According to the report by Expert Market Research (EMR), the global fibre reinforced polymer (FRP) market size is projected to grow at a CAGR of 11% between 2024 and 2032. Aided by the growing demand in various industries and advancements in material technology, the market is expected to grow significantly by 2032.
Fibre reinforced polymers, composites made from a polymer matrix reinforced with fibres, are known for their high strength-to-weight ratio, durability, and corrosion resistance. These materials have become increasingly popular in diverse industries such as aerospace, automotive, construction, and marine, owing to their ability to enhance structural integrity while reducing weight.
The fibre reinforced polymer (FRP) market growth is primarily driven by the increasing demand for lightweight and high-strength materials, especially in the automotive and aerospace industries. In these sectors, FRP is used to reduce vehicle weight, thereby improving fuel efficiency and reducing emissions, aligning with the global push towards sustainability.
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Another significant factor contributing to the market’s expansion is the growing construction and infrastructure sector, where FRP is used for various applications like reinforcing concrete, roofing, and cladding. The material’s resistance to corrosion and its strength makes it a preferred choice for construction in corrosive environments, such as coastal areas and chemical plants.
Technological advancements in FRP manufacturing, including the development of new resin systems and fibre materials, have further bolstered the fibre reinforced polymer (FRP) market demand. These innovations have led to the creation of FRPs with enhanced properties, such as improved heat resistance and higher tensile strength, opening new avenues for applications.
Regionally, Asia Pacific dominates the global FRP market, driven by rapid industrialisation and the expansion of the automotive and construction industries in countries like China, India, and Japan. The region’s focus on infrastructure development and the increasing adoption of lightweight materials in manufacturing contribute significantly to market growth.
In terms of fibre reinforced polymer (FRP) market trends, there is a growing emphasis on developing eco-friendly FRP composites. Research is being conducted on bio-based resins and natural fibres to manufacture FRPs, aligning with the global trend towards sustainable and environmentally friendly materials.
Fibre Reinforced Polymer (FRP) Market Segmentation
The market can be divided based on product, resin type, manufacturing process, application, and region.
Market Breakup by Product
- Aramid
- Glass
- Carbon
- Basalt
- Others
Market Breakup by Resin Type
- Polyester
- Vinyl Ester
- Epoxy
- Others
Market Breakup by Manufacturing Process
- Pultrusion
- Vacuum Infusion
- Bladder Molding
- Compression Molding
- Thermoplastic Extrusion
- Filament Winding
- Others
Market Breakup by Application
- Automotive
- Electronic
- Defence
- Energy
- Construction
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Fibre Reinforced Polymer (FRP) Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global fibre reinforced polymer (FRP) market. Some of the major players explored in the report by Expert Market Research are as follows:
- Mitsubishi Chemical Corporation
- BASF SE
- Aegion Corporation
- Toray Industries, Inc.
- Celanese Corporation
- Advanced Composites Inc.
- SGL Carbon SE
- Others
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