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Fiber Reinforced Polymer (FRP) Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - BASF, DuPont, LAN XESS, DSM

02 Jan, 2020 | 124 Pages
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The Global Fiber Reinforced Polymer (FRP) market is valued at 2105.4 million US$ in 2020 is expected to reach 2914.2 million US$ by the end of 2027, growing at a CAGR of 4.7% during 2022-2027.



Fiber Reinforced Polymer (FRP) Market Overview



FRP composites is a composite material made of polymer matrix that is reinforced with fibre. The fibres used are typically glass, carbon, aramid or basalt. Polymers normally used are epoxy, vinyl ester or polyester plastic. They are normally used in aerospace, automotive, construction, marine and other sectors. It is applicable in Weight-saving, precision engineering applications and simplification of production. Rising demand for lightweight material but with high strength, flexibility and that can withstand impact and heavy load from Aerospace industry is driving the market. Additionally, increasing R&D for technical advancements in the Automobile industries to make the vehicle light and impact resistant is likely to boost the market growth. For instance, it is used in Rudder of Airbus A310. It reduced approximately 25 % of the total weight and up to 95% reduction in number of components by replacing combining parts with simpler moulded parts.Fiber-reinforced polymer (FRP) composites are widely used in the transportation industry in automotive, aircraft, helicopters, and spacecraft to boats and ships.In the transportation industry, fiber-reinforced polymer (FRP) composite material serves as the best alternative to conventional materials like steel or aluminum owing to weight and cost issues. FRPs are ideal replacements for wood, in marine waterfront environments, or on ships, where they reduce the structural weight and enhance corrosion resistance.



Industry News and Updates:



In July 2017, Owens Corning Infrastructure solutions acquired Aslan FRP, amanufacturer of composite rebars used in the projects that includes constructions of roads, bridges, marine structures, tunnels and other structures.



Toray Advanced Composites announces that it has completed a long-term supply agreement with Joby Aviation for the composite material used for its aircraft. Carbon fiber composite materials provide the strength-to-weight ratio needed for electric aerospace applications to maximize the aircraft's range and speed.



Market Growth



Fiber-reinforced polymer (FRP) composites are widely used in the transportation industry in automotive, aircraft, helicopters, and spacecraft to boats and ships.Fiber-reinforced polymer (FRP) are composites used in almost every type of advanced engineering structure, with their usage ranging from aircraft, helicopters, and spacecraft through to boats, ships and offshore platforms, and to automobiles.



In the aerospace industry, fiber-reinforced polymer (FRP) composite materials have been largely used due to their properties, such as being lightweight, high stiffness, and high strength. In the automotive industry, its application can be found in the production of structural elements, body panels, monocoques, passenger compartments, and semitrailers. In the marine sector, FRP composites are used to build boats, canoes, lifeboats, utility vessels. It is mostly used to build recreational boats due to its durability and cost-efficiency.



What are the major Applications, Types and Regions for Fiber Reinforced Polymer (FRP) Market?



Fiber Reinforced Polymer (FRP) Market is segmented based on the type, applications, companies and regions.



By Type, Fiber Reinforced Polymer (FRP) Market has been segmented into 




  • Thermoplastic Composites

  • Thermosetting Composite

  • Carbon Fibers

  • Glass Fibers



The end user’s industry application on Fiber Reinforced Polymer (FRP) Market are, 




  • Vehicles

  • Electronics

  • Aerospace

  • Consumables

  • Construction

  • Chemical Storage Tanks

  • Waste Treatment and Water Tanks

  • Underground Fuel Storage Tanks

  • Pickling and Plating Tanks

  • Blending Tank

  • Mobile Tanks mounted on Trailers

  • Other



By End Use Industry: 




  • Power Generation

  • Chemical Industry

  • Food & Beverage Industry

  • Metals and Mining

  • Water & Waste Water

  • Oil & Gas, Pulp & Paper

  • others 



Fiber Reinforced Polymer (FRP) Market Regional Analysis:



The report offers in-depth assessment of the growth and other aspects of the Fiber Reinforced Polymer (FRP) Market in important regions, including the 



North America






    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East & Africa

    • Latin America





China is the largest producer of fiber-reinforced composites, with a global market share of about 39% in 2018, followed by the US with about 21%.China being one of the largest markets for construction, the country is a leading driver of composites. The massive demand for advanced composites materials in the fast-growing automotive, railway, construction, and wind energy industries has revolutionized the Chinese composites industry for the past decade.



In China, the construction industry flourished robustly in 2020, but the growth was restricted due to the pandemic. The construction sector had supported the economic growth in the country when significant slowdowns occurred.Asia-Pacific is expected to dominate the market for fiber-reinforced polymer (FRP) composites during the forecast period. Due to the high demand for applications from countries like China, India, and Japan, the demand for the market studied has been increasing.



What is our Fiber Reinforced Polymer (FRP) Market report scope?























































 



Report Attributes



 



 



Report Details



 



Forecast Period 2022 to 2027 CAGR



 



CAGR of 4.7% during the review period (2022 to 2027).



 



By Type




  • Thermoplastic Composites

  • Thermosetting Composite

  • Carbon Fibers

  • Glass Fibers



 



By Application




  • Vehicles

  • Electronics

  • Aerospace

  • Consumables

  • Construction

  • Chemical Storage Tanks

  • Waste Treatment and Water Tanks

  • Underground Fuel Storage Tanks

  • Pickling and Plating Tanks

  • Blending Tank

  • Mobile Tanks mounted on Trailers

  • Other



 



 



 



By Companies



 



BASF, DuPont, LAN XESS, DSM, SABIC, Poly One, SOLVAY, RTP, Clanese, Innovation by Chemistry, LG, KINGFA, Shanghai PRET Composites Co.,Ltd, GENIUS, SILVER, GuoEn, Hexce,Koninklijke Ten Cate, Aegion Corporation, Mitsubishi Chemical Corporation, DowAksa, SGL Group, B&B FRP MANUFACTURINGand others.



 



 



Regions Covered



 




  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World



 



 



 



 



 



 



 



 



Countries Covered




  • US

  • Canada

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Rest of Asia-Pacific

  • Middle East & Africa

  • Latin America



 



Base Year



 



 



2022



 



Historical Year



 



 



2017 to 2021



 



Forecast Year



 



 



2022 to 2027


Number of Pages 124

 



Customization Available



 



 



Yes, the report can be customized as per your needs




Key Takeaways from this Fiber Reinforced Polymer (FRP) Report




  • Evaluate Fiber Reinforced Polymer (FRP) market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.

  • Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.

  • Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

  • Analyze the sales and distribution channels across key geographies to improve top-line revenues.

  • Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

  • Get a quick outlook on the Fiber Reinforced Polymer (FRP) market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.

  • Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.



Frequently Asked Questions What is the study period of this market?



 The Fiber Reinforced Polymer (FRP) Market is studied from 2022 - 2027.



What is the growth rate of Fiber Reinforced Polymer (FRP) market?



The Fiber Reinforced Polymer (FRP) Market is growing at a CAGR of 4.7% over the next 5 years.



Who are the key players in Fiber Reinforced Polymer (FRP) market?



BASF, DuPont, LAN XESS, DSM, SABIC, Poly One, SOLVAY, RTP, Clanese, Innovation by Chemistry, LG, KINGFA, Shanghai PRET Composites Co.,Ltd, GENIUS, SILVER, GuoEn, Hexce,Koninklijke Ten Cate, Aegion Corporation, Mitsubishi Chemical Corporation, DowAksa, SGL Group, B&B FRP MANUFACTURINGand others.



What region does this Fiber Reinforced Polymer (FRP) market report covers?



North America (the United States, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Colombia, etc.) The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)



All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.


  1. INTRODUCTION

    1. MARKET DEFINATION

    2. MARKET DYNAMICS

    3. MARKET SEGMENTATION

    4. REPORT TIMLINES

    5. KEY STAKEHOLDERS



  2. RESEARCH METHODOLOGY

    1. DATA MINING

      1. SECONDARY RESEARCH

      2. PRIMARY RESEARCH

      3. SUBJECT MATTER EXPERT ADVICE



    2. QUALITY CHECK

    3. FINAL REVIEW

      1. DATA TRIANGULATION

      2. BOTTOM-UP APPROACH

      3. TOP-DOWN APPROACH

      4. RESEARCH FLOW





  3. EXECUTIVE SUMMARY

    1. INTRODUCTION

    2. GLOBAL FIBER REINFORCED POLYMER (FRP) MARKET BY TYPES

    3. GLOBAL FIBER REINFORCED POLYMER (FRP) MARKET BY APPLICATIONS



  4. MARKET DYNAMICS

    1. DRIVERS

      1. INCREASING DEMAND FOR FIBER REINFORCED POLYMER (FRP)



    2. RESTRAINTS

      1. STRINGENT ENVIRONMENTAL REGUALTIONS

      2. HIGH COST ON MATERIALS



    3. OPPORTUNITIES

      1. FIBER REINFORCED POLYMER (FRP) GROWTH

      2. APPLICATION OF FIBER REINFORCED POLYMER (FRP)



    4. IMPACT OF COVID 19



  5. GLOBAL FIBER REINFORCED POLYMER (FRP) MARKET, BY TYPES

    1. Introduction

    2. Thermoplastic Composites

    3. Thermosetting Composite

    4. Carbon Fibers

    5. Glass Fibers

    6. Other            



  6. GLOBAL FIBER REINFORCED POLYMER (FRP) MARKET, BY APPLICATION

    1. Introduction

    2. Vehicles

    3. Electronics

    4. Aerospace

    5. Consumables

    6. Construction

    7. Chemical Storage Tanks

    8. Waste Treatment and Water Tanks

    9. Underground Fuel Storage Tanks

    10. Pickling and Plating Tanks

    11. Blending Tank

    12. Mobile Tanks mounted on Trailers

    13. Others   



  7. GLOBAL FIBER REINFORCED POLYMER (FRP) MARKET, BY REGION

    1. NORTH AMERICA

      1. US

      2. CANADA

      3. MEXICO



    2. EUROPE

      1. GERMANY

      2. FRANCE

      3. UK

      4. ITALY

      5. RUSSIA

      6. REST OF EUROPE



    3. APAC

      1. CHINA

      2. SOUTH KOREA

      3. JAPAN

      4. INDIA

      5. AUSTRALIA

      6. ASEAN

      7. REST OF APAC



    4. MIDDLE EAST & AFRICA

      1. SAUDI ARABIA

      2. UAE

      3. SOUTH AFRICA

      4. TURKEY

      5. REST OF MEA



    5. SOUTH AMERICA

      1. BRAZIL

      2. REST OF MEA

      3. ARGENTINA

      4. REST OF SOUTH AMERICA





  8. COMPETITIVE LANDSCAPE

    1. MERGERS, ACQUISITIONS, JOINT VENTURES, COLLABORATIONS,

    2. AND AGREEMENTS

      1. KEY DEVELOPMENT



    3. MARKET SHARE (%) **/RANKING ANALYSIS

    4. STRATEGIES ADOPTED BY LEADING PLAYERS



  9. COMPANY PROFILES

    1. BUSINESS OVERVIEW

    2. COMPANY SNAPSHOT

    3. PRODUCT BENCHMARKING

    4. STRATEGIC INITIATIVES

      1. BASF,

      2. DuPont,

      3. LAN XESS,

      4. DSM,

      5. SABIC,

      6. Poly One,

      7. SOLVAY,

      8. RTP,

      9. Clanese,

      10. Innovation by Chemistry,

      11. LG,

      12. KINGFA,

      13. Shanghai PRET Composites Co.,Ltd,

      14. GENIUS,

      15. SILVER,

      16. GuoEn,

      17. Hexce,

      18. Koninklijke Ten Cate,

      19. Aegion Corporation,

      20. Mitsubishi Chemical Corporation,

      21. DowAksa,

      22. SGL Group,

      23. B&B FRP MANUFACTURINGand others.





SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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