North America Plastics for Composites Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Thermoset (Polyester, Vinyl Ester, Epoxy, Polyurethane, and Others) and Thermoplastic (Polypropylene, Polyethylene, Polyvinylchloride, Polystyrene, Polyethylene Terephthalate, Polycarbonate, and Others)] and Technology (Injection Molding, Compression Molding, Pultrusion, Resin Infusion, and Others)
The North America plastics for composites market is expected to grow from US$ 6,692.57 million in 2022 to US$ 8,521.59 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2022 to 2028.
Flourishment of Construction Industry
The demand for construction composites is increasing with a rise in the use of technologically advanced processes in construction activities. In November 2021, the US government approved a US$ 1.2 trillion infrastructure bill as aid to federal investments in a wide range of infrastructure projects; this is expected to generate the demand for construction services, equipment, and materials. As a result, construction spending is expected to increase by 5.5% in 2023. Composite materials, particularly fiber-reinforced polymer (FRP) composites, contribute to a lower construction cost, as much less material can be used without sacrificing structural stability. FRP composites are created by the reinforcement of plastic polymer resins with the integration of fibers with high mechanical strength. The resin matrix in composite mainly distributes loads among the fibers, thus aiding protection along with providing strength and stiffness to the composite materials. Composites are widely used in the production of building products such as windows, doors, siding, fencing, roofing, and decks. Thus, the continuous proliferation of the construction industry is creating demand for plastic-based composites, subsequently bolstering the plastics for North America plastics for composites market growth.
North America Plastics for Composites Market Overview
The US, Canada, and Mexico are key economies in North America. The region holds an extensive growth opportunity for the composites market players due to the growing utilization of composites by its end-use industries, including automotive, construction, aerospace, and electronics. The composites are utilized in various interior, exterior, structural, and other applications. The construction sector in North America is witnessing growth due to a robust economy and increased federal and state financing for commercial and institutional structures in the region. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2021, North America registered vehicle production of 13.42 million. Due to the properties of composites such as noncorrosive, prefabrication capabilities, and design flexibility, they are increasingly preferred in bridge construction and renovations. Thus, the expansion of the construction sector is expected to fuel the regional composites market growth in the coming years.
North America plastics for composites Market Revenue and Forecast to 2028 (US$ Million)
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North America plastics for composites market Segmentation
The North America plastics for composites market is segmented based on type, technology, and country. Based on type, the North America plastics for composites market is bifurcated into thermoset and thermoplastic. The thermoset cylinders segment held a larger market share in 2022. Further, thermoset is segmented into polyester, vinyl ester, epoxy, polyurethane, and others. Further, thermoplastic is segmented into polypropylene, polyethylene, polyvinylchloride, polystyrene, polyethylene terephthalate, polycarbonate, and others.
Based on technology, the North America plastics for composites market is segmented into injection molding, compression molding, pultrusion, resin infusion, and others. The compression molding segment held the largest market share in 2022.
Based on country, the North America plastics for composites market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Lanxess AG; Convestro AG; Celanese Corp; INEOS Group Holdings SA; Daicel Corp; Basf SE; Evonik Industries AG; Solvay SA; Saudi Basic Industries Corp; and Arkema SA are the leading companies operating in the North America plastics for composites market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Plastics for Composites Market, by Type
1.3.2 North America Plastics for Composites Market, by Technology
1.3.3 North America Plastics for Composites Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Plastics for Composites Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Plastics for Composites Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Lightweight Materials in Aerospace and Automotive Industries
5.1.2 Flourishment of Construction Industry
5.2 Market Restraints
5.2.1 Issues Related to Recycling of Thermoset Plastics
5.3 Market Opportunities
5.3.1 Applications of Plastic-Based Composites in Wind Energy Sector
5.4 Future Trends
5.4.1 Application of Bio-Based Plastics for Composites
5.5 Impact Analysis
6. Plastics for Composites – North America Market Analysis
6.1 North America Plastics for Composites Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Plastics for Composites Market Analysis – By Type
7.1 Overview
7.2 Plastics for Composites Market, By Type (2021 and 2028)
7.3 Thermoset
7.3.1 Overview
7.3.2 Thermoset: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 Polyester
7.3.3.1 Overview
7.3.3.2 Polyester: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.3.4 Vinyl Ester
7.3.4.1 Overview
7.3.4.2 Vinyl Ester: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.3.5 Epoxy
7.3.5.1 Overview
7.3.5.2 Epoxy: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.3.6 Polyurethane
7.3.6.1 Overview
7.3.6.2 Polyurethane: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.3.7 Others
7.3.7.1 Overview
7.3.7.2 Others: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Thermoplastic
7.4.1 Overview
7.4.2 Thermoplastic: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.3 Polypropylene
7.4.3.1 Overview
7.4.3.2 Polypropylene: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.4 Polyethylene
7.4.4.1 Overview
7.4.4.2 Polyethylene: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.5 Polyvinylchloride
7.4.5.1 Overview
7.4.5.2 Polyvinylchloride: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.6 Polystyrene
7.4.6.1 Overview
7.4.6.2 Polystyrene: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.7 Polyethylene Terephthalate
7.4.7.1 Overview
7.4.7.2 Polyethylene Terephthalate: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.8 Polycarbonate
7.4.8.1 Overview
7.4.8.2 Polycarbonate: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
7.4.9 Others
7.4.9.1 Overview
7.4.9.2 Others: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Plastics for Composites Market Analysis – By Technology
8.1 Overview
8.2 Plastics for Composites Market, By Technology (2021 and 2028)
8.3 Injection Molding
8.3.1 Overview
8.3.2 Injection Molding: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Compression Molding
8.4.1 Overview
8.4.2 Compression Molding: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Pultrusion
8.5.1 Overview
8.5.2 Pultrusion: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Resin Infusion
8.6.1 Overview
8.6.2 Resin Infusion: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Plastics for Composites Market – by Country Analysis
9.1 North America: Plastics for Composites Market
9.1.1 North America: Plastics for Composites Market, by Key Country
9.1.1.1 US: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Plastics for Composites Market, By Type
9.1.1.1.2 US: Plastics for Composites Market, By Technology
9.1.1.2 Canada: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Plastics for Composites Market, By Type
9.1.1.2.2 Canada: Plastics for Composites Market, By Technology
9.1.1.3 Mexico: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Plastics for Composites Market, By Type
9.1.1.3.2 Mexico: Plastics for Composites Market, By Technology
10. Industry Landscape
10.1 Product Launch
10.2 Expansion
10.3 Partnership
10.4 Mergers and Acquisitions
11. Company Profiles
11.1 Lanxess AG
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Covestro AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Celanese Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 INEOS Group Holdings SA
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Daicel Corp
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 BASF SE
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Evonik Industries AG
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Solvay SA
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Saudi Basic Industries Corp
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Arkema SA
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Plastics for Composites Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Plastics for Composites Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Plastics for Composites Market, Technology – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada Plastics for Composites Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Plastics for Composites Market, By Technology – Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Plastics for Composites Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Plastics for Composites Market, By Technology – Revenue and Forecast to 2028 (US$ Million)
Table 8. Glossary of Terms, Global Plastics for Composites Market
LIST OF FIGURES
Figure 1. North America Plastics for Composites Market Segmentation
Figure 2. North America Plastics for Composites Market Segmentation – By Country
Figure 3. North America Plastics for Composites Market Overview
Figure 4. North America Plastics for Composites Market, By Type
Figure 5. North America Plastics for Composites Market, by Country
Figure 6. North America Porter's Five Forces Analysis
Figure 7. North America Ecosystem: Plastics for Composites Market
Figure 8. North America Expert Opinion
Figure 9. North America Plastics for Composites Market Impact Analysis of Drivers and Restraints
Figure 10. North America Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Plastics for Composites Market Revenue Share, By Type (2021 and 2028)
Figure 12. Thermoset: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 13. Polyester: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. Vinyl Ester: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 15. Epoxy: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Polyurethane: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17. Others: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Thermoplastic: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. Polypropylene: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20. Polyethylene: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 21. Polyvinylchloride: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. Polystyrene: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 23. Polyethylene Terephthalate: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 24. Polycarbonate: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Others: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26. North America Plastics for Composites Market Revenue Share, By Technology (2021 and 2028)
Figure 27. Injection Molding: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 28. Compression Molding: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 29. Pultrusion: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 30. Resin Infusion: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 31. Others: North America Plastics for Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 32. North America: Plastics for Composites Market, by Key Country – Revenue (2021) (US$ Million)
Figure 33. North America: Plastics for Composites Market Revenue Share, by Key Country (2021 and 2028)
Figure 34. US: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Canada: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Mexico: Plastics for Composites Market – Revenue and Forecast to 2028 (US$ Million)
- Lanxess AG
- Convestro AG
- Celanese Corp
- INEOS Group Holdings SA
- Daicel Corp
- Basf SE
- Evonik Industries AG
- Solvay SA
- Saudi Basic Industries Corp
- Arkema SA
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America plastics for composites market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America plastics for composites market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America plastics for composites market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution