FRP Bridge Market Worth 72.5 Million USD by 2021
PUNE, India, April 7, 2017 /PRNewswire/ --
The report "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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Browse 82 market data Tables and 38 Figures spread through 138 Pages and in-depth TOC on "FRP Bridge Market"
http://www.marketsandmarkets.com/Market-Reports/frp-bridge-market-46127368.html
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The excellent properties of FRP materials, such as corrosion resistance, lightweight, and high strength, have contributed to the high growth of the FRP bridge market.
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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.
Support of the government as well as the aid provided by construction agencies, such as the Federal Highway Administration (FHWA), have significantly contributed to the growth of the FRP bridge market in the U.S.
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Some of the key players in the FRP Bridge Market include Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S.), Bedford Reinforced Plastics (U.S.), and Fiberline Composites A/S (Denmark). These players have adopted various organic and inorganic developmental strategies, such as new product development, expansion, agreement, and partnership, between the year 2011 and 2016.
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