Global FRP Panels & Sheets Market-Industry Analysis and Forecast (2020-2027)
The global FRP panels & sheets market was evaluated US$ X.35 Bn and is expected to reach X.4X Bn by 2027, at a CAGR of X.8% during a forecast period.
Fiberglass reinforced panels and sheets are composed of wo or more than two materials in order to provide high tensile strength, durability, fire resistance, electrical neutrality, chemical resistance and thermal resistance. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. The global FRP panels & sheets market was valued US$ X.35Bn and is expected to reach X.4X Bn by 2027, at a CAGR of X.8% during a forecast period. Regionally, North America region is expected to dominate the market, at an estimated CAGR XX % during forecast period. Price of Zeenat Fiber Panel in India is US$ 131.444 price may vary region to region as per company slandered and different key players.
Market Drivers and Restraints:
FRP Panels & Sheets are widely accepted to give functional as well as aesthetic appeal to numerous products related to automotive, aerospace, construction industries, electronics and others for manufacturing machinery parts as they have characteristics of electrical neutrality, high strength and temperature resistance property driving this product demand since long and expected to hold the strong place in the market in terms of value and volume in coming years. FRP wall panels are ideal for kitchens, restrooms, dining rooms, offices, classrooms, hospital rooms, hallways, cooling towers, recreational areas, and other secondary spaces, as population growth across the world is intensifying constantly will highly demand targeted product for such installation will help this market to grow with significant rate. One of the most important applications of FRP panels is that they can be installed over new and existing drywall or used to repair damaged surfaces. In the construction area FRP sheets are utilised to repair and strengthening of concrete structures of cement products.
Moreover, instability in raw material price and substitute for the materials are expected to hamper the market. Furthermore, High concentration of suppliers are expected to pull the market growth during forecast period.
FRP Panels & Sheets Market Segment analysis:
By the End-User segment, the automotive sector is expected to dominate the FRP Panels & Sheets market currently and in the future. automotive segments have registered the largest market share in the year 2019. Approximately X.32% of the total market share is documented by automotive. High demand of material because of noticeable properties like dimensional stability, chemical resistance, toughness, stiffness, thermal resistance, flexibility, enhanced barrier properties at high temperatures thus, product is broadly used in the production of sidewall panels, roof panels, floor panels, door skins that will openly augment the FRP panels and sheets industry size in the coming years. On the other hand, Automotive manufacturers and OEMs are demanding for innovative materials in order to reduce vehicle weight, and achieve fuel efficiency and carbon emission targets owing to the operation of stringent environmental norms and government regulations, thus FRP panel and sheet demands going to increase will fuel the marker growth by 2027. Ongoing trend of electric vehicle amongst the population will augment the market growth for long run.
In October 2018, Verzatec Group, the parent company of Stabilit Servicios S.A. De C.V., acquired Koscon Industrial SA. This acquisition directed to expansion of the investors business.
FRP Panels & Sheets Market Regional Analysis:
Regionally, North America is expected to dominate the FRP Panels & Sheets Market and is expected to grow at CAGR of XX % during the forecast period. Developed regions like US, Canada are considered major contributors for the FRP Panels & Sheets market growth in the North America region. In 2019 market size was valued US$ XX Bn while in US, market size was valued XX Bn and expected to increase by US$ XX Bn in coming years. Fortunate regulatory development and support from government is expected to drive demand over the forecast period.
Asia Pacific is estimated to grow at a significant CAGR in the FRP panels & sheets market owing to rising infrastructure spending and growing per capita income in the developing economies including India, China, and Malaysia. Moreover, the presence of major automobile manufacturers like Honda, Nissan, Toyota, KIA, TATA motors are rising the demand for FRP products in the region for reducing the vehicular weight and improving fuel efficiency. Owing to the set of unique features it owns, the FRP panels and sheet market size will grow prosperously in the estimated timespan.
Global FRP Panels & Sheets Market Visit Full Report Below Click links : https://www.maximizemarketresearch.com/market-report/global-frp-panels-sheets-market/62606/
The objective of the report is to present a comprehensive analysis of the Global FRP Panels & Sheets Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global FRP Panels & Sheets Market dynamics, structure by analysing the market segments and project the Global FRP Panels & Sheets Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global FRP Panels & Sheets Market make the report investor’s guide.
Scope of FRP Panels & Sheets Market
Global FRP Panels & Sheets market, By Product Type
• General lining surface sheets
• Fiberglass sheets
• Gel-coat sheets
• Bead sheets
Global FRP Panels & Sheets market, By End-User
• Automotive and aerospace
• Building and construction
• Aerospace and Defense
• Electronics and electrical
• Consumer products
Global FRP Panels & Sheets Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the FRP Panels & Sheets Market,
• Panolam Industries International
• Polser Fiberglass Reinforced Plastics
• US Liner Company, Enduro Composites
• LAMILUX Heinrich Strunz Group
• Panolam Industries International
• Stabilit Servicios S.A. De C.V., Crane Co
• Brianza Plastica
• Crane Composites
• U.S. Liner Company
• Optiplan GmbH
• Optiplan GmbH
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