Transparency Market Research has released a new
market report titled "Reinforced Plastics (Carbon Fiber Reinforced
Plastics, Glass Fiber Reinforced Plastics, Aramid Fiber Reinforced Plastics and
Others) Market for Automotive, Building & Construction, Aerospace &
Aviation, Wind Energy, Marine, Electrical & Electronics and Other
Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2013 - 2019," which observes that the global reinforced plastics market
demand was worth USD 8.42 billion in 2012 and is expected to reach USD 15.82
billion by 2019, expanding at a CAGR of 7.6% from 2013 to 2019.
Browse the
full Reinforced Plastics Market Report at
Rising demand for automotives in Asia Pacific due
to changing lifestyle and increasing disposable income is one of the major
drivers for growth in the reinforced plastics market. Additionally, growing
demand for reinforced plastics from the building & construction industry is
boosting the reinforced plastics market. However, stringent government
regulations in the U.S. and Europe regarding exposure limits for raw materials
are anticipated to hamper market growth.
The global reinforced plastics market was dominated
by North America due to high demand from the building & construction
industry. North America accounted for 35.0% of the global reinforced plastics
market in 2012. Stringent regulations in Europe to reduce CO2 emissions in
vehicles are driving the market for reinforced plastics. Usage of reinforced
plastics reduces the weight of the vehicle by up to 50%. This, in turn, would
lead to less consumption of fuel, thereby lowering CO2 emissions. The market in
Asia Pacific is projected to reach USD 4.73 billion by 2019.
Automotive emerged as the largest application of
the reinforced plastics market in 2012. Rising demand for reinforced plastics
in automobiles is due to its usage in the manufacture of various parts of
vehicles. The building & construction application segment is estimated to
grow at a CAGR of 6.9% from 2013 to 2019. Usage of reinforced plastics in
printed circuit boards forms the major part of the electrical & electronics
application. Among all the applications, the marine application is likely to
expand at the lowest CAGR between 2013 and 2019.
Glass fiber reinforced plastics (GFRP) was the
largest product segment in the global reinforced plastics market in 2012. Due
to low cost and easy availability, GFRP is the most widely used among the
applications. Carbon fiber reinforced plastics is gaining demand from wind energy
application and is expected to grow at a CAGR of 9.5% from 2013 to 2019. Other
fiber-reinforced plastics include metal, graphite and natural fibers. These
accounted for 5.5% of the market in 2012.
The global reinforced plastics market is fragmented
with no clear leader. Many small China-based players operate in the market. Key
market players include BASF SE, Celanese, Huntsman Corporation, DuPont, PPG
Industries, Binani Industries, Ahlstrom, Haysite Reinforced Plastics, Solvay
and Kemrock Industries.
This report segments the global reinforced plastics
market as follows:
Reinforced
Plastics Market - Product Analysis
·
Carbon fiber
reinforced plastics (CFRP)
·
Glass fiber
reinforced plastics (GFRP)
·
Aramid fiber
reinforced plastics
·
Other fiber
reinforced plastics (Including natural fibers, metal, etc.)
Reinforced
Plastics Market - Application Analysis
·
Automotive
·
Building &
construction
·
Aerospace &
aviation
·
Wind energy
·
Marine
·
Electrical &
electronics
·
Others
(Including pipe, tanks, consumer goods, etc.)
Request
Sample Report at
Reinforced
Plastics Market - Regional Analysis
·
North America
·
Europe
·
Asia Pacific
·
Rest of the
World
Browse
Chemical & Materials Market Research Reports @
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