China long fiber thermoplastics market to garner commendable revenue by 2025, escalating demand from the automotive sector to augment the regional industry
The rising focus on the adoption of lightweight material in the automotive & aerospace sectors has accelerated the long fiber thermoplastics market growth in recent years, given the need to attain high fuel efficiency. Long fiber thermoplastics (LFT) help in sustainable development of automotive structures and robust, lightweight aircraft components as well. Indeed, by adopting LFT, automakers and aircraft manufacturers have been able to lower manufacturing cost, reduce installation time, and deliver lightweight components that provide high level of productivity and recycling potential, supplementing LFT market growth.
U.S. Long Glass Fiber Thermoplastics Market Size, By Application, 2018 & 2025, (Kilo Tons)
The automotive industry will majorly drive the long fiber thermoplastic market growth over the years to come. The material’s high performance in terms of mechanical properties, low cost, processing advantages and low density has led to its application in the automotive industry for making front end modules, bumper beams, instrumental panel career, doors and underbody shields. The product has an edge over conventional materials like aluminum due to its high specific strength, simple manufacturing process, recyclability, good damping capacity, and corrosion resistance has encouraged manufacturers to implement it in their vehicle segments. Moreover, rising customer demand for fuel-efficient vehicles has also propelled the long fiber thermoplastic industry trends.
With increasing emission levels in urban areas along with increased cases of obesity, people are constantly shifting towards cycling to commute in the city, which may in turn increase long fiber thermoplastics market demand. LFT has found application in manufacturing bicycles as it offers frothy properties which ensure better durability, handling and rideability to users. Moreover, as car traffic and commute times at an all-time high, more people are considering cycling as a more efficient and sustainable means for transport. Bike-sharing companies like Lime Bike, Mobike and Jump have recently gained demand from city commuters, generating huge opportunities in the bike manufacturing sector, further augmenting LFT market growth.
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Long fiber thermoplastics market outlook from the expanding aerospace sector
LFT is rapidly being deployed in the aerospace, aviation and missile/defense applications. The material offers lightweight advantages, design flexibility, high specific modulus and strength, ease of installing, and recyclability. Aerospace components featuring LFT mainly comprise of complex-shaped baseplates for electronic housings, stowage doors, structural load-bearing member and more. These products are utilized for making aeronautic equipments that reduce the weight and bulkiness of an aircraft, eventually making air travel more fuel-efficient and safe.
Given the expansive usage of the material in the aerospace & automotive sectors, it is prudent to mention that the Asia Pacific long fiber thermoplastics market, led by South Korea, India, China, and Japan, will accumulate commendable returns in the years to come. China specifically, is predicted to emerge as one of the most lucrative avenues of the regional industry. Since LFT finds long-term applications in the automotive interior manufacturing sector and in the construction of waste treatment plants as well, given its chemical and thermal resistance, China will come up to be one of the most profitable regional grounds for the long fiber thermoplastic industry. As per estimates, China long fiber thermoplastics industry size is likely to record a CAGR of 10.5% over 2019-2025.
Another regional ground that is primed to be rather lucrative for the long fiber thermoplastics market is Europe, led by the countries of France, Italy, Germany and the U.K. The region’s automobile industry has evolved rapidly as it comprises renowned auto giant’s like Volkswagen, Mercedes-Benz, Audi and more that offer sales worldwide. The LFT market will also witness significant gains as carbon reinforced thermoplastics are used in the manufacturing of vehicles to reduce kerb weight which makes vehicles more fuel efficient.
These thermal & heat resistant components which are largely used in automotive, aerospace and electrical & electronic industries, are lately being amalgamated with carbon and glass fibers to form structures which increase the robustness of a product. This would indeed, give rise to a spate of new growth avenues in the years to come. According to Global Market Insights, Inc., the long fiber thermoplastics market size will surpass $3 billion by 2025.
Author Name : Mateen Dalal
Top four trends driving Injection Molded Plastic Market over 2016-2023: U.S. to remain a prominent revenue contributor
Forming an essential fragment of the global plastics sector, Injection Molded Plastic Market has established itself as one of the most dynamically evolving businesses of recent times. The injection molding process is one of the most commonly-used plastic formation technique across myriad industrial sectors, subject to the absolute ease and convenience provided by this methodology. With a widespread spectrum of applications across the automotive, packaging, construction, and consumables & electronics sectors, injection molded plastic industry has indeed embarked on a highly profitable growth path since its inception. Statistics bear testimony to the aforementioned fact – global injection molded plastic market size stood at 100 million tons, and has been forecast to record a CAGR of 5% over the forthcoming years.
The process of injection molding has penetrated most of the plastics manufacturing sectors, and is used to develop a range of plastic products, right from wheelie bins and car bumpers to micro parts for packaging. Manufactured from materials such as ABS (acrylonitrile-butadiene-styrene), nylon PA, polycarbonate, HDPE, and polypropylene, injection molded plastic products are liberally used across a plethora of manufacturing sectors. It is therefore, evident that the changing trends of the manufacturing sector will have a profound effect on the growth path of injection molded plastic industry.
MEA Injection molded plastics market size, by application, 2012 – 2023 (USD Million)
The automotive sector will stand as one of strongest growth drivers of injection molded plastic market. As per estimates, automotive & transportation applications are slated to witness gains of more than 5.7% over 2016-2023. The Corporate Average Fuel Economy (CAFE) has implemented regulations to produce low-fuel consumption cars, which will spur the business expansion. The production of lightweight automobiles will also boost injection molded plastics industry – estimates claim that even a mere 10% reduction in car weight will lead to saving around 5% to 7% of fuel.
In the recent years, injection molded plastic market has been influenced by a plethora of trends. It is noteworthy to mention that some of these trends mentioned below will not have a prominent impact on solely injection molded plastic industry, but on the entire plastic manufacturing sector.
The impact of automation on injection molded plastic market
The onset of automation has created a path-breaking influence on practically all the industries worldwide. Robotics has long since been a disrupting trend in the manufacturing sector, and if surveys are to be believed, its impact across injection molded plastic industry is slated to be immense. Heavily deployed in myriad manufacturing processes, automated tools and robots have transformed the dynamics of manufacturing sector. Automated robots are quick, accurate, agile, and adaptable, which ultimately translates into efficient production.
Injection molded plastic market giants such as BASF, SABIC, Eastman, Dow, ExxonMobil, INEOS, and Huntsman have been deploying these robots to streamline the process of injection molding and develop highly efficient plastic products within a lesser amount of time. Robots apparently provide more leeway and lend flexibility to the manufacturing process, thereby leading to the expansion of injection molded plastic industry. In fact, highly sophisticated robots can also be used to manufacture customized products, especially across the automotive sector.
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The impact of renewability on injection molded plastic market
In accordance with the latest trends of eco-friendliness and sustainability, injection molded plastic industry players have been striving to develop bio-based, recyclable products. Creating bio-based plastics that are reclaimable and recyclable is likely to pose a major challenge for manufacturers, nonetheless, the trend has penetrated most sectors, which has made it inevitable for injection molded plastic market players to generate plastics without the usage of fossil fuels. Many companies have already implemented a prototype of such products, from soybeans, corn, flax, etc., which seem to be garnering acclaim. In response, many other entrants in the industry are also striving to achieve a balance between conventional plastic production and alternative, bio-based plastic production, which will eventually stimulate injection molded plastic industry size.
The impact of on-shoring on injection molded plastic market
On-shoring has begun to gain renewed traction lately, despite the mixed reviews regarding its execution. The trend of shifting the manufacturing facilities back to the home ground will prove to be beneficial for most sectors, injection molded plastic industry being no exception. Some of the statistics supporting the resurgence of on-shoring across the U.S. are outlined below:
- As per a 2014 survey, manufacturers predicted that the United States will be responsible for more than 455 of their production by 2019.
- The year 2014 also depicted that 20% of the top executives working companies that are a part of the billion-dollar fraternity intended to come back to the U.S. from China.
- More than 22% of other such executives have declared that they would do the same in a few years.
- A humongous figure exceeding 50% have declared interest in on-shoring.
The impact of technology on injection molded plastic market
Connected technologies will have a profound impact on injection molded plastic industry in the coming years, as depicted by surveys. Over the last few years, manufacturers have realized that customer needs need to fulfilled immediately, so that production issues can be resolved sooner and managers are able to troubleshoot issues the moment they arise. On these grounds, the advent of IoT has helped streamline the manufacturing process across major sectors, including injection molded plastic market. Technology will also help factories utilize sensors, digitization, and networked devices, that will help in effective cost-control and enhanced productivity.
The contribution of the United States toward the overall injection molded plastic industry
The plastics sector is the third-largest manufacturing business in the U.S., which is a strong factor impelling the growth of injection molded plastic market. Some of the vital facts that make the U.S. one of the most lucrative revenue pockets of injection molding industry are as follows:
- The U.S. plastics sector accounts for the employment of almost 900,000 employees in the region, which will be a key factor impelling the regional injection molded plastic market. In fact, the country houses around 16,000 plastic manufacturing facilities.
- North America injection molded plastic industry, dominated by the U.S., is slated to depict a CAGR of 4.8% over 2016-2023 demand, supported by the expansion of the F&B packaging and construction sectors.
- In 2012, plastic shipments accounted for more than USD 370 billion in sales. The same year had actually recorded a valuation of more than USD 12 billion.
Experts have rightly stated that injection molding can be qualified as one of the greatest technologies ever conceptualized, that has transformed the outlook of the global plastic sector. The advent of 3D printing has cast a momentary gloom on the growth spectrum of injection molded plastic market, especially since the former is reputed for the production of finished prototypes, however, industry players have been concentrating on bringing forth newer techniques to develop a range of plastic models that may be more flexible and affordable. Keeping abreast of the latest trends, companies operating in injection molded plastic industry have also begun to concentrate on the development of bio-based plastics. Also, they ultimately intend to reduce the dependency factor on crude oil subject to strict environmental legislations enforced by regulatory bodies, which may lead to the generation of lucrative investment opportunities, thereby creating a favorable growth path for injection molded plastic market.
Author Name : Saipriya Iyer
Geotextile Market to register a massive valuation via high demand from the civil engineering sector, woven geotextiles to observe the highest gains over 2017-2024
The well-established Geotextile Market continues to grow steadily due to the surging construction and agricultural sectors worldwide. The cost benefits of using geotextiles over conventional construction raw materials such as stone and sand have become increasingly attractive over the years, which has significantly prompted geotextile industry growth. Basically, geotextiles are geosynthetic materials that have become quite popular in many applications that require stabilization, control, and support. Global Market Insights, Inc., anticipates that geotextile market will continue to expand over the coming years with the ever-growing civil engineering sector. By 2024, the industry is likely to witness the overall consumption of geotextiles crossing 10 billion square meters with a revenue projection of over USD 12 billion.
U.S. Geotextile Market Size, By Application, 2016 & 2024, (USD Million)
It is important to note that geotextiles are not made up from materials used for manufacturing fabrics such as silk, wool and cotton. Basically, these textiles are synthetic fibers that can be made into porous, flexible, nonwoven fabric. Thus, the prospering geotextile market owes its success to its wide scope of applications such as agriculture, erosion control, pavement repair, road construction, drainage, and railroads. The erosion control application, in particular, has witnessed significant gains as geotextiles help in preventing erosion caused by floods, rainfall, and water encroachment. Geotextiles strengthen dredged soils and help in holding it firmly under the vegetative growth, slopes, and coastal erosion. In consequence, geotextile market from erosion control application will garner substantial profits and will record a CAGR of 10.5% over the period of 2017-2024. Speaking along the same lines, India has been forecast to be one of most profitable business grounds for geotextile market as regards to erosion control applications. In fact, it has been projected that India geotextile industry from erosion control will grow at an annual rate of 12.5% over 2017-2024.
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Geotextile market in the emerging economies of Asia Pacific will experience profitable growth, with a slew of construction projects. China is set to record a massive demand for geotextiles, as the country countersigns heavy infrastructure investment, mainly in transportation and water management. The utilization of geotextiles in road construction applications is also advancing at rapid pace and is projected to raise USD 4.5 billion by 2024. Meanwhile, Europe is another prominent region where geotextile market demand is quite high and is expected to grow at a CAGR of 9% over 2017-2024. Rising construction projects to develop ports, roads, airports, housing, and railways particularly in UK, France, Italy, and Germany signify high product demand in the region. The regional companies are focusing on strategic partnerships to increase their capacity and expand their global reach. For instance, the collaboration between Fibertex Nonwovens and France’s Tharreau Industries in 2012 has helped the former expand its core business in the region to become one of the many prominent European market leaders.
Geotextile market encompasses two very versatile products, namely woven and nonwoven geotextiles. Between the two, woven geotextile industry is poised to witness highest gains, owing to its extensive demand in road stabilizing and erosion control applications. These types of geotextiles are mainly constructed from blending and weaving fibers, which gives them excellent tensile strength and hydro filtration properties. The global woven geotextile market is anticipated to witness gains over 11% through 2017-2024. Nonwoven geotextiles on other hand, are one of the most popular options for drainage, road construction, separation, and filtration. They offer exceptional UV finish properties, weather proofing, and chemical resistance, and thus find common usage in ditches and underground drains. This has led to a positive impact on the sales of nonwoven geotextile market, which is set to exceed USD 8.5 billion by 2024 in terms of revenue.
Lately, jute based products are gaining remarkable traction as an alternative to synthetic materials. These natural geotextiles are now increasingly used in erosion control applications such as culvert and table drain outlets, river banks & canals, sports field restoration, etc.
Prominent geotextile industry participants catering to the regional and the local demand include Mattex Geosynthetics, TENAX, Fibertex Nonwovens, Royal Ten Cate N.V., TYPAR, and HUESKER Inc.
Author Name : Ojaswita Kutepatil