USD 25.61 Billion
Thermoplastic Composites Market Size, Share, and Growth Analysis
Thermoplastic Composites Market By Resin Type (PA, PP), By Fiber Type (Glass, Carbon), By Product Type (SFT, LFT), By End-Use Industry (Transportation, Aersopace & Defesne), By Region -Industry Forecast 2025-2032.
Report ID:
SQMIG15E2548 |
Region:
Global |
Published Date: November, 2024
Pages:
162
|Tables:
123
|Figures:
72
Format -
Thermoplastic Composites Market Insights
Thermoplastic Composites Market size was valued at USD 25.61 Billion in 2023 and is poised to grow from USD 27.56 Billion in 2024 to USD 49.51 Billion by 2032, growing at a CAGR of 7.60% during the forecast period (2025-2032).
Thermoplastic composites have emerged as a highly popular material in multiple industries as demand for lightweight components increases. Advancements in material technologies and growing investments in the development of novel thermoplastic composites are also expected to drive market growth in the future. Rising use of thermoplastic composites in aerospace and defense industry and automotive industry will also benefit market development across the study period and beyond. Rising awareness regarding the benefits of thermoplastic composites use and increasing demand for high-performance materials around the world are also estimated to create new opportunities for thermoplastic composite companies in the long run. On the contrary, high production costs, limited performance in high temperatures, and lack of standardization are slated to be key restraints for thermoplastic composite companies in the future.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Glass Fiber
Fastest Growth
Carbon Fiber
Growth Rate
7.60% CAGR
Global Thermoplastic Composites Market ($ Bn)
Country Share for North America Region (%)
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Thermoplastic Composites Market Segments Analysis
GGlobal Thermoplastic Composites Market is segmented into Resin Type, Fiber Type, Product Type, End-Use Industry, and region. By Resin Type, the market is classified into PA, PP, PEEK, Hybrid, and Others. Depending on the Fiber Type, it is categorized into Glass, Carbon, Mineral, and Others. Based on Product Type, the market is segmented into SFT, LFT, CFT, and GMT. According to End-Use Industry, the market is divided into Transportation, Aersopace & Defesne, Consumer & Electronic Goods, Sports & leisure, Construction, Wind Energy, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Fiber
Glass fiber is projected to account for a dominant share of the global thermoplastic composites demand outlook. High application scope of glass fiber-based thermoplastic composites in multiple industry verticals ranging from aerospace and defense to sporting goods manufacturing. Better thermal conductivity, extreme strength, high heat resistance, less fragility, low weight, and less stiffness are some key characteristics of thermoplastic composites that help this segment maintain its dominant market share in the future. Growing investments in the development of novel glass fiber technologies and materials are also expected to create new business scope for thermoplastic composites companies going forward.
On the other hand, the demand for carbon fiber thermoplastic composites is projected to surge at an impressive pace over the coming years. Growing awareness regarding the benefits of carbon fiber composites and their growing application scope across multiple industry verticals is forecasted to help this segment bring in more revenue going forward. High emphasis on weight reduction in automotive industry and growing demand for high-performance materials are also expected to boost sales of carbon fiber composites in the long run.
Analysis by Resin
Polyamide is projected to account for a major share of the global thermoplastic composites market. This dominance can be directly attributed to the excellent characteristics of polyamide resin such as mechanical performance, corrosion resistance, chemical inertness, and abrasion performance. Moreover, polyamides are easily synthesizable from one or two monomers making them one of the most affordable resins for thermoplastic composites production. The use of polyamide resin allows manufacturers to create high-performance materials at an affordable cost thereby driving the overall sales of thermoplastic composites around the world.
Meanwhile, the demand for polypropylene thermoplastic composites is projected to rise at a significant pace across the forecast period and beyond. High moisture resistance and incredible versatility are key factors that are helping this segment generate more revenue as compared to other types of revenue for the future. Flame resistance, UV light resistance, hydrolytic stability, creep resistance, and other characteristics of polypropylene resin are helping it become one of the most widely used resins for thermoplastic composites production in the long run.
Global Thermoplastic Composites Market By Fiber
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Thermoplastic Composites Market Regional Insights
North America is forecasted to spearhead the global thermoplastic composite demand outlook owing to surging demand for composites and high-performance materials. Rising investments in the development of new materials and rapid adoption of advanced material technologies are also helping North America stay abreast of competition on a global level. Canada and the United States are estimated to be the most opportune markets for thermoplastic composite companies operating in this region. Robust investments in aerospace and defense industry in this region will also create new business scope for thermoplastic composite providers in the long run.
On the other hand, the demand for thermoplastic composites in the Asia Pacific region is slated to increase at a notable pace through 2031. Rapid industrialization and urbanization in this region are key contributors to rising sales of thermoplastic composites. The presence of a robust manufacturing base in countries such as China and India makes them highly opportune markets for thermoplastic composite companies in this region. Increasing automotive manufacturing activity and the growing use of composites to comply with emission and weight reduction regulations will also boost the demand for thermoplastic composites in the Asia-Pacific going forward.
Global Thermoplastic Composites Market By Region
- Largest
- Fastest
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Thermoplastic Composites Market Dynamics
Drivers
High Adoption by Automotive Manufacturers
- Automotive companies are leading the adoption of thermoplastic composites as they try to reduce the weight of their vehicles to improve efficiency and reduce emissions. Growing popularity of electric vehicles will also boost the demand for thermoplastic composites in the automotive industry as focus on range extension increases.
Growing Demand for Wind Energy
- Rising emphasis on sustainability around the world has led to a robust hike in demand for renewable energy. Wind energy is emerging as a popular source of renewable energy, which has led to the increasing establishment of wind energy farms. Use of thermoplastic composites in the production of turbine blades due to their lightweight, durability, and ability to withstand harsh environmental conditions will also drive market growth.
Restraints
High Production Costs
- Although thermoplastic composites are used extensively across multiple industry verticals, their manufacturing costs remain high due to complex manufacturing processes and expensive raw materials. These high costs of production result in expensive end product and slow down market growth potential.
Limited Performance in High Temperature Applications
- While thermoplastic composites are quite versatile for multiple use cases their limited performance at extremely high temperatures compared to thermoset composites, restricts their use in certain high-temperature applications like in the aerospace industry. This characteristic is projected to slow down thermoplastic composites demand outlook to a certain extent in the future.
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Thermoplastic Composites Market Competitive Landscape
Reducing the costs of production and making thermoplastic composites more affordable is slated to be the prime focus of all thermoplastic composites manufacturers. Developing custom thermoplastic composites for industry-specific applications will also create opportunities for thermoplastic composites providers in the future. Collaborations to fast-track the development of low-cost thermoplastic composites could also emerge as a popular strategy for thermoplastic composites market players in the long run.
Top Players in Thermoplastic Composites Market
- Hexcel Corporation
- Celenase Corporation
- DOWDUPONT INC
- SOLVAY
- Toray Industries, Inc.
- SABIC
- Lanxess A.G.
- BASF SE
- Avient Corporation
- Sumitomo Chemical
- Covestro AG
- Victrex plc
- Technocompound gmbh
- SUPREM SA
- Kingfa SCI. & TECH. CO., LTD
- SBHPP
- DAICEL POLYMER LTD
- RTP company
- Ascend performance materials llc
- RTP Company
Recent Developments
- In September 2024, Toray Advanced Composites, a leading name in the composites business announced the launch of a new zzz material. Toray Cetex TC1130 PESU thermoplastic composite material was intended to fulfil the demand for sustainable and lightweight materials from different industry verticals.
- In September 2024, Alformet GmbH a company based in Germany launched a new thermoplastic composite tube designer. The new web shop is expected to help users and professional designers get custom thermoplastic composite tubes with ease and thereby favor sales of thermoplastic composites as well.
- Back in October 2023, Avient Corporation, a renowned material solutions provider announced the launch of new zzz panels. The company unveiled its ThermoBallistic™ ballistic-resistant panels at the CAMX 2023 event and expanded its product portfolio as well.
Thermoplastic Composites Key Market Trends
- Development of Bio-based Thermoplastic Composites: Thermoplastic composites companies are projected to focus on developing thermoplastic composites made from biodegradable and natural materials to capitalize on the sustainability trend. Growing efforts of reducing reliance on fossil fuels and increasing shift towards renewable energy will also favor sales of bio-based thermoplastic composites in the long run.
- Development of Hybrid Composites: Thermoplastic composite manufacturers are projected to invest heavily in the research and development of new hybrid composites that combine the strengths of thermoset and thermoplastic composites to provide users the best of both worlds.
Thermoplastic Composites Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, high demand for lightweight high-performance materials and rising use of thermoplastic composites in aerospace and automotive industries are projected to drive market growth in the future. On the contrary, the high costs of production and limited performance in high temperatures are slowing down sales of thermoplastic composites. Rapid urbanization and industrialization are helping Asia Pacific emerge as the fastest-expanding market for thermoplastic composites companies in the world. Development of bio-based thermoplastic composites will also create new opportunities for thermoplastic composites providers in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 25.61 Billion |
| Market size value in 2032 | USD 49.51 Billion |
| Growth Rate | 7.60% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermoplastic Composites Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermoplastic Composites Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermoplastic Composites Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermoplastic Composites Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermoplastic Composites Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermoplastic Composites Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Thermoplastic Composites Market Report Snapshots
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