BANGALORE, India, May 3, 2021 /PRNewswire/ — The global Thermoplastic Composites Market by Fiber Type (Carbon, Glass, Mineral, and Others), Resin Type (PA, PP, PEEK, Hybrid, Others), Product Type (Glass Mat Thermoplastics (GMT), advanced thermoplastic composites (ATC)), and Applications (Oil & Gas, Aerospace, Marine, Construction, Military, and Others). This report covers Global Opportunity Analysis and Industry Forecast from 2021 to 2026. This report is published on Valuates Reports in the Plastics & Polymers Category.
The global Thermoplastic Composites Market was valued at USD 15.2 Billion in 2019 and is projected to reach USD 22.8 Billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
Major factors driving the growth of the thermoplastic composite market are:
- Increased adoption of thermoplastics composites in the automotive, construction, and aerospace industries due to processing and maintenance cost saving, code and compliance for medical applications and being environmentally friendly during manufacturing
- Furthermore, properties such as recyclability, fast processing, durability , chemical resistance, and the ability to mold and remold, withstand high temperatures, and reduce the overall weight of the product is driving the thermoplastic composite market
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TRENDS INFLUENCING THE GROWTH OF THERMOPLASTICS MARKET SIZE
The rise in the use…