Fiber Reinforced Polymer (FRP) Composites Market is estimated to reach USD 282.9 billion by 2025. A fiber reinforced polymer (FRP) composite material, as the name suggests, implies reinforcing fibers in a polymer constituent or matrix. These fibers could be mat, fabric, or components. The key features associated with fiber reinforced polymer products including flexibility, strength, low cost, and conductivity are estimated to drive the market growth in the upcoming period.
The factors that propel the growth of the FRP Composites Market comprise the low cost of FRP composite, increasing production capacity of FRP composite, and growth in the automotive sector. On the other hand, the factors that may hamper the growth of the market include high production cost of FRP composite. Fiber Reinforced Polymer (FRP) Composites Market is anticipated to grow at a significant CAGR of 10.7% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Full Research Report On Global Fiber Reinforced Polymer (FRP) Composites Market Analysis available at: https://www.millioninsights.com/industry-reports/fiber-reinforced-polymer-frp-composites-market
Fiber Reinforced Polymer (FRP) Composites Market may be explored by type, application, and geography. The market may be explored by type as Carbon Fiber Reinforced Polymer (CFRP) Composites, Glass Fiber Reinforced Polymer (GFRP) Composites, Aramid Fiber Reinforced Polymer (AFRP) Composites, Basalt Fiber Reinforced Polymer (BFRP) Composites, and Others. The “Glass Fiber Reinforced Polymer (GFRP) Composites” segment dominated the Fiber Reinforced Polymer Composites Market in 2016 and is anticipated to maintain its dominance in the forecast period.
The market may be explored by application as Construction, Automotive, Defense, Electronic, and Others. The “Automotive” segment dominated the Fiber Reinforced Polymer (FRP) Composites Market in 2016 and is anticipated to maintain its dominance by 2025 due to numerous advantages such as improved mechanical features such as enhanced surface finish of molded parts, flexibility, & density, and strength stiffness, and low cost & weight
North America accounted for the major share of the Fiber Reinforced Polymer (FRP) Composites Market Size in 2016 and will continue to lead in the forthcoming period. The factors that could be attributed to the growth include easy availability of raw materials, increased demand from recreational vehicles, new plant establishment, increasing manufacturing industries, low labor costs, new product developments. North America is followed by Europe in the forecast period.
The key players that fuel the growth of the Fiber Reinforced Polymer (FRP) Composites Market comprise B&B FRP Manufacturing Inc., American Grating, LLC, Mitsubishi Rayon Co., Ltd., American Fiberglass Rebar, Engineered Composites Ltd, TUF-BAR; Ten Cate NV, Hyosung Corporation, Zoltek Companies, Inc., FRP Composites Inc., DowAksa, and SGL Group. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
Fiber Type Outlook (Volume, Kilotons; Revenue, USD Million; 2014 – 2025)
• 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
Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 – 2025)
• Automotive
• Construction
• Electronic
• Defense
• Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 – 2025)
• North America
• U.S.
• Europe
• UK
• Germany
• Italy
• Asia Pacific
• China
• Japan
• India
• Central & South America
• Brazil
• Middle East & Africa
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/advanced-materials
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