The South America plastics for composites market is expected to grow from US$ 644.92 million in 2022 to US$ 778.23 million by 2028; it is estimated to grow at a CAGR of 3.2% 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. 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 composites market growth.
South America Plastics for Composites Market Overview
The plastics for composites market growth in Brazil and Argentina is attributed to the surging urbanization and the increasing number of construction projects. Furthermore, the governments of various countries in South & Central America are focusing on developing infrastructure projects, which is expected to boost the demand for composites in the construction industry during the forecast period. The noticeable presence of automotive companies in Brazil and Argentina is propelling the sales of composites in the region. Also, the sale of consumer electronics is growing in the region, owing to the changing consumer behavior, rising internet penetration, and rapid technological advancements. Moreover, the increasing presence of global and regional market players, coupled with growing research and development activities in the composites market, is expected to create immense opportunities for the plastics for composites market during the forecast period.
South America Plastics for Composites Market Revenue and Forecast to 2028 (US$ Million)
South America Plastics for Composites Market Segmentation
The South America plastics for composites market is segmented based on type, technology, and country. Based on type, the South 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 South America plastics for composites market is segmented into injection molding, compression molding, pultrusion, resin infusion, and others. The others segment held the largest market share in 2022.
Based on country, the South America plastics for composites market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market share in 2022.
Lanxess AG; Convestro AG; Celanese Corp; INEOS Group Holdings SA; Basf SE; Evonik Industries AG; Solvay SA; Saudi Basic Industries Corp; and Arkema SA are the leading companies operating in the South America plastics for composites market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 644.92 Million |
| Market Size by 2028 | US$ 778.23 Million |
| CAGR (2022 - 2028) | 3.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Plastics for Composites Market is valued at US$ 644.92 Million in 2022, it is projected to reach US$ 778.23 Million by 2028.
As per our report South America Plastics for Composites Market, the market size is valued at US$ 644.92 Million in 2022, projecting it to reach US$ 778.23 Million by 2028. This translates to a CAGR of approximately 3.2% during the forecast period.
The South America Plastics for Composites Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Plastics for Composites Market report:
The South America Plastics for Composites Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Plastics for Composites Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Plastics for Composites Market value chain can benefit from the information contained in a comprehensive market report.
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