Press release
Fiber-Reinforced Composites Market to witness market growth at a rate of 6.1%, By Resin Type (Polyester, Vinyl Ester, Epoxy, Polyurethane, Thermoplastic, Others)
The fiber-reinforced composites market is expected to witness market growth at a rate of 6.1% in the forecast period of 2021 to 2028 and is expected to reach USD 136.5 billion by 2028. Data Bridge Market Research report on fiber-reinforced composites market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The increase in demand from end -user industries is escalating the growth of fiber-reinforced composites market.Fiber reinforced composites (FRC) include three portions namely interphase region as an interface, dispersed part and matrix as continues phase, where the matrix offers support in transferring the load to fibers. These composites are known to offer excellent strength, durability and versatility to the application products and weight reduction. They are used in various industries such as transportation, wind energy and aerospace among others.
View Detailed Report: https://www.databridgemarketresearch.com/reports/global-fiber-reinforced-composites-market
The rise in the demand for the composites from the transportation, electrical & electronics, wind energy and pipes & tanks industries acts as one of the major factors driving the growth of fiber-reinforced composites market. The increase in the number of wind energy capacity installations and growing usage of composite pipes in sewage & water management and oil & gas industry accelerate the fiber-reinforced composites market growth. The rise in the rate of fiber-reinforced composites adoption in the transportation industry, and the recovery of the U.S. marine industry further influences the fiber-reinforced composites market. Additionally, growing use of composites in the construction & infrastructure industry, expansion of end user industries, rapid industrialization and surge in investment positively affect the fiber-reinforced composites market. Furthermore, increase in demand for these composites from emerging economies extends profitable opportunities to the fiber-reinforced composites market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the processing and manufacturing, and issues related to recycling are the factors expected to obstruct the fiber-reinforced composites market growth. Problems with developing low-cost technologies are projected to challenge the fiber-reinforced composites market in the forecast period of 2021-2028.
Key Players Analysis
The major players covered in the fiber-reinforced composites market report are PPG Industries Inc., Owens Corning, Johns Manville, Yuntianhua Group Co. Ltd., Jushi Group, Saint-Gobain, ASAHI FIBER GLASS Co. Ltd., Nippon Sheet Glass Co. Ltd, AGY, CTG Group, Nitto Boseki Co. Ltd., Braj Binani Group, China Beihai Fiberglass Co. Ltd., BGF Industries Inc., SAERTEX GmbH & Co. KG, Jiangsu Jiuding New Materials Co. Ltd., Celanese Corporation, Quantum Composites, Reliance Industries Limited, PFG FIBER GLASS CORPORATION, Advanced Composites Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Fiber-Reinforced Composites Market Scope and Market Size
The fiber-reinforced composites market is segmented on the basis of resin type, manufacturing process and end-use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
On the basis of resin type, the fiber-reinforced composites market is segmented into polyester, vinyl ester, epoxy, polyurethane, thermoplastic and others.
On the basis of manufacturing process, the fiber-reinforced composites market is segmented into compression & injection molding process, layup, filament winding, pultrusion, resin transfer molding (RTM), and others.
On the basis of end-use industry, the fiber-reinforced composites market is segmented into wind energy, electrical & electronics, transportation, pipes & tanks, construction & infrastructure, marine, aerospace & defense and others.
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