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Global Fiber-reinforced Polymer (FRP) Composites Market to reach USD XX billion by the end of 2030

Global Fiber-reinforced Polymer (FRP) Composites Market Size study & Forecast, 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) and Regional Analysis, 2023-2030

Product Code: CMPP-71030353
Publish Date: 10-08-2023
Page: 200

Global Fiber-reinforced Polymer (FRP) Composites Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. 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.

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.
FRP Composites Inc.
Ten Cate NV
Zoltek Companies, Inc.
Hyosung Corporation
Mitsubishi Rayon Co., Ltd.
Recent Developments in the Market:
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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
By Application:
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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 Rising demand from the construction sector Growing demand for energy efficiency in the aerospace and automotive industries
3.1.2. Market Challenges Fluctuating raw material prices Environmental issues regarding the recyclability
3.1.3. Market Opportunities Growing infrastructure investments 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 Type breakdown estimates & forecasts, 2020-2030 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 Key Information Overview Financial (Subject to Data Availability) Product Summary 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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