Global Reinforced Plastics Market: Snapshot

Growing application of reinforced plastics in various industries is expected to grow the global reinforced market in the coming years. The reinforced plastic is widely used in the marine sector to make watercrafts it can substitute wood and steel structures, and gives a wide range of shading choices. The use of reinforced plastic also helps in protecting products during climate change.

The reinforced plastic is also widely used in the automobile industry owing to its unique properties such as malleability and low weight. In addition to that, high resistance to corrosion and chemical attack that has increased its demand in the chemical industry for making pipes, chemical storage vessels, and fume scrubber. The role of reinforced plastic in the automotive segment is rising due to increasing disposable in emerging economies that are growing the demand for finished and highly refined automobiles.

The global reinforced plastics market is projected to rise at a healthy CAGR of 7.6% during the forecast period between 2013 and 2019.  The valuation for the market is projected to attain US$15.82 bn by the end of 2019.

GFRP Dominates Reinforced Plastics Market Due to Rising Significance in Various Industries

The global reinforced plastics market is classified on the basis of application and product segments. The type products include aramid fiber reinforced plastics, carbon fiber reinforced plastics (CFRP), glass fiber reinforced plastics (GFRP), and others including metal, natural, boron, graphite fibers. Out of these segments, the GFRP is dominating the market due to its minimal accessibility and effort. Growing use of GFRP in electrical gadgets, automotive, and construction & infrastructure attributing to the growth of this segment. On the other hand, lightweight and design flexibility by the CFRP is rising in aircraft and wind turbine blades, as it increases aerodynamic efficiency.

On the basis of application, the global reinforced market is categorized into automotive, aerospace and aviation, building and construction, wind energy, electrical and electronics, marine, and others. Out of these, in 2012 the automotive segment dominated the global reinforced plastics market due to rising interest for automobiles in Asia Pacific. In addition to that booming demand for lightweight vehicles in Europe is also responsible for the growth of this segment.  The second position was held by building and development segment in the global reinforced plastics market. On the other hand, aerospace and aviation segment is projected to rise at 6.6% of CAGR during the forecast period mainly because of rising preference to travel in flight over different methods of transportation. Application of reinforced plastics is also seen in wind turbines as it provides sharp edges and increases its efficiency.

Rising Automotive Industry in North America to Boost Market Growth

Geographically, North America dominated the global reinforced plastics market due to its high significance in automotive and electrical and electronics segment. Asia Pacific held the second position in this market because of the rising application of reinforced plastics in various industries in the region.

In the competitive landscape section, various leading players in the market are analyzed. Some of the prominent players are BASF SE, Haysite Reinforced Plastics, DuPont, Binani Industries, and Huntsman Corporation.

Reinforced plastics are a derived class of materials that combine plastic and fibers and complement each other for improved structural and physical properties. Plastics have temperature limitations and low modulus properties, whereas fibers have high modulus. Plastics reinforced with fibers have high modulus, temperature resistance and other improved properties. Major polymers used are vinylester, epoxy and polyester resins, and phenol formaldehyde resins. Customized products are offered in the market with different fiber content and resins according to their applications. The most commonly used fibers include glass, carbon, metal, asbestos and cellulose.
 
Rising demand from automotive and building & construction applications are the major driving factor for growth of the reinforced plastics market. Availability of raw materials and price volatility of raw materials are expected to inhibit market growth. Furthermore, governmental regulations regarding exposure limits of various raw materials are hampering market growth. Growing demand for reinforced plastics in wind turbine manufacture is expected to provide opportunities for the players in this market.
 
The report defines the research scope and provides assumptions made during analysis of the reinforced plastics market. Secondary sources referred to for this study include, but are not limited to:  Reinforced Plastics Magazine, ICIS, Plastemart Magazine, Global Chemical Outlook, Environmental Protection Agency, European Plastics Council etc. 
The report includes executive summary of the global reinforced plastics with snapshot of overall information incorporated in the report. This also include production share, application share geographic share for base year and forecast year. The report covers analysis and forecast for the global reinforced plastics market in terms of volume (kilo tons) and revenue (USD million) from 2012 to 2019. The market has been segmented based on product type into carbon fiber reinforced plastics (CFRP), glass fiber reinforced plastics (GFRP), aramid fiber reinforced plastics and others. Other fibers include natural fiber, metal fiber, graphite and boron. The reinforced plastics market is further segmented based on applications by analyzing current and future trends of the market. In terms of application, the market has been segmented into automotive, building & construction, aerospace & aviation, wind energy, electrical & electronics, marine and others. Others application segment include pipes, biogas digesters, tanks and towers used in petrochemical industry. The product and application segments are forecasted from 2013 to 2019. Regional segmentation includes estimates and forecasts for North America, Europe, Asia Pacific and Rest of the World. Each region is further analyzed on each product type and application.
 
The report also provides a detailed analysis of the value chain to offer a comprehensive view of value addition at each stage of the value chain. The value chain analysis also includes degree o backward integration by players in reinforced plastics market. The study includes Porter’s five forces model that analyzes existing competition and impact of bargaining power of suppliers, bargaining power of buyers, threat from substitutes and threat from new entrants. This model also provides present impact of these factors and forecast for next few years. The report includes drivers and restraints affecting the reinforced plastics market growth and their impact on the market in the near future. Additionally, it provides opportunities for the reinforced plastics market during the forecast period on the global level. Furthermore, the report includes market attractiveness of the application on global level. The market attractiveness is evaluated based on growth rate, market size, raw materials, competition, economic factors and degree of integration. Company profiles comprise company overview, financial overview, product portfolio, business strategies, SWOT analysis and recent developments. 
 
Major players analyzed in the report include Celanese Corporation, the Dow Chemical Company, Huntsman Corporation, Du Pont, Binani Industries, Ahlstrom, BASF SE, PPG Industries, Haysite Reinforced Plastics and Solvay. 
 
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.)
  • Reinforced Plastics Market - Regional Analysis
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World
.