Global Fiber Reinforced Composites Market is estimated to reach USD 125 million by 2026, at a CAGR of about 40%.
Fibre reinforced composites perform well than steel. Fiber-reinforced composites are becoming a substitute to various ferrous and nonferrous metals. Fiber-reinforced composites are combination of plastic polymer resin and reinforcing fibers. Product reflects unique properties such as strength & stiffness of the raw materials used, resulting in an enhanced overall performance of the product. High strength to weight ratio, corrosion resistance, energy absorption on impact, moisture and chemical resistance and electrical properties offered by composites are the key reason for their increased proclivity in the automotive segment hence driving the fiber-reinforced composites market.
Based on material used in fiber reinforced composite market is segmented into glass fiber reinforced composite, carbon fiber reinforced composite and aramid fiber reinforced composite . Out of these three carbon fiber reinforced composite segment is leading a market throughout the forecast period. carbon fiber reinforced composite is lightweight. Carbon fiber reinforced composite also possess some mechanical properties such as low density, low strength, and modulus of elasticity than other fiber reinforced composite composites. But also have some disadvantages such as high cost and conductivity, hence used in selective application. Glass over carbon fibers owes better conductivity. Glass material can be used where conductivity is the preference. Aramid denotes a considerable share of fiber demand, on account of their higher prices on a per pound basis.
End use segmentation of Fiber-reinforced composites market can be made into automotive, building and construction, aerospace, electrical & Electronics and electrical, marine and sports and leisure. Fiber-reinforced composites growing in construction and aerospace followed by automotive construction segment leading Fiber-reinforced market and constitutes nearly one-third of demand will grow at the speedy rate through the forecast period. Strong growth will be continued in residential building construction, growth for windows, doors and bathroom components such as bathtubs and showers. Automotive segment is the next largest market, will also grow at a tremendous rate, in medium and heavy duty vehicles. Electrical and electronic is predicted to increase at a measurable rate.
Regional segmentation fiber-reinforced composites market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constitute the largest share for fiber reinforced composites market and will continue its emergence in forecast period. Europe is experiencing steady growth while Latin America and Middle East and Africa are noticing irregular growth patterns. Asia Pacific is expected to witness the highest market growth.
BASF SE, E. I. du Pont de Nemours and Company, Hexcel Corporation, Huntsman International LLC., Reliance Industries Limited, Owens Corning, Toray Industries Inc., TPI Composites, Inc., Nippon Electric Glass Company Limited, Kineco Kaman Composites-India Private Limited, PLASAN CARBON COMPOSITES, RTP Company, Enduro Composites, Inc., COTESA GmbH, HITCO Carbon Composites, Inc., The Quadrant Group of Companies are major players contributing to Fiber-reinforced Composites Market.
Scope of the Global Fiber-Reinforced Composites Market
Global Fiber-Reinforced Composites Market By Material Type:
Global Fiber-Reinforced Composites Market, By End-Use:
• Building and Construction
• Electrical & Electronics and electrical
• Sports and Leisure
Global Fiber-Reinforced Composites Market By Region:
• Asia Pacific
• North America
• Middle East & Africa
• Latin America
Key Players Analysed In Global Fiber-Reinforced Composites Market:
• BASF SE
• E. I. du Pont de Nemours and Company
• Hexcel Corporation
• Huntsman International LLC.
• Reliance Industries Limited
• Owens Corning
• Toray Industries Inc. TPI Composites Inc.
• Nippon Electric Glass Company Limited
• Kineco Kaman Composites-India Private Limited
• PLASAN CARBON COMPOSITES
• RTP Company
• Enduro Composites, Inc.
• COTESA GmbH
• HITCO Carbon Composites Inc.
• The Quadrant Group of Companies
• American Fiberglass Rebar
• American Grating, LLC
• Engineered Composites Ltd
• B&B FRP Manufacturing INC.
• TUF-BAR; FRP Composites Inc.
• Ten Cate NV
• Zoltek Companies, Inc.
• Hyosung Corporation
• Mitsubishi Rayon Co.Ltd.
• SGL Group
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