FRP Sheets and Panels Market Size And Forecast
The Global FRP Sheets and Panels Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global FRP Sheets and Panels Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
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.
What are FRP Sheets and Panels?
Fiber reinforced panels or FRP is kind of plastic which is made up of polyester resin reinforced with fiberglass. FRP panel is consists of dispersed phase known as reinforce and continuous phase known as matrix. FRPs are thin and flexible. FRP are used on ceiling, walls, wood, concrete blocks. FRP provides advantages such as low cost, strong scratch resistance, easily cleaned by regular detergent, superior flexibility over others. Applications of FRP wall panel are it can be used in restrooms, kitchens, dining room, classrooms, offices, recreational areas and many others. Furthermore, rise in industrialization in developing countries is anticipated to expand at significant growth in coming years for FRP sheets and panel industry.
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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). Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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FRP Sheets and Panels Market, By Application
• Recreational Vehicles
• Building & Construction
• Trucks & Trailers
• Others
FRP Sheets and Panels Market, By Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
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