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.

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.

 

 

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.