US Fiber-Reinforced Plastic Composites Market

  • October 2013
  • -
  • Freedonia
  • -
  • 317 pages

US demand to reach 4.3 billion pounds in 2017

US demand for fiber-reinforced plastic (FRP) composites is forecast to reach 4.3 billion pounds in 2017. Advances will rebound from the moderate declines experienced during the course of the recession-impacted 2007-2012 period, when opportunities were restricted by a steep drop in construction activity, reduced motor vehicle output, and the collapse of the recreational boating market. These markets are anticipated to register renewed growth as economic conditions improve. In addition, FRP composites will continue to supplant conventional materials such as aluminum and steel due to a number of performance advantages, including stiffness, light weight, and corrosion resistance, as well as greater design flexibility and improved part consolidation capabilities.

Glass fiber to remain dominant reinforcement material

Glass fiber is by far the leading reinforcement material used in the composites industry, benefiting from its low cost, high strength-to-weight ratio, good processability, and chemical resistance. However, much smaller volume types such as carbon and aramid fibers are forecast to achieve rapid gains based on rising requirements for higher performing materials, particularly in motor vehicle, aerospace, military, and industrial sectors.

Best growth prospects to be seen in motor vehicle & construction markets

Motor vehicles and construction represent the major outlets for FRP composites and will provide the best opportunities for growth through 2017, spurred by an improving outlook for vehicle output and a strong rebound in building construction activity. Together, these two markets will account for more than three-quarters of new demand for FRP composites through 2017. Ongoing efforts by automakers to enhance fuel efficiency will continue to drive composites demand, as vehicle weight reduction -- which represents a key strategy utilized by OEMs to boost fuel economy -- is often accomplished through the use of lightweight composite materials. Advances in the construction sector will be propelled by rapid spending gains in the residential sector, which will generate demand for a variety of products, including fiberglass bathroom components and entry doors.

Prospects will also be bright in the small aircraft and aerospace sector, driven by the expanding utilization of carbon fiber composites in the production of commercial airliners such as Boeing’s 787 DREAMLINER, which has more than 50 percent composite content. Rising consumer spending levels will bode well for composites used in the production of marine and consumer durable products.

Thermoset polyester, epoxy to lead market advances

Thermoset polyester is by far the leading resin in the FRP composites market, with demand stemming largely from its widespread use in construction applications, where it is favored for its low cost, durability, and corrosion resistance.

Although it remains a relatively small segment of the market for the foreseeable future, epoxy is forecast to see much faster growth, fueled by the rising use of carbon-epoxy composites, particularly in aerospace applications. Demand for thermoplastics such as nylon, thermoplastic polyester, and polypropylene will be fueled by these materials’ fast processability, cost competitiveness, and design flexibility. However, overall advances will be restrained by a lack of familiarity with thermoplastics among many composites producers and the need for alternative processing techniques.

Study coverage

This upcoming Freedonia industry study, Fiber-Reinforced Plastic Composites, is available for $5100. It presents historical demand data for 2002, 2007 and 2012, as well as forecasts for 2017 and 2022 by fiber, product and market. The study also assesses key market environment factors, details company market share and profiles 38 industry players.

Table Of Contents

TABLE OF CONTENTS

INTRODUCTION x

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Macroeconomic Outlook 5
Demographic Trends 8
Consumer Income and Spending 12
Construction Outlook 15
Residential Construction 18
Nonresidential Building Construction 21
Nonbuilding Construction 23
Manufacturing Outlook 25
Motor Vehicle Outlook 28
Electrical and Electronic Equipment Outlook 32
Recreational Boating Outlook 37
Plastic Resin Outlook 38
Competitive Materials 41
Processing Methods 43
Pricing Trends 45
Regulatory Factors 48
Recycling 50
International Activity 52

III. FIBERS 54

General 54
Glass Fibers 58
Carbon and Other Fibers 62
Carbon Fibers 63
Aramid Fibers 66
All Other 69

IV. PRODUCTS 72

General 72
Thermoset Composites 75
Polyester 76
Markets 80
Producers 83
Epoxy 85
Markets 86
Producers 88
Other Thermoset Composites 89
Thermoplastic Composites 91
Nylon 94
Markets 96
Producers 97
Thermoplastic Polyester 98
Markets 99
Producers 100
Polypropylene 102
Markets 103
Producers 104
Styrenics 106
Markets 107
Producers 109
Polycarbonate 109
Other Thermoplastic Composites 112

V. MARKETS 117

General 117
Motor Vehicles 120
Resins 121
Thermosets 124
Thermoplastics 126
Producers 128
Demand by Application and Vehicle Type 130
Construction 133
Resins 134
Applications 136
Bathroom Components 138
General Construction 141
Pipe 143
Panels 147
Tanks and Other 149
Electrical and Electronics 152
Resins 152
Applications 155
Electrical and Energy 156
Computer and Electronics 162
Consumer Durables 167
Resins 167
Applications 169
Appliances 170
Other Consumer Durables 172
Marine 175
Other Markets 179
Resins 180
Applications 181
Aircraft and Aerospace 182
All Other Markets 185

VI. INDUSTRY STRUCTURE 188

General 188
Industry Composition 190
Market Share 192
Mergers and Acquisitions 197
Marketing Strategies 201
Channels of Distribution 203
Research and Development 205
Competitive Strategies 207
Cooperative Agreements 209
Company Profiles 212
AGY Holding Corporation 213
Ameron International, see National Oilwell Varco
AOC LLC 216
Ashland Incorporated 217
BASF SE 220
Berkshire Hathaway Incorporated 224
Bulk Molding Compounds, see Citadel Plastics Holdings
CCP Composites US, see Total
Celanese Corporation 226
Citadel Plastics Holdings Incorporated 230
Core Molding Technologies Incorporated 233
Crane Company 235
Cytec Industries Incorporated 239
DuPont (EI) de Nemours 243
ECM Plastics, see Schulman (A.)
Ferro Corporation 246
Fiberspar, see National Oilwell Varco
General Electric Company 248
Glasforms, see PolyOne
Hadlock Plastics, see Premix
Hanwha Group 250
Hexcel Corporation 252
Huntsman Corporation 255
Interplastic Corporation 256
Johns Manville, see Berkshire Hathaway
LM Wind Power Group 258
Matrixx Group, see Citadel Plastics Holdings
Momentive Performance Materials Holdings LLC 259
National Oilwell Varco Incorporated 262
Owens Corning 265
Performance Materials, see Royal Ten Cate
Plasan Carbon Composites Incorporated 269
PolyOne Corporation 270
PPG Industries Incorporated 273
Premix Incorporated 276
Quantum Composites, see Premix
Reichhold Incorporated 279
Rogers Corporation 281
Royal DSM NV 282
Royal Ten Cate NV 286
RTP Company 290
SABIC Innovative Plastics, see Saudi Basic Industries
Saudi Basic Industries Corporation 293
Schulman (A.) Incorporated 296
Strongwell Corporation 299
Styrolution Group, see BASF
Teijin Limited 302
Ticona, see Celanese
Toray Industries Incorporated 307
Total SA 310
TPI Composites Incorporated 312
Umeco, see Cytec Industries
Zoltek Companies Incorporated 314
Other Companies Mentioned in the Study 316



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Indicators 8
2 Population and Households 12
3 Personal Consumption Expenditures 15
4 Construction Expenditures 18
5 Residential Building Construction Expenditures 20
6 Nonresidential Building Construction Expenditures 23
7 Nonbuilding Construction Expenditures 25
8 Manufacturers’ Shipments 28
9 Motor Vehicle Production and Sales 31
10 Electrical and Electronic Equipment Shipments 36
11 Recreational Boat Shipments 38
12 Plastic Resin Supply and Demand 41
13 Fiber-Reinforced Plastic Composites Pricing 48

SECTION III -- FIBERS

1 Fiber Materials Demand in Composites 56
2 Glass Fibers Demand in Composites 62
3 Carbon and Other Fibers Demand in Composites by Type 63

SECTION IV -- PRODUCTS

1 Fiber-Reinforced Plastic Composites Demand by Type 74
2 Thermoset Composites Demand by Resin 76
3 Thermoset Polyester Composites Demand by Market 79
4 Epoxy Composites Demand by Market 86
5 Other Thermoset Composites Demand by Market 91
6 Thermoplastic Composites Demand by Resin 93
7 Nylon Composites Demand by Market 95
8 Thermoplastic Polyester Composites Demand by Market 99
9 Polypropylene Composites Demand by Market 103
10 Styrenic Composites Demand by Market 107
11 Polycarbonate Composites Demand by Market 111
12 Other Thermoplastic Composites Demand by Market 116

SECTION V -- MARKETS

1 Fiber-Reinforced Plastic Composites Demand by Market 119
2 Motor Vehicle Market for Fiber-Reinforced Plastic Composites
by Resin 123
3 Motor Vehicle Market for Fiber-Reinforced Plastic Composites
by Application and Vehicle Type 133
4 Construction Market for Fiber-Reinforced Plastic Composites
by Resin 136
5 Construction Market for Fiber-Reinforced Plastic Composites
by Application 137
6 Bathroom Components: Fiber-Reinforced Plastic Composites
Demand 141
7 General Construction: Fiber-Reinforced Plastic Composites
Demand 143
8 Pipe: Fiber-Reinforced Plastic Composites Demand 145
9 Panels: Fiber-Reinforced Plastic Composites Demand 149
10 Tanks and Other: Fiber-Reinforced Plastic Composites Demand 151
11 Electrical and Electronics Market for Fiber-Reinforced Plastic
Composites by Resin 154
12 Electrical and Electronics Market for Fiber-Reinforced Plastic
Composites by Application 156
13 Electrical and Energy: Fiber-Reinforced Plastic Composites
Demand 157
14 Computer and Electronics: Fiber-Reinforced Plastic Composites
Demand 163
15 Consumer Durables Market for Fiber-Reinforced Plastic
Composites by Resin 169
16 Consumer Durables Market for Fiber-Reinforced Plastic
Composites by Application 170
17 Appliances: Fiber-Reinforced Plastic Composites Demand 172
18 Other Consumer Durables: Fiber-Reinforced Plastic
Composites Demand 175
19 Marine Market: Fiber-Reinforced Plastic Composites Demand 179
20 Other Markets for Fiber-Reinforced Plastic Composites
by Resin 181
21 Other Markets for Fiber-Reinforced Plastic Composites
by Application 182

SECTION VI -- INDUSTRY STRUCTURE

1 US Fiber-Reinforced Plastic Composites Industry Sales
by Company, 2012 191
2 Selected Acquisitions and Divestitures 199
3 Selected Cooperative Agreements 211



LIST OF CHARTS

SECTION III -- FIBERS

1 Fiber Materials Demand in Composites by Type:
Volume and Value, 2012 57

SECTION IV -- PRODUCTS

1 Fiber-Reinforced Plastic Composites Demand by Type, 2012 74
2 Thermoset Polyester Composites Demand by Market, 2012 80
3 Thermoplastic Composites Demand by Resin, 2012 94

SECTION V -- MARKETS

1 Fiber-Reinforced Plastic Composites Demand by Market,
2012 120
2 Motor Vehicle Market for Fiber-Reinforced Plastic Composites
by Resin, 2012 124
3 Construction Market for Fiber-Reinforced Composites
by Application, 2012 138
4 Electrical and Electronics Market for Fiber-Reinforced Plastic
Composites by Resin, 2012 155

SECTION VI -- INDUSTRY STRUCTURE

1 Fiber-Reinforced Plastic Composites Industry Flowchart 189
2 US Fiber-Reinforced Plastic Composites Market Leaders,
2012 193

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