Long Fiber Thermoplastic Composites (LFT) are composite materials made of a thermoplastic polymer matrix and long fibers, typically made of glass, carbon, or natural fibers. The long fibers in LFT composites are aligned in a specific direction to optimize the mechanical performance of the material. The fibers are typically mixed with the polymer matrix in a twin-screw extruder, which melts the polymer and distributes the fibers uniformly throughout the matrix.
Based on types, the market is segmented into Polyamide, Polypropylene, Polybutylene Terephthalate, and Others. The Polypropylene segment accounted for more than 50% of the market share and is expected to dominate during the forecast period as well. Polypropylene-based Fiber Thermoplastic Composites (LFT) composites are widely used in the automotive, textile, packaging, and construction industries. They are cost-effective compared to Polyamide and Polybutylene Terephthalate. Hence, their demand is increasing in the automotive and construction industry.
On the basis of applications, the Long Fiber Thermoplastic Composites (LFT) composites market is bifurcated into Transportation, Consumer Products, Electrical & Electronics, and Others. The transportation segment holds the largest share owing to the rising demand for producing lightweight vehicles which will help in reducing the CO2 emission driving the LFT composites demand in the transportation industry.
Asia Pacific dominates the Long Fiber Thermoplastic Composites (LFT) composites market where China is the largest manufacturer and consumer of LFT composites in the region, followed by India and Japan. China is the world’s largest electronics industry where electronics products, such as smartphones, LED TVs, cables, wires, and earphones, have the highest growth. In China, the increasing disposable income of the middle-class population and the increasing demand from the electronics and automotive industries will boost the LFT composites market in the upcoming years.
The automotive segment accounted for the largest market share of more than 30% on the back of increasing demand for Long Fiber Thermoplastic Composites (LFT) composites in the automotive industry.
Long Fiber Thermoplastic Composites (LFT) composites offer properties such as stiffness, high strength, lightweight, toughness, and stability. LFT composites are used in various parts of automobiles such as bumper moldings, door elements, instrument panel carriers, seat pans, bumper beams, and front-end modules, among others. They are often chosen as metal replacements, for ineffective polymers, and as replacements to higher cost thermoplastics LFT composites offer several advantages over traditional materials, including:
Long Fiber Thermoplastic Composites (LFT) composites offer high strength and stiffness, making them ideal for applications that require excellent mechanical performance. They are lightweight, which can reduce the weight of the final product to improve fuel efficiency, and can be easily molded into complex shapes to meet specific design requirements.
The rising demand and production of EVs will also boost the LFT composites market growth. Due to the rising regulations, automotive manufacturers are aiming to reduce the weight of vehicles, as it helps save a visible amount of carbon dioxide emissions. 1 gram of carbon dioxide emissions is reduced by decreasing the weight of the vehicle by 10 kg.
LFT composites are made of thermoplastic resins, which are comparatively expensive compared to other resins. The manufacturing costs for refining and producing LFT composites are very high which may hamper the market growth in the upcoming years.
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