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PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1681551

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PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1681551

Fiber Reinforced Plastic (FRP) Bridges Market: Current Analysis and Forecast (2024-2032)

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FRP bridges use high-strength fibers such as glass, carbon fibers, aramid, and basalt fibers combined with a polymer resin matrix. Their strong durability along with corrosion resistance capabilities, and ideal strength-weights ratio enables the appropriate use of these bridges under different traffic conditions. FRP bridges outperform steel and concrete bridges because they resist rusting and need small maintenance while retaining superior longevity, especially when exposed to harsh coastal conditions or severe temperature zones. These materials weigh less, which enhances installation speed while decreasing the final project costs. FRP bridges serve as important structures in accelerated bridge construction (ABC) operations, in the rehabilitation of outdated infrastructure, and in areas that cannot support heavy construction materials. Rising sustainable infrastructure spending and composite technology development have made FRP bridges the optimal solution for present-day low-maintenance budget-friendly bridge systems.

The Fiber Reinforced Plastic (FRP) Bridges Market is expected to grow with a significant CAGR of 6.5% during the forecast period (2024-2032). The Fiber Reinforced Plastic (FRP) bridges market is driven by the growing demand for strong bridge structures that can resist corrosion and require minimal maintenance. Conventional steel and concrete bridges experience degradation through environmental factors due to corrosion and fatigue that further results in huge repair expenses and reduced operational periods. Moreover, the Bipartisan Infrastructure Law (BIL) and growing government infrastructure investments drive the quick adoption of FRP bridges across the United States leading to its increased demand in the construction industry. The growing interest in accelerated bridge construction (ABC) methods increased the demand for FRP materials as these materials allow rapid prefabricated installations that create fewer road disruptions during the construction process. Environmental regulations and sustainability initiatives support FRP as an eco-friendly solution as it extends service life and offers recycling capability and reduced emissions.

For instance, in June 2022, the Infrastructure Bill in the United States, introduced innovative materials like fiber-reinforced polymer (FRP) composites and their performance advantages into mainstream procurement processes. With construction season undergoing, Creative Composites Group (CCG, Alum Bank, Penn., U.S.) announced five FRP bridge deck projects slated for installation in the year 2022 in Washington State, Delaware, and New Mexico.

Based on the fiber type segment, the FRP bridge market primarily depends on glass fiber because it offers both affordable options and high strength-to-weight ratio together with corrosion resistance and simple manufacturing methods. Glass fiber composites dominate the pedestrian bridge and short-span vehicular bridge sector because they strike an optimal performance-valuation balance which attracts bridge engineers and infrastructure developers to use them. However, carbon fiber is expected to show the fastest growth in the future due to its superior strength and stiffness along with its lightweight properties, which make it suitable for extensive vehicular bridge applications. Moreover, the advancement of cost-reduction technology and hybrid composite technology has made carbon fiber more practical for use in large infrastructure work. As the requirement for efficient bridges with extended service life is increasing the demand for high-potential materials is also increasing.

Based on resin type, vinyl ester resin dominates the market as this type offers exceptional corrosion protection, high mechanical strength, and durability attributes beyond other resin types. The material sees extensive application in pedestrian bridges and vehicular crossings since it has strong resistance against moisture and chemicals despite harsh environmental conditions thus acts as a potential option for coastal areas and humid environments. The better fiber-resin bond created by using vinyl ester-based FRP composites improves structural strength and increases service lifetime thus making them important for different bridge applications. However, in the future, polyester resin is expected to grow rapidly because it is affordable, easy to manufacture, and has increasing demand in lightweight FRP applications. Substantial research in polymer chemistry together with hybrid resin development makes polyester resins more durable for small-span pedestrian bridges and modular bridge structures which will fuel their market growth in the forecasted period.

Based on the bridge type, the pedestrian bridges demonstrate maximum market share due to their cost-effectiveness, easy-to-install capabilities, and minimal load-bearing requirements. FRP shows excellent application in footbridges, cycling bridges as well as in park walkways because of their lightweight properties and corrosion resistance, thus eliminating further maintenance of steel and concrete structures. Making pedestrian bridges out of FRP has become popular in urban projects because these bridges offer both sustainability and quick construction as well as an attractive appearance. Moreover, the demand for vehicular bridges is projected to increase at the fastest rate in upcoming years due to governmental efforts to repair aging transportation infrastructure. The rising need for durable and long-lasting bridges in the transportation sector is boosting their market growth potential.

For a better understanding of the market growth of FRP bridges are analyzed based on their worldwide adoption in regions such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia-Pacific region will have the highest future growth. This growth is driven by increasing sustainability activities and environmental benefits, where FRP bridges play a key role in promoting green construction by reducing material waste, energy consumption, and lifecycle emissions.

Some of the major players operating in the market include Creative Composites Group (Hill & Smith, PLC), Concrete and Timber Services Ltd., Concrete Repairs Ltd. (A CENTURA GROUP COMPANY), Strongwell, Fiberline Building Profiles A/S, FiberCore Europe BV, Mateenbar Ltd., Fibro Plastichem, Arete Structures, FRT TUF-BAR(TM).

Product Code: UMBM213194

TABLE OF CONTENTS

1.MARKET INTRODUCTION

  • 1.1. Market Definitions
  • 1.2. Main Objective
  • 1.3. Stakeholders
  • 1.4. Limitation

2.RESEARCH METHODOLOGY OR ASSUMPTION

  • 2.1. Research Process of the Fiber Reinforced Plastic (FRP) Bridges Market
  • 2.2. Research Methodology of the Fiber Reinforced Plastic (FRP) Bridges Market
  • 2.3. Respondent Profile

3.EXECUTIVE SUMMARY

  • 3.1. Industry Synopsis
  • 3.2. Segmental Outlook
    • 3.2.1. Market Growth Intensity
  • 3.3. Regional Outlook

4.MARKET DYNAMICS

  • 4.1. Drivers
  • 4.2. Opportunity
  • 4.3. Restraints
  • 4.4. Trends
  • 4.5. PESTEL Analysis
  • 4.6. Demand Side Analysis
  • 4.7. Supply Side Analysis
    • 4.7.1. Merger & Acquisition
    • 4.7.2. Investment Scenario
    • 4.7.3. Industry Insights: Leading Startups and Their Unique Strategies

5.PRICING ANALYSIS

  • 5.1. Regional Pricing Analysis
  • 5.2. Price Influencing Factors

6.GLOBAL FIBER REINFORCED PLASTIC (FRP) BRIDGES MARKET REVENUE (USD MN), 2022-2032F

7.MARKET INSIGHTS BY FIBER TYPE

  • 7.1. Glass Fiber
  • 7.2. Carbon Fiber
  • 7.3. Others

8.MARKET INSIGHTS BY RESIN TYPE

  • 8.1. Vinyl Ester
  • 8.2. Polyester
  • 8.3. Others

9.MARKET INSIGHTS BY BRIDGE TYPE

  • 9.1. Vehicular
  • 9.2. Pedestrian

10.MARKET INSIGHTS BY REGION

  • 10.1. North America
    • 10.1.1. U.S.
    • 10.1.2. Canada
    • 10.1.3. Rest of North America
  • 10.2. Europe
    • 10.2.1. Germany
    • 10.2.2. U.K.
    • 10.2.3. France
    • 10.2.4. Italy
    • 10.2.5. Spain
    • 10.2.6. Rest of Europe
  • 10.3. Asia-Pacific
    • 10.3.1. China
    • 10.3.2. Japan
    • 10.3.3. India
    • 10.3.4. Rest of Asia-Pacific
  • 10.4. Rest of World

11.VALUE CHAIN ANALYSIS

  • 11.1. Marginal Analysis
  • 11.2. List of Market Participants

12.COMPETITIVE LANDSCAPE

  • 12.1. Competition Dashboard
  • 12.2. Competitor Market Positioning Analysis
  • 12.3. Porter Five Forces Analysis

13.COMPANY PROFILES

  • 13.1. Creative Composites Group (Hill & Smith, PLC)
    • 13.1.1. Company Overview
    • 13.1.2. Key Financials
    • 13.1.3. SWOT Analysis
    • 13.1.4. Product Portfolio
    • 13.1.5. Recent Developments
  • 13.2. Concrete and Timber Services Ltd
  • 13.3. Concrete Repairs Ltd. (A CENTURA GROUP COMPANY)
  • 13.4. Strongwell
  • 13.5. Fiberline Building Profiles A/S
  • 13.6. FiberCore Europe BV
  • 13.7. Mateenbar Ltd.
  • 13.8. Fibro Plastichem
  • 13.9. Arete Structures
  • 13.10. FRT TUF-BAR

14.ACRONYMS & ASSUMPTION

15.ANNEXURE

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