FRP Bridge Market likely to reach beyond 72.5 Million USD by 2021 at a CAGR of 6.40%

Posted January 10, 2020 by armaan007

FRP Bridge Market expected to stand at 72.5 Million USD by 2021, at a CAGR of 6.40%, between 2016–2021

The report [138 pages] "FRP Bridge Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin (Vinylester, Polyester), Manufacturing Process (Pultrusion, Hand Lay-Up), Application (Deck, Girders, Rebars), Bridge Type (Vehicular, Pedestrian), Region - Global Forecast to 2021", published by MarketsandMarkets, the market was valued at USD 50.1 Million in 2015 and is projected to reach USD 72.5 Million by 2021, at a CAGR of 6.40% between 2016 and 2021.

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Deck is the largest application segment of the FRP bridge market 

By application, the deck segment is estimated to account for the largest share of the FRP bridge market. This segment is also projected to dominate the FRP bridge market globally during the forecast period. The use of FRP materials in decks offer them with high corrosion resistance, high strength to weight ratio, and effortless installations.

The glass fiber segment accounts for the largest share of the FRP bridge market 

The market for glass fiber composites is expected to grow at the highest CAGR from 2016 to 2021. Good strength, chemical resistance, and stiffness offered by glass fibers, as well as their easy availability and cost effectiveness, are key factors accelerating the demand for glass fiber composites.

North America accounts for the major share of the FRP bridge market 

The FRP bridge market is expected to witness the highest growth in the North American region during the forecast period. Several key market players, such as Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S.), and Bedford Reinforced Plastics (U.S.), among others, are present in this region. The growth of the FRP bridge market in the North American region can be attributed to the presence of these prominent players.

FiberCore Europe (Netherlands), Fiberline Composites A/S (Denmark), Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S), and Bedford Reinforced Plastics (U.S.) are some of the major market players. These players have adopted several organic and inorganic growth strategies to establish themselves strongly in the global FRP bridge market.     

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Issued By Markets And Markets
Country India
Categories Industry
Tags FRP bridge , FRP bridge manufacturers , FRP bridge industry , FRP bridge market , FRP bridge applications
Last Updated January 10, 2020