Mitsubishi Chemical Corporation, BASF SE, Aegion Corporation, Toray Industries, Inc., Celanese Corporation, Advanced Composites Inc., and SGL Carbon SE, among others, are the major players in the global market for fibre reinforced polymer.
As per the analysis by Expert Market Research, the global fibre reinforced polymer market is expected to grow at a CAGR of 11% in the forecast period of 2022-2027, owing to the increasing demand for glass fibre reinforced polymer (GFRP).
Glass fibre reinforced polymers (GFRP) leads the market for fibre reinforced polymers. It has improved chemical corrosion resistance, which is highly helpful in a range of hostile conditions. Additionally, several composite manufacturing techniques can be used to make GFRP at a cost-effective rate. These factors are assisting the segment's growth, which is, in turn, boosting the market's overall growth.
Europe and North America account for a significant share of the market. GFRP is the dominant material in European nations due to its high flexibility and strength and has an increasing demand from the transport and construction sectors. It is expected that Asia Pacific will be a major region contributing to the fibre reinforced polymer market growth due to the increasing urbanisation and industrialisation.
Toray Industries Inc. announced in May 2021 that they had developed a high thermal conductivity technology that lifts the heat dissipating properties of carbon fibre reinforced plastic (CFRP) to that of metals. According to Toray, it made it feasible to ascertain the thickness and lamination locations of graphite sheets that are used to build thermal conduction channels. This made it possible to create a customisable thermal management design that regulates the heat diffusion and release channels for CFRP cooling efficiency.
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Mitsubishi Chemical supplies a wide range of materials and functional products supporting the foundation of various industries and providing solutions that contribute to solving many social issues. It is a subsidiary of Mitsubishi Chemical Holdings Corporation. One of their products is carbon fibre reinforced thermoplastic resin, which is used in a variety of applications.
BASF SE is a multinational chemical company and the largest producer of chemicals in the world. They try to meet the current and future requirements of their customers through science and innovation. Around 1,10,000 employees work for the group in six segments: Chemicals, Materials, Industrial Solutions, Nutrition and Care, Agricultural Solutions, and Surface Technologies.
|Headquarters:||Missouri, United States|
Aegion Corporation finds transformational solutions to regenerate ageing infrastructure, mainly pipelines in the water, wastewater, mining, energy, and refining industries. Aegion is the parent company of 11 brands that provide proprietary services and technologies for the corrosion protection of industrial pipelines. The company’s FRP system is designed to increase the structural performance of the existing RC, PCCP and steel pipes.
Toray is involved in the manufacturing, processing, and sales of the products like fibres and textiles, performance chemicals, carbon fibre composite materials, IT-related equipment, and medical devices, among others. The company operates in 29 countries and has 283 subsidiaries/ affiliates across the globe.
|Headquarters:||Texas, United States|
Celanese Corporation consists of a group of engineers, designers, scientists, product developers and many more who provide several solutions to their customers. They are the producer of products that make the lives of customers a little easier by bringing ideas and innovations to life. Approximately 7,500 employees work for them to help the customers by offering solutions. They manage a global network of commercial offices, technical centres, strategic affiliate production facilities and production facilities.
|Headquarters:||Utah, United States|
Mitsui Chemicals established Advanced Composites Inc by merging two major automotive TPO companies. It is a carbon fibre and fibreglass composites company with integrated custom engineering and quality assurance programs. The company is one of the best filament winding companies in North America. It manufactures carbon fibre and fibreglass composite products for defence, aerospace, and commercial application. Advanced Composites Inc. produces many fibreglass composite products like cataract oars SGX oar shaft, a fibreglass interlaced with carbon fibre in a layered composite matrix.
SGL Carbon offers unique graphite and composite materials and products. The core business comprises four units: Carbon Fibres, Graphite Solutions, Composite Solutions, and Process Technology. They provide both raw materials and finished products along with high-quality tailor-made solutions. They have 29 production sites worldwide and customers in over 80 countries.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.