Fiber Reinforced Polymer Market by Application (Automotive, Construction, Electronics, Defense and Others),to undergo a CAGR of 11.80%

Fiber reinforced polymer is a composite material which consist polymer matrix reinforced with fibers. The fibres are usually glass aramid, carbon or basalt. Rarely, other fibres such as wood, paper, or asbestos have been used. The increasing use of fiber reinforced polymer in engineering applications due to its mechanical properties to attain significant accomplishments in the functionality, safety and economy in several industries.

The science and technology continues to grow at a constant pace due to steady research and development activities and advancements in technology. The importance of fiber reinforced polymers is growing day-by-day due to their several features such as strength, fatigue resistance, ease of shaping, high stiffness, and low density over steel and other nonferrous metals. The "Carbon fiber reinforced polymer" is the highest growing stimulus segment of the market due to their superior properties such as high strength, modulus of elasticity and low density over the forecast period.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-fiber-reinforced-polymer-market

Data Bridge Market Research analyses that the fiber reinforced polymer market is expected to undergo a CAGR of 11.80% during the forecast period. This indicates that the market value, which was USD 199.35 billion in 2021, would rocket up to USD 486.58 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Some of the major players operating in the fiber reinforced polymer market are:

BASF SE (Germany)

Mitsubishi Chemical Corporation (Japan)

Saint-Gobain (France)

AGC Inc.(Japan)

PPG Industries, Inc.  (U.S.)

MST Rebar Inc. (Canada)

Nippon Sheet Glass Co., Ltd (Japan)

Guardian Industries (U.S.)

SGL Carbon (Germany)

Saudi Arabian Amiantit Co (Saudi Arabia)

Veplas d.d. (Solvenia)

Graphite India Limited (India)

Fibrex (U.S.)

Smithlinecomposites (UAE)

Opportunities

Economic sustainability

The durability and long lifetime of fiber reinforced polymers. Fiber reinforced polymers products have saved money and time in that way, they do not need any on-site works or heavy lifting gear, feature and generally long maintenance-free service life. These are some factors which will act as market drivers and further increase beneficial opportunities for the market's growth rate.

Global Fiber Reinforced Polymer Market Scope

The fiber reinforced polymer market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

Glass Fiber Reinforced Composites

Carbon Fiber Reinforced Composites

Basalt Fiber Reinforced Composites

Aramid Fiber Reinforced Composites

Others

Application

Automotive

Construction

Electronics,

Defense

Others

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