The Thermoplastic Composites Market is projected to grow from USD 28.0 billion in 2019 to USD 36.0 billion by 2024, at a CAGR of 5.2% during the forecast period. The thermoplastic composites market is witnessing significant growth because of the growing demand from applications such as transportation, consumer goods & electronics, sports & leisure, and aerospace & defense.
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The key players operating in the thermoplastic composites market are adopting both, inorganic as well as organic growth strategies to strengthen their position in the thermoplastic composites market. These companies have adopted partnerships, agreements & contracts, expansions & investments, acquisitions, and new product developments to enhance their position in the market.
For instance, Lanxess AG (Germany), which is one of the leading manufacturers of thermoplastic composite products and materials, is focusing on strategic approaches, namely, new product developments, partnerships, and agreements & contracts to enhance its position in the thermoplastic composites market. In October 2017, the company provided its thermoplastic composite product, namely, Tepex to a Germany-based car manufacturer for developing engines under trays for different model series offered by it. This development enabled Lanxess AG (Germany) to boost its production of thermoplastic composites. Moreover, in June 2016, the company developed multiaxial Tepex.
The major players operating in the thermoplastic composites market are Celanese Corporation (US), DuPont (US), Royal DSM N.V. (Netherlands), Koninklijke Ten Cate bv (Netherlands), SABIC (Saudi Arabia), Lanxess AG (Germany), Solvay S.A. (Belgium), BASF SE (Germany), PlastiComp, Inc. (US), PolyOne Corporation (US), and Quadrant AG (Switzerland), among others. These companies have a well-established presence in the thermoplastic composites market and are continuously making efforts to improve their business strategies and innovate their product portfolios to remain competitive in the market.
For instance, in January 2016, Celanese Corporation (US) expanded its thermoplastic business by including Nylon 6 and Nylon 6/6 thermoplastic polymers in its product portfolio. This new product development enabled the company to cater to requirements of its customers from the automotive, consumer goods, and electrical & electronics end-use industries. Moreover, in October 2017, the company acquired SO.F.TER. Group (Italy), which enabled Celanese Corporation (US) to take hold of engineering thermoplastics (ETPs) and thermoplastic elastomers (TPEs) product portfolio as well as customer agreements, manufacturing facilities, technologies, and commercial facilities of SO.F.TER. Group (Italy). This acquisition helped Celanese Corporation (US) to enhance its engineered materials business, thereby further boosting its thermoplastic composites business.
Solvay S.A. (Belgium), which is a key manufacturer and provider of thermoplastic composites, has adopted the strategies of partnerships, agreements & contracts, acquisitions, expansions & investments, and new product developments to enhance its position in the thermoplastic composites market. For instance, in June 2017, Solvay (Belgium) and GKN Aerospace (UK) signed an agreement to combine their expertise to carry out technological developments in the manufacturing of thermoplastic composite materials and increase their cost efficiency.
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Target Audience
- Manufacturers of Thermoplastic Composites
- Suppliers of Raw Materials
- Distributors and Suppliers of Thermoplastic Composites
- End-use Industries
- Industry Associations
The key players operating in the thermoplastic composites market are adopting both, inorganic as well as organic growth strategies to strengthen their position in the thermoplastic composites market. These companies have adopted partnerships, agreements & contracts, expansions & investments, acquisitions, and new product developments to enhance their position in the market.
For instance, Lanxess AG (Germany), which is one of the leading manufacturers of thermoplastic composite products and materials, is focusing on strategic approaches, namely, new product developments, partnerships, and agreements & contracts to enhance its position in the thermoplastic composites market. In October 2017, the company provided its thermoplastic composite product, namely, Tepex to a Germany-based car manufacturer for developing engines under trays for different model series offered by it. This development enabled Lanxess AG (Germany) to boost its production of thermoplastic composites. Moreover, in June 2016, the company developed multiaxial Tepex.
The major players operating in the thermoplastic composites market are Celanese Corporation (US), DuPont (US), Royal DSM N.V. (Netherlands), Koninklijke Ten Cate bv (Netherlands), SABIC (Saudi Arabia), Lanxess AG (Germany), Solvay S.A. (Belgium), BASF SE (Germany), PlastiComp, Inc. (US), PolyOne Corporation (US), and Quadrant AG (Switzerland), among others. These companies have a well-established presence in the thermoplastic composites market and are continuously making efforts to improve their business strategies and innovate their product portfolios to remain competitive in the market.
For instance, in January 2016, Celanese Corporation (US) expanded its thermoplastic business by including Nylon 6 and Nylon 6/6 thermoplastic polymers in its product portfolio. This new product development enabled the company to cater to requirements of its customers from the automotive, consumer goods, and electrical & electronics end-use industries. Moreover, in October 2017, the company acquired SO.F.TER. Group (Italy), which enabled Celanese Corporation (US) to take hold of engineering thermoplastics (ETPs) and thermoplastic elastomers (TPEs) product portfolio as well as customer agreements, manufacturing facilities, technologies, and commercial facilities of SO.F.TER. Group (Italy). This acquisition helped Celanese Corporation (US) to enhance its engineered materials business, thereby further boosting its thermoplastic composites business.
Solvay S.A. (Belgium), which is a key manufacturer and provider of thermoplastic composites, has adopted the strategies of partnerships, agreements & contracts, acquisitions, expansions & investments, and new product developments to enhance its position in the thermoplastic composites market. For instance, in June 2017, Solvay (Belgium) and GKN Aerospace (UK) signed an agreement to combine their expertise to carry out technological developments in the manufacturing of thermoplastic composite materials and increase their cost efficiency.
Premium Insights of the report:
- Attractive Opportunities in the Thermoplastic Composites Market
- Thermoplastic Composites Market, By Product Type
- Thermoplastic Composites Market, By Application and Region
- Thermoplastic Composites Market, By Resin Type
- Thermoplastic Composites Market, By Fiber Type
- Thermoplastic Composites Market, By Country
Don't miss out on business opportunities in Thermoplastic Composites Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow.
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=111944669
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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