LONDON, April 26, 2016 /PRNewswire/ -- "Increasing demand for corrosion resistant, lightweight, and high strength materials driving the FRP panels & sheets market"
The FRP panels &sheets market size is estimated to grow from USD 1.61 billion in 2015 to USD 2.24 billion by 2020, at a projected CAGR of 6.74% between 2015 and 2020. The FRP panels & sheets market is mainly driven by the need for making fuel efficient vehicles to decrease CO2 and greenhouse gases emission. The use of FRP panels & sheets enables manufacturing of lightweight vehicles.
"Construction application to witness maximum traction during forecast period"
The construction application segment is estimated to contribute the largest market share during the forecast period. Furthermore, due to increase in end users, this application is expected to gain traction and grow at the highest CAGR during the forecast period. The FRP panels & sheets market is also projected to witness growth in the transportation application segment during the forecast period because of the high demand for FRP panels in the transportation industry.
"North America to be the fastest growing region during the forecast period"
The FRP panels & sheets market in North America is driven by the growth in aerospace and construction industries. This is due to the penetration of FRP panels & sheets in the construction and aerospace industries. The corrosion resistance properties of FRP panels increase the life span of constructions and aerospace components.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people in the FRP panels & sheets market.
- By company type: Tier 1 (50%), Tier 2 (37%) and Tier 3 (13%).
- By designation: C-level (46%), Director Level (33%) and other executives (21%).
- By region: North America (34%), Europe (31%), APAC (23%), and RoW (12%).
The various key players profiled in the report are as follows:
1. Crane Composites (U.S)
2. Glasteel (U.S)
3. Polser FRP Panels Inc. (Turkey)
4. Panolam Industries International Inc. (U.S)
5. Fibrosan (Turkey)
6. Strongwell Corporation (U.S)
7. Enduro Composites (U.S)
8. Nudo (U.S)
9. Lamilux Heinrich Strunz Group (Germany)
10. Fibertech Industries (U.S)
The report will provide the market leaders/new entrants in this market in the following ways:
1. This report segments the FRP panels & sheets market comprehensively and provides the closest approximations of the market size for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers & acquisitions.
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