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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