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Development trend of composite materials in 2018-2023
Writer:admin    Released:2019-06-25 16:57:32    Type:【L】【M】【S

In the future, the global thermoplastic composites market has good prospects for growth, with growth opportunities in the transportation, consumer goods, industrial and construction industries. By 2023, global thermoplastic composites are expected to reach $16.3 billion, with a compound annual growth rate of 3.7% from 2018 to 2023. The main growth driver for this market is the increasing demand for lightweight and environmentally sustainable materials and the replacement of metallic materials with composite materials in different end-use industries.

In the global thermoplastic composites market, glass, carbon and aramid fibers are used together with thermoplastic resin systems to produce composites such as long-fiber thermoplastics (LFT), short-fiber thermoplastics (SFT), and fiberglass felt thermoplastics ( GMT) and continuous fiber thermoplastics (CFT). Lucintel predicts that SFT will remain the largest market due to its extensive use in injection molded products. Lucintel expects CFT to achieve the fastest growth during the forecast period due to increased demand for continuous fiber reinforced high performance thermoplastic composites.

In the global thermoplastic composites market, transportation will continue to be the most end-use industry of value and quantity due to increased demand for lightweight materials. Due to increased demand for lightweight and high performance plastic compounds, the consumer segment is expected to achieve the highest growth during the forecast period.

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