Glass Felt Thermoplastic Resin Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.8 Billion by 2030, growing at a CAGR of 8.2% from 2024 to 2030.
Looking ahead from 2023 to 2033, the demand for Glass Felt Thermoplastic Resin is expected to see even more pronounced growth. Projections suggest a steady rise in consumption driven by innovations in material sciences and an expanding range of industrial applications. The shift toward sustainability and eco-friendly materials will likely continue to increase the demand for glass felt thermoplastic resins, which offer recyclability and can be produced with lower environmental impact compared to traditional alternatives. Additionally, advancements in resin technologies are expected to create new opportunities for its use in industries like renewable energy, particularly in wind turbine blades, and the growing electric vehicle (EV) market, where lightweight and durable materials are crucial for improving vehicle performance and energy efficiency.
Moreover, the increasing focus on developing energy-efficient and high-performance products in the electronics and packaging sectors is expected to support the continued rise of this market. The ability of glass felt thermoplastic resins to provide a superior balance of strength and flexibility is particularly attractive for manufacturers looking to optimize product designs and reduce overall costs. This market will also see an expansion in its geographical presence, with new opportunities arising in emerging economies, where manufacturing industries are expanding rapidly.
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The Glass Felt Thermoplastic Resin market has seen steady growth from 2018 to 2022, driven by increasing demand across multiple industries, including automotive, construction, and electronics. This surge can be attributed to the versatility of glass felt thermoplastic resins, which offer unique benefits like lightweight properties, high strength, and excellent resistance to chemicals and heat. As the need for sustainable, cost-effective materials grows, this market has attracted significant investments. Over these years, the adoption of glass felt thermoplastic resins in automotive parts, particularly in lightweight vehicle manufacturing, played a significant role in shaping the demand landscape. Industry players have also focused on improving the manufacturing processes to produce high-performance resins, meeting the stringent requirements for various applications.
SABIC
Toray
Quadrant Plastic Composites
BASF
Tokuyama Corporation
Royal DSM
Cytec Industries
Celanese Corporation
Royal Ten Cate NV
JFE Chemical Corporation
Hanwha Advanced Materials
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Glass Felt Thermoplastic Resin Market
Transport
Consumer Goods
Electronic and Electrical
Aerospace and Defense
Other
Based on Types the Market is categorized into Below types that held the largest Glass Felt Thermoplastic Resin market share In 2023.
Short Fiber Thermoplastic
Long Fiber Thermoplastic
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Glass Felt Thermoplastic Resin Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Glass Felt Thermoplastic Resin Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Glass Felt Thermoplastic Resin Market, By Type
6. Global Glass Felt Thermoplastic Resin Market, By Application
7. Global Glass Felt Thermoplastic Resin Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Glass Felt Thermoplastic Resin Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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