Fiber Reinforced Polymer (FRP) Composites Market Top Company Profiles and Recent Development Report

Felton, Calif., USA, Mar. 26, 2021 — /EPR Network/ —

The global Fiber Reinforced Polymer (FRP) Composites Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Fiber Reinforced Polymer (FRP) Composites Market is estimated to reach USD 282.9 billion by 2025. A fiber reinforced polymer (FRP) composite material, as the name suggests, implies reinforcing fibers in a polymer constituent or matrix. These fibers could be mat, fabric, or components.

Key Players:

• PPG industries, Inc.
• Xinyi Automobile Glass Co. Ltd.
• Asahi Glass Co. Ltd.
• Nippon Sheet Glass Co. Ltd. (NSG)
• Saint-Gobain S.A.
• Guardian Industries
• Hanwha Q CELLS Co. Ltd.
• Borosil Glass Works Ltd.
• GSC Glass Ltd.
• Duratuf Glass Industries Pvt. Ltd.

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Growth Drivers:

The key features associated with fiber reinforced polymer products including flexibility, strength, low cost, and conductivity are estimated to drive the market growth in the upcoming period. The factors that propel the growth of the FRP Composites Market comprise the low cost of FRP composite, increasing production capacity of FRP composite, and growth in the automotive sector. On the other hand, the factors that may hamper the growth of the market include high production cost of FRP composite. Fiber Reinforced Polymer (FRP) Composites Market is anticipated to grow at a significant CAGR of 10.7% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Fiber Type Outlook

• Glass Fiber Reinforced Polymer (GFRP) Composites
• Carbon Fiber Reinforced Polymer (CFRP) Composites
• Basalt Fiber Reinforced Polymer (BFRP) Composites
• Aramid Fiber Reinforced Polymer (AFRP) Composites

The “Glass Fiber Reinforced Polymer (GFRP) Composites” segment dominated the Fiber Reinforced Polymer Composites Market in 2016 and is anticipated to maintain its dominance in the forecast period.

Application Outlook:

• Automotive
• Construction
• Electronic
• Defense

“Automotive” segment dominated the Fiber Reinforced Polymer (FRP) Composites Market in 2016 and is anticipated to maintain its dominance by 2025 due to numerous advantages such as improved mechanical features such as enhanced surface finish of molded parts, flexibility, & density, and strength stiffness, and low cost & weight.

Regional Outlook:

North America accounted for the major share of the Fiber Reinforced Polymer (FRP) Composites Market Size in 2016 and will continue to lead in the forthcoming period. The factors that could be attributed to the growth include easy availability of raw materials, increased demand from recreational vehicles, new plant establishment, increasing manufacturing industries, low labor costs, new product developments. North America is followed by Europe in the forecast period.

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