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Fiber Reinforced Plastic FRP Bridge Market Report
Fiber Reinforced Plastic (FRP) Bridge Market Size, Share, Trend, Forecast, & Competitive Analysis: 2017-2022
The global fiber-reinforced plastic (FRP) bridge market offers attractive opportunities throughout the ecosystem of the market and is projected to grow at a healthy CAGR (Compound annual growth rate) of 6.7% during the forecast period of 2017 to 2022. The current market size of FRP bridge seems low but growing at a healthy rate with the increasing awareness about the benefits offered by this unique material. Some of the major growth drivers are lower weight, low life cycle cost, higher specific strength and stiffness, excellent corrosion and fatigue resistance, lower maintenance cost, and growing need for faster installation of bridges.
The global FRP bridge market is segmented based on resin type as vinyl ester, polyester, and other resins. Polyester is projected to remain the most dominant resin type in the global FRP bridge market during the forecast period. Polyester resin provides good properties, such as chemical resistance, good mechanical strength, and stability at relatively lower cost. Vinyl ester resin is likely to witness the fastest growth in the same period, driven by its properties, such as high tensile strength and an excellent corrosion resistance.
The global FRP bridge market is segmented based on fiber type as glass fiber, carbon fiber, and other fibers. Glass fiber dominates the global FRP bridge market during the forecast period, driven by its cost advantage and good mechanical properties. Carbon fiber offers maximum weight saving potential but at a relatively higher cost. It currently accounts for a diminutive share in the global FRP bridge market but is anticipated to witness the fastest growth over the next five years.
The global FRP bridge market is segmented based on manufacturing process as open mold process, pultrusion, and other processes. Pultrusion is estimated to remain dominant process in the market during the forecast period as it is capable of producing all major FRP products used in the bridges, such as decks and rebar. This process is likely to witness a healthy growth in the market in the same period.
The global FRP bridge market is segmented based on application type as decks, girders, rebar, and others. The deck is expected to remain the largest application of FRP bridge market during the forecast period. Rebar is also estimated to account for a noteworthy share of the FRP bridge market during the same period.
North America witnessed the highest growth in the global FRP bridge market over the past five years. Large investments in infrastructure and increasing usage of lightweight materials have favored the growth of FRP in this region. Guide specifications and standards for the design of FRP bridges by government organizations, Federal Highway Administration (FHWA) and American Association of State Highway and Transportation Officials (AASHTO) are also influencing the growth of FRP bridge decks and other structural developments.
The Middle East and Africa is the fastest-growing FRP bridge market over the next five years. Growing developments with an increased security and regulations are likely to drive the growth of FRP bridges in the region. Asia-Pacific is also estimated to witness a healthy growth over the next five years, driven by higher investment in infrastructure in the developing economies, such as China and India.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2011-2022 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Forecast |
6.7% CAGR during 2017-2022 |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, Russia, The UK, China, Japan, India, Latin America, the Middle East and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The market is segmented in the following ways:
The global FRP bridge market supply chain comprises raw material manufacturers, distributors, composite molders, and customers, such as state-run infrastructure authorities. An overall supply chain seems relatively easy as compared to other composite markets.
Some of the major players in the global FRP Bridge market are-
Collaboration with customers and education to infrastructure authorities about the benefits of composite materials are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This report, from Stratview Research, studies the FRP bridge market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
Driven by the factors like higher specific strength and stiffness & excellent corrosion and fatigue resistance of FRP bridges, fiber reinforced plastic bridge market is expected to witness an impressive growth of 6.7% CAGR during the forecast period of 2017 to 2022.
Strongwell Corporation, Creative Pultrusions, Inc., Bedford Reinforced Plastics, and Fiberline Composites A/S are among the key players in the fiber reinforced plastic bridge market.
The Middle East and Africa is expected to be the fastest-growing FRP bridge market during the forecast period of 2017-22. Growing developments with an increased security and regulations are likely to drive the growth of FRP bridges in the region.
Polyester is expected to remain dominant in the fiber reinforced plastic bridge market during the next five years.
Glass fiber dominates the FRP bridge market during the forecast period.
The deck is expected to remain the largest application in the fiber reinforced plastic bride market in the coming years.
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