According to a new market report published by Lucintel, the future of thermoplastic composites in the Asian consumer goods market looks promising with opportunities in circuit breakers, power tools, appliances, and furniture applications. Thermoplastic composites in the Asian consumer goods market are expected to reach an estimated $1.5 billion by 2022 and grow at a CAGR of 4.3% from 2017 to 2022. The major drivers for the growth of this market are growing demand for consumer goods in the region and performance benefits of reinforced thermoplastics over traditional materials; these benefits include weight savings, recyclability, and resistance to moisture and chemicals.
In this market, appliances, furniture, circuit breakers, and power tools are the major end use applications. On the basis of comprehensive research, Lucintel forecasts that the power tools, appliances and circuit breaker applications will show above average growth during the forecast period.
By material type, short fiber reinforced thermoplastic (SFT) composites are expected to remain the largest market for thermoplastic composites in the Asian consumer goods market in value shipment because they offer versatility in processing.
By resin type, polyamide (PA) based thermoplastic composites and polypropylene (PP) based thermoplastic composites in the Asian consumer goods market are expected to remain the most widely-used thermoplastic composites by value and volume respectively. Polyamide (PA) exhibits excellent mechanical properties, such as stiffness and toughness to avoid problems associated with heat distortion, temperature creep, and fatigue resistance. On the other hand, Polypropylene (PP) is inexpensive and has good electrical insulator, which is augmenting its demand, particularly for high volume production. These beneficial properties are likely to drive the consumption of polyamide and polypropylene based thermoplastic composites in the Asian consumer goods market over the forecast period by value and volume respectively.
Emerging trends, which have a direct impact on the dynamics of the industry, include continuous innovation and development of new products and applications and establishment of manufacturing facilities in high growth markets. SABIC, DSM, BASF SE, DuPont, and Solvay are among the major suppliers of thermoplastic composites in the Asian consumer goods market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for thermoplastic composites in the Asian consumer goods market by application, resin type, and material type. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities for Thermoplastic Composites in the Asian Consumer Goods Market 2017-2022.” The Lucintel report serves as a catalyst for growth strategies by providing comprehensive data and an analysis on trends, key drivers, and directions. The study includes the forecast for growth opportunities for thermoplastic composites in the Asian consumer goods market by application, resin type, and material type, as follows:
By application [Volume (M lbs) and Value ($ Million) from 2011 to 2022]:
• Circuit Breakers
• Power Tools
By resin type [volume (M lbs) and Value ($ Million) from 2011 to 2022]:
• Polyamide (PA)
• Polypropylene (PP)
• Polybutylene terephthalate (PBT)
By material type [volume (M lbs) and Value ($ Million) from 2011 to 2022]:
• Short Fiber Thermoplastics (SFT)
• Long Fiber Thermoplastics (LFT)
This 140-page research report will enable you to make confident business decisions in this Asian competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.
This report answers the following 10 key questions:
Q.1. What are some of the most promising, high-growth opportunities for thermoplastic composites in the Asian consumer goods market by application (circuit breakers, power tools, appliances, furniture, and others), resin type (Polyamide (PA), Polypropylene (PP), Polybutylene terephthalate (PBT), and others), material type (Short Fiber Thermoplastics (SFT), Long Fiber Thermoplastics (LFT), and others)?
Q.2. Which application segments will grow at a faster pace at what rate and why?
Q.3. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.4. What are the business risks and competitive threats in this market?
Q.5. What are emerging trends in this market and the reasons behind them?
Q.6. What are some of the changing demands of customers in the market?
Q.7. What are the new developments in the market and which companies are leading these developments?
Q.8. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.9. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.10. What M&A activities have occurred in the last 5 years in this market?