Fiber Reinforced Polymer Composites Market

Increasing adoption of GFRP composites in transportation is driving the market growth

The strength-to-weight ratio of GFRP composites is higher, which is a significant characteristic in the production of automobiles. Vehicles with lightweight components that are also strong get greater gas mileage and cost less to operate. To comply with CAFÉ rules (36.6 mpg by 2017 and 54.5 mpg by 2025), automakers in the US have moved their attention to the development of lightweight vehicles. They also regard GFRP composites as a replacement for aluminum and steel in high-end vehicles. The transportation sector frequently uses GFRP composites for doors, roof panels, windows, headrest back panels, seats, luggage bins, and cooling ventilators.

These factors are promoting the development of novel GFRP composite applications and driving the growth of the GFRP composites market in the transportation sector.

In the transportation sector, fiber-reinforced polymer (FRP) composites are frequently employed in vehicles, aircraft, helicopters, spacecraft, boats, and ships. Fiber-reinforced polymer (FRP) composite material is the best replacement for conventional materials like steel or aluminum in the transportation sector due to weight and cost factors. FRPs are the ideal alternatives to wood in maritime waterfront situations or onboard ships, where they reduce structural weight and improve corrosion resistance. According to the International Organization of Motor Vehicle Manufacturers (OICA), the manufacturing of vehicles increased by about 6% in 2022 compared to the previous year.

Approximately 85 million cars were produced in 2022 as opposed to 80 million in 2021. With roughly a third of the production, the United States was the second-largest producer behind China.

Additionally, according to the Bureau of Economic Analysis, the value added by the production of motor vehicles, bodies, and trailers as well as their component parts in the United States during the first three quarters of 2022 was approximately USD 504 billion, or about 5% more than the value added during the same period the year before. According to Boeing's commercial market projection for 2022–2041, new aircraft deliveries will be worth USD 7.2 trillion in 2022–2041, and the world fleet would grow by 80% over that time. By 2041, about 41,170 fleet deliveries will be completed, according to Boeing.

In the next 20 years, airlines will need more than 30,880 new single-aisle airplanes, accounting for 75% of total deliveries.Thus, driving the Fiber Reinforced Polymer Composites (FRP) market revenue.

The Global Fiber Reinforced Polymer Composites (FRP) Market Industry is poised for substantial growth, with projections indicating a market value of 259.3 USD Billion in 2024 and an anticipated rise to 611.0 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 8.1% from 2025 to 2035. Such figures reflect the increasing adoption of FRP in various applications, driven by its superior properties and the ongoing demand for lightweight, durable materials across multiple sectors. The market's expansion is likely to be supported by technological advancements and a growing emphasis on sustainability.

The Global Fiber Reinforced Polymer Composites (FRP) Market Industry is experiencing heightened demand from the construction sector, driven by the need for lightweight yet durable materials. FRP composites are increasingly utilized in infrastructure projects, such as bridges and buildings, due to their corrosion resistance and high strength-to-weight ratio. For instance, the integration of FRP in construction can lead to reduced maintenance costs and extended service life of structures. As the global construction market expands, the FRP segment is projected to grow significantly, contributing to an estimated market value of 259.3 USD Billion in 2024.

The versatility of Fiber Reinforced Polymer Composites (FRP) is a key driver of the Global FRP Market Industry. These materials find applications in various sectors, including automotive, aerospace, marine, and consumer goods. For instance, in the automotive industry, FRP is utilized to manufacture lightweight components that enhance fuel efficiency. The broad applicability of FRP composites allows for innovation and adaptation across different fields, which is likely to sustain market growth. As industries continue to explore the benefits of FRP, the market is projected to grow at a CAGR of 8.1% from 2025 to 2035, indicating a robust future.

The Global Fiber Reinforced Polymer Composites (FRP) Market Industry is benefiting from increased investments in renewable energy sectors, particularly wind and solar power. FRP materials are extensively used in the production of wind turbine blades and solar panel structures due to their lightweight and durable properties. As countries transition towards cleaner energy sources, the demand for FRP composites is expected to rise significantly. This trend is reflected in the projected market growth, with estimates suggesting a market value of 611.0 USD Billion by 2035, driven by the ongoing expansion of renewable energy infrastructure.

The Global Fiber Reinforced Polymer Composites (FRP) Market Industry is increasingly influenced by sustainability trends and environmental regulations. FRP materials, often made from recyclable components, present a more eco-friendly alternative to traditional materials. As industries strive to reduce their carbon footprints, the adoption of FRP composites is expected to rise. Governments worldwide are implementing policies that encourage the use of sustainable materials, which could lead to a significant increase in FRP applications. This shift not only aligns with global sustainability goals but also positions FRP as a viable solution for future construction and manufacturing needs.

Technological advancements in the production of Fiber Reinforced Polymer Composites (FRP) are propelling the Global FRP Market Industry forward. Innovations such as automated fiber placement and improved resin systems enhance the efficiency and quality of FRP products. These advancements not only reduce production costs but also enable the creation of complex geometries that were previously unattainable. As manufacturers adopt these cutting-edge technologies, the market is likely to witness a surge in applications across various sectors, including automotive and aerospace, further solidifying its position in the global economy.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Fiber Reinforced Polymer Composites (FRP) Market dominated this market in 2022 (45.80%). With the presence of key competitors and strong expansion in the end-user sectors, North America represents an important economic zone for the industry. The regional governments in North America are currently suffering financially as a result of the deterioration of the highway system, thus the authorities are considering the use of appropriate building materials. Further, the U.S.

Fiber Reinforced Polymer Composites (FRP) market held the largest market share, and the Canada Fiber Reinforced Polymer Composites (FRP) market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: FIBER REINFORCED POLYMER COMPOSITES (FRP) MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Fiber Reinforced Polymer Composites (FRP) market accounted for the healthy market share in 2022.The increasing demand in the construction and transportation application sectors is mostly to blame for the industry's expansion across the entire region. However, the situation varies among the region's various nations. For instance, Germany and the nations of Eastern Europe both have above-average growth rates. While several of the Southern European nations are going through a downturn.

Further, the German Fiber Reinforced Polymer Composites (FRP) market held the largest market share, and the U.K Fiber Reinforced Polymer Composites (FRP) market was the fastest growing market in the European region.

The Asia Pacific Fiber Reinforced Polymer Composites (FRP) market is expected to register significant growth from 2023 to 2032. Due to the expanding construction and automotive industries in the two countries, FRP sales are growing faster than normal. Over the course of the forecast period, the market in the area is anticipated to develop as a result of the rising demand for the product in numerous end-use applications. Moreover, China’s Fiber Reinforced Polymer Composites (FRP) market held the largest market share, and the Indian Fiber Reinforced Polymer Composites (FRP) market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Fiber Reinforced Polymer Composites (FRP) market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Fiber Reinforced Polymer Composites (FRP) industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Fiber Reinforced Polymer Composites (FRP) industry to benefit clients and increase the market sector. In recent years, the Fiber Reinforced Polymer Composites (FRP) industry has offered some of the most significant advantages to medicine.

Major players in the Fiber Reinforced Polymer Composites (FRP) market, including Ten Cate NV, Saint Gobain, Asahi Fiberglass, Owen Corning, Mitsubishi Rayon Co., Ltd, B&B FRP Manufacturing Inc., American Fiberglass Rebar, and American Grating, LLC, are attempting to increase market demand by investing in research and development Product Types.

Owens Corning creates systems for composite and building materials. The business manufactures and sells fiberglass composites. Its product line includes loose-fill insulation, foam sheathing, thermal and acoustical batts, and accessories. The company also offers oxidized asphalt, laminated and strip asphalt roofing shingles, and synthetic packaging materials. The company offers its products under a variety of brand names, such as PINK FIBERGLAS, FOAMGLAS, Paroc, and FOAMULAR. Among the industries that Owens Corning serves include residential, commercial, industrial, defense, automotive, transportation, power, and energy. The company conducts business in the regions of North America, South and Central America, Asia-Pacific, and Europe.

The headquarters of Owens Corning are in Toledo, Ohio, in the United States. In July 2017, Owens Corning Infrastructure Solutions acquired Aslan FRP, a manufacturer of composite rebars used in the building of roads, bridges, maritime structures, tunnels, and other structures.

Compagnie de Saint-Gobain (Saint-Gobain) manufactures building materials and construction-related products. Its product line comprises a range of plastics, pipelines and associated goods, building supplies, gypsum, industrial mortar, roofing, and exterior wall products. Additionally, the business sells performance polymers, glass textiles, and mineral ceramics. These products are marketed by the company under a number of names, including ADFORS, British Gypsum, Saint-Gobain Gla, and Isover. The automotive, aerospace, health, defense, energy, security, and food and beverage industries all use Saint-Gobain products. Along with its affiliates and subsidiaries, the corporation conducts business throughout the Americas, Europe, the Middle East, Africa, and Asia-Pacific.

The headquarters of Saint-Gobain are located in Courbevoie, Ile-de-France, France. Saint Gobain Sekurit and Corning Incorporated formed a joint venture in January 2016 to develop, produce, and market lightweight glazing solutions for the automotive industry, including Corning, Gorilla, and other enhanced options.