Thermoplastic Resins Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Global Thermoplastic Resins Market is expected to register a CAGR of approx. 6% over the period of 2022-2028.  The global thermoplastic resins market can be attributed to the frequently used of thermoplastic resin in the automotive industry for applications that include under-the-hood components, interiors, and exteriors of automobiles and increasing adoption in vehicle manufacturing, especially in electric cars, thus, rising the adoption of organic growth strategies among key industry players around the globe. For instance, the Norwegian government is giving a massive package of subsidies worth Euro 17,000 on purchasing a small class ICE car, while the UK government is paying buyers of vehicles emitting less than 75 g/km a one-time premium of GBP 4,000-7,000. Owing to these glaring statistics manufacturers are focused on launching innovative and technologically effective vehicles with thermoplastic resins thus increasing the demand for the thermoplastic resins market. According to UnivDatos Market Insights (UMI)’ research report “global thermoplastic resins market”, the market is expected to witness robust growth during the forecast period 2022-2028F. Moreover, the rising demand for practical and lightweight materials and the increasing per capita income of consumers is fueling the demand for the thermoplastic resins market. Furthermore, the growing penetration of composite materials by replacing metals that are highly used in gardens, conferences etc., is expected to drive the market for thermoplastic resins market in the coming years.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=31454&utm_source=linkedin&utm_medium=himan

Based on the component, the thermoplastic resins market is segmented into polypropylene, polyamide, polybutylene terephthalate, polyphenylene sulfide, and others. The polyphenylene sulfide segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The polyamide segment is anticipated to have the largest market share in terms of revenue due to its growing applications across numerous industries, including defense, aerospace, and automotive. Due to their excellent wear resistance and ductility, polyamide-based materials are especially advantageous for automotive applications.

Based on the end-users, the market is fragmented into aerospace and defenses, transportation, consumer goods, electrical & electronic, and others. The aerospace and defense segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period Because of their light weight, thermoplastic composites are used in the aerospace industry, allowing for a variety of efficient designs for a variety of applications.

Asia Pacific witnessed extensive growth

For a better understanding of the market adoption of thermoplastic resins, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The Asia Pacific constitutes a major market for the thermoplastic resins industry wing to the high production of commercial and passenger vehicles, rising manufacturing units, and continued growth of electronic manufacturing. China accounts for nearly one-fourth of the world’s plastic production capacity and has more than 15,000 plastic factories.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=31454&utm_source=linkedin&utm_medium=himan

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global thermoplastic resins market are BASF SE, Celenase Corporation, Lanxess AG, Solvay S.A, Mitsubishi Chemical Advanced Materials, Toray Industries, Inc., Polyone Corporation, LyondellBasell Industries N.V., EMS-GRIVORY, INEOS among others. Several M&A’s along with partnerships have been undertaken by these players Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global Thermoplastic Resins Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.  

Market Segmentation:

1.      By Resin Type (Polypropylene, Polyamide, Polybutylene Terephthalate, Polyphenylene Sulfide, Others)

2.      By Compound (Short Fiber-Reinforced Thermoplastic, Long Fiber-Reinforced Thermoplastic, Continuous Fiber-Reinforced Thermoplastic, Glass-Mat Thermoplastic)

3.      By Composite Type (Glass Fiber-Reinforced Plastics and Carbon Fiber-Reinforced Plastics)

4.      By End-User (Aerospace and Defense, Transportation, Consumer Good, Electrical & Electronic, Others)

5.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.      By Company (BASF SE, Celenase Corporation, Lanxess AG, Solvay S.A, Mitsubishi Chemical Advanced Materials, Toray Industries, Inc., Polyone Corporation, LyondellBasell Industries N.V., EMS-GRIVORY, INEOS)

Key questions answered in the study:

1.      What are the current and future trends of the global thermoplastic resin industry?

2.      How the industry has been evolving in terms of resin type, compound, composite type, and end-user?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global thermoplastic resin industry?

5.   What is the customer orientation, purchase behavior, and expectations from the global thermoplastic resins suppliers across various region and countries?