Global FRP Bridge Market By Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Vinylester, Polyester), Manufacturing Process (Pultrusion, Hand Lay-Up), Application (Deck, Girders, Rebars), By Bridge Type (Vehicular, Pedestrian) and Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global FRP Bridge Market
Global FRP bridge market is expected to rise to an estimated value of USD 99.8 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026.This rise in market value can be attributed to the growing demand for bridges in decks and reinforcing bars.
Market Definition: Global FRP Bridge Market
Fibre-reinforced plastic (FRP) is a composite material comprising of polymer matrix reinforced with fibers. FRP bridges offers strength due to the polymers that make up the whole sections of the bridges. The bridges made from FRP material require no specific maintenance and also provide resistance towards corrosion.
- · FRP material provide superior properties as compared to other alternatives, which acts as a driver in the growth of the market
- · Rising demand for FRP material in the manufacturing of decks boosts the market for FRP bridges
- · High cost of carbon fiber used in the production, act as the major restraint for the market
- · FRP material possesses sensitivity towards UV radiations, which hampers the demand for this material
Segmentation: Global FRP Bridge Market
· By Fiber Type
· Glass Fiber
· Carbon Fiber
· By Resin Type
· By Manufacturing Process
· Hand Lay-Up
· By Application
· By Bridge Type
· By Geography
· North America
· South America
o Rest of South America
o United Kingdom
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
· Middle East and Africa
o South Africa
o Saudi Arabia
o United Arab Emirates
o Rest of Middle East and Africa
Key Developments in the Market:
- · In October 2018, Creative Pultrusions Inc. acquired Composite Advantage LLC, a manufacturer of FRP products used in construction industry. The acquisition will help the company to add products of the acquired company into its own portfolio of products
- · In July 2017, Owens Corning Infrastructure Solutions acquired the concrete reinforcement business of Hughes Brothers, Inc. The acquisition will help both the companies to expand their businesses globally
Global FRP bridge market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of FRP bridge market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in FRP bridge market are AXION STRUCTURAL INNOVATIONS LLC, B&B FRP MANUFACTURING INC., Bedford Reinforced Plastics, Creative Pultrusion, Inc., CTS Bridges Ltd, FiberCore Europe BV, Fiberline Composites A/S, Strongwell Corporation, Guardian Bridge Rapid Construction Inc., Hughes Brothers, Inc., Kenway Composites, Lifespan Structures Ltd, Vectorply Corporation among others.
Research Methodology: Global FRP Bridge Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- · Complete and distinct analysis of the market drivers and restraints
- · Key market players involved in this industry
- · Detailed analysis of the market segmentation
- · Competitive analysis of the key players involved