Reinforced Plastics Market to Register a 7.6% CAGR by 2019, With the Rise of GFRP Product Segment: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research has published a new report, titled “Reinforced Plastics Market (Carbon Fiber Reinforced Plastics, Glass Fiber Reinforced Plastics, Aramid Fiber Reinforced Plastics and Others) 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”.
According to the report, the global reinforced plastics market stood at US$8.42 billion in 2012 and is now expected to reach US$15.82 billion by the end of 2019, growing at a remarkable CAGR of 7.6% from 2013 to 2019.
The report incorporates in-depth information of the product types, applications, production share, and value addition at each stage of the value chain.
Based on product type, the market is segmented into glass fiber reinforced plastics (GFRP), carbon fiber reinforced plastics (CFRP), aramid fiber reinforced plastics and others (including natural fiber, metal fiber, graphite, and boron). Due to low cost and availability, GFRP is the most widely used product in many applications.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/reinforced-plastics-market.htm
The reinforced plastics market also finds its use in numerous applications such as aerospace and aviation, automotive, electrical and electronics, wind energy, building and construction, marine, and others (including tanks, towers, pipes, and biogas digesters).
Geographically, North America dominated the global reinforced plastics market in 2012. The region accounted for 35.0% of the global reinforced plastics market due to high demand from the construction and building industry. The report also estimates that by 2019, Europe is expected to witness high growth in this market due to stringent regulations to reduce CO2 emissions in vehicles. By 2019, growth in the reinforced plastics market will also be seen in Asia-Pacific and reach US$4.73 billion.
Plastic Packaging Market: http://www.transparencymarketresearch.com/plastic-packaging.html
About Transparency Market Research
Transparency Market Research is a U.S. based market Intelligence Company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.