Global Reinforced Plastics Market to Reach US$15.82 bn by 2019, Driven by High Demand from Automotive Industry
A report published by Transparency Market Research (TMR), titled “ Reinforced Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 ” pegs the value of the global reinforced plastics market at US$8.42 bn in 2012. Rising at a positive CAGR of 7.6% between 2013 and 2019, the market is anticipated to reach US$15.82 bn by the end of the forecast period. The demand for reinforced plastics is gradually rising due to the growing construction activities and robust growth witnessed in automotive manufacturing. The increasing application of reinforced plastics in the aerospace and aviation sectors will further bolster demand for the same. Despite volatility in raw material prices creating a bottleneck for the reinforced plastics market, the industry will capitalize on the rising demand from the wind energy sector. The demand for reinforced plastics, therefore, is poised to exponentially increase in the near future. View Exclusive G...