MCP-6470: LONG FIBER THERMOPLASTICS (LFT) – A GLOBAL STRATEGIC BUSINESS REPORT
February 14, 2016 - Focus on Automotive Lightweighting Fuels Global Demand for Long Fiber Thermoplastics (LFT), According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Long Fiber Thermoplastics (LFT) market. The global market for Long Fiber Thermoplastics (LFT) is projected to reach 480.7 million metric tons by 2022, driven by growing automobile production, regulatory requirements to improve fuel efficiency in automobiles, expanding applications and technological advancements.
Long Fiber Thermoplastics (LFT), also known as Long fiber reinforced thermoplastics (LFRTs), are engineered polymers, which fall between short fiber thermoplastics and continuous fiber thermoplastics, and bridge mass market and advanced composite applications. LFTs provide superior mechanical properties pertaining to strength, crashworthiness, fatigue endurance, creep, and stiffness when compared with short fiber thermoplastics, which an ideal substitute for metals in a number of structural and semi-structural applications and conventional reinforced thermoplastics in various applications. In addition to these inherent material benefits, the market for LFT is driven by strong demand from the automotive sector, the single largest application market. The trend towards replacing metals with composites in various end-use applications to reduce weight yet retain strength is driving demand for LFT. The growth in the market is also driven by increasing technological advancements, development of novel applications, and growing demand for hybrid products and LFTs with higher performance characteristics.
Glass and carbon represent the fibers that are used in making LFT. While demand for both fiber and glass based LFT is strong, demand for long glass fiber thermoplastics is expected to gain faster growth due to its predominant use in the automotive industry as well as increasing adoption in electrical/electronic applications. One of the major growth restraints is the prohibitively higher price of LFT, particularly for certain applications. LFTs that combine the glass and carbon fibers to form a composite/hybrid LFT represent new technological advancements in the market, which promise to address this problem as cost reduction is one of the major benefits of the material. Hybrid LFT, hence, are expected to drive significant growth in the market as lower cost of material makes them attractive for several existing and new applications. Additionally, low-cost natural fiber reinforcements, which are derived by blending wood or natural fibers, such as jute, flax, hemp, and kenaf with polymers such as polypropylene, polyethylene or PVC, are finding increasing applications among major end-use industries.
As stated by the new market research report on Long Fiber Thermoplastics (LFT), Europe represents the largest market worldwide, supported by strong demand for lightweight composite materials from a wide range of end-use sectors. Rest of World, comprising the Middle East and Africa, ranks as the fastest growing market with a CAGR of 10.8% through the analysis period. The automobile industry represents the largest end-use market, while polypropylene-based LFT or Long Glass Fiber Reinforced Polypropylene represents the largest product market.
Major players covered in the report include Celanese Corporation, Daicel Polymer Limited, PlastiComp Inc., PolyOne Corporation, PPG Fiber Glass, RTP Company, SABIC, Solvay, Sumitomo Chemical Company Ltd. and TechnoCompound GmbH among others.
The research report titled “Long Fiber Thermoplastics (LFT): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Long Fiber Thermoplastics (LFT) in value terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Global market for LFT is also analyzed by applications – Automotive (Door Modules, Front-End Modules, Instrument Panels, Underbody Shields and Other Automotive Applications) and Non-Automotive (Industrial & General Goods and Other Non-Automotive Applications). Global and regional market for Long Fiber Thermoplastics is further analyzed by the following resin types – Polypropylene and Others.
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