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Fiber Reinforced Polymer Market (Product - Carbon Fiber Reinforced Polymer, Glass Fiber Reinforced Polymer, Aramid Fiber Reinforced Polymer, and Basalt Fiber Reinforced Polymer; End User - Automotive, Construction, Aerospace and Defense, Electronics, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : March, 2022

  • Rep Id : CM00895

  • Category : Chemicals & Materials

  • Status : Published

A recent report ongoing study by Infinium Global Research on fiber reinforced polymer market provides in-depth analysis of segments and sub-segments in the global as well as regional fiber reinforced polymer market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional fiber reinforced polymer market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global fiber reinforced polymer market. According to the report, the global fiber reinforced polymer market is projected to grow at a healthy CAGR over the forecast period of 2021-2027.

 

Market Insight

Fiber-reinforced polymer (FRP), alternatively known as Fiber-reinforced plastic, is a composite material which consists of a polymer matrix consisting of Fibers. Carbon, aramid, and glass Fibers are commonly employed, though other Fibers such as paper, wood, or asbestos have also been used. Epoxy, polyester thermosetting plastics, and vinylester are commonly used, but phenol formaldehyde resins are still used. The aerospace, automotive, marine, and construction industries all use FRPs. The applications of Fiber reinforced polymers have evolved across industries. The reinforcement of polymers with Fibers requires a high level of expertise, technology and abundant raw materials. Due to their characteristics, Fiber reinforced polymers are gaining popularity among developed countries of the world and are slowly making inroads into the industries of developing countries.

 

Fiber reinforced polymers have versatile and extensive properties that make their scope of applications very broad. Fiber reinforced polymers are no-corrosive, light-weight, have specific stiffness and strength, and are customizable according to specific requirements. Owing to these many properties, its scope of applications is very huge and can be used across different industries. Therefore, its versatile and extensive properties are responsible for its widespread adoption. End-user industries such as aerospace, construction, and automotive are using Fiber-reinforced polymers and their demand from these industries is growing significantly. The construction industry is using Fiber reinforced polymers for strengthening the structures. The automotive industry is using Fiber reinforced polymers for making vehicles lightweight and impact resistant. specifically in high-performance and utility vehicles. Aerospace and defence are adopting Fiber reinforced polymers for their application in the manufacturing of aircraft, space shuttles, protective armor, armoured fighting vehicles and others. Thus, these factors are majorly driving the growth of the market. The growth of the market may be hampered due to the high cost of the Fiber-reinforced polymers. These polymers require a high level of expertise, technicians, and technology and complex machinery for manufacturing, which results in their high cost. Nevertheless, new growth opportunities are in foresight as investments in R & D of hybrid Fiber-reinforced polymers are growing.

 

Industries such as construction, aerospace and defense, automotive, shipbuilding and others are highly advanced and one of the prime users of Fiber reinforced polymers. These industries are adopting Fiber reinforced polymers due to their versatile characteristics. Manufacturing of aircraft, rockets, space shuttles, satellites, and others is done on a large scale in North America. Manufacturers of these, such as SpaceX, Boeing, and others, have started adopting Fiber reinforced polymers for increasing the robustness of their offerings and reducing the overall weight, with the ultimate goal of increasing the service life of aircraft, rockets, space shuttles, and others, as well as reducing the amount of fuel consumed by these machines by bringing down their weight. The shipbuilding industry is also adopting Fiber reinforced polymers such as glass Fiber reinforced polymers in the manufacturing of small-sized boats, dingys, yachts, surfing boards, and others. Automotive manufacturers are also using Fiber reinforced polymers, such as carbon Fiber reinforced polymers, in the manufacturing of vehicles. Furthermore, construction of new buildings is going on in full swing in North America, and construction companies are adopting Fiber reinforced polymers for use in the construction of new structures.

 

Segment Covered

The report on global fiber reinforced polymer market covers segments such as product, and end user. On the basis of product, the sub-markets include carbon fiber reinforced polymer, glass fiber reinforced polymer, aramid fiber reinforced polymer, and basalt fiber reinforced polymer. On the basis of end user, the sub-markets include automotive, construction, aerospace and defense, electronics, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Mitsubishi Chemical Corporation, MST Rebar Inc. , BASF SE, SGL Carbon SE, Ten Cate NV, Saint-Gobain Performance Plastics, AGC Inc., Borosil Limited, Aegion Corporation, and Hengshui Jiubo Composites Co. Ltd.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the fiber reinforced polymer market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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