HOME Research Insight New Product Developments & Launches was the key Development Strategy Adopted by Leading Market Players to Achieve Growth in the Long Fiber Thermoplastics Market

New Product Developments & Launches was the key Development Strategy Adopted by Leading Market Players to Achieve Growth in the Long Fiber Thermoplastics Market

Long fiber thermoplastics have various applications due to their versatile properties. Long fiber thermoplastics are being rapidly used in recent years, as they provide improved performance, corrosion resistance, design freedom, and weight reduction as compared to traditional materials. These composites have excellent mechanical properties and stiffness-to-weight ratio, which are desirable properties in the automotive industry. The global long fiber thermoplastics market is projected to reach USD 4.26 Billion by 2021, at a CAGR of 8.96% from 2016 to 2021

Key companies offering long fiber thermoplastics are involved in new product developments or launches strategies to gain a competitive edge over other long fiber thermoplastics manufacturing companies and offer customers innovative products. This strategy accounted for a share of 42% of all growth strategies adopted by leading companies from 2012 to 2016. Companies adopted this strategy to increase their product portfolio and gain access to new potential markets. Key companies also adopted the expansions strategy to improve their distribution channels, strengthen their global presence, and meet the growing customer demands. The agreements and partnerships strategy accounted for a 15% share of the total number of strategies adopted by key companies from 2012 to 2016. Leading companies acquired small composite manufacturing companies in emerging regions to expand their global reach.

The major manufacturers profiled in this report include Celanese Corporation (U.S.), PolyOne (U.S.), Solvay SA (Belgium), PlastiComp Inc. (U.S.), RTP Company (U.S.), Lanxess AG (Germany). These companies have adopted various organic and inorganic growth strategies, such as agreements and partnerships, expansions, mergers & acquisitions, and new product developments or launches to expand their global presence and increase their penetration in the global long fiber thermoplastics market.

Celanese Corporation (U.S.) is one of the key manufacturers of long fiber thermoplastics that offers Celstran LFRT, Compel LFRT, and other products. The company has undertaken strategies such as product enhancement and launches in the long fiber thermoplastics market, and focuses on differentiated business models, proprietary technology, and competitive cost structures. As a part of its growth strategy, the company is focused on the expansion of its capacity to cater to the increasing demand for long fiber thermoplastics. In 2014, the company expanded its manufacturing capability of Celstran long fiber thermoplastics at its Suzano, Brazil facility. This development helped the company to directly serve its customers in Brazil and Latin America, where there is growth potential for the market, especially in the automotive industry.

Solvay S.A. (Belgium) manufactures long fiber thermoplastics through its advanced materials segment. Solvay operates with 145 sites in 53 countries and has presence in Europe, North America, Latin America, and Asia-Pacific. In 2015, the company acquired EPIC polymers (Germany), which helped the company expand its specialty polymers business that includes long fiber thermoplastics and offer new structural parts to the automotive industry.

Related Reports:

Long Fiber Thermoplastics Market by Resin Type (Polypropylene, Polyamide, Polybutylene Terephthalate), Fiber Type (Glass Fiber, Carbon Fiber), Application (Automotive, Electrical & Electronics, Consumer Goods, Sporting Goods), and Region - Global Forecast to 2021

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