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Global Reinforced Plastics Market Report 2023: Market to Reach $314.5 Billion by 2030 - Reinforced Plastics Find Favor in Light-weighting in Aerospace, Marine Applications and Aircraft Interiors
Global Market for Reinforced Plastics
Dublin, Jan. 26, 2023 (GLOBE NEWSWIRE) -- The "Reinforced Plastics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Reinforced Plastics Market to Reach $314.5 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Reinforced Plastics estimated at US$240.1 Billion in the year 2022, is projected to reach a revised size of US$314.5 Billion by 2030, growing at a CAGR of 3.4% over the analysis period 2022-2030.
Carbon Fiber, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$75.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Glass Fiber segment is readjusted to a revised 3.5% CAGR for the next 8-year period.
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. adaptability.
The U.S. Market is Estimated at $70.2 Billion, While China is Forecast to Grow at 3.3% CAGR
The Reinforced Plastics market in the U.S. is estimated at US$70.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$56 Billion by the year 2030 trailing a CAGR of 3.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 2.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Metrics
Report Attribute | Details |
No. of Pages | 217 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $240.1 Billion |
Forecasted Market Value (USD) by 2030 | $314.5 Billion |
Compound Annual Growth Rate | 3.4% |
Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Reinforced Plastics: An Introductory Prelude
Recent Market Activity
Growing Use Case Across Core Sectors: Cornerstone for Present and Future Growth
Thrust towards Lightweight Materials Creates Fertile Environment for Market Expansion
Key Benefits Offered Augment Market Prospects
Low Weight
High Strength, Stiffness & Resiliency
Low Thermal Expansion & Thermal Insulation
Resistance to Corrosive Elements
Resistance to Magnetic & Electric Forces
Chemical Inertness
Design, Fabrication & Installation Flexibilities
Life Time Cost Savings
Future Prospects Remain Optimistic
Asia-Pacific Evolves into Most Important Regional Market
China Plays Pivotal Role in Asia-Pacific's Predominance
Revenue Contribution of Developed Regions Remains Robust
Impact of Recent Economic Upheavals on Reinforced Plastics Market
Stable Economic Scenario to Extend Growth Opportunities
Impact of Covid-19 and a Looming Global Recession
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Reinforced Plastics - Global Key Competitors Percentage Market Share in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3B-the Fiberglass Company (Belgium)
A. Schulman, Inc. (USA)
BASF SE (Germany)
China Jushi Co., Ltd. (China)
Chongqing Polycomp International Corporation (CPIC) (China)
Core Molding Technologies, Inc. (USA)
DowAksa Advanced Composites Holdings BV (Turkey)
DowDuPont Inc. (USA)
Fiber Reinforced Plastics (NZ) Ltd. (New Zealand)
Fiberset Incorporated (USA)
Hanwha Advanced Materials Corporation (South Korea)
Haysite Reinforced Plastics (USA)
Hexcel Corporation (USA)
Kuraray Co., Ltd. (Japan)
McClarin Plastics LLC (USA)
Mitsubishi Chemical Corporation (Japan)
Owens Corning, Inc. (USA)
PolyOne Corporation (USA)
PPG Industries, Inc. (USA)
Saint-Gobain SA (France)
SGL Group - The Carbon Company (Germany)
Solvay S.A. (Belgium)
Taishan Fiberglass Inc. (China)
Teijin Ltd. (Japan)
Continental Structural Plastics Inc. (USA)
Toho Tenax Co., Ltd. (Japan)
Toray Industries, Inc. (Japan)
Washington Penn Plastic Co., Inc. (USA)
3. MARKET TRENDS & DRIVERS
Sustained Demand for Glass Fiber Reinforced Plastics Drives Market Growth
Select Applications of GFRP by End-Use Sector: A Snapshot
Technological Advancements Enhance Appeal & Image
Bright Outlook for Carbon Fiber Reinforced Plastics Market
Factors Driving Consumption Growth of CFRP
Thermoplastic CFRP to Make Robust Gains
PAN Remains the Key Raw Material
Research on High-Strength CFRPs to Reduce Waste
Cost of Carbon Fiber - A Major Limiting Factor
Long Fiber Reinforced Thermoplastic Composites Gain Share in Demanding Applications
Long Glass Fiber Reinforced Polypropylene - A Cut Above the Rest
Glass-Carbon Fiber Hybrid Composites Gain Prominence
Transportation/Automotive: The Most Important End-Use Sector
End-Use Sector
Reinforced Plastics to Emerge as Mainstream Materials for Automakers
Development of Innovative Technologies for Carbon Fiber Usage in Mass Production
Sustained Thrust on CO2 Reductions Fuels Uptake of Reinforced Plastics
Growing Interest in Fuel Efficient Vehicles Augments Demand
Reinforced Thermoplastics - The Ultimate Choice of Car Makers
Growing Importance of Versatile Composites in Modern Construction Projects Favors Market Prospects
Key Drivers of Reinforced Plastics in Building & Construction Sector in a Nutshell
GFRP Set to Emerge as Mainstream Construction Material
CFRP Finds Increased Usage in Construction Projects
Uptrend in the Construction Sector Bodes Well for Market Growth
Reinforced Plastics to Make Inroads into Electrical & Electronic Industry
Consumer Products: A Niche Market for Reinforced Plastics
CFRP Evolves into Core Material in High-End Consumer Products
Reinforced Plastics Suffice Lightweighting Needs of Aerospace & Defense Manufacturers
Reinforced Plastics Find Favor in Aircraft Interiors
Reinforced Plastics Gain Impetus in Marine Applications
Corrosion Resistant Equipment: An Established End-Use Vertical
Reinforced Plastics Assume Critical Importance in Wind Energy Domain
Trend towards Longer Blades Bodes Well for Carbon Fiber Composites Market
A Comparative Analysis for Carbon Fiber & Glass Fibers in Wind Energy Applications
Reinforced Plastics Go Natural
Biodegradable Composites: Truly Natural
4. GLOBAL MARKET PERSPECTIVE
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