Thermoplastic Composites Market

Partnerships, Agreements & Contracts, Expansions & Investments, Acquisitions, and New Product Developments are the Key Strategies Adopted by the Leading Players Operating in the Thermoplastic Composites Market

Thermoplastic composites are materials, which are reinforced with fibers such as carbon, glass, or other fibers (natural, aramid, and basalt) using a thermoplastic polymer matrix. The strength and stiffness of thermoplastic composites depend on the type of both, reinforcement fiber and thermoplastic polymer matrix being used. Thermoplastic composites are easily recyclable and as such, can be melted and remolded into desired shapes a number of times. Thermoplastic composites are being increasingly used in electrical & electronics, transportation, and aerospace & defense applications. Thermoplastic composites are used as replacements for steel and aluminum as they are lightweight and offer high strength. The thermoplastic composites market is projected to grow from USD 28.09 Billion in 2017 to USD 41.93 Billion by 2022, at a CAGR of 8.34% from 2017 to 2022.

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.

Related Reports:

Thermoplastic Composites Market Fiber Type (Glass, Carbon), Resin Type (PP, PA, PEEK), Product Type (Short Fiber, Long Fiber, Continuous Fiber, Glass Mat), Application (E&E, Transportation, A&D) and Region - Global Forecast to 2022

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Report Code
CH 3527
Published ON
Nov, 2017
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