Fiber Reinforced Polymer (FRP) Composites Market Growth, Trends, and Forecast by 2031

MARKET OVERVIEW

Fiber Reinforced Polymer (FRP) composites combine a polymer matrix with glass, carbon, or aramid fibers. These composites have a high strength-to-weight ratio, resistance to corrosion, and durability, which makes them well-suited for many industries, including construction, transportation, aerospace, and energy. Among these industries, using FRP composites in the energy sector, specifically in wind turbine blades, is a significant driver of market growth.

MARKET DYNAMICS

The fiber reinforced polymer composites market is anticipated to grow in the forecast period owing to the superior properties offered by the product over steel and other non-ferrous metals such as ease of shaping, low density, and fatigue resistance. The thriving building and construction sector coupled with growing demands for corrosion-free concrete reinforcing materials further boost the growth of the fiber reinforced polymer composites market. However, the high manufacturing cost of the product limits the fiber reinforced polymer composites market. Nonetheless, major R&D activities for cost-effective composite manufacturing and exploration of bio-based FRP offer lucrative opportunities for the fiber reinforced polymer composites market during the forecast period.

MARKET SCOPE

The "Global Fiber Reinforced Polymer (FRP) Composites Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of fiber reinforced polymer composites market with detailed market segmentation by fiber type, end-use industry, and geography. The global fiber reinforced polymer composites market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading fiber reinforced polymer composites market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global fiber reinforced polymer composites market is segmented on the basis of fiber type and end-use industry. Based on type, the market is segmented as glass fiber, carbon fiber, basalt fiber, aramid fiber, and others. On the basis of the application the market is segmented as automotive, aerospace & defense, building & construction, electrical & electronics, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global fiber reinforced polymer composites market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The fiber reinforced polymer composites market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting fiber reinforced polymer composites market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the fiber reinforced polymer composites market in these regions.

MARKET PLAYERS

The reports cover key developments in the fiber reinforced polymer composites market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from fiber reinforced polymer composites market are anticipated to lucrative growth opportunities in the future with the rising demand for fiber reinforced polymer composites in the global market. Below mentioned is the list of few companies engaged in the fiber reinforced polymer composites market.

The report also includes the profiles of key fiber reinforced polymer composites companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

• Aegion Corporation
• American Grating LLC
• B&B FRP Manufacturing Inc.
• DowAksa
• Engineered Composites Ltd
• Hyosung Corporation
• Mitsubishi Chemical Corporation
• SGL Carbon SE
• TenCate Advanced Composites Holding B.V.
• Toray Industries, Inc.

Fiber Reinforced Polymer (FRP) Composites Report Scope