Right Now
Fiber Reinforced Polymer (FRP) Composites Market Expected to
Witness High Growth over the Forecast to 2030
Fiber
Reinforced Polymer (FRP) Composites Market size was estimated at USD
99,500 million in 2024 and is projected to reach USD 157,696.4 million in 2031
at a CAGR of 6.8 % during the forecast period 2025-2031.
Fiber Reinforced Polymer (FRP) composites are advanced
materials that combine a polymer matrix with fiber reinforcements, such as
glass, carbon, or aramid, to enhance the mechanical properties of the base
material. These composites offer exceptional strength-to-weight ratios,
corrosion resistance, and flexibility, making them ideal for use in a wide
range of industries.
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The scope of the FRP composites market is extensive,
spanning various applications across numerous industries. In construction, FRP
materials are used for reinforcement in bridges, buildings, and infrastructure
projects, offering superior durability and resistance to environmental
degradation. In automotive and aerospace, they contribute to reducing the
overall weight of vehicles and aircraft, leading to improved fuel efficiency
and performance.
Delvens Industry
Expert's Standpoint
Experts in the Fiber Reinforced Polymer (FRP) Composites
Market highlight several key trends driving growth and innovation. The Fiber
Reinforced Polymer (FRP) composites market is driven by the demand for
lightweight, durable, and high-performance materials, with applications across
industries like construction, automotive, aerospace, and renewable energy. FRP
composites offer superior strength-to-weight ratios, corrosion resistance, and
versatility compared to traditional materials, making them ideal for
reinforcing infrastructure, reducing vehicle weight, and enhancing the
performance of wind turbine blades.
Recent Developments
·
In May
2024, Hexcel Corporation highlighted its commitment to sustainability by
announcing a 10-year partnership with Fairmat, an international recycler of
carbon fiber composite materials. Fairmat recently launched a large recycling
facility near Hexcel's Salt Lake City location. Both companies are focused on
delivering long-term sustainable solutions.
·
In
October 2023, Mitsubishi Chemical Group Corporation revealed its acquisition
of CPC, an Italian manufacturer of carbon fiber composite components. CPC
specializes in producing automobile parts made from carbon fiber reinforced
plastic (CFRP). This acquisition enables Mitsubishi Chemical Group to enhance
its carbon fiber supply chain.
The Prominent Players
in the Fiber Reinforced Polymer (FRP) Composites Market are
·
Avient Corporation
·
Hexcel Corporation
·
Mitsubishi Chemical Group Corporation
·
Plasan
·
Röchling SE & Co. KG
·
SABIC
·
SGL Carbon
·
Solvay
·
TORAY INDUSTRIES, INC.
·
TPI Composites Inc. and More
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Recent Developments
·
In May
2024, Hexcel Corporation highlighted its commitment to sustainability by
announcing a 10-year partnership with Fairmat, an international recycler of
carbon fiber composite materials. Fairmat recently launched a large recycling
facility near Hexcel's Salt Lake City location. Both companies are focused on
delivering long-term sustainable solutions.
·
In
October 2023, Mitsubishi Chemical Group Corporation revealed its
acquisition of CPC, an Italian manufacturer of carbon fiber composite components.
CPC specializes in producing automobile parts made from carbon fiber reinforced
plastic (CFRP). This acquisition enables Mitsubishi Chemical Group to enhance
its carbon fiber supply chain.
The Fiber Reinforced
Polymer (FRP) Composites Market is segmented into various segments such as
Product material, Application and Region.
Based on Product
Material
·
Glass Fiber Reinforced Polymer (GFRP) Composites
·
Carbon Fiber Reinforced Polymer (CFRP)
Composites
·
Basalt Fiber Reinforced Polymer (BFRP)
Composites
Based on Application
·
Automotive
·
Construction
·
Electronic
·
Defense
·
Others
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In addition to the
market data for the Fiber Reinforced Polymer (FRP) Composites Market, Delvens
offers client-centric reports customized according to the company’s specific
demand and requirements.
Reasons to Acquire
·
Increase your understanding of the market for
identifying the most suitable strategies and decisions based on sales or
revenue fluctuations in terms of volume and value, distribution chain analysis,
market trends, and factors.
·
Gain authentic and granular data access for the
Fiber Reinforced Polymer (FRP) Composites Market to understand the trends and
the factors involved in changing market situations.
·
Qualitative and quantitative data utilization to
discover arrays of future growth from the market trends of leaders to market
visionaries and then recognize the significant areas to compete in the future.
·
In-depth analysis of the changing trends of the
market by visualizing the historic and forecast year growth patterns.
More Related Reports:
Natural Fiber Composites Market
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