Global Medical Fiber Thermoplastics Market Overview:
Fibre thermoplastic composites are exceptionally strong and have a high basic modulus. They also have excellent impact resistance, are simple to handle, are recyclable, and have excellent corrosion resistance. High levels of stiffness, strength, and durability are combined in a single material. Fibre composites are frequently used to replace metal, low-performance plastics, or higher-cost polymeric materials by substituting low-cost plastics, due to their superior tensile strength qualities. Global need for high-performance materials in the healthcare sector has increased competition for fibre thermoplastics. The usage of fibre thermoplastics is important to the medical sector due to the lower weight of the required structure. Even though they are compact and have a high specific strength, fibre thermoplastics are now being used more frequently in the healthcare industry. However, producers of fibre thermoplastics are required to abide by stringent laws. The growth of the industry will be impacted by a number of rules regarding the quality of the raw materials used to create the items.
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Increasing demand for lightweight and radiolucent materials and Increasing demand for implantable devices
Market Growth Drivers:
Increase in the demand for vehicles, Exceptional properties of long fibre over short fibre thermoplastics and Less generation of VOCs and recyclability
Need for reducing capital and technology costs
Stringent Regulations Regarding the Quality of the Raw Materials and High processing and manufacturing costs
Increasing Use of Long Fibre Thermoplastics in Various End-Use Industries and Fibre Thermoplastics Are Under Pipeline for Orthopaedic Implants as Alternatives to Titanium in Knee and Hip Replacements
Global Medical Fibre Thermoplastics is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are KINGFA (China), Lotte Chemical (South Korea), Solvay (Belgium), SABIC (Saudi Arabia), Techno Compound (Germany), JNC Corporation (Japan), Daicel Polymer Limited (United States), Surgical Coatings LCC (United States), RTP Company (United States), PlastiComp (United States) and Nippon Electric Glass (Japan). Considering Market by End User, the sub-segment i.e. Hospitals will boost the Medical Fiber Thermoplastics market.
Latest Market Insights:
In June 2020, Aramco successfully completed share acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a total purchase price of USD 69.1 billion.
In February 2022, The Zurich-based business 9T Labs is receiving funding from Solvay Ventures, the company's venture capital fund, in order to scale up additive manufacturing of carbon-fiber-reinforced plastic (CFRP) components. With the help of 9T Labs' hybrid manufacturing technique, intricate, high-performance structural components may be made from carbon fiber-reinforced thermoplastic composites in quantities up to thousands of pieces annually. It offers a cost-effective manufacturing technology that will enable structural CFRP parts to displace metals considerably more quickly in demanding applications across numerous industries, including aerospace, automotive, and healthcare.
What Can be Explored with the Medical Fiber Thermoplastics Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Medical Fiber Thermoplastics Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Medical Fiber Thermoplastics
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Medical Fiber Thermoplastics market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Medical Fiber Thermoplastics market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Medical Fibre Thermoplastics Manufacturers, Healthcare Sector, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.