FRP Panels And Sheets Market Size 2024-2028
The frp panels and sheets market size is forecast to increase by USD 186.5 million at a CAGR of 7.08% between 2023 and 2028.
- The FRP (Fiber Reinforced Polymer) Panels and Sheets market is experiencing significant growth, driven by the global push towards urbanization and infrastructure development. The increasing demand for sustainable and durable building materials has led to a heightened focus on FRP panels and sheets as an alternative to traditional materials. Moreover, the trend towards green buildings is further fueling market growth, as these panels and sheets offer excellent energy efficiency and reduced environmental impact. However, it is essential to acknowledge the health hazards associated with the production and installation of FRP panels and sheets, which may pose challenges for market expansion.
- Producers must prioritize safety measures and transparency to mitigate these concerns and capitalize on the vast opportunities presented by this dynamic market. Companies seeking to capitalize on these trends and navigate challenges effectively should focus on innovation, sustainability, and safety to maintain a competitive edge.
What will be the Size of the FRP Panels And Sheets Market during the forecast period?
- The market for fiber reinforced polymer (FRP) materials, including high strength FRP panels and sheets, is experiencing significant growth in various industries. The continuous lamination process enables the production of lightweight yet strong FRP sheets, making them ideal for use in the automotive sector, particularly in truck and trailer manufacturing and recreational vehicles. The free-foam structure of these panels provides additional benefits such as fire resistance and heat resistance. In the building and construction sector, FRP panels are valued for their environmental resistance, high stability, and chemical resistance. The polymer matrix used in these composites ensures durability and stiffness, making them a preferred choice for infrastructure projects.
- The fibers used in FRP panels offer enhanced fire resistance and heat resistance, making them suitable for use in high-risk applications. Fiberglass composite panels are gaining popularity due to their versatility and ability to withstand extreme temperatures and environmental conditions. The use of FRP panels in automobiles and building and construction applications is expected to continue growing, driven by the need for lightweight, strong, and durable materials. The continuous advancements in the production process and the increasing demand for sustainable and eco-friendly materials are expected to further fuel the growth of the market. The high stability and chemical resistance of these materials make them a preferred choice for various industries, including automotive and building and construction.
How is this FRP Panels And Sheets Industry segmented?
The frp panels and sheets industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
- End-user
- Automotive
- Building and construction
- Aerospace
- Others
- Geography
- North America
- US
- Europe
- Germany
- UK
- APAC
- China
- Japan
- South America
- Middle East and Africa
- North America
By End-user Insights
The automotive segment is estimated to witness significant growth during the forecast period.
FRP panels and sheets, comprised of a polymer matrix reinforced with fibers such as carbon or glass, are gaining significant traction in various industries. In the automotive sector, these lightweight yet high-performance materials are increasingly being utilized for exterior components, interior wall panels, and structural components in cars, trucks, recreational vehicles, and trailers. The advantages of FRP panels and sheets are manifold: they offer increased durability, dimensional stability, and resistance to corrosion, heat, and UV rays. Additionally, their low weight contributes to improved fuel efficiency and reduced carbon emissions, making them an attractive option for automotive production.
Modern construction techniques employ continuous lamination processes to create these panels, ensuring high strength and precision. The building and construction industry also benefits from FRP sheets, which provide excellent thermal expansion control and waterproof installation for commercial properties and residential structures. In the realm of consumer products, fiberglass composite panels are used for electronics and electrical enclosures due to their chemical resistance and high stability. Overall, the versatility and superior physical characteristics of FRP panels and sheets make them an indispensable component of contemporary infrastructure and construction activities.
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The Automotive segment was valued at USD 107.70 million in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to the increasing demand for consumer goods and the expanding utilization of these composites in the construction industry. In the building and construction sector, FRP panels and sheets are employed to produce lightweight structures, storage tanks, and door and window frames and panels. The North American construction market is projected to expand at a compound annual growth rate (CAGR) of over 3.5% between 2021 and 2025. Moreover, the in construction activities throughout the US will fuel the demand for FRP panels and sheets during this period.
FRP composites, including fiberglass sheets and bead sheets, are increasingly preferred for their high tensile strength, stiffness, and durability. They offer superior resistance to environmental factors such as corrosion, fire, and UV rays, making them suitable for exterior applications in both commercial and residential properties. Furthermore, the continuous lamination process used in the manufacturing of FRP panels and sheets ensures dimensional stability and high strength. The automotive sector also contributes to the growth of the market in North America. These composites are used extensively in automotive production for exterior applications, including body panels and roofing, due to their lightweight and high performance properties.
In the automotive industry, fiber-reinforced polymers are replacing traditional materials like steel and aluminum to reduce vehicle weight and improve fuel efficiency. In the recreational vehicle industry, FRP composite panels are gaining popularity due to their low weight, high stability, and resistance to thermal expansion. These panels are used in the production of trailers, motorhomes, and campers, enhancing their durability and overall performance. In the electronics and electrical industry, FRP panels and sheets are used for their excellent chemical resistance and environmental resistance properties. They are employed in the manufacturing of electrical enclosures, battery boxes, and other protective structures.
The availability of various fibers, including carbon, aramid, basalt, and glass, and the advancements in modern construction techniques make FRP panels and sheets an attractive alternative to traditional materials for various applications. The market is expected to continue growing, driven by the increasing demand for affordable housing solutions, the adoption of environmental norms, and the need for lightweight and high-performance materials.
Market Dynamics
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
What are the key market drivers leading to the rise in the adoption of FRP Panels And Sheets Industry?
- Rise in urbanization and infrastructure development is the key driver of the market.
- The composite industry's primary consumer is the construction sector, which benefits from the material's design versatility, corrosion resistance, durability, ease of installation, and weatherproofing properties. In the construction industry, composites are utilized in various applications such as walls, roofs, flooring, windows, doors, and the substitution of steel beams in structures and infrastructure. The global urban population is projected to increase substantially during the forecast period, leading to a significant rise in the number of smart cities due to urban congestion in major metropolitan areas.
- Governments of countries like India, Indonesia, and Thailand are implementing initiatives to stimulate their construction industries, thereby enhancing their economic conditions during the forecast period.
What are the market trends shaping the FRP Panels And Sheets Industry?
- Global emphasis on green buildings is the upcoming market trend.
- FRP panels and sheets have gained significant traction in the construction industry due to their role in creating passive or low-energy buildings, a key aspect of green building design. The use of energy-efficient glass fiber, such as low-E glass, is a notable factor driving this trend. Green buildings offer several benefits, including increased asset value, reduced cooling, lighting, and energy costs by 25-40%, minimized environmental impact, decreased operating and water costs, and a shorter payback period by 3-4 years. In response to escalating energy costs and the demand for sustainable solutions, the construction sector is embracing energy-efficient methods and investing in energy-efficient technologies.
- The adoption of FRP panels and sheets is a strategic move towards enhancing the sustainability and efficiency of buildings without compromising service quality.
What challenges does the FRP Panels And Sheets Industry face during its growth?
- Health hazards associated with FRP panels and sheets is a key challenge affecting the industry growth.
- FRP panels and sheets, utilized in numerous industries including buildings and construction, automotive, and consumer goods, present health concerns due to their fiberglass content. The small size of these particles allows for easy ingress into the body, potentially leading to various diseases. Workers engaged in insulation processes, particularly in building maintenance, are at increased risk. Short-term exposure, such as direct contact or inhalation of fiberglass dust, can cause irritation to the skin, nose, and throat. Prolonged exposure may result in more serious health issues, including asthma, bronchitis, lung infection, and lung cancer.
- Symptoms of fiberglass exposure include nasal irritation, headache, dizziness, and nausea, with severity depending on the concentration of inhaled fiberglass resins. As a , it is crucial to acknowledge and address these health risks associated with FRP panels and sheets.
Exclusive Customer Landscape
The frp panels and sheets market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the frp panels and sheets market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, frp panels and sheets market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Ashinishi Mktg. and Engg. CO. - The company specializes in providing Fiberglass Reinforced Polymer (FRP) solutions, engineered for versatility across various applications, including billboards and architectural embellishments. FRP's inherent strength, durability, and resistance to environmental factors make it an ideal choice for numerous industries and projects. This advanced material offers significant benefits, such as reduced maintenance requirements and increased sustainability, contributing to long-term cost savings and project success.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Ashinishi Mktg. and Engg. CO.
- Bansal Roofing Products Ltd.
- Brianza Plastica Spa
- Crane Holdings Co.
- Dongguan MIYABI-FRP
- Grupo Verzatec SA de CV
- Higoal FRP
- Hill and Smith Holdings Plc
- Intec FRP Products
- Kalwall Corp.
- LAMILUX Heinrich Strunz Holding GmbH and Co. KG
- Panolam Industries International Inc.
- POLSER Composite Products Industry and Trade Inc.
- Redwood Plastics and Rubber
- Rochling SE and Co. KG
- Shiv Shakti Fiber Udyog
- Strongwell Corp.
- Taizhou Zhongsheng FRP Co. Ltd.
- US Liner Co.
- VETRORESINA LLC
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Research Analyst Overview
The infrastructure sector has witnessed a significant in construction activities, leading to an increased demand for high-performance materials. Fiber Reinforced Polymer (FRP) panels and sheets have emerged as a popular choice due to their strength and versatility. These materials offer superior tensile strength, stiffness, and durability, making them suitable for various applications in the building and construction industry. FRP panels and sheets are manufactured through a continuous lamination process, which involves the use of plastics and fibers. The availability of various fibers, including carbon, basalt, aramid, and glass, allows for the production of panels with unique physical characteristics. The lightweight nature of these materials makes them an attractive option for consumer products and commercial properties, as they contribute to fuel efficiency and reduced carbon emissions.
The automotive sector has also embraced the use of FRP materials in vehicle production. The lightweight nature of these materials enables the production of electric vehicles (EVs) with improved fuel efficiency and reduced carbon emissions. The exterior of automobiles can be enhanced with FRP composite panels, which offer chemical resistance, high stability, and heat resistance. In the recreational vehicle industry, FRP sheets are used to manufacture trailers and recreational vehicles due to their lightweight and high-performance properties. These materials offer resistance to corrosion, UV rays, and temperature tolerance, ensuring the durability and longevity of the vehicles. The electronics and electrical industry also benefits from the use of FRP materials in the production of exterior and interior wall panels.
These panels offer excellent electrical insulation properties and are resistant to fire, making them an ideal choice for modern construction techniques. The use of FRP materials in exterior construction has gained popularity due to their ability to withstand extreme weather conditions and thermal expansion. The materials offer high dimensional stability and can be used in roofing applications, contributing to the stability and durability of structures. In the transportation sector, FRP materials are used as structural components, offering high strength and low weight. The materials are also used in the production of bead sheets for insulation and soundproofing applications. In , the market for FRP panels and sheets is witnessing significant growth due to their versatility and high-performance properties.
The materials offer numerous benefits, including strength, durability, lightweight, and resistance to various environmental factors. The continuous advancements in the production process and the availability of various fibers ensure that FRP materials remain a popular choice for various industries, including infrastructure, construction, automotive, and electronics.
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Market Scope |
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Report Coverage |
Details |
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Page number |
131 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
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Market growth 2024-2028 |
USD 186.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.48 |
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Key countries |
US, China, Germany, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What are the Key Data Covered in this FRP Panels And Sheets Market Research and Growth Report?
- CAGR of the FRP Panels And Sheets industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the frp panels and sheets market growth of industry companies
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