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.
In 2023, the global Fiber Reinforced Plastic (FRP) Composites market was valued at USD 91.21 billion and is projected to grow to USD 189.80 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7.6% during the forecast period. The Asia Pacific region led the market, accounting for 43.59% of the global share in 2023, driven by rapid industrialization and infrastructure development in countries like China and India. North America followed, with the United States alone projected to reach a market value of USD 43.67 billion by 2032, attributed to the increasing adoption of FRP composites in automotive, construction, and aerospace industries.Europe also demonstrated significant market presence, with Germany at the forefront due to its robust automotive and aerospace sectors. In terms of fiber types, glass fiber reinforced polymers dominated the market with a 70% share, while carbon fibers, though holding a 20% share, were the fastest growing segment, fueled by demand in high performance applications. The automotive sector emerged as the largest application segment, contributing 40.2% to the market in 2023, as manufacturers increasingly utilized FRP composites for components like door panels and vehicle interiors to achieve weight reduction and enhanced performance.
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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. 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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