According to publisher, the global Fiber Reinforced Polymer (FRP) Composites market size was valued at US$ 32260 million in 2023. With growing demand in downstream market, the Fiber Reinforced Polymer (FRP) Composites is forecast to a readjusted size of US$ 44640 million by 2030 with a CAGR of 4.8% during review period.
The research report highlights the growth potential of the global Fiber Reinforced Polymer (FRP) Composites market. Fiber Reinforced Polymer (FRP) Composites are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Fiber Reinforced Polymer (FRP) Composites. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Fiber Reinforced Polymer (FRP) Composites market.
Fiber Reinforced Polymer (or Fiber Reinforced Plastic, referred to as FRP) is formed by reinforcing fiber materials, such as glass fiber, carbon fiber, aramid fiber, etc., and matrix materials through winding, molding or pultrusion composite material. According to different reinforcing materials, common fiber reinforced composites are divided into glass fiber reinforced composites (GFRP), carbon fiber reinforced composites (CFRP) and aramid fiber reinforced composites (AFRP).
The key manufactures of Fiber Reinforced Polymer (FRP) Composites in the world are BASF, DuPont, Lanxess, DSM, Kingfa, Avient, LG Chemical, Celanese and Hexcel, among which the market share of the top five producers is close to 10%, and the largest manufactures is BASF. The global production of fiber reinforced polymer (FRP) composites is mainly distributed in North America, Europe, China and Japan. The market share of the top three production regions exceeds 70%, and China is currently the largest production region. In terms of its products, the growth rate of carbon fiber reinforced polymer (CFRP) composites is relatively fast, with glass fiber reinforced polymer (GFRP) composites accounting for more than 70% of the market share, followed by carbon fiber reinforced polymer (CFRP) composites and aramid fiber reinforced polymer (AFRP) composites. In terms of its application, automotive is its largest application field, with a market share of more than 30%, followed by construction, electronics and national defense.
Key Features:
The report on Fiber Reinforced Polymer (FRP) Composites market reflects various aspects and provide valuable insights into the industry. Fiber Strengthened Polymer FRP composites are revolutionizing different businesses by advertising a one of a kind mix of quality, lightweight properties, and plan flexibility.
Key Drivers Fuelling the Market:
Lightweighting Patterns in Transportation The expanding request for fuel efficient vehicles is driving the utilize of FRP composites in
Automobiles (body boards, hoods, trunks
Aircraft (fuselage components, wings)
Ships and water crafts superstructures, hulls
FRP composites offer noteworthy weight diminishment compared to conventional materials like steel, driving to moved forward fuel proficiency and decreased outflows. Illustration The Boeing 787 Dreamliner utilizes broad CFRP Carbon Fiber Strengthened Polymer composites for a lighter airframe, coming about in lower fuel consumption.
Growing Request for Erosion Resistance FRP composites exceed expectations in standing up to erosion, making them perfect for applications like
Chemical preparing tanks and pipes.
Marine structures (seaward stages, vessel hulls
Construction (building exteriors, cladding panels
This dispenses with the require for costly corrosion resistant coatings or visit substitutions in cruel situations. Case Fiberglass a sort of FRP is commonly utilized in capacity tanks for destructive chemicals due to its great resistance to chemical attack.
High Strength-to-Weight Proportion FRPs offer an uncommon strength to weight proportion, outperforming conventional materials like steel in particular applications. This makes them appropriate for
Structural components in buildings and bridges
Sporting products bike outlines, kayak paddles
Military applications (armor, air ship components
What's Inside a Bonafide Research`s industry report?
A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
Challenges and Opportunities:
Challenges incorporate tall introductory costs of certain FRP composites, reusing and transfer concerns for a few sorts of filaments, and competition from built up materials like steel and aluminum in particular applications. In any case, the developing center on supportability is driving investigate into bio based and recyclable FRP materials. Also, progressions in fabricating forms like computerized fiber arrangement AFP offer openings for speedier and more cost effective generation.
Market Size and Growth: The research report provide an overview of the current size and growth of the Fiber Reinforced Polymer (FRP) Composites market. It may include historical data, market segmentation by Type (e.g., Glass Fiber Reinforced Polymer (GFRP) Composites, Carbon Fiber Reinforced Polymer (CFRP) Composites), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Fiber Reinforced Polymer (FRP) Composites market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Fiber Reinforced Polymer (FRP) Composites market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Fiber Reinforced Polymer (FRP) Composites industry. This include advancements in Fiber Reinforced Polymer (FRP) Composites technology, Fiber Reinforced Polymer (FRP) Composites new entrants, Fiber Reinforced Polymer (FRP) Composites new investment, and other innovations that are shaping the future of Fiber Reinforced Polymer (FRP) Composites.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Fiber Reinforced Polymer (FRP) Composites market. It includes factors influencing customer ' purchasing decisions, preferences for Fiber Reinforced Polymer (FRP) Composites product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Fiber Reinforced Polymer (FRP) Composites market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Fiber Reinforced Polymer (FRP) Composites market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Fiber Reinforced Polymer (FRP) Composites market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Fiber Reinforced Polymer (FRP) Composites industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Fiber Reinforced Polymer (FRP) Composites market.
Market Segmentation:
Fiber Reinforced Polymer (FRP) Composites market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
Glass Fiber Reinforced Polymer (GFRP) Composites
Carbon Fiber Reinforced Polymer (CFRP) Composites
Aramid Fiber Reinforced Polymer (AFRP) Composites
Others
Segmentation by application
Automotive
Construction
Electronics
Defence
Others
This report also splits the market by region: Asia Pacific right now holds the biggest advertise share due to components like
Rapid industrialization and foundation development.
Growing request for lightweight vehicles and energy efficient transportation.
Increasing government speculations in aviation and renewable vitality sectors.
Europe and North America hold noteworthy advertise offers with set up fabricating bases and innovative headways in composite materials. In any case , development in these districts is anticipated to be slower compared to Asia Pacific.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
Make this report your own
Have queries/questions regarding a report
Take advantage of intelligence tailored to your business objective
Manmayi Raval
Research Consultant
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
BASF
DuPont
Lanxess
DSM
Kingfa
Avient
LG Chemical
Celanese
Hexcel
Teijin
Solvay
Toray
Mitsubishi Chemical
SGL Carbon
Owens Corning
Jiangsu AoSheng
Jiangsu Hengsheng
Weihai Guangwei
SABIC
Don’t pay for what you don’t need. Save 30%
Customise your report by selecting specific countries or regions
One individual can access, store, display, or archive the report in Excel format but cannot print, copy, or share it. Use is confidential and internal only. Read More
One individual can access, store, display, or archive the report in PDF format but cannot print, copy, or share it. Use is confidential and internal only. Read More
Up to 10 employees in one region can store, display, duplicate, and archive the report for internal use. Use is confidential and printable. Read More
All employees globally can access, print, copy, and cite data externally (with attribution to Bonafide Research). Read More