Fiber Reinforced Polymers (FRP) Panels & Sheets Market - Global Industry Analysis, Size, Share 2024
Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Overview
Fiber
reinforced polymers (FRP) panels and sheets, also known as FRP
composites, have a wide range of architectural applications. Early
applications majorly included making marine products such as speed
boats, sail boats, and wave runners. Characterized by the properties of
corrosion resistance, impact resistance, and durability, FRP composites
are finding myriad applications today. Owing to the amazing design
flexibility that can be attained with FRP panels and sheets, they are
being increasingly used for a wide spectrum of products ranging from
making recreational equipment and high-rise buildings to components of
commercial aircrafts.
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FRP
composites are widely used in diverse end-use industries, including
construction, automotive and transportation, recreational and marine,
and aerospace. The market has evolved rapidly over the past few years
with the expanding architectural applications that demand corrosive
conditions, such as underground storage tanks. Rapid pace of
urbanization has led to the soaring demand for composites in a large
number of building and construction designs.
The
report offers in-depth insight into the current market scenario, key
drivers and restraints, emerging trends and opportunities, and market
share and size of key segments. Technological advances in composite
engineering expected to influence the competitive dynamics are analyzed
in the report. The research study evaluates the key factors shaping the
demand for FRP composites in various end-use industries. Recent
developments in various developing and developed regions and product
innovations brought by leading manufacturers are highlighted in the
report.
Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Trends and Opportunities
The
fiber reinforced polymers panels and sheets market is primarily driven
by their wide ranging applications across diverse industry verticals,
especially in architectural design and construction activities. The
enormous design flexibility and high strength-to-weight ratios of FRP
composites have bolstered their demand in various engineering designs.
In particular, there is a spiraling demand for FRP composites in making
turbines and aircraft bodies, fuelling the market growth in major
regions. The ability of FRP composites to offer unique architectural
features in complex facades and curvilinear shapes has made them
increasingly popular in civil engineering applications for a variety of
new constructions and remediation projects.
The
use of FRP composites in exterior cladding applications has
significantly enhanced the durability and reduced the seismic loads
earlier not possible with traditional wood, masonry, or metals. The
emerging applications of FRP composites in designing high technology
recreational products and medical applications are expected to unlock
abundant growth opportunities for the market players.
Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Regional Outlook
North
America is a prominent market for FRP panels and sheets. The impressive
growth in the regional market is attributed to the increasing demand
for FRP composites in the building and construction segment in various
countries, particularly the U.S. A significant demand for FRP composites
in the regional market comes from the architectural usage of FRP
composites in activities related to reproduction or restoration of
historic buildings. Advancement in fabrication processes and the use of
advanced reinforcement materials have enlarged their structural and
functional properties, propelling the North America market.
Asia
Pacific market is expected to witness a substantial demand for FRP
panels and sheets in various end-use industries. The rapid pace of
urbanization has led to the demand for composites in different
residential and commercial remediation projects. Competitive pricing and
the availability of cheap labor for manufacturing FRP panels and sheets
in countries such as China and India have impelled companies to shift
their production plants to these countries. This is expected to unlock
exciting opportunities for the market players.
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Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Competitive Landscape
Various
FRP manufacturers use a variety of fillers and additives to achieve the
required performance improvements of FRP composites, thus enhancing
their performance. Major players operating in this market include
Glasteel, Inc., Brianza Plastica S.p.A., Crane Composites Inc., U.S.
Liner Company, Panolam Industries International Inc., LAMILUX Heinrich
Strunz Group, Optiplan GmbH, and Polser Fiberglass Reinforced Plastics
Inc.
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FRP Storage Tanks Manufacturers