‘Fiber Reinforced Plastic (FRP) Panels and Sheets Market to grow at 5.7% CAGR in 2021’– Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Fiber Reinforced Plastic (FRP) Panels and Sheets Market is anticipated to reach at 5.7% CAGR in 2021.

The research studies Fiber Reinforced Plastic (FRP) Panels and Sheets Market the trend period of 2010 to 2015 and forecasted period of 2016 to 2021 under four segments by Application Type (Recreational Vehicle, Building & Construction, Truck & Trailer, and Others), by Reinforcement Type (Glass Composites and Carbon Composites), by Matrix Type (Polyester Composites, Epoxy Composites, and Others), by Region (NA, Europe, APAC, ROW), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 – 2021

The study finds –
 Recreation vehicle is the major consumer of continuous FRP panels and sheets and is expected to remain the growth engine of the market during the forecast period.
 Glass fiber and polyester resins are the most widely preferred materials in the global FRP panels and sheets market and are expected to remain dominant reinforcement and matrix type.
 North America is expected to remain the largest FRP panels and sheets market during the forecast period.

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Fiber Reinforced Plastics (FRP) Panels and Sheets Market: Highlights
FRP panels and sheets accounted for less than 4% of the global panel market in 2015. It has overall low penetration in almost all of the applications across regions. Lightweight, excellent corrosion resistance, low manufacturing cost of FRP panel through continuous lamination process, good surface finish, and high strength to weight ratio of FRP panel, make it suitable for wide array of applications. It is one of the most promising panel type and is expected to grow faster than competing materials in coming years.

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The global fiber reinforced plastics (FRP) panels and sheets market offers good growth opportunity and is likely to grow at 5.7% CAGR during the forecast period of 2016 to 2021. Increasing recreational vehicle production in the US and Europe and increasing penetration of FRP panels in recreation vehicle, building and construction, and truck and trailer are some of the growth drivers in the global FRP panels and sheets market.

Recreation vehicle is the major consumer of continuous FRP panels and sheets and is expected to remain the growth engine of the market during the forecast period. Increasing penetration of FRP panels and increasing production of recreation vehicles driven by rising disposable income, rising number of baby boomers, and gaining popularity of outdoor activities especially in the US and Europe are some of the factor driving the FRP panels and sheets market.

Glass fiber and polyester resins are the most widely preferred materials in the global FRP panels and sheets market and are expected to remain dominant reinforcement and matrix type, respectively, during the forecast period. Both materials provide the perfect blend of price-performance ratio to most of the applications including recreational vehicles, building & construction, and truck & trailers.

North America is expected to remain the largest FRP panels and sheets market during the forecast period due to increasing recreational vehicle and truck & trailer production and increasing demand of lightweight products with superior strength. US is the major contributor to the North American FRP panels and sheets market. Most of the major FRP panels and sheets manufacturers have headquarters and key manufacturing locations in the US.

The supply chain of this market comprises raw material suppliers, machine suppliers, continuous FRP panel and sheet manufacturers, distributors, and original equipment manufacturers. The key raw materials suppliers are Owens Corning, Jushi, PPG Fiberglass, Ashland Inc., and Momentive and the key OEMs are Thor Industries, Forest River, Jayco, Grand Design, and Winnebago.

The key continuous FRP panel and sheet manufacturers are Crane composites, Lamilux, Glasteel and U.S. Liner. New product development using advanced materials, new application development and customer centric product development are the key strategies adopted by the key players to gain competitive edge in the market.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

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This release was published on openPR.