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Home » Chemicals and Materials » Thermo Compression Forming Market Report

Thermo Compression Forming Market By Material Type (Carbon Fiber-Reinforced Plastics (CFRP), Glass Fiber-Reinforced Plastics (GFRP), Natural Fiber Composites, Thermoplastics, Bio-based Composites, Recycled Composites); By Application (Automotive (Interior, Exterior, Structural Components), Aerospace (Aircraft Interiors, Structural Parts), Electronics (Casing, Circuit Boards), Consumer Goods, Packaging, Medical Devices); By Process Type (Hot Press Forming, Sheet Molding Compound (SMC), Bulk Molding Compound (BMC), Resin Transfer Molding (RTM)); By End-Use Industry (Automotive, Aerospace and Defense, Electronics, Consumer Goods, Medical Devices, Packaging, Construction); By Geography, Segment revenue estimation, Forecast, 2024-2032.

Published On: SEP-2024   |   Base Year: 2022   |   No Of Pages: 150   |   Historical Data: 2017-2021   |   Formats: PDF   |   Report ID: 53227862

The thermo compression forming market in 2023 was worth USD 4.8 billion and will be worth USD 9.7 billion by 2030, growing at a CAGR of 9% during the forecast period.

 

The thermo compression forming market is developing because of the rising need for light and strong materials, especially in the aircraft & automotive industries. Given that the automotive industry is targeting to cut the mass of vehicles by as much as 30% to meet market demands for cleaner vehicles, thermo compression forming has become popular, for it makes it possible to manufacture lightweight but high-strength composite parts. For instance, CFRP manufactured through this technique is widespread in car body parts and structures to decrease mass while preserving stiffness. New trends involve the application of more sophisticated automation in thermo compression to achieve faster cycle times and higher accuracy, necessary in automotive and electronics applications. There is also a growing demand for eco friendly manufacturing processes, leading to increased use of recycled composite materials in thermo compression forming, fueling market growth.

 

A major opportunity in the thermo compression forming market lies in the growing demand for sustainable and recyclable composite materials, particularly in sectors like automotive, electronics, and packaging. With global plastic waste projected to double by 2040, industries increasingly seek eco friendly alternatives. Thermo compression forming provides a solution for the use of recycled and bio-based composite material during production. For example, automotive manufacturers are now exploring recycled carbon fiber and natural fiber composites for interior and exterior components, reducing weight and environmental impact. Recent developments include advancements in processing technologies that efficiently use bio-composites, such as flax and hemp fibers, in thermo compression forming. These innovations allow manufacturers to align with sustainability goals while tapping into growing markets for green materials.

 

thermo-compression-forming-market-infographics

 

Market Segmentation

By Material Type:

  • Carbon Fiber-Reinforced Plastics (CFRP)

  • Glass Fiber-Reinforced Plastics (GFRP)

  • Natural Fiber Composites

  • Thermoplastics

  • Bio-based Composites

  • Recycled Composites

 

By Application:

  • Automotive (Interior, Exterior, Structural Components)

  • Aerospace (Aircraft Interiors, Structural Parts)

  • Electronics (Casing, Circuit Boards)

  • Consumer Goods

  • Packaging

  • Medical Devices

 

By Process Type:

  • Hot Press Forming

  • Sheet Molding Compound (SMC)

  • Bulk Molding Compound (BMC)

  • Resin Transfer Molding (RTM)

 

By End-Use Industry:

  • Automotive

  • Aerospace and Defense

  • Electronics

  • Consumer Goods

  • Medical Devices

  • Packaging

  • Construction

 

By Region

North America

  • US

  • Mexico

  • Canada

  • Rest of North America

 

Europe

  • Switzerland

  • Russia

  • France

  • Germany

  • U.K

  • Finland

  • Turkey

  • Netherlands

  • Belgium

  • Spain

  • Italy

  • Rest of Europe

 

Asia Pacific

  • India

  • China

  • South Korea

  • Japan

  • Singapore

  • Thailand

  • Indonesia

  • Malaysia

  • Philippines

  • Australia

  • Rest of Asia-Pacific

 

LAMEA

  • Brazil

  • Argentina

  • Uruguay

  • Saudi Arabia

  • Rest of LAMEA

 

The Asia-Pacific region lays immense market share in thermo compression forming due to its immense presence in the automotive, electronics, and consumer goods sectors. Countries like China, Japan, and South Korea are key players, with Asia accounting for over 50% of global automotive production. The growing use of lightweight composite materials in these industries has accelerated the adoption of thermo-compression forming to meet the demand for efficient and cost-effective production. For example, China's focus on electric vehicles (EVs) has increased usage of lightweight composite components to improve vehicle efficiency and range. These companies' recent developments include automation and advanced processing technologies that have improved production speed and accuracy. The Asia-Pacific thermo compression forming market is closely tied to industrialization and investments in advanced composite materials, which will increase its demand in the coming years.

 

Key Players

  • Toray Industries, Inc.

  • Hexcel Corporation

  • Solvay S.A.

  • Teijin Limited

  • SGL Carbon

  • Gurit Holding AG

  • Mitsubishi Chemical Corporation

  • BASF SE

  • Plasan Carbon Composites

 

Thermo Compression Forming Market Report Coverage

Report Attribute

Details

Forecast Period

2023 – 2030

Market Size Value in 2023

USD 4.8 billion

Revenue Forecast in 2030

USD 9.7 billion

Overall Growth Rate

CAGR of 9%

Base Year for Estimation

2022

Historical Data

2017 – 2021

Unit

USD Billion, CAGR (2023 – 2030)

Segmentation

By Material Type, By Application, By End-Use Industry, By Region

By Material Type

Carbon Fiber-Reinforced Plastics (CFRP), Glass Fiber-Reinforced Plastics (GFRP), Thermoplastics

By Application

Automotive, Aerospace, Electronics, Consumer Goods

By End-Use Industry

Automotive, Aerospace, Electronics, Healthcare, Construction

By Region

North America, Europe, Asia-Pacific, LAMEA

Country Scope

US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

 

Frequently Asked Question About This Report

The thermo compression forming market was valued at USD 4.8 billion in 2023 and is projected to reach USD 9.7 billion by 2030, growing at a CAGR of 9% during the forecast period.

The market is driven by the rising demand for lightweight and high-strength materials, particularly in the automotive and aerospace industries, aiming to improve fuel efficiency and performance.

Key players include Teijin Limited, SGL Carbon, Gurit Holding AG, Mitsubishi Chemical Corporation, and BASF SE.

Asia-Pacific is expected to hold a significant market share, attributed to the presence of major automotive and electronics manufacturers and the adoption of advanced manufacturing technologies.

The automotive sector holds the largest market share, with thermo compression forming being extensively used for producing lightweight components to enhance vehicle efficiency.

.

Table of Contents

1.    THERMO COMPRESSION FORMING  MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030)
1.1. North America
1.2. Europe
1.3. Asia Pacific
1.4. Latin America
1.5. Middle East & Africa
2.    THERMO COMPRESSION FORMING  MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030)
2.1. North America
2.2. Europe
2.3. Asia Pacific
2.4. Latin America
2.5. Middle East & Africa
3.    MARKET SHARE ANALYSIS – THERMO COMPRESSION FORMING  MARKET
3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume
3.2. Market Share, 2023
3.3. Market By Material Type and End Use Outlook Analysis
4.    HISTORIC TRENDS IN THERMO COMPRESSION FORMING  MARKET
5.    EMERGING MARKET TRENDS
6.    NORTH AMERICA THERMO COMPRESSION FORMING  MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
6.1. North America Thermo Compression Forming  Historical Market ($MILLION), (2017 – 2023)
6.2. North America Thermo Compression Forming  Market ($MILLION) and Forecasts (2024 – 2030)
6.3. North America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Material Type

6.3.1. Carbon Fiber-Reinforced Plastics (CFRP)
6.3.2. Glass Fiber-Reinforced Plastics (GFRP)
6.3.3. Natural Fiber Composites
6.3.4. Thermoplastics
6.3.5. Bio-based Composites
6.3.6. Recycled Composites
6.4. North America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Process Type
6.4.1. Hot Press Forming
6.4.2. Sheet Molding Compound (SMC)
6.4.3. Bulk Molding Compound (BMC)
6.4.4. Resin Transfer Molding (RTM)
6.5. North America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
6.5.1. Automotive (Interior, Exterior, Structural Components)
6.5.2. Aerospace (Aircraft Interiors, Structural Parts)
6.5.3. Electronics (Casing, Circuit Boards)
6.5.4. Consumer Goods
6.5.5. Packaging
6.5.6. Medical Devices
6.6. North America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User
6.6.1. Automotive
6.6.2. Aerospace and Defense
6.6.3. Electronics
6.6.4. Consumer Goods
6.6.5. Medical Devices
6.6.6. Packaging
6.6.7. Construction

6.7. North America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
6.7.1. USA
6.7.2. Canada
6.7.3. Rest of North America
7.    USA THERMO COMPRESSION FORMING  MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
8.    EUROPE THERMO COMPRESSION FORMING  MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
8.1. Europe Thermo Compression Forming  Historical Market ($MILLION), (2017 – 2023)
8.2. Europe Thermo Compression Forming  Market ($MILLION) and Forecasts (2024 – 2030)
8.3. Europe Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Material Type
8.4. Europe Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Process Type
8.5. Europe Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
8.6. Europe Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User
8.7. Europe Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
8.7.1. Germany
8.7.2. France
8.7.3. UK
8.7.4. Italy
8.7.5. Spain
8.7.6. Rest of Europe
9.    APAC THERMO COMPRESSION FORMING  MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
9.1. APAC Thermo Compression Forming  Historical Market ($MILLION), (2017 – 2023)
9.2. APAC Thermo Compression Forming  Market ($MILLION) and Forecasts (2024 – 2030)
9.3. APAC Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Material Type
9.4. APAC Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Process Type
9.5. APAC Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
9.6. APAC Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User
9.7. APAC Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
9.7.1. China
9.7.2. Japan
9.7.3. South Korea
9.7.4. India
9.7.5. Australia
9.7.6. Rest of APAC
10.    LATIN AMERICA THERMO COMPRESSION FORMING  MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
10.1. Latin America Thermo Compression Forming  Historical Market ($MILLION), (2017 – 2023)
10.2. Latin America Thermo Compression Forming  Market ($MILLION) and Forecasts (2024 – 2030)
10.3. Latin America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Material Type
10.4. Latin America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Process Type
10.5. Latin America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
10.6. Latin America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User
10.7. Latin America Thermo Compression Forming  Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
10.7.1. Brazil
10.7.2. Argentina
10.7.3. Rest of Latin America
11.    COMPANY PROFILES:
11.1. TORAY INDUSTRIES, INC.
11.1.1. Company Overview  
11.1.2. Company Snapshot  
11.1.3. Operating business segments
11.1.4. Product offered and Revenue
11.1.5. Production & Sales
11.2. Hexcel Corporation
11.3. Solvay S.A.
11.4. Teijin Limited
11.5. SGL Carbon
11.6. Gurit Holding AG
11.7. Mitsubishi Chemical Corporation
11.8. OTHER MARKET PLAYERS

 

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