Thermoplastic Composites Market

Thermoplastic Composites Market Analysis and Forecast by Fiber Type, Resin Type, End-Use, Region, Country, 2023-2033

Thermoplastic Composites Gain Momentum Across Multiple Industries, Offering Sustainable Solutions and Driving Revenue Growth Globally

Category: Chemicals & Materials Published Date : Oct-23 ID: CVC0171 Format: PDF Pages: 300


The thermoplastic composites market is experiencing a transformative phase. These composites are gaining momentum across multiple sectors, including automotive, aerospace, and consumer goods, among others. Key companies in the thermoplastic composites market are innovating to offer sustainable and efficient solutions, thereby driving global revenue growth. The market outlook for 2023 and beyond is optimistic, with increasing demand for eco-friendly alternatives in various industries. Opportunities in the thermoplastic composites market are abundant, especially as they become integral in meeting sustainability goals and enhancing performance metrics.

Key Findings in the Thermoplastic Composites Market Forecast for 2023 to 2033

  • Market Value and Growth: The market value of thermoplastic composites was USD 18,365.4 Mn in 2022 and is projected to reach USD 19,246.9 Mn in 2023. By 2033, the market value is expected to soar to USD 30,759.2 Mn.
  • The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.8%, indicating a strong and consistent market outlook.
  • Glass fiber and carbon fiber continue to be the leading types of fibers used in thermoplastic composites, each with specialized applications.
  • Various resins are being employed in the manufacturing of thermoplastic composites, adding to the market’s complexity and opportunity.
  • Automotive and transportation is the largest end-use segment for thermoplastic composites, highlighting the material’s critical role in modern transportation solutions.
  • North America stands as the largest market segment for thermoplastic composites, leading in both demand and innovation.
  • Thermoplastic composites are increasingly being recognized as eco-friendly materials, especially in the packaging industry, thus creating new revenue channels.

What’s Driving Demand for Thermoplastic Composites?

One of the primary drivers in the thermoplastic composites market is the increasing demand for lightweight and high-performance materials, particularly in the automotive and aerospace sectors. These industries are constantly seeking materials that can offer strength without adding weight, thereby improving fuel efficiency and reducing emissions. Thermoplastic composites fit this requirement perfectly, offering a blend of durability and lightness. Key companies in the thermoplastic composites market are focusing on R&D to further enhance these properties, making these composites an ideal choice for modern engineering applications.

Sustainability is a significant growth factor in the thermoplastic composites market. As industries move towards greener solutions, the eco-friendly nature of thermoplastic composites becomes a major selling point. These materials are recyclable and produce less waste during manufacturing, aligning with global sustainability goals. The demand for eco-friendly materials is on the rise, and thermoplastic composites are well-positioned to meet this demand. This trend is especially noticeable in the packaging industry, where the material’s recyclability can be a major asset.

Technological advancements are another key driver for the growth of the thermoplastic composites market. Innovations in manufacturing processes and material science have led to the development of thermoplastic composites with enhanced properties such as higher tensile strength and improved thermal resistance. These advancements open up new applications for thermoplastic composites, from medical devices to renewable energy solutions. As technology continues to advance, the range of applications for thermoplastic composites is expected to expand, further driving demand and market growth.

Key Challenge in the Thermoplastic Composites Market

One of the key challenges facing the thermoplastic composites market is the high cost of raw materials and production. This factor can be a significant restraint, especially for smaller companies and emerging markets. Despite the promising market outlook and growing demand, the cost factor remains a hurdle that could slow down market expansion.

What Key Opportunities Can Thermoplastic Composite Manufacturers Expect

The thermoplastic composites market is ripe with opportunities, particularly in sectors that are in the early stages of adopting these materials. With the ongoing push for sustainability and high-performance materials, industries like renewable energy, medical devices, and consumer electronics present new avenues for growth. As key companies in the thermoplastic composites market continue to innovate, the range of applications is expected to broaden, further driving demand and opening up new revenue channels.

Segment-wise Analysis

By Fiber Type

Fiber types such as glass fiber and carbon fiber are crucial segments in the thermoplastic composites market. These fibers offer unique properties like high tensile strength and lightweight characteristics, making them ideal for various applications including automotive and aerospace sectors.

By Resin Type

Resin types like polypropylene and polyethylene are another key segment in this market. These resins are used to create composites that are highly durable and resistant to environmental factors, making them suitable for outdoor and industrial applications.

By End-Use Industries

End-use industries like automotive, aerospace, and packaging are significant segments driving the demand for thermoplastic composites. These industries require materials that are both high-performing and sustainable, making thermoplastic composites an increasingly popular choice.

Region-wise Analysis

North America: A Leading Force in the Thermoplastic Composites Market

North America continues to dominate the thermoplastic composites market, driven by advanced manufacturing technologies and a strong focus on research and development. The region is home to key companies in the thermoplastic composites market, contributing to its significant market share. The aerospace and automotive sectors are particularly strong, with companies like Daher-Socata and Premium AEROTEC GmbH leading the way in innovative applications of thermoplastic composites. Source

Europe: Demand for Thermoplastic Composites in Key Growth Sectors

Europe follows closely behind North America in the thermoplastic composites market. The region is seeing a surge in demand for these materials, especially in the automotive and aerospace industries. European companies are also investing heavily in sustainable solutions, making thermoplastic composites a go-to material for eco-friendly initiatives. The market outlook for Europe remains optimistic, with several key players contributing to market growth.

Asia Pacific Excluding Japan: Emerging Opportunities in the Thermoplastic Composites Market

The Asia Pacific region, excluding Japan, is an emerging market for thermoplastic composites. With rapid industrialization and a growing focus on sustainable materials, the demand for thermoplastic composites is on the rise. The automotive and consumer goods sectors are particularly strong, driving the market trends in this region. The market forecast for Asia Pacific is promising, with increasing investments in R&D and new manufacturing facilities.

Japan: Technological Advancements Drive the Thermoplastic Composites Market

Japan is a hub for technological innovation, and this extends to the thermoplastic composites market as well. The country is home to advanced manufacturing techniques and high-quality standards, making it a key player in the global market. The demand for thermoplastic composites in Japan is primarily driven by the automotive and electronics sectors, both of which are significant contributors to the country’s economy.

Latin America: A Growing Market for Thermoplastic Composites

Latin America is an emerging market with growing demand for thermoplastic composites, particularly in the automotive and consumer goods sectors. As industries in this region aim for modernization and sustainability, thermoplastic composites are becoming increasingly popular. The market outlook for Latin America is positive, with new investments and initiatives aimed at boosting the use of these materials.

Middle East and Africa: Niche Applications in the Thermoplastic Composites Market

The Middle East and Africa present niche opportunities for the thermoplastic composites market. While the market is still in its infancy compared to other regions, there is a growing interest in high-performance materials for applications in sectors like oil and gas. The market trends in this region are driven by the need for durable and lightweight materials, making thermoplastic composites a viable option.

Key Players Steering the Thermoplastic Composites Market Forecast

The leading companies in the thermoplastic composite market include Hanwha, Quadrant, Advanced Drainage Systems, TechnipFMC, National Oilwell Varco, Airborne Oil and Gas, Magma Global, Baker Hughes Company, Chevron Philips Chemical Company, Prysmian, Georg Fischer, Shawcor, and Uponor Corporation.

Hanwha: This company has been focusing on expanding its product portfolio and recently launched new types of thermoplastic composites that are gaining traction in the automotive sector. Source

TechnipFMC: Known for its innovative solutions, TechnipFMC has been investing in R&D to develop thermoplastic composites that can withstand high pressures, making them ideal for oil and gas applications.

Magma Global: This company has been pioneering in the development of thermoplastic composites that are resistant to H2S, CO2, and seawater, making them highly suitable for marine applications.


This article provides an in-depth analysis of the thermoplastic composites market, focusing on its forecast from 2023 to 2033. It delves into key growth drivers such as lightweight material demand, sustainability, and technological advancements. The article also highlights challenges like high production costs and outlines opportunities in emerging sectors. It offers a regional breakdown, emphasizing North America’s dominance and growth prospects in other regions. Key players like Hanwha, TechnipFMC, and Magma Global are discussed, along with their recent developments. The article serves as a comprehensive guide for understanding market trends, challenges, and opportunities.

Discover the world of chemistry with ChemView Consulting! Your go-to source for expert insights and solutions in the realm of chemical sciences. Explore cutting-edge research, industry trends, and practical applications through our consultancy services. Follow us on social media for the latest updates and engaging content: Facebook and Linkedin

1.1 Global Market Outlook

1.2 Technology Roadmap

1.3 Supply and Demand Side Trends

1.4 Strategic Success Factors

1.5 Analysis and Recommendations


2.1 Market Taxonomy

2.2 Market Definitions

2.3 Inclusions & Limitations


3.1 Supply Side Overview

3.2 Demand Side Overview

3.3 Economic Side Trends


4.1 Macroeconomic Factors

4.2 Forecast Factors

4.3 Porter’s Five Forces

4.4 Value Chain Analysis

4.4.1 List of Raw Material Suppliers

4.4.2 List of Manufacturers

4.4.3 List of Traders and Suppliers

4.4.5 Average Margin Analysis

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.5.3 Opportunities

4.6 Patent Analysis

4.7 Trade Analysis

4.8 Regulatory Overview

4.9 Covid-19 Impact Assessment

4.9.1 Economy/Cluster Projections

4.9.2 Covid-19 Economic Assessment

4.9.3 Potential Impact on Target Market

4.9.4 Recovery Scenario


5.1 Historical Value ($ Mn) and Future Market Value ($ Mn) Forecast Analysis

5.2 Demand Y-o-Y Growth Rate Analysis

5.3 Total $ Opportunity Analysis

5.4 Historical Volume (Tons) and Future Market Volume (Tons) Forecast Analysis


6.1 Regional Pricing Analysis By Type

6.2 Regional Price Forecast Future

6.3 Price Impact Factors

6.4 Company-wise Profit Margin Analysis


7.1 Introduction

7.2 Market Trends / Key Findings

7.3 Historical Market Analysis and Market Forecast Analysis

7.3.1 PA

7.3.2 PP

7.3.3 PEEK

7.3.4 Hybrid

7.3.5 Others

7.4 Y-o-Y Growth Trend Analysis by Resin Type, 2023-2033

7.5 Total $ Opportunity Analysis by Resin Type, 2023-2033

7.6 Market Attractiveness Analysis


8.1 Introduction

8.2 Market Trends / Key Findings

8.3 Historical Market Analysis and Market Forecast Analysis

8.3.1 SFT

8.3.2 LFT

8.3.3 CFT

8.3.4 GMT

8.4 Y-o-Y Growth Trend Analysis by Product Type, 2023-2033

8.5 Total $ Opportunity Analysis by Product Type, 2023-2033

8.6 Market Attractiveness Analysis


9.1 Introduction

9.2 Market Trends / Key Findings

9.3 Historical Market Analysis and Market Forecast Analysis

9.3.1 Glass

9.3.2 Carbon

9.3.3 Mineral

9.3.4 Others

9.4 Y-o-Y Growth Trend Analysis by Fiber Type, 2023-2033

9.5 Total $ Opportunity Analysis by Fiber Type, 2023-2033

9.6 Market Attractiveness Analysis


10.1 Introduction

10.2 Market Trends / Key Findings

10.3 Historical Market Analysis and Market Forecast Analysis

10.3.1 Transportation

10.3.2 Aerospace & Defence

10.3.3 Construction

10.3.4 Wind Energy

10.3.5 Consumer & Electronic Goods

10.3.6 Others

10.4 Y-o-Y Growth Trend Analysis by End Use Industry, 2023-2033

10.5 Total $ Opportunity Analysis by End Use Industry, 2023-2033

10.6 Market Attractiveness Analysis

11.1 Introduction

11.2 Market Trends / Key Findings

11.3 Historical Market Analysis and Market Forecast Analysis

11.3.1 North America

11.3.2 Latin America

11.3.3 Europe

11.3.4 East Asia

11.3.5 South Asia & Pacific

11.3.6 Middle East & Africa (MEA)

11.4 Y-o-Y Growth Trend Analysis by Region, 2023-2033

11.5 Total $ Opportunity Analysis by Region, 2023-2033

11.6 Market Attractiveness Analysis


12.1 Introduction

12.2 Market Trends/Key Findings

12.3 North America Pricing Analysis

12.4 Historical Market Analysis and Market Forecast Analysis

12.4.1 By Country U.S. Canada

12.4.2 By Resin Type

12.4.3 By Product Type

12.4.4 By End Use Industry

12.4.5 By Fiber Type

12.5 Market Attractiveness Analysis

12.5.1 By Country

12.5.2 By Resin Type

12.5.3 By Product Type

12.5.4 By End Use Industry

12.5.5 By Fiber Type

12.6 Market Participants Presence Mapping


13.1 Introduction

13.2 Market Trends/Key Findings

13.3 Latin America Pricing Analysis

13.4 Historical Market Analysis and Market Forecast Analysis

13.4.1 By Country Brazil Mexico Rest of Latin America

13.4.2 By Resin Type

13.4.3 By Product Type

13.4.4 By End Use Industry

13.4.5 By Fiber Type

13.5 Market Attractiveness Analysis

13.5.1 By Country

13.5.2 By Resin Type

13.5.3 By Product Type

13.5.4 By End Use Industry

13.5.5 By Fiber Type

13.6 Market Participants Presence Mapping


14.1 Introduction

14.2 Market Trends/Key Findings

14.3 Europe Pricing Analysis

14.4 Historical Market Analysis and Market Forecast Analysis

14.4.1 By Country Germany U.K. France Italy Spain Poland Russia Rest of Europe

14.4.2 By Resin Type

14.4.3 By Product Type

14.4.4 By End Use Industry

14.5.5 By Fiber Type

14.5 Market Attractiveness Analysis

14.5.1 By Country

14.5.2 By Resin Type

14.5.3 By Product Type

14.5.4 By End Use Industry

14.5.5 By Fiber Type

14.6 Market Participants Presence Mapping


15.1 Introduction

15.2 Market Trends/Key Findings

15.3 East Asia Pricing Analysis

15.4 Historical Market Analysis and Market Forecast Analysis

15.4.1 By Country China Japan South Korea

15.4.2 By Resin Type

15.4.3 By Product Type

15.4.4 By End Use Industry

15.4.5 By Fiber Type

15.5 Market Attractiveness Analysis

15.5.1 By Country

15.5.2 By Resin Type

15.5.3 By Product Type

15.5.4 By End Use Industry

15.5.5 By Fiber Type

15.6 Market Participants Presence Mapping


16.1 Introduction

16.2 Market Trends/Key Findings

16.3 South Asia & Pacific Pricing Analysis

16.4 Historical Market Analysis and Market Forecast Analysis

16.4.1By Country India ASEAN ANZ

16.4.2 By Resin Type

16.4.3 By Product Type

16.4.4 By End Use Industry

16.4.5 By Fiber Type

16.5 Market Attractiveness Analysis

16.5.1 By Country

16.5.2 By Resin Type

16.5.3 By Product Type

16.5.4 By End Use Industry

16.5.5 By Fiber Type

16.6 Market Participants Presence Mapping


17.1 Introduction

17.2 Market Trends/Key Findings

17.3 Middle East & Africa Pricing Analysis

17.4 Historical Market Analysis and Market Forecast Analysis

17.4.1 By Country GCC Countries Turkey South Africa Israel Rest of MEA

17.4.2 By Resin Type

17.4.3 By Product Type

17.4.4 By End Use Industry

17.4.5 By Fiber Type

17.5 Market Attractiveness Analysis

17.5.1 By Country

17.5.2 By Resin Type

17.5.3 By Product Type

17.5.4 By End Use Industry

17.5.5 By Fiber Type

17.6 Market Participants Presence Mapping


18.1Market Concentration Analysis

18.2Market Share Analysis

18.3 Start-up Ecosystem

18.3.1 New Player Entry

18.3.2 Strategies Adopted by New Players Company Footprint Analysis Competitive Dashboard




19.3 TORAY Industries, Inc.

19.4 SBAIC

19.5 Polyone Corporation

19.6 Lanxess A.G.

19.7 Mitusbishi Chemical Advanced Material

19.8 BASF SE

19.9 Hexcel Corporation


19.11 Celenase Corporation

19.12 Hanwha

19.13 Quadrant

19.14 TechnipFMC

19.15 Chevron Philips Chemical Company

19.16 TechnipFMC

19.17 Uponor Corporation

19.18 Georg Fischer

19.19 Oilwell Varco

19.21 Magma Global

19.22 Prysmian

19.23 Airborne Oil and Gas

19.24 Others