Dublin, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The "Reinforced Plastics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Reinforced Plastics Market to Reach 10.3 Million Tons by 2027
Amid the COVID-19 crisis, the global market for Reinforced Plastics estimated at 7.7 Million Tons in the year 2020, is projected to reach a revised size of 10.3 Million Tons by 2027, growing at a CAGR of 4.3% over the analysis period 2020-2027.
Transportation, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach 3.3 Million Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Construction segment is readjusted to a revised 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at 2.3 Million Tons, While China is Forecast to Grow at 4% CAGR
The Reinforced Plastics market in the U.S. is estimated at 2.3 Million Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 1.8 Million Tons by the year 2027 trailing a CAGR of 4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Electrical & Electronics Segment to Record 3.7% CAGR
In the global Electrical & Electronics segment, USA, Canada, Japan, China and Europe will drive the 3.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of 934.4 Thousand Tons in the year 2020 will reach a projected size of 1.2 Million Tons by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 1.1 Million Tons by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
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
2. FOCUS ON SELECT PLAYERS (Total 89 Featured)
- 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
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ccf15r
