Dublin, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The "Reinforced Plastics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Reinforced Plastics is estimated at US$277.3 Billion in 2023 and is projected to reach US$349.9 Billion by 2030, growing at a CAGR of 3.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the reinforced plastics market is driven by several factors that align with technological, industrial, and consumer trends. Firstly, the demand for lighter, more fuel-efficient vehicles in the automotive and aerospace sectors has significantly increased the use of reinforced plastics. These materials contribute to reduced vehicle weight, which is directly linked to lower fuel consumption and emissions. The construction industry's ongoing quest for materials that provide superior strength, flexibility, and longevity under varying environmental conditions also favors reinforced plastics.
Consumer demand for high-performance, lightweight materials in products ranging from recreational equipment to personal electronics further bolsters this growth. Technological advancements in recycling and the manufacturing processes of reinforced plastics are making these materials more competitive and appealing to industries aiming for sustainability and efficiency. These diverse drivers ensure that the reinforced plastics market continues to expand, embracing new applications and innovations.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Reinforced Plastics Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Reinforced Plastics Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Carbon Fiber Reinforced Plastics segment, which is expected to reach US$82.0 Billion by 2030 with a CAGR of a 4.0%. The Glass Fiber Reinforced Plastics segment is also set to grow at 3.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $73.4 Billion in 2023, and China, forecasted to grow at an impressive 3.2% CAGR to reach $56.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as 3B Fiberglass Company, A. Schulman Inc., BASF SE, and more.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 217 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $277.3 Billion |
| Forecasted Market Value (USD) by 2030 | $349.9 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Reinforced Plastics - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Demand for Lightweight Materials in Automotive Industry Drives Growth in Reinforced Plastics Market
- Expansion of Renewable Energy Sector Spurs Use of Reinforced Plastics in Wind Turbine Blades
- Advances in Composite Technology Propel Innovations in Reinforced Plastics
- Rising Environmental Concerns Strengthen Business Case for Recyclable Reinforced Plastics
- Innovations in Aerospace Applications Expand Addressable Market Opportunity for Advanced Composites
- Growth in Construction and Infrastructure Development Drives Adoption of Reinforced Plastic Products
- Technological Advances in 3D Printing Using Reinforced Plastics Sets the Stage for Market Growth
- Shift Towards High-Performance Materials in Sports and Leisure Applications Bodes Well for Reinforced Plastics
- Consumer Demand for Durable and Lightweight Consumer Goods Generates Opportunities in Reinforced Plastics
- Growing Healthcare Applications of Reinforced Plastics
FOCUS ON SELECT PLAYERS (Total 89 Featured)
- 3B Fiberglass Company
- A. Schulman Inc.
- BASF SE
- China Jushi Co. Ltd.
- Chongqing Polycomp International Corporation (CPIC)
- Continental Structural Plastics Inc.
- Core Molding Technologies Inc.
- Dow Inc.
- DowAksa Advanced Composites Holdings BV
- Fiber Reinforced Plastics (NZ) Ltd.
- Fiberset Inc.
- Hanwha Advanced Materials Corporation
- Haysite Reinforced Plastics
- Hexcel Corporation
- Kuraray Co. Ltd.
- McClarin Plastics LLC
- Mitsubishi Chemical Corporation
- Owens Corning Inc.
- PolyOne Corporation
- PPG Industries Inc.
- SGL Group - The Carbon Company
- Solvay S.A.
- Taishan Fiberglass Inc.
- Teijin Ltd.
- Toho Tenax Co. Ltd.
- Toray Industries Inc.
- Washington Penn Plastic Co. Inc.
For more information about this report visit https://www.researchandmarkets.com/r/7hc0q0
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