Fiber-Reinforced Plastic Composites to 2017

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Date: 25-Oct-2013
No. of pages: 317
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This study analyzes the US fiber-reinforced plastic (FRP) composites industry. It presents historical demand data for 2002, 2007 and 2012, and forecasts for 2017 and 2022 by fiber (e.g., glass fibers, carbon fiber), product (e.g., polyester, epoxy, polypropylene, thermoplastic polyester, nylon, styrenics, polycarbonate) and market (e.g., construction, motor vehicles, electrical and electronic, marine). The study also considers market environment factors, details industry structure, evaluates company market share and profiles industry players.

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.

Company Profiles

Profiles 38 US industry competitors including AOC, Cytec and Hexcel

Additional Information

This study analyzes the US fiber-reinforced plastic composites industry. Historical (2002, 2007, and 2012) data and forecasts for the years 2017 and 2022 are presented by fiber, product, and market. Product types include composites formulated using thermosets (unsaturated polyester, epoxy, and others) and thermoplastics (nylon, polyester, polypropylene, styrenics, polycarbonate, and others). Principal markets include motor vehicles, construction, electrical and electronic, consumer durables, marine, and others.

As defined in this study, reinforced plastics are combinations of polymer resins and reinforcing fibers, including short fibers, chopped fibers, and fabric reinforcements. Data in this study include the weight of the basic resins, the reinforcing fibers, and other fillers or additives. Value data reflect the cost of the product at the fiber reinforcement stage. For example, for short fiberreinforced thermoplastics, demand would be the value of the compounded material, while for hand lay-up processes, the value of the composite component is counted. The term “demand” is used synonymously with “consumption” and equals production plus imports, minus exports. The words “fiber-reinforced plastic composites,” “reinforced plastics,” and “composites” are used synonymously. Both captive and merchant consumption are included in the data.

Fiber-Reinforced Plastic Composites to 2017

Table Of Contents

Introduction X

I. Executive Summary 1

II. Market Environment 4
General 4
Macroeconomic Outlook 5
Demographic Trends 8
Consumer Income & Spending 12
Construction Outlook 15
Residential Construction 18
Nonresidential Building Construction 21
Nonbuilding Construction 23
Manufacturing Outlook 25
Motor Vehicle Outlook 28
Electrical & 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. Fiber 54
General 54
Glass Fibers 58
Carbon & 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 & Vehicle Type 130
Construction 133
Resins 133
Applications 135
Bathroom Components 137
General Construction 140
Pipe 142
Panels 146
Tanks & Other 148
Electrical & Electronics 151
Resins 151
Applications 154
Electrical & Energy 155
Computer & Electronics 161
Consumer Durables 166
Resins 166
Applications 168
Appliances 169
Other Consumer Durables 171
Marine 174
Other Markets 178
Resins 179
Applications 180
Aircraft & Aerospace 181
All Other Markets 184

VI. Industry Structure 187
General 187
Industry Composition 189
Market Share 191
Mergers & Acquisitions 196
Marketing Strategies 200
Channels of Distribution 202
Research & Development 204
Competitive Strategies 206
Cooperative Agreements 208
Company Profiles 211
AGY Holding Corporation 212
Ameron International, see National Oilwell Varco AOC LLC 215
Ashland Incorporated 216
BASF SE 219
Berkshire Hathaway Incorporated 223
Bulk Molding Compounds, see Citadel Plastics Holdings CCP Composites US, see Total Celanese Corporation 225
Citadel Plastics Holdings Incorporated 229
Core Molding Technologies Incorporated 232
Crane Company 234
Cytec Industries Incorporated 238
DuPont (EI) de Nemours 242
ECM Plastics, see Schulman (A.) Ferro Corporation 245
Fiberspar, see National Oilwell Varco General Electric Company 247
Glasforms, see PolyOne Hadlock Plastics, see PremixHanwha Group 249
Hexcel Corporation 251
Huntsman Corporation 254
Interplastic Corporation 255
Johns Manville, see Berkshire Hathaway LM Wind Power Group 257
Matrixx Group, see Citadel Plastics Holdings Momentive Performance Materials Holdings LLC 258
National Oilwell Varco Incorporated 261
Owens Corning 264
Performance Materials, see Royal Ten Cate Plasan Carbon Composites Incorporated 268
PolyOne Corporation 269
PPG Industries Incorporated 272
Premix Incorporated 275
Quantum Composites, see Premix Reichhold Incorporated 278
Rogers Corporation 280
Royal DSM NV 281
Royal Ten Cate NV 285
RTP Company 289
SABIC Innovative Plastics, see Saudi Basic Industries Saudi Basic Industries Corporation 292
Schulman (A.) Incorporated 295
Strongwell Corporation 297
Styrolution Group, see BASF Teijin Limited 301
Ticona, see Celanese Toray Industries Incorporated 306
Total SA 309
TPI Composites Incorporated 311
Umeco, see Cytec Industries Zoltek Companies Incorporated 313
Other Companies Mentioned in the Study 315

List Of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 Macroeconomic Indicators 8
2 Population & 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 & Sales 31
10 Electrical & Electronic Equipment Shipments 36
11 Recreational Boat Shipments 38
12 Plastic Resin Supply & 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 & 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 & Vehicle Type 132
4 Construction Market for Fiber-Reinforced Plastic Composites by Resin 135
5 Construction Market for Fiber-Reinforced Plastic Composites by Application 136
6 Bathroom Components: Fiber-Reinforced Plastic Composites Demand 140
7 General Construction: Fiber-Reinforced Plastic Composites Demand 142
8 Pipe: Fiber-Reinforced Plastic Composites Demand 144
9 Panels: Fiber-Reinforced Plastic Composites Demand 148
10 Tanks & Other: Fiber-Reinforced Plastic Composites Demand 150
11 Electrical & Electronics Market for Fiber-Reinforced Plastic Composites by Resin 153
12 Electrical & Electronics Market for Fiber-Reinforced Plastic Composites by Application 155
13 Electrical & Energy: Fiber-Reinforced Plastic Composites Demand 156
14 Computer & Electronics: Fiber-Reinforced Plastic Composites Demand 162
15 Consumer Durables Market for Fiber-Reinforced Plastic Composites by Resin 168
16 Consumer Durables Market for Fiber-Reinforced Plastic Composites by Application 169
17 Appliances: Fiber-Reinforced Plastic Composites Demand 171
18 Other Consumer Durables: Fiber-Reinforced Plastic Composites Demand 174
19 Marine Market: Fiber-Reinforced Plastic Composites Demand 178
20 Other Markets for Fiber-Reinforced Plastic Composites by Resin 180
21 Other Markets for Fiber-Reinforced Plastic Composites by Application 181

Section VI -- Industry Structure
1 US Fiber-Reinforced Plastic Composites Industry Sales by Company, 2012 190
2 Selected Acquisitions & Divestitures 198
3 Selected Cooperative Agreements 210

List Of Charts

Section III -- Fibers
1 Fiber Materials Demand in Composites by Type: Volume & 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 137
4 Electrical & Electronics Market for Fiber-Reinforced Plastic Composites by Resin, 2012 154

Section VI -- Industry Structure
1 Fiber-Reinforced Plastic Composites Industry Flowchart 188
2 US Fiber-Reinforced Plastic Composites Market Leaders, 2012 192

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