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The demand for resins in North American reinforced plastics industry is expect to witness good growth between 2013 and 2018 and reach an estimated $4.6 billion in 2018.
North American reinforced plastics industry is expect to be fully recovered from the recession in next three years. The North America has strong proven track record for its high volume usage with automated processes coupled with good design and development expertise. Demand for thermoplastic resins is project to grow at above average rate through 2018, fuelled by their high performance, competitive cost, processing advantages over thermoset resins. Thermoset resin demand forecast to be driven by unsaturated polyester resin through 2018, reflecting renewed economic growth and the introduction of improved resins and processing techniques. Epoxy resin demand will grow at much slower pace due to slowdown in wind energy industry. Composite Insights, a global full service Custom & Syndicated Research firm, has conducted a comprehensive market analysis on the North American resin industry and presents its findings in “Opportunities for resins in North American reinforced plastics industry: 2013-2018”. Between 2007 and 2012 the demand for thermoset resins in North American reinforced plastics industry declined more than 3% per year in terms of volume shipments; whereas, demand for thermoplastic resins posted a little growth. Except aerospace and wind energy market segments, all other market segments have witnessed decline in resin consumption. As per the study, in 2012, the overall resin demand in North America experienced significant growth, followed by increased demand from wind energy, transportation, marine and construction segments. In 2012, demand for epoxy and polypropylene resins has increased in double digits; where as demand for unsaturated polyester resin has increased below average growth rate. The intelligence report, which includes market size estimates for 2007, 2011, 2012, 2013 and 2018 details industry key growth drivers, demand by various resins, market segments and manufacturing process. More information: www.compositeinsights.com