Fiber Reinforced Polymer (FRP) composites, also known as Fiber Reinforced Plastics, are a type of composite material made of a polymer matrix reinforced with fibers. They are designed to combine the high strength and stiffness of the fibers with the lightweight and corrosion-resistant properties of the polymer matrix. In FRP composites, the fibers provide the primary mechanical properties, while the polymer matrix holds the fibers together and transfers the loads between them. The most commonly used fibers in FRP composites are glass fibers, carbon fibers, and aramid fibers. Although other types of fibers can also be used depending on the specific application requirements. The key factor driving the market growth is rising demand from the construction sector and growing demand for energy efficiency in the aerospace and automotive industries. These factors are anticipated to create the lucrative demand for the market during forecast period 2023-2030.
Moreover, the growing construction industry has played a significant role in supporting the growth of the Fiber-reinforced Polymer (FRP) Composites market. FRP composites are increasingly being used in various construction applications due to their superior properties and benefits over traditional materials such as steel and concrete. Thus, the growing construction industry is anticipated to support the market growth. According to Statista, in 2020, the size of global construction market was valued USD 6.4 trillion; in 2022 the value reached USD 8.2 trillion and it is anticipated to reach USD 10.3 trillion by 2025. Additionally, rising infrastructure investment is anticipated to create the lucrative growth opportunity for the market during the forecast period. However, the fluctuating raw material prices and environmental issues regarding the recyclability stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Fiber-reinforced Polymer (FRP) Composites Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the presence of key market players, growing construction and automotive industry is the region. Whereas, the Asia Pacific region is expected to grow at fastest growth rate during the forecast period, owing to factors such as the rising construction activities, growing demand in automotive industry, growing demand for the lightweight and high strength materials in various end use industries in the region.
Major market player included in this report are:
- American Fiberglass Rebar
- American Grating, LLC
- Engineered Composites Ltd
- B&B FRP Manufacturing INC.
- TUF-BAR
- FRP Composites Inc.
- Ten Cate NV
- Zoltek Companies, Inc.
- Hyosung Corporation
- Mitsubishi Rayon Co., Ltd.
Recent Developments in the Market:
- In April 2022, SK ecoplant stated that it will establish a fibreglass rebar manufacturing line from a glass fibre reinforced polymer (GFRP) production line in collaboration with KCMT, a Korean GFRP producer. The entire factory will have 40,000 tonnes of annual manufacturing capacity by 2024, and 200,000 tonnes by 2027.
Global Fiber-reinforced Polymer (FRP) Composites Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Application, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type:
- Glass Fiber Reinforced Polymer (GFRP) Composites
- Carbon Fiber Reinforced Polymer (CFRP) Composites
- Basalt Fiber Reinforced Polymer (BFRP) Composites
- Aramid Fiber Reinforced Polymer (AFRP) Composites
- Others
By Application:
- Automotive
- Construction
- Electronic
- Defense
- Others
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Fiber-reinforced Polymer (FRP) Composites Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Fiber-reinforced Polymer (FRP) Composites Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Fiber-reinforced Polymer (FRP) Composites Market, by Application, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Fiber-reinforced Polymer (FRP) Composites Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Fiber-reinforced Polymer (FRP) Composites Market Dynamics
- 3.1. Fiber-reinforced Polymer (FRP) Composites Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising demand from the construction sector
- 3.1.1.2. Growing demand for energy efficiency in the aerospace and automotive industries
- 3.1.2. Market Challenges
- 3.1.2.1. Fluctuating raw material prices
- 3.1.2.2. Environmental issues regarding the recyclability
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing infrastructure investments
- 3.1.3.2. Growing Electronic Industry
Chapter 4. Global Fiber-reinforced Polymer (FRP) Composites Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Fiber-reinforced Polymer (FRP) Composites Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Fiber-reinforced Polymer (FRP) Composites Market by Type, Performance - Potential Analysis
- 5.3. Global Fiber-reinforced Polymer (FRP) Composites Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Fiber-reinforced Polymer (FRP) Composites Market, Sub Segment Analysis
- 5.4.1. Glass Fiber Reinforced Polymer (GFRP) Composites
- 5.4.2. Carbon Fiber Reinforced Polymer (CFRP) Composites
- 5.4.3. Basalt Fiber Reinforced Polymer (BFRP) Composites
- 5.4.4. Aramid Fiber Reinforced Polymer (AFRP) Composites
- 5.4.5. Others
Chapter 6. Global Fiber-reinforced Polymer (FRP) Composites Market, by Application
- 6.1. Market Snapshot
- 6.2. Global Fiber-reinforced Polymer (FRP) Composites Market by Application, Performance - Potential Analysis
- 6.3. Global Fiber-reinforced Polymer (FRP) Composites Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4. Fiber-reinforced Polymer (FRP) Composites Market, Sub Segment Analysis
- 6.4.1. Automotive
- 6.4.2. Construction
- 6.4.3. Electronic
- 6.4.4. Defense
- 6.4.5. Others
Chapter 7. Global Fiber-reinforced Polymer (FRP) Composites Market, Regional Analysis
- 7.1. Top Leading Countries
- 7.2. Top Emerging Countries
- 7.3. Fiber-reinforced Polymer (FRP) Composites Market, Regional Market Snapshot
- 7.4. North America Fiber-reinforced Polymer (FRP) Composites Market
- 7.4.1. U.S. Fiber-reinforced Polymer (FRP) Composites Market
- 7.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Fiber-reinforced Polymer (FRP) Composites Market
- 7.5. Europe Fiber-reinforced Polymer (FRP) Composites Market Snapshot
- 7.5.1. U.K. Fiber-reinforced Polymer (FRP) Composites Market
- 7.5.2. Germany Fiber-reinforced Polymer (FRP) Composites Market
- 7.5.3. France Fiber-reinforced Polymer (FRP) Composites Market
- 7.5.4. Spain Fiber-reinforced Polymer (FRP) Composites Market
- 7.5.5. Italy Fiber-reinforced Polymer (FRP) Composites Market
- 7.5.6. Rest of Europe Fiber-reinforced Polymer (FRP) Composites Market
- 7.6. Asia-Pacific Fiber-reinforced Polymer (FRP) Composites Market Snapshot
- 7.6.1. China Fiber-reinforced Polymer (FRP) Composites Market
- 7.6.2. India Fiber-reinforced Polymer (FRP) Composites Market
- 7.6.3. Japan Fiber-reinforced Polymer (FRP) Composites Market
- 7.6.4. Australia Fiber-reinforced Polymer (FRP) Composites Market
- 7.6.5. South Korea Fiber-reinforced Polymer (FRP) Composites Market
- 7.6.6. Rest of Asia Pacific Fiber-reinforced Polymer (FRP) Composites Market
- 7.7. Latin America Fiber-reinforced Polymer (FRP) Composites Market Snapshot
- 7.7.1. Brazil Fiber-reinforced Polymer (FRP) Composites Market
- 7.7.2. Mexico Fiber-reinforced Polymer (FRP) Composites Market
- 7.8. Middle East & Africa Fiber-reinforced Polymer (FRP) Composites Market
- 7.8.1. Saudi Arabia Fiber-reinforced Polymer (FRP) Composites Market
- 7.8.2. South Africa Fiber-reinforced Polymer (FRP) Composites Market
- 7.8.3. Rest of Middle East & Africa Fiber-reinforced Polymer (FRP) Composites Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. American Fiberglass Rebar
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Recent Developments
- 8.3.2. American Grating, LLC
- 8.3.3. Engineered Composites Ltd
- 8.3.4. B&B FRP Manufacturing INC.
- 8.3.5. TUF-BAR
- 8.3.6. FRP Composites Inc.
- 8.3.7. Ten Cate NV
- 8.3.8. Zoltek Companies, Inc.
- 8.3.9. Hyosung Corporation
- 8.3.10. Mitsubishi Rayon Co., Ltd.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- 9.3. Research Assumption