The Global Thermo Compression Forming Market was valued at USD 10.57 billion in 2023 and is projected to grow at a CAGR of 4.09% during the forecast period 2024-2032, reaching USD 15.16 billion by 2032. Thermo compression forming is a transformative manufacturing technology used to produce high-performance composite materials through heat and pressure. This process is pivotal in creating lightweight, durable, and complex components in industries such as automotive, aerospace, construction, and consumer electronics. The increasing need for fuel-efficient vehicles, high-strength construction materials, and compact, robust consumer electronics is driving demand for thermo compression forming technology globally.
The demand for lightweight, durable materials such as thermoplastic foams in aerospace, automotive, and construction industries has strengthened market growth. Additionally, the market is buoyed by innovations in composite materials, such as carbon fiber-reinforced plastics (CFRPs) and recyclable thermoplastics, which address sustainability concerns and provide cost-effective, high-performance solutions. These advancements make thermo compression forming a preferred choice for manufacturing components that meet stringent performance, weight, and environmental criteria.
Regionally, North America accounted for the largest market share in 2023 due to its robust aerospace and automotive industries. Meanwhile, the Asia Pacific region is anticipated to register the highest CAGR during the forecast period, driven by rapid industrialization, increased production of electric vehicles (EVs), and advancements in the electronics sector. The rising emphasis on eco-friendly and recyclable materials, combined with government initiatives supporting sustainable practices, continues to shape the growth trajectory of the thermo compression forming market.
Major market players included in this report are:
BASF SE
Core Molding Technologies
Engineered Plastic Products Inc.
FLEXTECH
Formed Solutions
Janco, Inc.
Mitsubishi Chemical Group
Present Advanced Composites Inc.
Ray Products Company Inc.
RCO Engineering
Toray Advanced Composites
The detailed segments and sub-segments of the market are explained below:
By Foam Type:
Thermoplastic Foams
Needle-Punch Nonwovens
Lightweight Glass Mat Thermoplastic
By End-Use Industry:
Automotive
Aerospace
Medical
Construction
Electrical & Electronics
Other End-Use Industries
By Region:
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical Year - 2022
Base Year - 2023
Forecast Period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Thermo Compression Forming Market Executive Summary
1.1. Global Thermo Compression Forming Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Foam Type
1.3.2. By End-Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Thermo Compression Forming Market Definition and Research Assumptions