Long Fiber Thermoplastics (LFT) Market Size, Impacted by COVID-19, to Reach US$ 1.35 Billion in 2026, Says Stratview Research

Long Fiber Thermoplastics (LFT) Market: Highlights Long Fiber Thermoplastics (LFT) Market : Highlights Long fiber thermoplastic (LFT) is the category of composite materials based on thermoplastic resin system and reinforced with long discontinuous fibers. They are typically used to make parts through injection or compression molding process. In 2020, the wrath of pandemic hit hard on all the major industries including automotive, consumer goods, sporting goods, and industrial equipment...

Long Fiber Thermoplastics (LFT) Market: Highlights

Long fiber thermoplastic (LFT) is the category of composite materials based on thermoplastic resin system and reinforced with long discontinuous fibers. They are typically used to make parts through injection or compression molding process.

In 2020, the wrath of pandemic hit hard on all the major industries including automotive, consumer goods, sporting goods, and industrial equipment. The LFT market could not escape from such distressing scenario and logged a massive decline of -12% in 2020 amid the pandemic. However, the industry stakeholders are expecting a quick recovery in some regional markets. The recovery from the disruption brought by the COVID-19 pandemic is expected to start from 2021. It is anticipated that the market will cross its 2019-sales figure in 2022, marking a consistent growth during the forecast period. Overall, the LFT market is likely to rebound at a promising CAGR of 4.4% in the next five years to reach US$ 1,353 Million in 2026.

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Based on the end-use industry, automotive is expected to remain the largest and the fastest-growing segment in the market during the forecast period, owing to the increasing focus of automobile manufacturers towards fuel efficiency which can be attained through higher penetration of lightweight materials such as composites. The automotive industry is the biggest user of compounds including SFT, LFT, SMC, and other-reinforced compounds.

Based on the resin type, the market is segmented as polypropylene, polyamide, polybutylene terephthalate, PEEK/PEKK, and others. PP-LFTs held dominance in 2020 and is expected to maintain their position over the next five years as well. PP resin is comparatively cheap than other resin systems; thus, molders and OEMs in coordination with material suppliers are trying to enhance the performance of PP-LFTs to replace other resin system-based LFTs.

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In terms of regions, Europe is expected to remain the largest market for LFTs during the forecast period. Europe is the home for leading automotive OEMs, tier players, and LFT manufacturers. Germany and Belgium are the manufacturing capital of LFTs in the region. However, Asia-Pacific is expected to witness the highest growth during the forecast period driven by China, Japan, and India. 

The market for long fiber thermoplastics is highly consolidated with the top five companies capturing more than 60% of the market. Following are the major players in the global LFT market:

Backward integration to resin production and close collaboration in different nodes of the value chain of the industry for new application developments are the key features for major LFT compounders.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

This report studies global LFT market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:

LFT Market, by End-Use Industry

LFT Market, by Material Form Type

LFT Market, by Reinforcement Type

LFT Market, by Resin Type

LFT Market, by Region

Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/composites.html 

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