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FRP Panels and Sheets Market Size (2024 - 2029)

The FRP panels and sheets market is anticipated to experience growth during the forecast period, driven by rising demand from the transportation and building and construction industries. Despite challenges such as high production costs and the impact of the COVID-19 pandemic, the market is set to expand, with the Asia-Pacific region leading in consumption, particularly in countries like India and China.

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Market Size of FRP Panels and Sheets Industry

FRP Panels and Sheets Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

FRP Panels and Sheets Market Analysis

The market for FRP panels and sheets is expected to grow at a CAGR of 6% globally during the forecast period. Increasing demand from the transportation industry along with growing demand from the building and construction industry are driving the market growth. On the flip side, higher production costs coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

  • The FRP panels and sheets market is expected to grow during the forecast period owing to the increasing demand from the transportation industry.
  • Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as India and China.

FRP Panels and Sheets Industry Segmentation

The FRP Panels and Sheets Market report include:

Fiber Type
Glass
Carbon
Others
End-user Industry
Transportation
Building & Construction
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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FRP Panels and Sheets Market Size Summary

The FRP panels and sheets market is poised for significant growth, driven primarily by increasing demand from the transportation and building sectors. These panels, made from fiber-reinforced plastics, are valued for their lightweight, durable, and heat-resistant properties, making them ideal for use in automobiles, recreational vehicles, and construction applications. Despite challenges such as high production costs and the lingering effects of the COVID-19 pandemic, the market is expected to expand, with the Asia-Pacific region, particularly India and China, leading in consumption. The transportation industry's need for lightweight composites is a key factor propelling this growth, as governments worldwide implement measures to revive the automotive sector post-pandemic.

In the building and construction industry, FRP panels and sheets are favored for their ease of repair, water resistance, and aesthetic appeal, making them suitable for both commercial and residential use. The market's expansion is further supported by substantial infrastructure investments in China and India, with government initiatives boosting demand. The market remains partially fragmented, with several key players like CRANE COMPOSITES, INC., Hill & Smith Holdings PLC, and Röchling holding a marginal share. These factors collectively contribute to a positive outlook for the FRP panels and sheets market over the forecast period.

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FRP Panels and Sheets Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Transportation Industry

      2. 1.1.2 Growing Demand from the Building and Construction Industry

    2. 1.2 Restraints

      1. 1.2.1 High Production Costs

      2. 1.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fiber Type

      1. 2.1.1 Glass

      2. 2.1.2 Carbon

      3. 2.1.3 Others

    2. 2.2 End-user Industry

      1. 2.2.1 Transportation

      2. 2.2.2 Building & Construction

      3. 2.2.3 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

FRP Panels and Sheets Market Size FAQs

The FRP Panels and Sheets Market is projected to register a CAGR of 6% during the forecast period (2024-2029)

CRANE COMPOSITES, INC. , Hill & Smith Holdings PLC, Röchling, DOFRP and POLSER Şeffaf Çatı Örtüleri San. ve Tic. A.Ş. are the major companies operating in the FRP Panels and Sheets Market.

FRP Panels and Sheets Market Report Snapshots

FRP Panels and Sheets Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)