Global consumption of Long Fiber Thermoplastics is projected to exceed 326 thousand tons by 2018, driven by burgeoning automotive applications as per Global Industry Analysts, Inc.
Driven by advantages such as creep resistance, low warpage, and impact strength, Long Fiber Thermoplastics (LFTs) are finding increased use as metal substitutes in a number of structural and semi-structural applications. Demand for LFT worldwide grows in tandem with the developments in the automotive industry, as about 78% of LFT materials go into manufacturing structural parts of automobiles. The trend towards sleek, small, lightweight vehicles is playing an instrumental role in increasing opportunities for LFT across the automotive sector because the stiffness offered by the composite material is ideal for structural parts of shorter lengths.
End-of-Life legislations, particularly in Europe, which make recycling of materials compulsory is also driving growth in the market. Long Glass Fiber Reinforced Polypropylene (LGFRP) is growing in popularity among auto makers, owing to the latter’s mono-material construction that enables recyclability. The lightweight, recyclability, and low cost advantage enjoyed by LFTs will continue to offer long term growth opportunities. LFT consumption in non-automotive applications is forecast to grow at a CAGR of 5.3% over the analysis period.
Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market led by strong growth in China and India. Polypropylene is the dominant resin type for long fiber thermoplastics. In terms of end-use, the automotive sector continues to be the largest LFT consuming industry. LFTs are used for manufacturing door modules, front-end modules, instrument panels, and underbody shields, among others. Non-automotive applications for LFT include industrial, and general goods, among others.
Key players covered in the report include Composite Technologies Co. LLC, CPI Binani Inc., Daicel Polymer Limited, JNC Corporation, PlastiComp™ LLC, PPG Industries, RTP Company, SABIC EUROPE BV, SAMBARK LFT Co. Ltd., Shanghai Genius Advanced Material Co., Sumitomo Chemical Company Ltd., Ticona Engineering Polymers, and TechnoCompound GmbH, among others.
