Fiber-reinforced Polymer Composites Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Product Type ; By Application ; By Region

Description

Global Fiber-reinforced Polymer (FRP) Composites Market Size Booming to Touch USD 385.79 Billion by 2029.

Global fiber-reinforced polymer (FRP) composites market is gaining traction because of the growing demand from aerospace and defense industries and increasing applications in automotive sector.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global fiber-reinforced polymer (FRP) composites market size at USD 238.7 billion in 2022. During the forecast period between 2023 and 2029, the global fiber-reinforced polymer (FRP) composites market size is projected to grow at an impressive CAGR of 7.21% reaching a value of USD 385.79 billion by 2029. Expanding automotive and consumer electronics manufacturing in nations like China and India is one of the key driving reasons for the global fiber-reinforced polymer (FRP) composites industry. Government spending on infrastructure development is also contributing to the growth in the market for FRP composites.

Global Fiber-reinforced Polymer (FRP) Composites Market - Overview:

Fiber-reinforced Polymer (FRP) is a composite material composed of a polymer matrix reinforced with fibers. The most common fibers used are glass, carbon, or aramid, although other fibers, such as paper, wood, or asbestos, have occasionally been utilized. Fibers and a polymer matrix are the two main building blocks of FRP composite materials. FRP enables the alignment of thermoplastics' glass fibers to meet specified design objectives. The strength and resistance to deformation of the polymer can be increased by specifying the orientation of the reinforcing fibers.

Global Fiber-reinforced Polymer (FRP) Composites Market - By Application:

Based on application, the global fiber-reinforced polymer (FRP) Composites market is segmented into automotive, construction, firefighting, electronics, defense, and others. The construction sector accounts for the largest market share, as these materials offer a wide range of applications in this industry. Fiber-reinforced polymers are prominently used as reinforcements in concrete structures and underwater piping to prevent corrosion and impact. The automotive industry also covers a substantial market share owing to expanding automobile production, particularly in China and India, as they are used for the production of low-cost and light automobile parts.

Impact of COVID-19 on the Global Fiber-reinforced Polymer (FRP) Composites Market:

The COVID-19 pandemic negatively impacted the growth of the global fiber-reinforced polymer (FRP) composites market. The lockdown implemented by the governments of various economies to curb the spread of the virus halted the operations of the end user sectors, particularly in the construction and automobile industries. In addition, constraints on FRP composites' production processes and supply networks themselves resulted in a severe scarcity of supplies, even after the pandemic, forcing the producers to suffer significant losses. However, the market is projected to pick up its pace during the forecast period as industries resume their operations.

Competitive Landscape:

Major players operating in the global fiber-reinforced polymer (FRP) Composites market include: 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., SGL Group, and DowAksa. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Fiber-reinforced Polymer (FRP) Composites Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Fiber-reinforced Polymer (FRP) Composites Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23586

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Fiber-reinforced Polymer (FRP) Composites Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Growing Demand from Aerospace and Defense Industries
  - 3.2.1.2. Increasing Applications in Automotive Sector
- 3.2.2. Restraints
  - 3.2.2.1. Higher Upfront Costs
  - 3.2.2.2. Limited Recycling Options
- 3.2.3. Opportunity
  - 3.2.3.1. Expanding Wind Energy Sector
  - 3.2.3.2. Emerging Markets and Potential for Market Penetration
- 3.2.4. Challenges
  - 3.2.4.1. Environmental Impact and Sustainability Concerns
  - 3.2.4.2. Complex Manufacturing Processes and Quality Control
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Fiber-reinforced Polymer (FRP) Composites Market Overview

4.1. Market Size & Forecast by Value, 2019-2029
- 4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
- 4.2.1. By Product Type
  - 4.2.1.1. Glass Fiber Reinforced Polymer (GFRP) Composites
  - 4.2.1.2. Carbon Fiber Reinforced Polymer (CFRP) Composites
  - 4.2.1.3. Basalt Fiber Reinforced Polymer (BFRP) Composites
  - 4.2.1.4. Aramid Fiber Reinforced Polymer (AFRP) Composites
  - 4.2.1.5. Others
- 4.2.2. By Application
  - 4.2.2.1. Automotive
  - 4.2.2.2. Construction
  - 4.2.2.3. Fire Fighting
  - 4.2.2.4. Electronic
  - 4.2.2.5. Defense
  - 4.2.2.6. Others
- 4.2.3. By Region
  - 4.2.3.1. North America
  - 4.2.3.2. Europe
  - 4.2.3.3. Asia Pacific
  - 4.2.3.4. Latin America
  - 4.2.3.5. Middle East and Africa

5. North America Fiber-reinforced Polymer (FRP) Composites Market

5.1. Market Size & Forecast by Value, 2019-2029
- 5.1.1. By Value (USD Billion)
5.2. Market Share & Forecast
- 5.2.1. By Product Type
- 5.2.2. By Application
- 5.2.3. By Country
  - 5.2.3.1. United States
  - 5.2.3.1.1. By Product Type
  - 5.2.3.1.2. By Application
  - 5.2.3.2. Canada
  - 5.2.3.2.1. By Product Type
  - 5.2.3.2.2. By Application

6. Europe Fiber-reinforced Polymer (FRP) Composites Market

6.1. Market Size & Forecast by Value, 2019-2029
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Application
- 6.2.3. By Country
  - 6.2.3.1. Germany
  - 6.2.3.1.1. By Product Type
  - 6.2.3.1.2. By Application
  - 6.2.3.2. United Kingdom
  - 6.2.3.2.1. By Product Type
  - 6.2.3.2.2. By Application
  - 6.2.3.3. Italy
  - 6.2.3.3.1. By Product Type
  - 6.2.3.3.2. By Application
  - 6.2.3.4. France
  - 6.2.3.4.1. By Product Type
  - 6.2.3.4.2. By Application
  - 6.2.3.5. Spain
  - 6.2.3.5.1. By Product Type
  - 6.2.3.5.2. By Application
  - 6.2.3.6. Belgium
  - 6.2.3.6.1. By Product Type
  - 6.2.3.6.2. By Application
  - 6.2.3.7. Russia
  - 6.2.3.7.1. By Product Type
  - 6.2.3.7.2. By Application
  - 6.2.3.8. The Netherlands
  - 6.2.3.8.1. By Product Type
  - 6.2.3.8.2. By Application
  - 6.2.3.9. Rest of Europe
  - 6.2.3.9.1. By Product Type
  - 6.2.3.9.2. By Application

7. Asia Pacific Fiber-reinforced Polymer (FRP) Composites Market

7.1. Market Size & Forecast by Value, 2019-2029
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Application
- 7.2.3. By Country
  - 7.2.3.1. China
  - 7.2.3.1.1. By Product Type
  - 7.2.3.1.2. By Application
  - 7.2.3.2. India
  - 7.2.3.2.1. By Product Type
  - 7.2.3.2.2. By Application
  - 7.2.3.3. Japan
  - 7.2.3.3.1. By Product Type
  - 7.2.3.3.2. By Application
  - 7.2.3.4. South Korea
  - 7.2.3.4.1. By Product Type
  - 7.2.3.4.2. By Application
  - 7.2.3.5. Australia & New Zealand
  - 7.2.3.5.1. By Product Type
  - 7.2.3.5.2. By Application
  - 7.2.3.6. Indonesia
  - 7.2.3.6.1. By Product Type
  - 7.2.3.6.2. By Application
  - 7.2.3.7. Malaysia
  - 7.2.3.7.1. By Product Type
  - 7.2.3.7.2. By Application
  - 7.2.3.8. Singapore
  - 7.2.3.8.1. By Product Type
  - 7.2.3.8.2. By Application
  - 7.2.3.9. Vietnam
  - 7.2.3.9.1. By Product Type
  - 7.2.3.9.2. By Application
  - 7.2.3.10. Rest of Asia Pacific
  - 7.2.3.10.1. By Product Type
  - 7.2.3.10.2. By Application

8. Latin America Fiber-reinforced Polymer (FRP) Composites Market

8.1. Market Size & Forecast by Value, 2019-2029
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Application
- 8.2.3. By Country
  - 8.2.3.1. Brazil
  - 8.2.3.1.1. By Product Type
  - 8.2.3.1.2. By Application
  - 8.2.3.2. Argentina
  - 8.2.3.2.1. By Product Type
  - 8.2.3.2.2. By Application
  - 8.2.3.3. Peru
  - 8.2.3.3.1. By Product Type
  - 8.2.3.3.2. By Application
  - 8.2.3.4. Rest of Latin America
  - 8.2.3.4.1. By Product Type
  - 8.2.3.4.2. By Application

9. Middle East & Africa Fiber-reinforced Polymer (FRP) Composites Market

9.1. Market Size & Forecast by Value, 2019-2029
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Application
- 9.2.3. By Country
  - 9.2.3.1. Saudi Arabia
  - 9.2.3.1.1. By Product Type
  - 9.2.3.1.2. By Application
  - 9.2.3.2. UAE
  - 9.2.3.2.1. By Product Type
  - 9.2.3.2.2. By Application
  - 9.2.3.3. Qatar
  - 9.2.3.3.1. By Product Type
  - 9.2.3.3.2. By Application
  - 9.2.3.4. Kuwait
  - 9.2.3.4.1. By Product Type
  - 9.2.3.4.2. By Application
  - 9.2.3.5. South Africa
  - 9.2.3.5.1. By Product Type
  - 9.2.3.5.2. By Application
  - 9.2.3.6. Nigeria
  - 9.2.3.6.1. By Product Type
  - 9.2.3.6.2. By Application
  - 9.2.3.7. Algeria
  - 9.2.3.7.1. By Product Type
  - 9.2.3.7.2. By Application
  - 9.2.3.8. Rest of Middle East & Africa
  - 9.2.3.8.1. By Product Type
  - 9.2.3.8.2. By Application

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Fiber-reinforced Polymer (FRP) Composites Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Fiber-reinforced Polymer (FRP) Composites Market

12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

12.1. American Fiberglass Rebar
12.2. American Grating, LLC
12.3. Engineered Composites Ltd
12.4. B&B FRP Manufacturing INC.
12.5. TUF-BAR
12.6. FRP Composites Inc.
12.7. Ten Cate NV
12.8. Zoltek Companies, Inc.
12.9. Hyosung Corporation
12.10. Mitsubishi Rayon Co., Ltd.
12.11. SGL Group
12.12. DowAksa
12.13. Other Prominent Companies

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumption & Limitation