The Latest Thermoplastic Composites Industry Statistics Explained
Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.
This statistic indicates that the Asia-Pacific region holds the largest share of consumption in the global market, with significant contributions primarily coming from countries like China and India. This dominance suggests that these countries are key players in the market and have a substantial impact on overall consumption patterns. The high consumption levels may be driven by various factors such as population size, economic growth, consumer demand, industrial production, and government policies, among others. The strong presence of China and India in the consumption landscape of the Asia-Pacific region implies that they are pivotal markets for businesses looking to expand and succeed in this region.
The European market size for thermoplastic composites was valued at $1.8 billion in 2016.
The statistic indicates that the total value of the European market for thermoplastic composites reached $1.8 billion in 2016. Thermoplastic composites are materials made from a combination of thermoplastic polymers and reinforcing materials, such as carbon fiber or glass fibers. This market size figure represents the total revenue generated from the production, sale, and distribution of thermoplastic composites within the European market during the specified year. It reflects the significant demand for these materials in various industries, such as automotive, aerospace, and construction, and highlights the economic importance of the thermoplastic composites industry within Europe.
Japan was leading in the consumption of thermoplastic composites, with 45.9% of the overall volume in 2018.
The statistic indicates that in 2018, Japan held the highest market share in the consumption of thermoplastic composites, accounting for 45.9% of the total volume consumed globally. This suggests that Japan had a significant presence and influence in the thermoplastic composites market during that year. The high consumption rate may be attributed to various factors such as strong demand from industries like automotive, aerospace, and construction, as well as the country’s technological advancements and manufacturing capabilities in producing and utilizing thermoplastic composites. This information is valuable for businesses, policymakers, and industry stakeholders looking to understand market trends and opportunities in the thermoplastic composites sector.
The North American region is projected to witness the highest compound annual growth rate of over 5.5% during the forecast period (2018-2023).
This statistic indicates that the North American region is expected to experience the highest compound annual growth rate (CAGR) among all regions, averaging over 5.5% per year between 2018 and 2023. This forecast suggests that the North American market is poised for significant expansion and economic development over the specified period. Factors such as technological advancements, market demand, investment opportunities, and favorable economic conditions may contribute to driving this growth rate in the region. Businesses and investors may find this information valuable for strategic planning, resource allocation, and decision-making in the North American market during the forecast period.
The thermoplastic composites market for electrical & electronics applications is expected to grow at a CAGR of 7% from 2016 to 2021.
This statistic indicates the compound annual growth rate (CAGR) for the thermoplastic composites market within the electrical & electronics applications sector over a five-year period from 2016 to 2021. A CAGR of 7% suggests that the market is projected to expand steadily at the average annual rate of 7% during the specified timeframe. This growth rate signifies a positive trend in demand and adoption of thermoplastic composites within the electrical & electronics industry, likely driven by factors such as advancements in technology, cost-effectiveness, and superior material properties. Overall, this statistic highlights a promising outlook for the thermoplastic composites market catering to electrical & electronics applications with sustained growth anticipated in the coming years.
In 2020, thermoplastic composites production in the United States was projected to reach 627,000 metric tons.
The statistic “In 2020, thermoplastic composites production in the United States was projected to reach 627,000 metric tons” indicates the estimated total amount of thermoplastic composites manufactured within the United States during the year 2020. Thermoplastic composites are materials made up of a thermoplastic polymer matrix reinforced with fibers or other additives, commonly used in various industries such as automotive, aerospace, and construction. This statistic suggests a significant level of production activity in the thermoplastic composites industry in the United States for the year 2020, highlighting the importance of these materials in manufacturing processes and the economy.
In terms of volume, the engineering resins segment accounted for 58.6% share of the thermoplastic composites market in 2019.
This statistic indicates that in 2019, the engineering resins segment held a significant portion of the thermoplastic composites market, with a share of 58.6% in terms of volume. This suggests that a majority of thermoplastic composites produced and consumed in that year were attributed to engineering resins, highlighting its importance within the industry. This information is valuable for understanding the market dynamics and trends, as well as for companies operating in the thermoplastic composites sector to make informed decisions regarding production, marketing, and investment strategies.
Glass fibre was the majorly used reinforcement type and accounted for more than 65% market share in the thermoplastics composites market in 2019.
The statistic suggests that glass fibre was the most commonly utilized type of reinforcement material in the thermoplastics composites market in 2019, capturing a substantial portion of the market at over 65% market share. This indicates that glass fibre was preferred over other reinforcement types, such as carbon fibre or natural fibres, for strengthening thermoplastic composite materials in various industries. The high market share for glass fibre implies that it is a cost-effective and reliable option for enhancing the mechanical properties of thermoplastics, making it a popular choice among manufacturers and end-users seeking durable and lightweight composite materials.
The thermoplastic composites industry is expected to create incremental opportunity worth more than $2 billion between 2016 and 2026.
This statistic suggests that the thermoplastic composites industry is projected to experience significant growth over the 10-year period from 2016 to 2026, with the creation of additional economic opportunities estimated to be valued at over $2 billion. This incremental opportunity may arise from increased demand for thermoplastic composite materials across various sectors such as automotive, aerospace, construction, and consumer goods. The forecasted growth in the industry indicates a trend towards the adoption of thermoplastic composites for their lightweight, durable, and customizable properties, driving investment and expansion within the market.
China accounts for 45% share in global Thermoplastic Composites consumption.
This statistic indicates that China is a significant consumer of thermoplastic composites, representing 45% of global consumption. Thermoplastic composites are materials made from combining thermoplastic polymers with reinforcing materials like fibers to enhance their strength and stiffness. The fact that China accounts for almost half of the global consumption suggests that it is a key player in the market for these advanced composite materials. This high consumption could be driven by various factors such as the country’s growing industrial sectors, infrastructure development, and increasing demand for lightweight and durable materials in sectors like automotive, aerospace, construction, and consumer goods.
In 2015, demand for thermoplastic composites in Brazil was 260.3 kilotons and it is anticipated to reach 369.9 kilotons by 2024.
The statistic indicates that the demand for thermoplastic composites in Brazil experienced growth over the specified period from 2015 to the anticipated year of 2024. Specifically, the demand is reported to have increased from 260.3 kilotons in 2015 to a projected 369.9 kilotons by 2024. This represents a significant rise of approximately 42% in the expected demand for thermoplastic composites over the nine-year period. The data suggests a trend of increasing reliance on thermoplastic composites within the Brazilian market, likely driven by factors such as technological advancements, cost efficiency, and potential benefits in various industries.
The carbon fiber-based thermoplastic composites are anticipated to grow at a CAGR of over 8% by 2027.
This statistic indicates that the market for carbon fiber-based thermoplastic composites is expected to experience significant growth over the forecast period, with a Compound Annual Growth Rate (CAGR) of over 8% until 2027. This growth rate suggests a substantial increase in demand for these composites, likely due to their superior properties such as high strength-to-weight ratio, corrosion resistance, and versatility. The increasing adoption of carbon fiber-based thermoplastic composites across various industries such as aerospace, automotive, and sporting goods is expected to drive this growth. Overall, this statistic highlights a positive trend in the market for carbon fiber-based thermoplastic composites, indicating potential opportunities for manufacturers, suppliers, and other stakeholders in the industry.
The aerospace & defense sector is anticipated to reach over USD 3.79 billion by 2027 due to the rising demand for thermoplastic composites.
This statistic suggests that the aerospace & defense sector is expected to experience significant growth, with projected revenues exceeding USD 3.79 billion by the year 2027. This growth is attributed to the increasing demand for thermoplastic composites within the industry. Thermoplastic composites are being increasingly utilized in aerospace and defense applications due to their lightweight properties, high strength-to-weight ratio, and corrosion resistance, making them a preferred choice for manufacturers. The rising demand for these advanced materials is driving market growth and is expected to continue to do so in the coming years, resulting in the sector reaching substantial revenue figures by 2027.
The thermoplastic polyurethane (TPU) is projected to grow at a CAGR of above 6.4% over the forecast period.
This statistic indicates that the market for thermoplastic polyurethane (TPU) is expected to experience significant growth over the forecast period, with a compound annual growth rate (CAGR) surpassing 6.4%. The CAGR is a measure of the average annual growth rate of the market during the specified time frame, suggesting a steady and sustained increase in demand for TPU. This projection highlights a positive trend in the TPU market, indicating a strong potential for expansion and indicating opportunities for businesses operating in or entering this industry to capitalize on the growing demand for TPU products.
In terms of value, the global thermoplastic composites market is projected to reach USD 36 Billion by 2025.
This statistic indicates that the global thermoplastic composites market is anticipated to see substantial growth over the next few years, with a projected value of USD 36 billion by 2025. This suggests a significant increase in demand and adoption of thermoplastic composites across various industries such as automotive, aerospace, and construction. The growth in this market can be attributed to factors such as the lightweight and high-strength properties of thermoplastic composites, which make them attractive for use in a wide range of applications. This projection reflects a promising outlook for the thermoplastic composites industry, highlighting potential opportunities for manufacturers, suppliers, and other stakeholders in the market.
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