According to a new research report by Global Market Insights, the market for long fiber thermoplastics (LFTs) could surpass US$3 billion by 2025.
The report suggest that this growth is due to growing consumer preferences for lightweight products. LFTs have high strength to weight ratio, recyclability and bio-degradability, making them suitable for usage in automotive, aerospace, sports and furniture applications.
Global Market Insights says that the long fiber thermoplastics industry in China may see growth of 10.5% over the same period. The global market for furniture applications is anticipated to exceed US$70 million by 2025, while sports and leisure LFTs are estimated to exceed 30 kilo tons by 2025.
This story uses material from GMI, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
