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Fibre Reinforced Polymer Market

Global Fibre Reinforced Polymer Market Size, Share, Growth: By Product: Aramid, Glass, Carbon, Basalt, Others; By Resin Type; Polyester, Vinyl Ester, Epoxy, Others; By Manufacturing Process; By Application; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Fibre Reinforced Polymer Market Outlook

The global fibre reinforced polymer market is expected to grow at a CAGR of 11% in the forecast period of 2024-2032.

 

Fibre Reinforced Polymer Market

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Increasing Demand for Glass Fibre Reinforced Polymers (GFRP) to Aid the Fibre Reinforced Polymer Industry Growth

Based on product, glass fibre reinforced polymers (GFRP) lead the fibre reinforced polymer industry. This can be attributed to the high flexibility and strength of glass fibre reinforced polymers, however, they lack rigidity that is necessary for certain applications. Further, it has better resistance to chemical corrosion, which proves to be very useful in a variety of corrosive environments. Moreover, different composite-manufacturing techniques can be employed to produce GFRP at an economical rate. These factors are aiding the growth of the segment, which, in turn, is further contributing to the growth of the overall market.

 

Europe to Boost the Growth of the Fibre Reinforced Polymer Industry

Europe and North America account for a significant share in the industry. Within Europe, glass fibre reinforced systems (GRP) remained the dominant material in terms of quantity and accounted for more than 90% of reinforced plastics/composites production in the region. The major application sectors of glass fibre reinforced systems (GRP) are the construction and automotive sectors in Europe. Meanwhile, the Asia Pacific is expected to witness a healthy growth in the forecast period owing to the rapid industrialisation and urbanisation in the region and the increasing use of fibre reinforced polymers in engineering applications.

 

Fibre Reinforced Polymer: Market Segmentation

Fibre reinforced polymer (FRP) composite, also known as fibre reinforced plastic, is a polymer reinforced with fibre. It belongs to a class of materials that is referred to as composite materials. FRP composites are known for their strength as they have a high ratio of strength to density. They also possess exceptional corrosion resistance and convenient electrical, magnetic, and thermal properties as compared to traditional construction materials.

 

Fibre Reinforced Polymer Market by Segments

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By product, the market is divided into:

  • Aramid
  • Glass
  • Carbon
  • Basalt
  • Others

Based on resin type, the industry can be segmented into:

  • Polyester
  • Vinyl Ester
  • Epoxy
  • Others

On the basis of manufacturing process, the industry can be categorised into:

  • Pultrusion
  • Vacuum Infusion
  • Bladder Moulding
  • Compression Moulding
  • Thermoplastic Extrusion
  • Filament Winding
  • Others

By application, the industry can be divided into:

  • Automotive
  • Electronic
  • Defence
  • Energy
  • Construction
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Fibre Reinforced Polymer Market by Region

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Increasing Demand from Major Application Sectors to Bolster the Growth of the Fibre Reinforced Polymer Industry

The global fibre reinforced polymer industry is being driven by the increasing demand from major application sectors, particularly automotive and construction. The increasing demand can be attributed to the favourable properties of the product, particularly its exceptional corrosion resistance property, due to which it is becoming a popular alternative to various ferrous and nonferrous metals. Thus, the growing automotive industry and increasing infrastructure spending in emerging nations are significantly contributing to the market growth. Further, the increasing utilisation of fibre reinforced polymer in engineering applications because of its mechanical properties to obtain significant achievements in the functionality, safety, and economy of construction is also propelling the market growth.

The leading players are continuously working on a wide range of innovative products and product enhancements, such as the development of high-performance (carbon fibre reinforced) sheet moulding compound (SMC) and others, which is expected to significantly contribute to the industry growth in the forecast period.

 

Key Industry Players in the Global Fibre Reinforced Polymer Market

The report gives a detailed analysis of the following key players in the global fibre reinforced polymer market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Mitsubishi Chemical Corporation
  • BASF SE
  • Aegion Corporation
  • Toray Industries, Inc.
  • Celanese Corporation
  • Advanced Composites Inc.
  • SGL Carbon SE
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Resin Type
  • Manufacturing Process
  • Application
  • Region
Breakup by Product
  • Aramid
  • Glass
  • Carbon
  • Basalt
  • Others
Breakup by Resin Type
  • Polyester
  • Vinyl Ester
  • Epoxy
  • Others
Breakup by Manufacturing Process
  • Pultrusion
  • Vacuum Infusion
  • Bladder Molding
  • Compression Molding
  • Thermoplastic Extrusion
  • Filament Winding
  • Others
Breakup by Application
  • Automotive
  • Electronic
  • Defense
  • Energy
  • Construction
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Mitsubishi Chemical Corporation
  • BASF SE
  • Aegion Corporation
  • Toray Industries, Inc.
  • Celanese Corporation
  • Advanced Composites Inc.
  • SGL Carbon SE
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Fibre Reinforced Polymer Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Fibre Reinforced Polymer Historical Market (2018-2023) 
    8.3    Global Fibre Reinforced Polymer Market Forecast (2024-2032)
    8.4    Global Fibre Reinforced Polymer Market by Product
        8.4.1    Aramid
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Glass
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Carbon
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Basalt
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Fibre Reinforced Polymer Market by Resin Type
        8.5.1    Polyester
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Vinyl Ester
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Epoxy
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Fibre Reinforced Polymer Market by Manufacturing Process
        8.6.1    Pultrusion
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Vacuum Infusion
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Bladder Molding
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Compression Molding
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Thermoplastic Extrusion
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Filament Winding
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Others
    8.7    Global Fibre Reinforced Polymer Market by Application
        8.7.1    Automotive
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Electronic
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Defense
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Energy
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Construction
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Others
    8.8    Global Fibre Reinforced Polymer Market by Region        
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Fibre Reinforced Polymer Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Fibre Reinforced Polymer Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Fibre Reinforced Polymer Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Fibre Reinforced Polymer Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Fibre Reinforced Polymer Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Price Analysis

    16.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Mitsubishi Chemical Corporation
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    BASF SE
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Aegion Corporation
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Toray Industries, Inc.
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Celanese Corporation
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Advanced Composites Inc.
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    SGL Carbon SE
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Others
18    Key Trends and Developments in the Market

 


Additional Customisations Available

1    Manufacturing Process
    1.1    Detailed Process Flow
    1.2    Operations Involved
    1.3    Mass Balance
2    Project Requirements and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Key Figures and Tables

1.    Global Fibre Reinforced Polymer Market: Key Industry Highlights, 2018 and 2032
2.    Global Fibre Reinforced Polymer Historical Market: Breakup by Product (USD Billion), 2018-2023
3.    Global Fibre Reinforced Polymer Market Forecast: Breakup by Product (USD Billion), 2024-2032
4.    Global Fibre Reinforced Polymer Historical Market: Breakup by Resin Type (USD Billion), 2018-2023
5.    Global Fibre Reinforced Polymer Market Forecast: Breakup by Resin Type (USD Billion), 2024-2032
6.    Global Fibre Reinforced Polymer Historical Market: Breakup by Manufacturing Process (USD Billion), 2018-2023
7.    Global Fibre Reinforced Polymer Market Forecast: Breakup by Manufacturing Process (USD Billion), 2024-2032
8.    Global Fibre Reinforced Polymer Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Fibre Reinforced Polymer Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Fibre Reinforced Polymer Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Fibre Reinforced Polymer Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Fibre Reinforced Polymer Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Fibre Reinforced Polymer Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Fibre Reinforced Polymer Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Fibre Reinforced Polymer Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Fibre Reinforced Polymer Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Fibre Reinforced Polymer Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Fibre Reinforced Polymer Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Fibre Reinforced Polymer Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Fibre Reinforced Polymer Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Fibre Reinforced Polymer Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    North America Historical Price Trends and Forecast 2018-2028
23.    Europe Historical Price Trends and Forecast 2018-2028
24.    Asia Pacific Historical Price Trends and Forecast 2018-2028
25.    Latin America Historical Price Trends and Forecast 2018-2028
26.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
27.    Global Fibre Reinforced Polymer Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 11% between 2024 and 2032.

The major drivers of the industry include the growing popularity of the glass fibre reinforced polymers (GFRP), favourable properties of the product like corrosion resistance property, rapid industrialisation and urbanisation, and various technological advancements.

The  increasing demand from the major application sectors such as automotive and construction and the increasing utilisation in engineering applications are the key trends propelling the market growth.

The major regions in the industry are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific with Europe and North America accounting for the largest share in the market.

Glass fibre reinforced polymers (GFRP)is the dominant  product in the industry.

Based on resin type, the industry can be segmented into polyester, vinyl ester, and epoxy, among others.

On the basis of the manufacturing process, the industry can be categorised into pultrusion, vacuum infusion, bladder moulding, compression moulding, thermoplastic extrusion, and filament winding, among others.

The major applications include automotive, electronic, defence, energy, and construction, among others.

The major players in the industry are Mitsubishi Chemical Corporation, BASF SE, Aegion Corporation, Toray Industries, Inc., Celanese Corporation, Advanced Composites Inc., and SGL Carbon SE, among others.

Analyst Review

The global fibre reinforced polymer market is being driven by the increasing demand from the major application sectors such as automotive and construction. Aided by the growing technological advancements and growing research and development projects to produce innovative products, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on resin type, the global fibre reinforced polymer industry can be segmented into polyester, vinyl ester, and epoxy, among others. By product, the market can be divided into aramid, glass, carbon, and basalt, among others. Based on the process of manufacturing, the market can be classified into pultrusion, vacuum infusion, bladder molding, compression molding, thermoplastic extrusion, and filament winding, among others. On the basis of application, the market is divided into automotive, electronic, defense, energy, and construction, among others. The major regional markets for the global fibre reinforced polymer industry are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific, with Europe and North America accounting for the largest share of the market. The key players in the above market include Mitsubishi Chemical Corporation, BASF SE, Aegion Corporation, Toray Industries, Inc., Celanese Corporation, Advanced Composites Inc., and SGL Carbon SE, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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