Analysis: Reinforced plastics worth $5.6bn

06 May 1999 21:48  [Source: ICIS news]

HOUSTON (CNI)--US reinforced plastics demand should grow at a rate of 3.3%/year to reach a value of $5.6bn (Euro5.3bn) in 2003, according to the latest report from The Freedonia Group released on Thursday.

The Cleveland, Ohio-based consulting firm forecasts demand will reach more than 1.8m tonne by 2003 with 1.27m of that demand being for resins and 544 464 tonne for reinforcement. Reinforced plastics' ability to displace metal or wood in established uses, or to create new ones, will spur the advances. Processing and resin advances will also drive demand by expanding capabilities and broadening market opportunities.

In its study called Reinforced Plastics, Freedonia predicted that unsaturated polyester and other thermoset resins will still dominate due to their low cost and "superior performance in diverse markets." But at the same time, reinforced thermoplastics will display better growth because of customer needs for higher performing products with broadened design parameters.

Reinforced thermoset demand, drive by increased use in underground storage tanks, boat hulls and motor vehicle components such as body panels, will grow more than 3%/year to 1.1m tonne in 2003. But, Freedonia warned, reinforced thermoplastics such as polypropylene, thermoplastic polyester and nylon will experience faster demand growth due to their amenability to design changes and good dimensional stability, rigidity and chemical and heat resistance.

Freedonia also predicted that construction and motor vehicles will remain the largest markets for reinforced plastic, together accounting for 61% of total demand.

By: Mary Ann Tawasha
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