Fiber Reinforced Plastic Panels and Sheets Market to experience an impressive growth of 5.7% during 2016-2021
February 10, 2020
Fiber Reinforced Plastics (FRP) Panels and Sheets Market offers good growth opportunity and is likely to grow at 5.7% CAGR during the forecast period of 2016 to 2021. Increasing recreational vehicle production in the US and Europe and increasing penetration of FRP panels in recreation vehicle, building and construction, and truck and trailer are some of the growth drivers in the global FRP panels and sheets market.
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Fiber Reinforced Plastic Panels and Sheets Market Segment Insights:
By Application Type:
Recreation vehicle is the major consumer of continuous FRP panels and sheets and is expected to remain the growth engine of the market during the forecast period. Increasing penetration of FRP panels and increasing production of recreation vehicles driven by rising disposable income, rising number of baby boomers, and gaining popularity of outdoor activities especially in the US and Europe are some of the factor driving the FRP panels and sheets market.
By Reinforcement Type:
Glass fiber and polyester resins are the most widely preferred materials in the global FRP panels and sheets market and are expected to remain dominant reinforcement and matrix type, respectively, during the forecast period. Both materials provide the perfect blend of price-performance ratio to most of the applications including recreational vehicles, building & construction, and truck & trailers.
By Region:
North America is expected to remain the largest FRP panels and sheets market during the forecast period due to increasing recreational vehicle and truck & trailer production and increasing demand of lightweight products with superior strength. US is the major contributor to the North American FRP panels and sheets market. Most of the major FRP panels and sheets manufacturers have headquarters and key manufacturing locations in the US.
Key Players:
The supply chain of this market comprises raw material suppliers, machine suppliers, continuous FRP panel and sheet manufacturers, distributors, and original equipment manufacturers. The key raw materials suppliers are Owens Corning, Jushi, PPG Fiberglass, Ashland Inc., and Momentive and the key OEMs are Thor Industries, Forest River, Jayco, Grand Design, and Winnebago.
The key continuous FRP panel and sheet manufacturers are Crane composites, Lamilux, Glasteel and U.S. Liner. New product development using advanced materials, new application development and customer centric product development are the key strategies adopted by the key players to gain competitive edge in the market.
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- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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