With the emergence and long-term Impact of COVID-19, Global Fiber-reinforced Polymer (FRP) Composites Market to reach USD XXX Million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Fiber-reinforced Polymer (FRP) Composites Market points towards a potential rise to USD XXX Million by 2030. 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.
Geographically, the global Fiber-reinforced Polymer (FRP) Composites market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). 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.
The global Fiber-reinforced Polymer (FRP) Composites market is highly competitive owing to the presence of several key players such as 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. and others.
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Key findings of the study suggest:
- Global Fiber-reinforced Polymer (FRP) Composites Market is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2023-2030.
- In the Type segment, Glass Fiber Reinforced Polymer (GFRP) Composites emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to presence of key market players, growing construction and automotive industry is the region.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
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
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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