Global FRP Sheets & Panels Market Size By Application, By Geographic Scope And Forecast
FRP Sheets and Panels Market Size And Forecast
FRP Sheets and Panels Market was valued at USD 0.96 Billion in 2019 and is projected to reach USD 1.64 Billion by 2027, growing at a CAGR of 7% from 2020 to 2027.
Global FRP Sheets and Panels Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing demand for FRP sheets and panel from the building and construction industry and increasing demand for electric vehicles as many OEM and automotive manufacturers are shifting their needs to weightless and better fuel efficiency product that in turn demand FRP sheets and panel. Moreover, wide number of applications in various industries such as aerospace, electrical, transportation, and most prominent building and construction is propelling the market growth. As per Oxford Economics, which is considered as leader in global forecasting and quantitative analysis, construction industry is expected to grow at an average annual growth rate of 3.9% p.a. till 2030. FRP is mainly used in production of sidewalls panel, floor panel, roof panel, door skin and also many other that is directly responsible for boosting FRP market. Nevertheless, substitutes available in markets such as aluminum, TPUs, TPOs, engineered plastics and many other metal alloys are restricting the market growth of FRP sheets and panel market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The Global FRP Sheets and Panels Market is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global FRP Sheets and Panels Market Competitive Landscape
The Global FRP Sheets and Panels Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as U.S. Liner Company (U.S.), Brianza Plastica SpA (Italy), Crane Composites Inc. (U.S.), Glasteel Inc. (U.S.), Optiplan GmbH (Germany), Polser Fiberglass Reinforced Plastics Inc. (Turkey), Panolam Industries International Inc. (U.S.) and LAMILUX Heinrich Strunz Group (Germany).
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