US Glass Fiber Reinforced Plastic Composites (GFRP) for Bridge Construction Market to Grow at a CAGR of 5.6% to reach US$ 134.40 million from 2022 to 2030

The US glass fiber reinforced plastic (GFRP) composites for bridge construction market size is expected to grow from US$ 86.64 million in 2022 to US$ 134.40 million by 2030; it is expected to register a CAGR of 5.6% from 2022 to 2030.

MARKET ANALYSIS

Fiber reinforced plastic composites have various benefits such as high strength with low unit weight, corrosion resistance, parts consolidation, dimensional stability, nonconductive, and design flexibility. Glass fiber has a high heat-transition temperature and outstanding mechanical properties, which makes it useful in many applications where design flexibility and continuously high temperature and resistance to thermal degradation are critical. Glass fiber reinforced plastic composites are made from plastic resins and glass fibers. The composites are used for bridge decking, railings, approach slabs, and many other applications in bridge construction.

GROWTH DRIVERS AND CHALLENGES

Growing infrastructural developments and various advantages of glass fiber reinforced plastic composites drive the US glass fiber reinforced plastic (GFRP) composites for bridge construction market growth. In the US, the construction industry is one of the major industries. Increasing investments and government initiatives for developing public infrastructure fuel the growth of the US construction industry. In the US, the construction of new bridges and repair, rehabilitation, and replacement of old bridges are increasing. The growing construction of new bridges and repair, rehabilitation, and/or replacement of old bridges propel the demand for different construction materials, including glass fiber reinforced plastic composites. Thus, the growing new bridge construction and old bridge repair, rehabilitation, and/or replacement activities fuel the US glass fiber reinforced plastic (GFRP) composites for bridge construction market growth in the country. In bridge construction, the composites are used for bridge decking, railings, approach slabs, and many other applications. The highest use of glass fiber reinforced plastic composites in bridge engineering is in deck slab construction. In addition, the composites are used to build deck girders due to their high strength. The availability of substitute products poses a challenge to the glass fiber reinforced plastic (GFRP) composite for bridge construction market. Carbon fiber reinforced plastic composite is the major substitute product for glass fiber reinforced plastic composites. Carbon fiber has more strength than glass fiber. Also, carbon fiber is less flexible than glass fiber. Carbon fiber weighs about 15% less than fiberglass composites. It has a negative coefficient of thermal expansion, so the material in its purest form actually expands in cold temperatures. Hence, the availability of substitute product restrains the US glass fiber reinforced plastic (GFRP) composites for bridge construction market growth.

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US Glass Fiber Reinforced Plastic Composites (GFRP) for Bridge Construction Market: Strategic Insights

Market Size Value in	US$ 86.64 million in 2022
Market Size Value by	US$ 134.40 million by 2030
Growth rate	CAGR of 5.6% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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REPORT SEGMENTATION AND SCOPE

The "US Glass Fiber Reinforced Plastic (GFRP) Composites for Bridge Construction Market Analysis to 2030" is a specialized and in-depth study with a major focus on the US market trends and growth opportunities. The report aims to provide an overview of the US market with detailed market segmentation on the basis of resin type, technology, bridge type, application, and geography. The US glass fiber reinforced plastic (GFRP) composites for bridge construction market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of glass fiber reinforced plastic (GFRP) composites for bridge construction in the US. In addition, the report provides a qualitative assessment of various factors affecting the glass fiber reinforced plastic (GFRP) composites market’s performance in the US. The report also includes a comprehensive analysis of the leading players in the glass fiber reinforced plastic (GFRP) composites for bridge construction market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the US glass fiber reinforced plastic (GFRP) composites for bridge construction market, which helps understand the entire supply chain and various factors affecting the market growth.

 

SEGMENTAL ANALYSIS

The US glass fiber reinforced plastic (GFRP) composites for bridge construction market is segmented on the basis of resin type, technology, bridge type, and application. Based on resin type, the glass fiber reinforced plastic (GFRP) composites for bridge construction market is segmented into epoxy, vinyl ester, polyester, and others. By technology, the market is segmented into injection molding, spray-up, filament winding, compression molding, pultrusion, resin infusion, and others. Based on bridge type, the market is segmented into vehicular bridge, railway bridge, and pedestrian bridge. Based on application, the market is segmented into deck and decking components, bridge railings, approach slabs, and others. Based on resin type, the polyester segment accounted for a significant share in the market. Polyester resin-based glass fiber composites are used in the production of architectural components. Glass fiber/polyester composites are used for the manufacturing of sandwich girders, utilized in bridge construction. Based on technology, the spray-up segment accounted for a significant market share. Spray-up technology enables the rapid fabrication of uniform composite coating. Advanced technologies such as robotic spraying enable automatic spraying, reduce cost, and enhance product quality. In terms of bridge type, the vehicular bridge segment accounted for a significant market share. Vehicular bridges are generally constructed using concrete, steel, reinforced concrete, and composite materials. Construction companies choose materials based on cost, durability, and other specific project requirements. Structural components of a vehicular bridge include a bridge deck, abutments, girders, arches, and beams.

US Glass Fiber Reinforced Plastic (GFRP) Composites for Bridge Construction Market – Resin Type, 2022 and 2030

REGIONAL ANALYSIS

The report provides a detailed overview of the glass fiber reinforced plastic (GFRP) composites for bridge construction market with respect to the US. The US glass fiber reinforced plastic (GFRP) composites for bridge construction market accounted for US$ 86.64 million in 2022. Bridge construction companies and engineers utilize GFRP composites to enhance or add capacity to existing bridge structures as well as for new construction. GFRP installation in bridge construction is achieved by adhering to guidelines published by the US Department of Transportation Federal Highway Administration. The organizations recognize GFRP composite bridge decks, rebars and other structures as lightweight and corrosion resistant solutions for new construction projects. The US government is highly focused on the development of infrastructure to provide easy commute and safety for residents and reduce traffic congestion.  

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

The report provides a detailed overview of the US glass fiber reinforced plastic (GFRP) composites for bridge construction market.

• In 2022, Owens Corning and Pultron Composites formed a joint venture to produce fiberglass rebar. The company stated that the agreement helps increase its PINKBAR+ Fiberglas Rebar and MATEENBAR Fiberglas Rebar Products reach in the US market.
• In 2021, Owens Corning's infrastructure solutions business launched MATEENBAR Fiberglas Rebar to strengthen its position in the US composites industry.

IMPACT OF COVID-19/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The report provides a detailed overview of the glass fiber reinforced plastic (GFRP) composites for bridge construction market in the US. Before the emergence of the COVID-19 pandemic, manufacturers invested in research to develop GFRP composite composites for bridge construction. During the pandemic, manufacturers reported challenges in sourcing raw materials and ingredients from suppliers, impacting the production rate of glass fiber reinforced plastic composites. The demand and supply gap were also recorded due to fluctuating demand from the construction industry, which otherwise involved demand for large volumes of composites for infrastructure development.

In 2021, rising vaccination rates contributed to improvements in the overall conditions in the US, which led to conducive environments for the chemicals & materials industry. The sales of glass fiber reinforced plastic composites increased with the resumption of projects and operations of companies operating in the construction industry by the end of 2021. The requirement for repair and rehabilitation of aging infrastructure creates a constant demand for glass fiber reinforced plastic composites. According to the US Census Bureau, the total construction spending in the US during the first five months of 2023 accounted for US$ 740.8 billion. Total construction spending included investment in the office, commercial, transportation, highway, and street development.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Dextra Group, Enduro Composites Inc, Ensinger GmbH, Exel Composites Oyj, Jiangsu Chemlead New Material Co Ltd, Krempel GmbH, Owens Corning, Rochling SE & Co KG, Strongwell Corp, and Tencom Limited are among the key glass fiber reinforced plastic (GFRP) composites manufacturers operating in the US glass fiber reinforced plastic (GFRP) composites for bridge construction market.