driver for the market in the coming years.

Plastics News | June 2017 28