Which
observes that the global reinforced plastics market demand was worth
USD 8.42 billion in 2012 and is expected to reach USD 15.82 billion
by 2019, expanding at a CAGR of 7.6% from 2013 to 2019.
Browse
the full Reinforced Plastics Market Report at
http://www.transparencymarketresearch.com/reinforced-plastics-market.html
Rising
demand for automotives in Asia Pacific due to changing lifestyle and
increasing disposable income is one of the major drivers for growth
in the reinforced plastics market. Additionally, growing demand for
reinforced plastics from the building & construction industry is
boosting the reinforced plastics market. However, stringent
government regulations in the U.S. and Europe regarding exposure
limits for raw materials are anticipated to hamper market growth.
The
global reinforced plastics market was dominated by North America due
to high demand from the building & construction industry. North
America accounted for 35.0% of the global reinforced plastics market
in 2012. Stringent regulations in Europe to reduce CO2 emissions in
vehicles are driving the market for reinforced plastics. Usage of
reinforced plastics reduces the weight of the vehicle by up to 50%.
This, in turn, would lead to less consumption of fuel, thereby
lowering CO2 emissions. The market in Asia Pacific is projected to
reach USD 4.73 billion by 2019.
Automotive
emerged as the largest application of the reinforced plastics market
in 2012. Rising demand for reinforced plastics in automobiles is due
to its usage in the manufacture of various parts of vehicles. The
building & construction application segment is estimated to grow
at a CAGR of 6.9% from 2013 to 2019. Usage of reinforced plastics in
printed circuit boards forms the major part of the electrical &
electronics application. Among all the applications, the marine
application is likely to expand at the lowest CAGR between 2013 and
2019.
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Glass
fiber reinforced plastics (GFRP) was the largest product segment in
the global reinforced plastics market in 2012. Due to low cost and
easy availability, GFRP is the most widely used among the
applications. Carbon fiber reinforced plastics is gaining demand from
wind energy application and is expected to grow at a CAGR of 9.5%
from 2013 to 2019. Other fiber-reinforced plastics include metal,
graphite and natural fibers. These accounted for 5.5% of the market
in 2012.
The
global reinforced plastics market is fragmented with no clear leader.
Many small China-based players operate in the market. Key market
players include BASF SE, Celanese, Huntsman Corporation, DuPont, PPG
Industries, Binani Industries, Ahlstrom, Haysite Reinforced Plastics,
Solvay and Kemrock Industries.
This
report segments the global reinforced plastics market as follows:
Browse
all Press Releases:
http://www.transparencymarketresearch.com/press-releases.htm
Reinforced
Plastics Market - Product Analysis
Carbon
fiber reinforced plastics (CFRP)
Glass
fiber reinforced plastics (GFRP)
Aramid
fiber reinforced plastics
Other
fiber reinforced plastics (Including natural fibers, metal, etc.)
Reinforced
Plastics Market - Application Analysis
Automotive
Building
& construction
Aerospace
& aviation
Wind
energy
Marine
Electrical
& electronics
Others
(Including pipe, tanks, consumer goods, etc.)
Browse
all Article :
http://www.transparencymarketresearch.com/articles.htm
Reinforced
Plastics Market - Regional Analysis
North
America
Europe
Asia
Pacific
Rest
of the World
Browse
Chemical & Materials Market Research Reports @
http://www.transparencymarketresearch.com/chemical-market-reports-2.html
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