Abstract
Material substitution to remain key driver of US demand through 2013
Reinforced plastics demand is projected to increase 2.8 percent annually to
3.6 billion pounds in 2013. Material substitution will remain the driving
force behind advances. Higher performance requirements, combined with resin,
reinforcement and processing improvements, will broaden applications and
enhance competitiveness with steel and aluminum. Price increases for
reinforced plastics are expected to moderate following the significant price
spikes experienced between 2004 and 2006, which resulted from escalating
petroleum and natural gas prices.
Reinforced thermoplastics to outpace thermosets
Thermoset resins, primarily unsaturated polyester, will continue to account
for nearly 60 percent of all reinforced plastics demand in 2013. Slightly
faster growth, however, is anticipated for thermoplastics due to their better
aesthetics and easier processing. Glass fibers, due to their low cost and good
performance, will continue to be the dominant reinforcement material in 2013,
but carbon fiber demand is expected to increase nearly ten percent annually
through 2013. Nanomaterials are also expected to emerge commercially,
presenting excellent opportunities.
US demand for reinforced thermosets is projected to expand 2.8 percent yearly
to 2.1 billion pounds in 2013 driven by their low cost and performance
attributes such as strength and corrosion resistance. Product innovations and
improved sheet molding compounds will also spur growth. Niche opportunities
are expected in areas such as wind turbine blades and pedestrian and vehicular
bridge decking. Unsaturated polyester will remain the leading resin,
accounting for 88 percent of all thermosets in 2013. Opportunities for
reinforced epoxy are anticipated in military and commercial aircraft and
aerospace applications, as well as windmill blades.
Reinforced thermoplastics demand is forecast to grow 2.9 percent annually to
1.5 billion pounds in 2013 due to their competitive cost, high performance
capabilities, processing advantages and better design capabilities.
Polypropylene will remain the leading thermoplastic and present above average
growth based on its low cost, stiffness and dimensional stability,
particularly in motor vehicle uses. Good growth is also expected for nylon and
thermoplastic polyester, mainly in motor vehicle applications.
Motor vehicle applications to exhibit fastest growth
Construction and motor vehicles will together account for 60 percent of total
reinforced plastics demand in 2013. Motor vehicle applications will exhibit
the fastest growth, driven by rebounding motor vehicle production levels.
Construction uses will be stimulated by the low cost, durability and corrosion
resistance of reinforced thermoset polyester in products such as tanks, pipe
and bathroom components. The producer durable equipment market will be
stimulated by heightened demand for business equipment and other electrical
and electronic products due to rapid technology changes.
Study coverage
Reinforced Plastics, a new Freedonia industry study, presents historical
demand data (1998, 2003 and 2008) as well as forecasts for 2013 and 2018 by
resin (e.g., unsaturated polyester, polyester, polypropylene, epoxy, nylon),
reinforcing material and market (e.g., producer durable equipment, motor
vehicles, construction, marine). In addition, the study considers key market
environment factors, evaluates company market shares and profiles 45 industry
participants.
Freedonia' s methods involve:
- Establishing consistent economic and market forecasts
- Using input/output ratios, flow charts and other economic methods to
quantify data
- Employing in-house analysts who meet stringent quality standards
- Interviewing key industry participants, experts and end users
- Researching a proprietary database that includes trade publications,
government reports and corporate literature
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