Market Size of FRP Panels and Sheets Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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FRP Panels and Sheets Market Analysis
The market for FRP panels and sheets is expected to grow at a CAGR of 6% globally during the forecast period. Increasing demand from the transportation industry along with growing demand from the building and construction industry are driving the market growth. On the flip side, higher production costs coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The FRP panels and sheets market is expected to grow during the forecast period owing to the increasing demand from the transportation industry.
- Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as India and China.
FRP Panels and Sheets Industry Segmentation
The FRP Panels and Sheets Market report include:
Fiber Type | |
Glass | |
Carbon | |
Others |
End-user Industry | |
Transportation | |
Building & Construction | |
Others |
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FRP Panels and Sheets Market Size Summary
The FRP panels and sheets market is poised for significant growth, driven primarily by increasing demand from the transportation and building sectors. These panels, made from fiber-reinforced plastics, are valued for their lightweight, durable, and heat-resistant properties, making them ideal for use in automobiles, recreational vehicles, and construction applications. Despite challenges such as high production costs and the lingering effects of the COVID-19 pandemic, the market is expected to expand, with the Asia-Pacific region, particularly India and China, leading in consumption. The transportation industry's need for lightweight composites is a key factor propelling this growth, as governments worldwide implement measures to revive the automotive sector post-pandemic.
In the building and construction industry, FRP panels and sheets are favored for their ease of repair, water resistance, and aesthetic appeal, making them suitable for both commercial and residential use. The market's expansion is further supported by substantial infrastructure investments in China and India, with government initiatives boosting demand. The market remains partially fragmented, with several key players like CRANE COMPOSITES, INC., Hill & Smith Holdings PLC, and Röchling holding a marginal share. These factors collectively contribute to a positive outlook for the FRP panels and sheets market over the forecast period.
FRP Panels and Sheets Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Transportation Industry
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1.1.2 Growing Demand from the Building and Construction Industry
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1.2 Restraints
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1.2.1 High Production Costs
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1.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Fiber Type
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2.1.1 Glass
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2.1.2 Carbon
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2.1.3 Others
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2.2 End-user Industry
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2.2.1 Transportation
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2.2.2 Building & Construction
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2.2.3 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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FRP Panels and Sheets Market Size FAQs
What is the current FRP Panels and Sheets Market size?
The FRP Panels and Sheets Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in FRP Panels and Sheets Market?
CRANE COMPOSITES, INC. , Hill & Smith Holdings PLC, Röchling, DOFRP and POLSER Şeffaf Çatı Örtüleri San. ve Tic. A.Ş. are the major companies operating in the FRP Panels and Sheets Market.