U.S. market for reinforced plastics to hit $7.4 billion by 2013: report

Demand for reinforced plastics in the U.S. is forecast to grow 2.8 per cent yearly to 3.6 billion pounds in 2013, valued at US$7.4 billion, according to a new study from research firm The Freedonia Group.

The demand will create a market for 2.3 billion pounds of resin and 1.3 billion pounds of reinforcements the study, entitled “Reinforced Plastics”, said.

“Prices of reinforced plastics will moderate through 2013 following the price spikes between 2006 and 2008 caused by escalating raw material and energy costs,” the study said.

Glass fibers, due to their low cost and good performance, will remain the dominant reinforcement material through 2013, the study predicts. However, carbon fibre will increase at a significantly faster rate due to opportunities in high performance areas such as aircraft/aerospace.

Nanomaterial reinforcements will also rise rapidly, with demand reaching almost five million pounds in 2013.

Resin types analyzed include thermosets (unsaturated polyester, epoxy and others) and thermoplastics (polypropylene, polyester, nylon and others). Principal markets include construction, motor vehicles, producer durable equipment, marine, consumer durables and others.

A description of the study, with table of contents and brochure as well as an option to purchase it online, can be found at this link.