Global Fiber-Reinforced Plastic Market worth USD 54.34 Billion by 2024

Global Fiber-Reinforced Plastic Market worth USD 54.34 Billion by 2024

Pune, India, April 04, 2019 -- /360iResearch/ -- The report "Global Fiber-Reinforced Plastic Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q1 2019 Update)", published by 360iResearch, states that the global market was valued at USD 38.36 billion in 2017 and is projected to reach USD 54.34 billion by 2024, growing at a CAGR of 5.10% from 2017 to 2024.

The major forces driving the growth of the fiber-reinforced plastic market include the increasing industrialization and government awareness towards water and waste water treatment and key benefits of impressive mechanical and electrical properties. Moreover, increased application in the automotive and construction industry owing to increase in demand for lightweight fiberglass composite is also one of the factors that is driving the market growth. However certain factors such as the conventional additive manufacturing using metals may hinder the market growth. In the middle of difficulty lies opportunity such as the increasing strategic alliances, and emerging potential in asia-pacific market. The possible challenges for the market growth is manufacturing and testing of frp components is highly specialized. But key players in the market are overcoming the challenges with continual improvement and innovation.

Based on material, the global fiber-reinforced plastic market is studied across Aramid, Basalt, Carbon, and Glass. Based on application, the global fiber-reinforced plastic market is studied across Gas Distribution Networks, Oil Flow Lines, and Water Injection Lines. Based on industry, the global fiber-reinforced plastic market is studied across Aerospace, Automotive, Biomedical Engineering, Civil Engineering, Construction, Electronics, Oil & Gas, Sewage & Waste Water Treatment, and Sports & Consumer Goods. Based on geography, the global fiber-reinforced plastic market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.

The report features a competitive scenario of the fiber-reinforced plastic market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are American Fiberglass Rebar, American Grating, LLC, Amiantit, B&B FRP Manufacturing Inc., DowAksa, EPP composites, Engineered Composites Ltd, FRP Composites Inc., Future Pipe, HOBAS, Hyosung Corporation, Kemrock Industries Ltd., Mitsubishi Rayon Co., Ltd., SGL Group, TUF-BAR, Ten Cate NV, ZCL Composites, and Zoltek Companies, Inc..

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