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Fiber Reinforced Polymer Market (Product Type - 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 2030

Fiber Reinforced Polymer Market (Product Type - 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 2030

Report Code: IGR0482 Category: Chemicals & Materials Published: October, 2023

A recent report published 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.

Market Insight:

The revenue generated by the fiber reinforced polymer market was USD 200.83 billion in 2022 and is expected to reach USD 487.26 billion in 2030 and is expected to grow with a CAGR of 10.05% over the forecast period 2023-2030.

Fiber Reinforced Polymers (FRPs) are composite materials that consist of a polymer matrix reinforced with fibers, such as carbon, glass, or aramid. This union capitalizes on the natural advantages of its constituents, which renders a material that possesses outstanding mechanical characteristics. The application range of fiber-reinforced polymers is wide and keeps growing. During construction, fiber-reinforced polymers are used for structural elements characterized by high durability and low maintenance costs, especially in harsh environments. In aerospace and automotive industries, their lightweight characteristic improves fuel economy as well as overall performance. Also, fiber-reinforced polymers are employed in renewable energy infrastructure and healthcare for biocompatible devices as well as sports equipment to enhance performance. With the increasing demand for sustainable, durable, and lightweight materials FRPs are expected to take a more prominent position in modern engineering and design. Their flexibility and adaptability place them in the role of an innovation driver within different industries, thereby defining future trends for materials used by industry and technology.

Fiber Reinforced Polymers (FRPs) provide a triumphing mixture of excessive strength, low weight, corrosion resistance, and design flexibility. These flexible properties make FRPs fundamental in industries along with production, aerospace, automobile, and renewable strength. As the demand for lightweight, durable, and sustainable materials grows, FRPs are poised to force market growth throughout diverse sectors. Additionally, the escalating demand for Fiber Reinforced Polymers (FRPs) is propelled by way of diverse industries in search of lightweight, robust, and corrosion-resistant solutions. Sectors which include production, aerospace, automobile, and renewable electricity increasingly rely on FRPs to meet overall performance and sustainability requirements. However, the marketplace's growth can be hindered using the expanded cost of fiber-reinforced polymers, as their production and implementation fees can deter potential clients and restrict substantial adoption, doubtlessly impeding the usual marketplace boom. These polymers require a high level of understanding, technicians, technology, and complex equipment for manufacturing, which ends up in their excessive price. Although, increasing hobby in environmentally sustainable creation substances is riding demand for Fiber Reinforced Polymers (FRPs), presenting enormous boom opportunities in the market. FRPs offer electricity and environmental benefits, making them a favored desire for eco-aware production projects globally.

Fiber Reinforced Polymer Market Size, Share, Trends, | IGR

North America, particularly the U.S., holds a great market percentage because of its strong production and automotive industries. The use of fiber-strengthened polymers in infrastructure initiatives, which include bridges and buildings, is on the upward thrust, driven by the need for long-lasting and corrosion-resistant materials. In the automotive industry, the demand for lightweight substances to improve gasoline efficiency preferred fiber-bolstered polymers. However, the fastest-growing region for fiber-reinforced polymers is the Asia-Pacific (APAC) region. Countries which include China and India are experiencing rapid industrialization and urbanization, leading to a multiplied demand for construction and infrastructure initiatives. The automobile industry is also growing notably in the APAC location, similarly boosting fiber-bolstered polymer demand.

Report Scope of the Fiber Reinforced Polymer Market:

Report Coverage Details
Market Size in 2022 USD 200.83 Billion
Market Size by 2030 USD 487.26 Billion
Growth Rate from 2023 to 2030 CAGR of 10.05%
Largest Market North America
No. of Pages 180
Market Drivers
  • Versatile properties of fiber reinforced polymer which can drive the market.

  • Growing demand for fiber reinforced polymers from end-use industries.

Market Segmentation By Product Type, and By End User
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global fiber reinforced polymer market covers segments such as product type, and end user. On the basis of product type, 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, ProlongComposites, HUBNER GmbH & Co. KG, SGL Carbon, Hengshui Jiubo Composites Co.,LTD., TORAY INDUSTRIES, INC., Aegion, and Hebei Weitong FRP CO., LTD..

Report Highlights:

The report provides deep insights into 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 forecasts from 2023-2030. 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.


Frequently Asked Questions (FAQ's)

The global fiber reinforced polymer market was valued at USD 200.83 Billion in 2022.
It is likely to grow at a CAGR of 10.05% during the forecast period 2023-2030.
The global fiber reinforced polymer market is estimated to reach USD 487.26 Billion by the end of 2030.
North America is anticipated to exhibit high demand for fiber reinforced polymer market during the forecast period.
Mitsubishi Chemical Corporation, MST Rebar Inc., BASF SE, ProlongComposites, HUBNER GmbH & Co. KG, SGL Carbon, Hengshui Jiubo Composites Co.,LTD., TORAY INDUSTRIES, INC., Aegion, and Hebei Weitong FRP CO., LTD..
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