The “RV Composite Panels Market” report detailing growth and opportunity from 2019 to 2024 has been added to www.ResearchAndMarkets.com’s offerings.
It is estimated that the RV composite panels market will reach an estimated value of $554 million in 2024.
This comprehensive report on the composite panels market for RVs analyzes the current market realities, trends took place over the past five years, changing competitive landscapes, disruption in technologies, and future market possibilities in order to accurately forecast the market for the period of 2019 to 2024 in terms of both value as well as volume.
RV composite panels market continued its disruptive journey in 2018. The next five years for the market are going to be more vigorous with attractive growth opportunities in the entire ecosystem of the market. Organic growth in the production of RVs supported by growing outdoor participation activities and conversion of tent participants to RV enthusiasts is the prime growth driver of the market.
An incessant shift from traditional wood panels to composite panels in RV is aiding additional growth in the market, ultimately driving the segment to grow at an above-industry growth rate in the foreseeable future.
Weight reduction is the key requirement of RV OEMs. Although the price of composite panels is higher, these panels are marking greater penetration in the industry as OEMs are gradually abolishing wood panels for sidewalls and floors, which are prone to damage or moisture intrusion, according to the report.
Based on the application type, the market in RVs is segmented as sidewall panel, slide-out panel, roof panel, and floor panel. Sidewall panel is expected to remain the most dominant application in the market over the next five years, whereas floor panel is likely to be the fastest-growing application during the same period, according to the report. There are different materials and designs of panels for different applications in RVs.
The market also is segmented based on the resin type as polyester composite panels, epoxy composite panels, and other composite panels. Polyester composite panel is expected to remain the largest segment during the forecast period. Polyester resin has the lowest cost and offers good properties including impressive linear thermal expansion and relatively low shrinkages, which make it best fit for producing recreational vehicle composite panels. Epoxy resin is a preferred choice for some floor and roof panel applications.
Europe also is likely to offer sizeable growth opportunities during the forecast period. Germany is likely to remain the largest and fastest-growing market in the European region during the same period.