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Fiber Reinforced Plastic (FRP) Panels & Sheets Market: Statistics by 2019-2025, Top Trends & Growth Drivers

Author : Rahul Varpe | Published Date : 2019-07-04 

The Fiber Reinforced Plastic (FRP) Panels & Sheets Market is growing at a rapid pace due to the unique set of properties it possesses such as fire resistance, superior strength and resistance to the harsh chemicals. These are flexible and thin plastic panels made of sturdy polyester resin that is reinforced by blending two or more materials. 

The FRP panels and sheets have widespread applications in the building & construction industry such as interior wall panels, roofing and exterior façade that is expected to augment the product market size during the forecast period. Moreover, it also offers low cost installation, maximum sanitation protection, dependable performance, superior flexibility, resistance to shattering and scratches and hassle free maintenance that is projected to boost the FRP panels and sheets market size in the near future.

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Automotive and OEM manufacturers are advancing technologies and shifting their need for innovative materials to reduce vehicle weight, better fuel efficiency and achieve carbon emission control. The drift towards FRP sheets and panels offers several structural and weight benefits over conventional steel and injection molded automotive parts. Stringent government regulations for fuel efficiency and vehicular safety are expected to drive the product demand for lightweight vehicles. 

Additionally, consumption for FRP panels and sheets has escalated considerably in the production of aircrafts. It provides greater flexibility, as these reinforced materials can be altered to meet design requirements that will propel the Fiber Reinforced Plastic (FRP) Panels & Sheets Market size in the projected timespan. Nevertheless, availability of substitute products such as aluminum, engineered plastics, TPUs, TPOs and other metal alloys may prove to be an obstacle in the growth of the product market.

Based on the end-use industries, the Fiber Reinforced Plastic (FRP) Panels & Sheets Market is classified into building and construction, automotive and aerospace, transportation, electronics and electrical, consumer products and some others. Automotive and aerospace industry is projected to record the maximum share in the product market size. The product is broadly used in the production of roof panels, sidewall panels, floor panels, door skins etc. that will directly augment the FRP panels and sheets industry size in the coming years.

Asia Pacific is estimated to grow at a significant CAGR in the FRP panels & sheets market due to growing per capita income and rising infrastructure spending in the developing economies including China, India and Malaysia. Moreover, the presence of major automobile manufacturers such as Toyota, Honda, Nissan, KIA, TATA Motors etc. are mounting the demand for FRP products in the region for reducing the vehicular weight and improving fuel efficiency. Owing to the set of unique features it owns, the FRP panels and sheet market size will grow affluently in the projected timeframe.

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 The major Fiber Reinforced Plastic (FRP) Panels & Sheets Market players contributing in the FRP panels & sheets market includes Glasteel, Inc., Crane Composites Inc., U.S. Liner Company, Optiplan GmbH, Brianza Plastica S.p.A., Polser Fiberglass Reinforced Plastics Inc., LAMILUX Heinrich Strunz Group, Panolam Industries International Inc. etc.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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