The global reinforced nonwoven plastics market is speculated to account for significant valuation over 2022 to 2028, driven by the increasing reinforcement of plastics with diverse fibers. The demand for these products is expected to come largely from large-scale industries like automotive, aerospace, building and construction, ships and boats, and others.
Nonwoven fibers in reinforced plastics boast ample benefits and applications, expanding their use across different economies. These advantages include lower processing costs of nonwoven fabrics and high fiber strength. Besides, these compounds are used in almost every type of advanced engineering structure, mainly owing to the rising demand for high-end quality products and increasing purchase parity.
In addition, a surge in environmental awareness and introduction to new policies, along with high community interest has resulted in the development of environment-friendly materials. This is expected to positively influence the market growth through 2028.
Given the reinforced plastic’s strong attributes like cost-effective, robust, and lightweight, the product is playing a significant role in the development and design of lightweight and fuel-efficient solutions for automobiles. Further, the growing sales of automobiles worldwide would add to the growth prospects of the reinforced nonwoven plastics market in the years to come.
Based on the product type, the fiber-reinforced nonwoven plastics segment would garner significant gains over the forthcoming years. Fiber-reinforced polymers are composites generally used in almost every kind of advanced engineering structure, with usage ranging from helicopters, aircraft, to boasts, ships, and automobiles. Moreover, these compounds are used in modern lightweight designs owing to their superior strength and stiffness.
Reinforced nonwoven plastics, particularly fiber-reinforced plastics, are usually utilized in the construction and building industry. These are also being utilized to retrofit current structures in an attempt to augment their load-bearing capacity and repair damage. Furthermore, the product is perceived to be ideal for building prefabricated houses, swimming pools, office furniture, and the production of highway structures like signboards, bridge decks, and drainage systems. Substantial growth in population and urbanization would further stimulate the segmental expansion over the forthcoming years.
Regionally, the Asia Pacific reinforced nonwoven plastics market would grow at a considerable pace over 2022 to 2028, influenced by the expanding urbanization and surging construction and real-estate sector in the Asian economies. This apart, the robust presence of automotive players in the continent would further augment the regional growth. In addition, ongoing innovations in the Asian economies and stringent environmental norms would enhance the market space.
Some of the eminent players operating in the overall reinforced nonwoven plastics market are FlexForm Technologies, DuPont, Trex company INC, Bcomp Ltd., Fiberon LLC (Fortune Brands Home), and others.
These players are relentlessly working towards the development of innovative products and engaged in mergers and acquisitions, partnerships, and more to fortify their position in the global market.
The COVID-19 pandemic has had a debilitating impact on the overall reinforced nonwoven plastics market, mainly due to the decline in the growth of construction, automotive, and other main industries. This can be reasoned to introduction to movement restrictions, lockdown norms, and a temporary halt in the production facilities by various central governments. However, with the economy getting back on track, the market space is projected to grow at a subtle pace in the years to come.