Lucintel Forecasts FRP panel Market to Reach $1.4 Billion by 2026

Market-Research

According to the recent study the FRP panel market is projected to reach an estimated $1.4 billion by 2026 from $1.0 billion in 2020, at a CAGR of 5.0% from 2021 to 2026. Growth in this market is primarily driven by increasing residential and commercial construction activities and rising demand for durable, corrosion resistant, lightweight products in the construction and truck and trailer industries.

Browse 113 figures / charts and 119 tables in this 204 -page report to understand trends, opportunities and forecast in FRP panel market by end use industries (building and construction, truck and trailer, recreational vehicles and others), reinforcement (glass composites and carbon composites), matrix type (polyester composites, epoxy composites and PP composites and others), resin group (thermoset composites and thermoplastic composites), and region (North America, Europe, Asia Pacific, and Rest of the World).

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“Polyester based composites market is expected to remain the largest segment during the forecast period.”

Based on resin type, the FRP panel market is segmented into polyester composites, epoxy composites and PP composites and others. Lucintel forecasts that the polyester based composites market is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to its low cost and mostly used in applications, such as side wall panels, roof, and floors.

“Within the FRP panel market, the building and construction segment is expected to remain the largest end use industry”

Based on end use industry, the building and construction segment is expected to witness the largest end use industry over the forecast period due to growing demand for FRP wall panels, FRP roof panels, and FRP floor panels in residential and commercial construction and the recreational vehicle market is expected to witness the highest growth over the forecast period due to increasing demand for FRP panels which are lightweight, high performance, and low maintenance than other traditional materials.

“North America will dominate the FRP panel market in near future”

North America is expected to be the largest region with the highest growth over the forecast period due to the growing residential and commercial construction industry and increasing production of recreational vehicles and trucks & trailers.

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Major players of FRP panel market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Crane Composites, Lamilux Heinrich Strunz Group, US Liner Company, Kalwall Corporation, Fibrosan, Panolam Industries, and Strongwell Corporation are among the major FRP panel providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/frp-panel-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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