Fiber Reinforced Plastic (FRP) Composites Market Revenue was valued at USD 19.58 Billion in 2024 and is estimated to reach USD 30.82 Billion by 2033, growing at a CAGR of 5.3% from 2026 to 2033.
The Fiber Reinforced Plastic (Frp) Composites Market Has Seen Substantial Growth, Driven By The Rising Demand For Lightweight, Durable, And Corrosion Resistant Materials Across Various Industries Such As Automotive, Aerospace, Construction, And Marine. In 2022, The Market Size Was Valued At Approximately Usd 110.7 Billion, With An Expected Compound Annual Growth Rate (Cagr) Of 6.1% From 2023 To 2030. The Growing Focus On Sustainability And The Increasing Need For Energy Efficient Solutions Have Further Propelled The Adoption Of Frp Composites. These Materials Are Preferred For Their Superior Strength To Weight Ratio, Ease Of Maintenance, And Cost Effectiveness, Enabling Significant Advances In Product Innovation.
Market Size In 2022: Usd 110.7 Billion
Expected Cagr (2023 2030): 6.1%
Key Drivers: Increased Demand In Automotive, Aerospace, And Construction Sectors
Factors: Growing Focus On Sustainability And Energy Efficiency
Material Advantages: Strength To Weight Ratio, Durability, Corrosion Resistance
Recent Advancements In Frp Technology Are Enhancing The Performance And Applications Of These Composites. Key Innovations Include The Development Of Bio Based Resins, Improvements In Manufacturing Techniques Like Vacuum Infusion, And The Integration Of Smart Technologies Into Frp Composites. These Technologies Are Expanding The Scope Of Frp Use In Sectors Like Renewable Energy (E.G., Wind Turbine Blades) And Electrical Engineering. The Continuous Evolution In Frp Composites Technology Ensures Their Pivotal Role In Supporting The Transition Towards More Sustainable, Eco Friendly Industrial Practices, While Opening Up New Market Opportunities For Advanced Applications.
Recent Innovations: Bio Based Resins, Vacuum Infusion Techniques, Smart Technologies
Expanding Applications: Renewable Energy (Wind Turbines), Electrical Engineering
Market Trends: Transition To Eco Friendly Industrial Practices
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BASF
DuPont
Owens Corning
PPG Industries
Premix Incrporated
AGY Holding Corporation
AOC
Ferro Corporation
Hanwha Group
Huntsman
Hexcel Corporation
Interplastic Corporation
PolyOne Corporation
Rogers Corporation
RTP Company
Saudi Basic Industries Corporation
Teijin
Schulman (A.) Incrporated
Total
Strongwell Corporation
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Fiber Reinforced Plastic (FRP) Composites Market
Glass Fiber Reinforced Plastic (GFRP)
Carbon Fiber Reinforced Plastic (CFRP)
Aramid Fiber Reinforced Plastic (AFRP)
Natural Fiber Reinforced Plastic (NFRP)
Others (e.g., basalt, jute)
Polymer Matrix Composites (PMC)
Metal Matrix Composites (MMC)
Ceramic Matrix Composites (CMC)
Hybrid Matrix Composites
Hand Lay-up
Spray-up
Filament Winding
Resin Transfer Molding (RTM)
Pultrusion
Prepreg Lay-up
Aerospace
Automotive
Construction
Marine
Electrical & Electronics
Wind Energy
Consumer Goods
Sports Equipment
OEMs (Original Equipment Manufacturers)
Aftermarket
End-users
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Fiber Reinforced Plastic (FRP) Composites Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Fiber Reinforced Plastic (FRP) Composites Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Fiber Reinforced Plastic (FRP) Composites Market, By Type
6. Global Fiber Reinforced Plastic (FRP) Composites Market, By Application
7. Global Fiber Reinforced Plastic (FRP) Composites Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Fiber Reinforced Plastic (FRP) Composites Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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