According to a new market report published by
Lucintel, the future of the global FRP panel market looks promising with
opportunities in the building and construction, truck and trailer, and
recreational vehicle industries.
The FRP panel market is expected to decline by 21% in 2020, but it is likely to
recover in 2021 to reach an estimated $1.3 billion by 2025 with a CAGR of 7.9%
from 2020 to 2025. The major drivers for this market are the increasing
residential and commercial construction activities and rising demand for
durable, corrosion resistant, and lightweight products in the construction and
truck and trailer industries.
In this
market, polyester, epoxy, and polypropylene are the major resin used to
manufacture FRP panels for various end use industries. Lucintel forecasts that polyester
based FRP panel will remain the largest segment, and it is also expected to
witness the highest growth over the forecast period due to its low cost and mostly used in applications,
such as side wall panels, roof, and floors.
Within the FRP
panel market, building and construction will remain the largest end use industry
due to growing demand for fiber reinforced plastics
in wall, roof, and floor panel applications. The recreational vehicle market is expected to witness
the highest growth over the forecast period due to increasing demand for
FRP panels which are lightweight, high performance, and low maintenance than
other traditional materials.
North America
will remain the largest region and it is also expected to witness the highest
growth over
the forecast period due to the growing residential and commercial construction
industry and increasing production of recreational vehicles and trucks & trailers.
Emerging trends, which have a direct impact on the dynamics of the industry,
include growing use of fire resistance resin in FRP panel manufacturing and rising
popularity of carbon composites in the recreational vehicle and truck and
trailer markets. Crane Composites, Lamilux Heinrich Strunz Group, US Liner
Company, Kalwall Corporation, Fibrosan, Panolam Industries, and Polser FRP
Panel Inc. are the major manufacturers of FRP panels.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global FRP panel market by end use industry, reinforcement, matrix type, resin
group, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global FRP Panel Market
2020-2025: Trends, Forecast, and Opportunity Analysis”. This Lucintel report serves as a
catalyst for growth strategies, as it provides comprehensive data and analysis
on trends, key drivers, and directions. The study includes trends and forecast
for the global FRP panel market by end use industry, fiber type, resin type,
resin group, and region as follows:
By End Use Industry [million
pounds and $ million shipment analysis for
2014 – 2025]:
- Building and Construction
- Trucks and Trailers
- Recreational Vehicles
- Others
By Fiber
Type [million pounds and $ million
shipment analysis for 2014 –
2025]:
- Glass Composites
- Carbon Composites
By Resin
Type [million pounds and $ million
shipment analysis for 2014 –
2025]:
- Polyester Based Composites
- Epoxy Based Composites
- PP Based Composites and Others
By
Resin Group [million
pounds and $ million shipment analysis for
2014 – 2025]:
- Thermoset Composites
- Thermoplastic Composites
By
Region [million pounds and $ million
shipment analysis for 2014 –
2025]:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South
Korea
- Others
- Rest of the World
- Middle
East
- Africa
- South
America
This 150 page research report will enable you
to make confident business decisions in this globally competitive marketplace.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit
us at helpdesk@lucintel.com. Lucintel
offerings include advanced materials reports, composite materials market report, strategic growth consulting, market
research due diligence
and business strategy consulting.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. We offer market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1
What are some of the most promising potential, high-growth opportunities for
the global FRP panel market by end use industry (building and construction,
trucks and trailers, recreational vehicles, and others), Fiber type (glass
composites and carbon composites), resin type (polyester composites, epoxy
composites and PP composites others), resin group (thermoset composites and
thermoplastic composites), and region (North America, Europe, Asia Pacific, and
Rest of the World)?
Q.2
Which segments will grow at a faster pace and why?
Q.3
Which regions will grow at a faster pace and why?
Q.4
What are the key factors affecting market dynamics? What are the drivers and
challenges of the FRP panel market?
Q.5
What are the business risks and threats to the FRP panel market?
Q.6
What are the emerging trends in the FRP panel market and the reasons behind
them?
Q.7
What are some changing demands of customers in the FRP panel market?
Q.8
What are the new developments in the FRP panel market? Which companies are
leading these developments?
Q.9
Who are the major players in the FRP panel market? What strategic initiatives
are being implemented by key players for business growth?
Q.10
What are some of the competitive products and processes in the FRP panel market,
and how big of a threat do they pose for loss of market share via material or
product substitution?
Q.11
What M&A activities did take place in the last five years in the FRP panel market?
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