The latest report by IMARC Group, titled “Thermoplastic Composites Market Report by Fiber Type (Glass Fiber, Carbon Fiber, and Others), Product (Glass Mat Thermoplastics (GMT), Advanced Thermoplastic Composites (ATC)), Resin Type (Polypropylene (PP), Polyamide (PA), Polyether ether ketone (PEEK), and Others), End User Industry (Automotive, Aerospace and Defense, Oil and Gas, Construction, Medical, and Others), and Region 2025-2033,” finds that the global thermoplastic composites market reached a value of USD 19.3 Billion in 2024. Thermoplastic composites (TMC) are advanced materials that have evolved from structural polymer composites. They are formed by combining a resin matrix, armature and operational additives in a hot-melt impregnation process. They are also thermoformable, heat-weldable, and recyclable in nature. TMCs exhibit high thermal and oxidative stability, enhanced toughness, solvent resistance, low dielectric constant, and increased impact resistance. In recent years, they have gained prominence as they provide greater component robustness, excellent formability, corrosion resistance, high strength, and extended shelf life compared to thermostat composites.
Global Thermoplastic Composites Market Trends:
The market is primarily driven by the significant growth of the automotive industry. This can be accredited to the growing demand for lightweight materials that reduce the overall weight and enhance fuel efficiency in vehicles. Apart from this, TMC is utilized to minimize the total weight and corrosion in the aircraft structure in the aerospace industry. In addition, the rising concerns regarding environmental pollution and carbon dioxide (CO2) emissions have resulted in the adoption of TMCs to develop electric vehicles (EVs). Furthermore, various research and development (R&D) activities have led to the introduction of cost-effective and innovative solutions, thereby creating opportunities for the leading key players. Looking forward, the market value is expected to reach USD 30.8 Billion by 2033, exhibiting a CAGR of 5.06% during the forecast period (2025-2033).
Market Summary:
Report Features | Details |
---|---|
Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Fiber Type, Product, Resin Type, End User Industry, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Arkema, Avient Corporation, BASF SE, Celanese Corporation, DuPont de Nemours Inc., Hexcel Corporation, Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Advanced Materials (Mitsubishi Chemical Holdings Corporation), PPG Industries Inc., SABIC (Saudi Arabian Oil Co.) and Solvay |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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