The global short fibre thermoplastics market is expected to expand at a CAGR of 5.3 per cent and reach a valuation of $18.2 billion by 2031, forecasts Transparency Market Research (TMR) in its latest report on the sector.

Affected by several factors, including usage of short fibre thermoplastics in the transportation industry, the rise in the demand for short fibre thermoplastics in the consumer goods industry is propelling the overall market.

Superior physical and mechanical properties of short fibre thermoplastic are expected to drive the market in the near future. Short fibre thermoplastic composites are being increasingly utilised as engineering materials, as they offer mechanical properties superior to metal assemblies, die castings, and traditional plastic materials. They can also be processed easily through the same fabrication methods such as injection moulding. Mechanical properties of these materials depend on a complex combination of several internal variables such as type of matrix, fibre content, fibre-matrix interface, fibre orientation, fibre dimensions, and external variables, that is, environmental conditions.

The demand for short fibre thermoplastics is also rising, as they can be reshaped by melting. Short fibre thermoplastics are also melt-processable, helping to carry out repair in the field. They provide better corrosion and chemical resistance, and better strength to weight ratio as compared to that offered by metals.

The global short fibre thermoplastics market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated this market in 2020. The region is expected to maintain its dominance during the forecast period. The dominance of Asia Pacific can be attributed to its increase in usage in the electrical and electronics sector of emerging economies, including China and India, in the region.