Fiber Reinforced Polymers (FRP) Panels & Sheets Market - Global Industry Analysis and Trends By 2024

Fiber reinforced polymers (FRP) panels and sheets, also known as FRP composites, have a wide range of architectural applications. Early applications majorly included making marine products such as speed boats, sail boats, and wave runners. Characterized by the properties of corrosion resistance, impact resistance, and durability, FRP composites are finding myriad applications today. Owing to the amazing design flexibility that can be attained with FRP panels and sheets, they are being increasingly used for a wide spectrum of products ranging from making recreational equipment and high-rise buildings to components of commercial aircrafts.

FRP composites are widely used in diverse end-use industries, including construction, automotive and transportation, recreational and marine, and aerospace. The market has evolved rapidly over the past few years with the expanding architectural applications that demand corrosive conditions, such as underground storage tanks. Rapid pace of urbanization has led to the soaring demand for composites in a large number of building and construction designs.

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The report offers in-depth insight into the current market scenario, key drivers and restraints, emerging trends and opportunities, and market share and size of key segments. Technological advances in composite engineering expected to influence the competitive dynamics are analyzed in the report. The research study evaluates the key factors shaping the demand for FRP composites in various end-use industries. Recent developments in various developing and developed regions and product innovations brought by leading manufacturers are highlighted in the report.

Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Trends and Opportunities

The fiber reinforced polymers panels and sheets market is primarily driven by their wide ranging applications across diverse industry verticals, especially in architectural design and construction activities. The enormous design flexibility and high strength-to-weight ratios of FRP composites have bolstered their demand in various engineering designs. In particular, there is a spiraling demand for FRP composites in making turbines and aircraft bodies, fuelling the market growth in major regions. The ability of FRP composites to offer unique architectural features in complex facades and curvilinear shapes has made them increasingly popular in civil engineering applications for a variety of new constructions and remediation projects.

The use of FRP composites in exterior cladding applications has significantly enhanced the durability and reduced the seismic loads earlier not possible with traditional wood, masonry, or metals. The emerging applications of FRP composites in designing high technology recreational products and medical applications are expected to unlock abundant growth opportunities for the market players.

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Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Regional Outlook

North America is a prominent market for FRP panels and sheets. The impressive growth in the regional market is attributed to the increasing demand for FRP composites in the building and construction segment in various countries, particularly the U.S. A significant demand for FRP composites in the regional market comes from the architectural usage of FRP composites in activities related to reproduction or restoration of historic buildings. Advancement in fabrication processes and the use of advanced reinforcement materials have enlarged their structural and functional properties, propelling the North America market.

Asia Pacific market is expected to witness a substantial demand for FRP panels and sheets in various end-use industries. The rapid pace of urbanization has led to the demand for composites in different residential and commercial remediation projects. Competitive pricing and the availability of cheap labor for manufacturing FRP panels and sheets in countries such as China and India have impelled companies to shift their production plants to these countries. This is expected to unlock exciting opportunities for the market players.

Global Fiber Reinforced Polymers (FRP) Panels & Sheets Market: Competitive Landscape

Various FRP manufacturers use a variety of fillers and additives to achieve the required performance improvements of FRP composites, thus enhancing their performance. Major players operating in this market include Glasteel, Inc., Brianza Plastica S.p.A., Crane Composites Inc., U.S. Liner Company, Panolam Industries International Inc., LAMILUX Heinrich Strunz Group, Optiplan GmbH, and Polser Fiberglass Reinforced Plastics Inc.

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