Press release
Global Fiber Reinforced Plastic (FRP) Market 2019 SWOT Analysis and Key Business Strategies by Industry Player's-Hexcel,Toray,Cytec, Teijin, TenCate,Mitsubishi Rayon,SGL Carbon forecast to 2025
Global Fiber Reinforced Plastic (FRP) Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than 15.0% over the forecast period 2018-2025. The Fiber Reinforced Plastic (FRP) Market is continuously growing in the global scenario at significant pace. Fiber-reinforced plastics (FRP) are a category of composite plastics specifically using fiber materials to mechanically enhance the elasticity and strength of the plastic. They consist of a polymer matrix - the original plastic which is usually tough but weak - which is blended with a reinforcing material to yield a final product with the desired material or mechanical properties.
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Growth in automotive sector, lower life cycle cost and increasing popularity of bio-based FRP are the substantial driving factors of the market during the forecast period. Moreover, growing demand growing demand from developing economies is the major factors that likely to create numerous opportunity in the near future. In addition, Fiber Reinforced Plastic (FRP) offers several benefits such as corrosion resistance lightweight, high strength, flexibility and so. With this benefits demand for Fiber Reinforced Plastic (FRP) is increasing among its end-users across the globe. However, high cost of production is one of the major factors that limiting the market growth of FRP during the forecast period.
Industry Insights:
The regional analysis of Global Fiber Reinforced Plastic (FRP) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to rising government initiatives and increasing usage of lightweight materials across the region. Europe is estimated to grow at stable growth rate in the global Fiber Reinforced Plastic (FRP) market over the upcoming years. Further, Asia-Pacific anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to rising construction and automotive sector in the region.
Major Players:
Hexcel
Toray
Cytec
Teijin
TenCate
Mitsubishi Rayon
SGL Carbon
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Market Segmentation:
By Type:
PAN-based
Pitch-based
By Application:
Aerospace
Energy
Construction
Infrastructure
Marine
Regions Covered:
North America
Europe
Asia Pacific
South America
Middle East & Africa
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