Reinforced Plastics Market: Snapshot

The global reinforced plastics market is projected to grow over the coming years inferable from various applications in a number of industries. Reinforced plastics are utilized to produce water crafts in marine part, substituting wood and steel structures and giving diverse shading choices, polished and climate security. These are additionally connected in car industry, attributable to one of a kind properties, for instance, malleability, surface finish and low weight. Automotive segment is relied upon to extend essentially because of expanding extra cash and enhanced ways of life in rising economies. Reinforced plastics are additionally connected in protection part and this fragment is required to extend, attributable to rising cross outskirt strains between various nations.

Reinforced plastics have a place with another class of materials intended to defeat impediments of conventional materials, for example, low modulus properties and temperature by joining them with strands. They have a place with flexible group of composites and can be used in nearly in each field. Ordinary safe plastics comprise of unsaturated polyester gum consolidated for the most part with glass fiber to frame inflexible material showing predominant qualities, for example, compound resistance, light weight, plan opportunity, abnormal amounts of firmness, great electrical protecting properties and maintenance of dimensional properties at different temperatures. Significant polymers utilized reinforced plastics fabricating incorporate phenol formaldehyde, polyester, vinyl ester and epoxy gums alongside basic strands, for example, cellulose, asbestos, metal, carbon and glass.

The worldwide reinforced plastics market, which was evaluated to be at US$8.42 bn in the year 2012 projected to achieve US$15.82 bn by 2019, the end of the forecast period. It is predicted to showcase a healthy 7.6% CAGR over the forecast duration.

Compliant Features of GFRP Result in High Demand from Automotive Segment

The automotive segment rose as the dominating one in the worldwide reinforced plastics market in 2012. It is foreseen to extend at the most noteworthy development rate among all applications. Rising interest for automobiles in the Asia Pacific and for lightweight vehicles in Europe is assessed to drive the reinforced plastics market. Use of reinforced plastics diminishes weight of the vehicle. This, thusly, prompts enhanced fuel proficiency. Building and development was the second-biggest application portion of the worldwide reinforced plastics market. Use of reinforced plastics in efficiently proficient sharp edges in wind vitality enhances effectiveness of wind turbines. Aviation and avionics application is anticipated to develop at a CGAR of 6.6% from 2013 to 2019 because of growing consumer inclination for flights over different methods of transport. Moreover, interest for reinforced plastics in this application is driven by legislative controls with respect to lessening of CO2 emanations per flying hour.

GFRP is the most generally utilized item sort all around. Because of minimal effort and accessibility, GFRP is favored in many applications, for instance, automotives, electrical gadgets and construction & infrastructure. Use of CFRP is expanding in wind turbine cutting edges and flying machine parts because of its low weight and outline adaptability that enables makes to plan efficiently effective items. The worldwide CFRP market is foreseen to achieve USD 2,469.7 million by 2019. Other fiber-reinforced plastics incorporate regular strands, boron, graphite and metal filaments reinforced with various pitches.

Demand from Leading Segments to Propel North America to Forefront of Market

Geographically, North America commanded the worldwide reinforced plastics market because of appeal from car and electrical and hardware applications. Asia Pacific took after North America as far as utilization. It is assessed to be the quickest developing locale amid the estimate time frame. Real assembling organizations situated in the U.S. also, Europe are moving their assembling bases to China because of plentiful accessibility of raw materials and modest work. China was the biggest maker of glass that aides in decreasing the general cost of generation of GFRP, which represents over 89% of the worldwide reinforced plastic utilization in 2012. Europe is relied upon to encounter direct development rate as far as utilization and interest for CFRP from wind vitality and car enterprises is probably going to drive the general market.

Some of the leading vendors of the worldwide reinforced plastics market are Binani Industries, Haysite Reinforced Plastics, DuPont, BASF SE 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