Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The "Fiber-Reinforced Composites - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Fiber-Reinforced Composites was estimated at US$101.8 Billion in 2023 and is projected to reach US$151.3 Billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030.
Innovations in FRC technology are significantly expanding the applications and performance of these materials. Advanced fiber types such as carbon and hybrid fibers are being integrated into composites to enhance stiffness, reduce weight, and improve impact resistance. Manufacturing techniques like resin transfer molding (RTM) and automated fiber placement (AFP) are becoming increasingly sophisticated, allowing for greater precision and efficiency in composite production. Furthermore, developments in smart composites, which integrate sensors and monitoring capabilities directly into the materials, are opening up new possibilities in sectors like infrastructure, where real-time monitoring of structural health is critical. These advancements are enhancing the versatility, functionality, and competitiveness of FRCs across a broad spectrum of industries.
What Are the Emerging Applications and Trends in the FRC Market?
The fiber-reinforced composites market is seeing a surge in demand due to the growing trend of lightweighting, particularly in transportation industries like automotive, aviation, and rail. The push for electric vehicles (EVs) has further accelerated the demand for FRCs, as they are used to develop lightweight battery enclosures and structural components that maximize efficiency and range. In the construction sector, FRCs are being adopted for retrofitting and reinforcing existing structures, as they provide high tensile strength and durability without adding significant weight. Additionally, the sports and leisure industry is incorporating these composites into products like bicycles, tennis rackets, and other high-performance equipment, leveraging their lightweight and flexible properties to improve athletic performance.
What Factors Are Driving the Growth of the Fiber-Reinforced Composites Market?
The growth in the fiber-reinforced composites market is driven by several factors, including the increasing emphasis on lightweight materials to improve fuel efficiency and reduce carbon emissions, particularly in the automotive and aerospace sectors. The rise of electric vehicles and the demand for lightweight structural components are further boosting the use of FRCs in automotive manufacturing. Technological advancements in manufacturing processes and the development of new fiber materials are enhancing the performance capabilities and expanding the applications of FRCs, making them more appealing for industries like construction and infrastructure. Additionally, growing environmental awareness and the push for sustainable construction materials are encouraging the adoption of FRCs, which offer longevity and reduced maintenance costs compared to traditional materials.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Glass Fiber-Reinforced Composites segment, which is expected to reach US$85.1 Billion by 2030 with a CAGR of a 5.8%. The Carbon Fiber-Reinforced Composites segment is also set to grow at 7.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $27.2 Billion in 2023, and China, forecasted to grow at an impressive 9.4% CAGR to reach $34.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Fiber-Reinforced Composites Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Fiber-Reinforced Composites Market such as BASF SE, COTESA GmbH, Hexcel Corporation, Toray Industries, Inc., RTP Company and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 41 companies featured in this Global Fiber-Reinforced Composites market report include:
- BASF
- COTESA
- Hexcel
- Toray Industries
- RTP Company
- Nippon Electric Glass Co.
- Huntsman International
- Enduro Composites
- Owens Corning
- TPI Composites
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $101.8 Billion |
| Forecasted Market Value (USD) by 2030 | $151.3 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Fiber-Reinforced Composites - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Lightweight and Durable Materials in Automotive Industry
- Growth in Use of Fiber-Reinforced Composites in Aerospace and Defense
- Increased Adoption of Composite Materials in Wind Energy Sector
- Technological Advancements in Fiber Reinforcement for Enhanced Strength and Flexibility
- Expansion of Fiber-Reinforced Composite Applications in Construction and Infrastructure
- Rising Demand for Sustainable and Recyclable Composite Materials
- Growth in Electric Vehicles Driving Demand for Lightweight Composite Materials
- Increased Use of Fiber-Reinforced Composites in Sporting Goods and Recreation
- Advancements in Resin and Matrix Materials for Improved Composite Performance
- Growing Focus on Fire-Resistant and High-Temperature Composites
- Surge in Demand for Fiber-Reinforced Composites in Marine Applications
- Rising Adoption in Industrial Equipment Manufacturing for Durability
FOCUS ON SELECT PLAYERS
- BASF
- COTESA
- Hexcel
- Toray Industries
- RTP Company
- Nippon Electric Glass Co.
- Huntsman International
- Enduro Composites
- Owens Corning
- TPI Composites
For more information about this report visit https://www.researchandmarkets.com/r/eou052
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