The global long-fiber thermoplastics market size was estimated at USD 4.06 billion in 2021 and is projected to reach USD 9.3 billion by 2030, growing at a CAGR of 9.7% from 2022 to 2030. The growth of the market is primarily driven by the rising demand for long-fiber thermoplastics in the automotive industry, where these materials are increasingly being used to replace metals and conventional plastics for improved performance and reduced vehicle weight.

Furthermore, the numerous advantages offered by long-fiber thermoplastics—such as high strength, durability, toughness, fatigue resistance, and lightweight properties—are contributing to their growing adoption across various end-use industries. These properties make LFTs ideal for applications requiring strong yet lightweight materials. In addition, increasing awareness about the superior characteristics of fiber-reinforced thermoplastic resins, including flexibility, thermal resistance, and long service life, is expected to further propel market demand over the forecast period.

Ongoing research and development activities, coupled with continuous technological advancements in the field of long-fiber thermoplastics, are expected to enhance product performance and expand application scope. The growing need for thermoplastic composites across sectors such as automotive, aerospace, electronics, and construction is further supporting market expansion. For instance, in June 2021, Zoltek Companies, Inc., a prominent carbon fiber manufacturer, expanded its carbon fiber production capacity at its Mexico facility. The upgraded plant can now produce up to 13,000 metric tons of carbon fiber annually, demonstrating the industry’s focus on scaling up production to meet the rising global demand.

Key Market Trends & Insights:

• Asia Pacific accounted for the largest revenue share of 40.2% in 2021, making it the leading regional market for long-fiber thermoplastics. The dominance of this region can be attributed to the rapid expansion of end-use industries such as automotive, aerospace, electrical & electronics, and consumer goods, particularly in countries like China, Japan, South Korea, and India. The growing manufacturing base, availability of low-cost labor, and increasing investments in advanced materials have further contributed to the region’s strong market presence.

• North America is expected to register a steady growth rate with a CAGR of 8.5% during the forecast period. This growth is driven by the rising adoption of lightweight and high-performance materials in the automotive and aerospace industries, along with increasing technological advancements in composite manufacturing. The presence of leading market players and strong R&D initiatives aimed at developing sustainable and high-strength materials are also supporting regional market growth.

• By resin type, the polypropylene segment held the largest revenue share of 58.0% in 2021. Polypropylene-based long-fiber thermoplastics are widely used owing to their excellent mechanical properties, chemical resistance, cost-effectiveness, and recyclability. These attributes make polypropylene a preferred material in the automotive, electrical, and consumer goods industries, where durability and lightweight characteristics are highly valued.

• By fiber type, the glass fiber segment dominated the market with the largest revenue share of 50.3% in 2021. Glass fiber offers several advantages such as high tensile strength, corrosion resistance, low weight, and cost efficiency, making it a popular reinforcement material in thermoplastic composites. Its extensive use in automotive components, construction materials, and industrial applications continues to drive demand within this segment.

• By manufacturing process, the injection molding segment accounted for the largest revenue share of 45.0% in 2021. Injection molding is widely preferred due to its ability to produce complex and precise components with excellent repeatability and high production efficiency. The process is extensively used in mass production of automotive parts, consumer electronics, and industrial equipment, thereby contributing significantly to the overall growth of the long-fiber thermoplastics market.

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Market Size & Forecast:

• 2021 Market Size: USD 4.06 Billion

• 2030 Projected Market Size: USD 9.3 Billion

• CAGR (2022-2030): 9.7%

• Asia Pacific: Largest market in 2021

Key Companies & Market Share Insights:

The long-fiber thermoplastics (LFT) market is characterized by intense competition, with a mix of global and regional players striving to strengthen their market positions. Leading companies in the industry are actively engaging in strategies such as partnerships, collaborations, acquisitions, mergers, and strategic agreements to maintain a competitive edge and expand their market share. These approaches allow companies to enhance their product portfolios, access new technologies, and enter emerging markets more effectively.

In addition, manufacturers of long-fiber thermoplastics are investing heavily in research and development to innovate and improve their offerings. These R&D initiatives focus on creating advanced products with enhanced mechanical, thermal, and chemical properties while incorporating sustainable practices and cutting-edge technologies. Such efforts are critical for maintaining technological leadership and meeting the evolving requirements of industries such as automotive, aerospace, and consumer goods.

For example, in January 2020, BASF SE completed the acquisition of the polyamide business from Solvay. This strategic move significantly strengthened BASF’s engineering plastics segment by adding innovative products like Technyl to its portfolio. The acquisition not only expanded BASF’s product offerings but also reinforced its position as a key player in delivering high-performance thermoplastic solutions, underscoring the importance of strategic transactions in driving growth and competitiveness in the LFT market.

Key Players

• SABIC

• RTP Company

• JNC Corporation

• Avient Corporation

• Celanese Corporation

• LANXESS

• Solvay

• Daicel Corporation

• Kingfa SCI. & TECH. CO., LTD.

• SGL Carbon

• Asahi Kasei Corporation

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Conclusion:

The long-fiber thermoplastics (LFT) market is experiencing significant growth, driven by the increasing demand for lightweight and high-performance materials across various industries. The automotive sector, in particular, is a major contributor to this demand, as manufacturers seek to enhance fuel efficiency and reduce emissions by incorporating advanced materials into vehicle production. Additionally, ongoing research and development efforts are leading to innovations in LFT technology, further expanding its applications and market potential.