The research study conducted by Report Ocean on the “ Fiber-reinforced Polymer Composites Market” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Fiber Reinforced Polymer (FRP) composites, also known as Fiber Reinforced Plastics, are a type of composite material made of a polymer matrix reinforced with fibers. They are designed to combine the high strength and stiffness of the fibers with the lightweight and corrosion-resistant properties of the polymer matrix. In FRP composites, the fibers provide the primary mechanical properties, while the polymer matrix holds the fibers together and transfers the loads between them. The most commonly used fibers in FRP composites are glass fibers, carbon fibers, and aramid fibers. Although other types of fibers can also be used depending on the specific application requirements. The key factor driving the market growth is rising demand from the construction sector and growing demand for energy efficiency in the aerospace and automotive industries. These factors are anticipated to create the lucrative demand for the market during forecast period 2023-2030.
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Moreover, the growing construction industry has played a significant role in supporting the growth of the Fiber-reinforced Polymer (FRP) Composites market. FRP composites are increasingly being used in various construction applications due to their superior properties and benefits over traditional materials such as steel and concrete. Thus, the growing construction industry is anticipated to support the market growth. According to Statista, in 2020, the size of global construction market was valued USD 6.4 trillion; in 2022 the value reached USD 8.2 trillion and it is anticipated to reach USD 10.3 trillion by 2025. Additionally, rising infrastructure investment is anticipated to create the lucrative growth opportunity for the market during the forecast period. However, the fluctuating raw material prices and environmental issues regarding the recyclability stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Fiber-reinforced Polymer (FRP) Composites Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the presence of key market players, growing construction and automotive industry is the region. Whereas, the Asia Pacific region is expected to grow at fastest growth rate during the forecast period, owing to factors such as the rising construction activities, growing demand in automotive industry, growing demand for the lightweight and high strength materials in various end use industries in the region.
Major market player included in this report are:
American Fiberglass Rebar
American Grating, LLC
Engineered Composites Ltd
B&B FRP Manufacturing INC.
TUF-BAR
FRP Composites Inc.
Ten Cate NV
Zoltek Companies, Inc.
Hyosung Corporation
Mitsubishi Rayon Co., Ltd.
Recent Developments in the Market:
In April 2022, SK ecoplant stated that it will establish a fibreglass rebar manufacturing line from a glass fibre reinforced polymer (GFRP) production line in collaboration with KCMT, a Korean GFRP producer. The entire factory will have 40,000 tonnes of annual manufacturing capacity by 2024, and 200,000 tonnes by 2027.
Global Fiber-reinforced Polymer (FRP) Composites Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Type:
Glass Fiber Reinforced Polymer (GFRP) Composites
Carbon Fiber Reinforced Polymer (CFRP) Composites
Basalt Fiber Reinforced Polymer (BFRP) Composites
Aramid Fiber Reinforced Polymer (AFRP) Composites
Others
By Application:
Automotive
Construction
Electronic
Defense
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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