"Increasing demand for lightweight and high strength materials to drive the FRP panels & sheets market”
The market size of continuous laminated FRP panels & sheets is projected to reach USD 1,084.7 million by 2021, registering a CAGR of 6.53% between 2016 and 2021. The strong growth of the truck & trailers market, recovery of the recreational vehicles and the non-residential construction sector from economic recession of 2008–2009, and long life cycle and low maintenance cost of FRP panels & sheets are the major drivers fueling the growth of the global FRP panels & sheets market.
Recreational vehicles are temporary living quarters primarily developed for leisure activities such as vacations and camping. After the recovery from economic recession of 2008–2009, the shipment of recreational vehicles increased from 356.70 thousand units in 2014 to 374.10 thousand units 2015 owing to low fuel prices and interest rates, rising costs of airline fares, and increase in popularity of outdoor activities such as camping, tailgating, and sports events. Thus, the increasing demand for recreational vehicles plays a crucial role in driving the need for FRP panels & sheets. The use of composites in recreational vehicles not only reduces the overall weight of vehicles but also the post-sale maintenance costs, thereby increasing fuel efficiency, strength, and durability.
“North America: The fastest-growing market for FRP panels & sheets”
North America is the largest and fastest-growing market for FRP panels & sheets. The rising demand for high performance, lightweight, and fuel-efficient materials from the transportation and construction industries and increasing new product launches and other development strategies in the region lead to the growth of the FRP panels & sheets market in this region.
The U.S. dominated the FRP panels & sheets market in North America, accounting for more than half of the demand for FRP panels & sheets in the region. The increasing demand for recreational vehicles in 2015 and recovery of the non-residential construction sector in the country is driving the demand for FRP panels & sheets.
The market figures presented in this report has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided in three categories:
- By Company Type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By Designation- C Level- 30%, Director Level- 25%, and Others- 45%
- By Region- North America- 35%, Europe- 30%, Asia-Pacific- 20%, and RoW (15%)
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
- Crane Composites, Inc. (U.S.)
- Glasteel, Inc. (U.S.)
- U.S. Liner Company (U.S.)
- Brianza Plastica S.p.A. (Italy)
- Optiplan GmbH (Germany)
- Polser Fiberglass Reinforced Plastics Ltd. (Turkey)
- Panolam Surface Systems (U.S.)
- LAMILUX Heinrich Strunz Group (Germany)
- Vetroresina SPA (Italy)
- Dongguang Higoal FRP Corporation (China)
- C-Sco Sandwich Panel & Shelters Industry Co. Ltd. (China)
- Everest Composites Pvt. Ltd. (India)
- Yangzhou Wansheng Industrial Co. Ltd. (China)
- Anlite Industrial (China)
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the FRP panels & sheets market comprehensively and provide the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product launches, partnerships expansions, and mergers & acquisitions.