Plastics for Composites Market is expected to grow from USD 23.34 Billion in 2022 to USD 30.49 Billion by 2028; it is estimated to record a CAGR of 4.6% from 2022 to 2028
New York, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Plastics for Composites Market Size, Share, Demand, Industry Trends and Forecast to 2028- COVID-19 Impact and Global Analysis By Type [Thermoset (Polyester, Vinyl Ester, Epoxy, Polyurethane, and Others) and Thermoplastic (Polypropylene, Polyethylene, Polyvinylchloride, Polystyrene, Polyethylene Terephthalate, Polycarbonate, and Others)] and Technology (Injection Molding, Compression Molding, Pultrusion, Resin Infusion, and Others)” A surge in demand for composites from end-use industries such as aerospace, automobile, and construction is propelling the plastics for composites market growth.
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Global Plastics for Composites Market Report Scope, Segmentations, Regional & Country Scope:
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
Global Plastics for Composites Market Forecast to 2028 - Latest COVID-19 Analysis
https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00029802/
Composite materials are made by combining two different materials having unique properties to achieve the best properties suitable for various applications. Polymer matrix composite is one of the various types of composite materials. As composite material is made by adding two phases—matrix and reinforcement fibers—in polymer matrix composites, polymers are included in a matrix phase and the other suitable materials are taken in the form of small fiber particles. Thermoset resins are the most widely used polymers in polymer matrix composites (PMCs).
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Plastics for Composites: Competitive Landscape and Key Developments
The key players operating in the global plastics for composites market include Lanxess AG, Covestro AG, Celanese Corp, INEOS Group Holdings SA, Daicel Corp, BASF SE, Evonik Industries AG, Solvay SA, Saudi Basic Industries Corp, and Arkema SA. Players operating in the Plastics for Composites market are focusing on providing high-quality products to fulfill customer demand. Also, players are focusing on strategies such as new product launches, partnerships, mergers & acquisitions, and expansion to remain competitive in the market.
Impact of COVID-19 Pandemic on Plastics for Composites Market
The COVID-19 pandemic adversely affected the plastics for composites market growth in 2020 due to the shutdown of manufacturing facilities, and restrictions imposed on transportation and logistics. Disruptions in supply chains also hampered the supply of plastics for composites. To comply with national and regional guidelines, manufacturers introduced extensive modifications to their operations to protect their employees from the SARS-CoV-2 infection. The pandemic wreaked havoc on the historically stable plastic resin industry. The shortage of manpower resulted in the deceleration of plastic production and distribution operations. Disruptions in the global supply chain, increased demand for plastic packaging materials, and shutdown of plastic production facilities, synergistically, led to a severe spike in the prices of plastic goods. Lockdowns imposed by different countries in 2020 hampered the ability of industries to maintain inventory levels. Moreover, sanitary measures and other COVID-19 precautions reduced production capacity significantly, creating a shortage of polyethylene (PE) and polypropylene (PP) inventory. Despite these ill effects on end-use industries, the plastic for composites market began reviving in late 2020 due to relaxations introduced by countries in social restrictions and significant measures taken, e.g., well-coordinated vaccination drives, to fight back. The recovery of various end-use industries is driving the plastics for composites market growth in the post-pandemic recovery period.
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Plastics for Composites Market: Segmental Overview
Based on type, the plastics for composites market is segmented into thermoset (polyester, vinyl ester, epoxy, polyurethane, and others) and thermoplastic (polypropylene, polyethylene, polyvinyl chloride, polystyrene, polyethylene terephthalate, polycarbonate, and others). The thermoset segment held a larger share of the market in 2021. Thermoset is a popular polymer matrix material for fiber-reinforced composites. Common examples of thermosets include epoxies and polyesters. They are among the major types of matrix systems, specifically used in the aerospace industry. Thermoset matrix composites are more extensively used than thermoplastic matrix composites due to their lower viscosity at relatively low temperatures (less than 100°C), which better facilitates the resin/fiber wetting process. These factors are expected to drive the growth of the market for thermoset matrix components.
The plastics for composites market is segmented into five main regions—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa, and South & Central America. In 2021, Asia Pacific dominated the global market and is expected to register the highest CAGR during the forecast period. The flourishment of construction, wind power, electronics, and automotive industries is creating favorable business opportunities for the plastics for composites market players to grow in this region.
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The "Plastics for Composites Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry, focusing on the plastics for composites market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The plastics for composites market is segmented on the basis of type, technology, and geography. Based on the type, the market is segmented into thermoset (polyester, vinyl ester, epoxy, polyurethane, and others) and thermoplastic (polypropylene, polyethylene, polyvinyl chloride, polystyrene, polyethylene terephthalate, polycarbonate, and others). Based on technology, the market is segmented into injection molding, compression molding, pultrusion, resin infusion, and others. In terms of geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, Asia Pacific dominated the plastics for composites market. The region is expected to register the highest CAGR in the market during the forecast period.
Plastics for Electric Vehicle Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Plastic Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), Polyvinyl Butyral, Polyurethane (PU), Polypropylene (PP), and Others), Component (Dashboard, Seats, Interior Trim, Car Upholstery, Bumper, and Others), Vehicle Type (BEV and PHEV/HEV), and Application (Powertrain System/Under Bonnet, Exterior, Interior, and Lighting and Electric Wiring)
Molded Plastics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Technology (Blow Molding, Injection Molding, Extrusion Molding, Rotational Molding, Thermoforming); Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyethylene Terephthalate, Polystyrene, Polyurethane, Others); Application (Packaging, Automotive and Transportation, Construction and Infrastructure, Agriculture, Pharmaceutical, Electronics and Electrical, Others) and Geography
Compostable Plastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (PLA, Starch Blends, Biodegradable Polyesters, PHA, Others); Application (Packaging And Bags, Consumer Goods, Agriculture And Horticulture, Textile, Others) and Geography
Rigid Transparent Plastics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Polymer Type (Polypropylene (PP), Polycarbonate (PC), Polystyrene (PS), Polyvinyl Chloride (PVC), Acrylonitrile Butadiene Styrene (ABS), Styrene Block Copolymers (SBC), Others); End-Use Industry (Packaging, Medical, Electrical and Electronics, Automotive and Transportation, Buildings and Construction, Others) and Geography
Medical Plastics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Standard Plastics, Engineering Plastics, High Performance Plastics (HPP), Silicone, and Others), Application (Medical Disposables, Prosthetics, Medical Instruments and Tools, Drug Delivery, and Others), and Geography
Thermosetting Plastics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Material Type (Amines, Aliphatic, Aromatics, Epoxies, Phenolic, Polyesters, Silicon); Moulding Process (Compression Moulding, Extrusion Moulding, Reactive Injection Moulding, Spin Casting); Application (Adhesives, Aerospace, Automobiles, Consumer Electronics, Safety Equipment, and Synthetic Fibres) and Geography
Foam Plastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Polyurethane (PU), Polystyrene (PS), Polyolefin (PO), Phenolic, Others); End-Use Industry (Building and Construction, Packaging, Automotive, Furniture and Bedding, Others) and Geography
Building and Construction Plastics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product (Polyurethanes, Polyethylene, Polystyrene, Polyvinyl Chloride, and Others), Application (Windows, Wall Coverings, Pipes & Ducts, Insulation, Roofing, and Others), and Geography
Injection Molded Plastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Raw Material (Polypropylene, ABS, HDPE, Polystyrene); Application (Packaging, Automotive and Transportation, Electronics, Medical) and Geography
Thermoplastic Composites Market to 2028 - Global Analysis and Forecasts by Resin Type (Polyamide (PA), Polypropylene (PP), Polyetheretherketone (PEEK), Hybrid, Others); Fiber Type (Glass, Carbon, Mineral, Others); Application (Consumer Goods and Electronics, Aerospace and Defense, Sports and Leisure, Construction, Wind Energy, Medical, Others) and Geography
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