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Global Pultrusion Market to Grow at a CAGR of 5% During 2022-2027, Aided by Rising Application of the Pultruded Products in Various End Use Industries

According to a new report by EMR titled, ‘Global Pultrusion Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 2 billion in 2021. The pultrusion industry is further expected to grow at a CAGR of 5% between 2022 and 2027 to reach USD 2.7 billion by 2027.

The pultrusion industry is driven by the rising application of pultruded products in various end use industries such as building and construction, industrial, automotive, and aerospace, among others. This can be attributed to the high mechanical strength and dimensional stability of the materials. The rapid urbanisation and industrialisation in emerging economies of the world is also supporting the market. The growing demand for pultruded polymers as an alternative to aluminium and steel in automotive applications is likely to be an aiding factor in the market.

In February 2021, Creative Pultrusion Inc., which is a subsidiary of Hill and Smith Holdings PLC (LON: HILS), announced the formation of Creative Composites Group, a new organisation which combines the fibre-reinforced polymer (FRP) composite products, manufacturing capabilities, field installation experience, and engineering capabilities of E.T. Techtonics, Tower Tech, Kenway Composites, and Composite Advantage.

In December 2021, Hexcel Corporation (NYSE: HXL) announced the collaboration with METYX to manufacture high-performance carbon pultruded profiles from polyurethane resin and unidirectional carbon fibre. This deal will provide high-performance composites to wind energy customers, expanding the market for composite applications.

In terms of region, the Asia Pacific is likely to account for a significant share in the market and is anticipated to witness a robust growth in the forecast period. The market in the region is driven by factors such as the expansion of glass fibre manufacturing companies, rising investments in end use industries of pultruded products, and technological advancements and innovations in the automotive industry.

Market Breakup by Fibre Type, Resin Type, Application, and Region:

  • The market is segmented based on fibre type into glass fibre and carbon fibre, among others.
  • The major resin types considered in the market report include polyester, polyurethane, and vinyl ester, among others.
  • The different applications in the pultrusion industry include industrial, construction, electrical, and automotive, among others.
  • Region-wise, the global market for pultrusion can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for pultrusion is being driven by the rising application of pultruded products in various end use industries including automotive, building and construction, and electrical, among others.
  • The growing demand for polymer pultruded products as an alternative to aluminium and steel in various applications is likely to propel the market growth in the forecast period.
  • The expansion of the fibreglass manufacturing companies in emerging economies is likely to provide impetus to the market.
  • The market will further be aided by the rising demand for durable and efficient products, possessing high mechanical strength.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for pultrusion for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the fibre types, resin types, applications, and regions of pultrusion.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global pultrusion market are Strongwell Corporation, Jiangsu Jiuding New Material Co Ltd, Creative Pultrusions Inc., Fibrolux GmbH, and JAMCO Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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