Like most industries, business activities in the short fiber thermoplastics market are continuing in a staggered manner during the ongoing COVID-19 crisis. Poor market sentiments are affecting the growth of the short fiber thermoplastics market. Hence, manufacturers and companies are focusing on mission-critical applications of consumer goods, electronics, and transportation industries to keep revenue streams flowing.
Manufacturers are adopting contingency planning to predict outcomes of volatile demand and supply of products. They are taking data driven decisions before investing in new technologies. Manufacturers are entering the plug and play mode to keep economies running. They are collaborating for mergers & acquisitions (M&A) to add value to products for customers. As such, coronavirus vaccination programs are helping to boost product demand and revive the global economy.
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Is Plastic Waste Bigger Problem than Plastics?
Short-fiber-reinforced thermoplastic composites (SFRTCs) are widely used in various industrial sectors, right from automotive to electronic appliances, building & construction to domestic equipment. Their environmental impact could be significantly reduced through both open and closed loop recycling. However, methods such as mechanical recycling tend to decrease fiber length at each re-processing step. Nevertheless, a full recovery of both matrix and reinforcing fibers can be achieved.
A partial or complete recycling of short fiber reinforced thermoplastic composites can be operated. Recycling companies in the short fiber thermoplastics market are increasing their research efforts for full recovery of SFRTCs at the end of life by mechanical recycling consisting in grinding of the component and reprocessing.
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3D Design Software Helps to Establish New Workflows for Short Fiber Composite Components
The short fiber thermoplastics market is projected to cross the total production of 9,564,852.5 tons by the end of 2031. Transportation is slated to dominate the highest revenue share among all end uses in the market during the forecast period. Ansys - an engineering simulation and 3D design software company, has announced to join forces with CoreTech and their Modelx3D product, developed for plastic injection molding for establishing a new workflow for short fiber composite components.
Companies in the short fiber thermoplastics market are increasing their R&D capabilities to understand material behavior through multi-scale analysis with the help of 3D design software.
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