The global reinforced composite plastics market to grow to nearly 17.2 billion lbs by 2019.
(PRWEB) February 06, 2014
According to a new technical market research report The Global Market for Composites: Resins, Fillers, Reinforcements, Natural Fibers and Nanocomposites, from BCC Research (http://www.bccresearch.com), the global reinforced composite plastics market is estimated at 13.6 billion lbs in 2013 and is expected to reach at 14.3 billion lbs for 2014. BCC Research projects the market to grow to nearly 17.2 billion lbs by 2019, and register a five-year compound annual growth rate of 3.7% from 2014 to 2019.
Construction/infrastructure and automotive products are the key applications of this market since they make up most of the total volume utilized, followed by marine, anticorrosion, and electronic products. The largest growth will be experienced by the very low volume aerospace market led by introduction of composite commercial aircraft exterior parts such as fuselages and wings.
In terms of resins, thermosets accounted for the lion’s share of the total volume in 2013 and will maintain this position over the next five years. Reinforced thermoplastic composites have become popular, especially in terms of having a higher recycling profile, but much of this growth is expected to be replaced by nonfibrous reinforcements in plastics and some metals. Within the thermoplastic category, long-fiber thermoplastics will become increasingly important.
In the automotive market, the increase in Corporate Annual Fuel Economy (CAFE) levels for future models will have a positive effect on reinforced plastics. This will be due to the replacement of metals in many cases, since plastics are clearly lighter than steel and several other metals.
This report covers both thermosets and thermoplastics that use reinforcements to increase their respective property profiles for 2013, 2014, and 2019. These fibrous reinforcements include all glass fiber variants, carbon, boron, ceramic, aramid, and stainless steel fibers, and so forth. Current and forecasted quantitative market estimates are provided for all appropriate thermoset and thermoplastic reinforced composites by application, along with detailed descriptions of the major types of reinforcements.
Applications discussed in this report include automotive; construction/infrastructure including other construction products, panels and bathroom products; anti-corrosion products; marine markets; aerospace (mostly aircraft); electronic parts/components; appliances; consumer products such as, medical devices, sport and leisure, lawn/garden products as well as a miscellaneous market which covers the power market, other transportation areas such as rail, wind energy products, and others.
Both primary and secondary research methodologies were used in preparing this study. A comprehensive review and analysis was undertaken of literature related to this industry, which is known by several names (e.g., reinforced plastics, composites, etc.). This analysis included resin usage, applications, markets, technology, producers and suppliers, trade named products, new developments, environmental issues, and so forth.
This report is intended for those in the plastic reinforcement/composite market who will be most interested in new developments in this field, as will plastic producers and many in the major end-use industries such the auto, construction, aviation, anti-corrosion and marine markets. In addition, resin producers will find valuable information in terms of expected increases or declines in specific plastic usage in these markets.