Global Reinforced Plastics Market is Expected to Reach USD 15.82 Billion in 2019: Transparency Market Research - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Global Reinforced Plastics Market is Expected to Reach USD 15.82 Billion in 2019: Transparency Market Research

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ALBANY, New York, June 16, 2014 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Reinforced Plastics (Carbon Fiber Reinforced Plastics, Glass Fiber Reinforced Plastics, Aramid Fiber Reinforced Plastics and Others) Market for Automotive, Building & Construction, Aerospace & Aviation, Wind Energy, Marine, Electrical & Electronics and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," 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

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.

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.

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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:

  • 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 the full Reinforced Plastics Market Report at

  • Reinforced Plastics Market - Regional Analysis 
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World

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About Us 

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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