Pultrusion Products Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1741
Pultrusion Products Market size is projected to witness a substantial growth, owing to rising demand for lightweight structural composites over forecast period. Rising rebar and gratings applications will led to surge in demand for durable products to withstand corrosive environments. Increasing focus on total lifecycle cost of end products coupled with growing energy efficiency necessities from consumers will remain a key driving factor for the global market growth.
Pultrusion is an automated closed-molding process for large scale manufacturing of constant cross section parts in economical way. Excellent composite structural materials can be fabricated by the process owing to resin dispersion, uniformity of cross-section, fiber distribution & alignment.
Pultrusion process use polymer matrix and fibers for manufacturing of structural composite parts. Good strength, high chemical resistance, non-magnetic, low thermal expansion and maintenance are the key properties driving demand for pultruded composites. Extensive applications scope across varied industry verticals such as civil engineering, housing sectors and automotive will add to the product market size.
The industrial application is anticipated to be dominating segment over the forecast period. Increasing demand for high strength structural composites in offshore oil drilling projects, cooling towers, and civil engineering will propel demand for pultrusion products for industrial segment. Pultruded products possess corrosion resistance, high strength-to-weight ratios, heat resistance, dielectric properties, and dimensional stability which benefits designers for construction projects.
Glass fiber and carbon fiber are the most widely used pultrusion products worldwide. FRP are versatile and cost effective compared to traditional materials, such as steel, aluminum and timber. FRP pultruded products market is anticipated to witness significant gains owing to lightweight properties and high durability. It weighs 75% less than steel and non-corrosive in nature. FRP rebar can be used as an alternative of stainless steel, carbon steel, wood and non-ferrous metals.
Asia Pacific is anticipated to witness significant growth owing to growing revamp projects on functionally deficient structures. Designers preference for lightweight, non-corrosive, durable structural composites coupled with electrical & thermal insulation in construction industry propelled product demand in the region. Technological advancement for structural composite design and material are the factors will support product penetration over forecast period. Growing demand for FRP pultruded products increased considerably in last few years, mostly in the construction, automobile, aeronautic and wind energy sectors. China fishing industry in one of the major consumer of pultruded products in the region.
Europe, led by UK and Germany will experience steady growth owing to developed industrial sectors. However, light weight composites for rebar and gratings applications in new construction projects will support pultrusion products market growth. Construction of FRP cooling towers in the region will add to the product market size over the forecast period.
North America is projected to dominate global pultrusion product market owing to wider acceptance of pultruded parts by designers in various end-use applications. Isopolyester and vinyl ester are majorly consumed pultruded products in the region. Isopolyester accounts for over 75% share, followed by vinyl ester which accounts for around 15% of regional demand. Increasing demand supports the production of strong composites for a number of applications. Surge in building profiles such as window manufacturing, pilings and panels, electrical infrastructure and civil engineering will add to pultrusion products market growth over forecast period.
The Key players operational in the global market are Exel Composites, Bedford Reinforced Plastics, Faigle Kunstsoffe GmbH, Strongwell Corporation, Diversified Structural Composites, Creative Pultrusions, Jiangsu Jiuding New Material, Werner Ladder and Masco. Other notable players are Pultrex, Creative Pultrusions International, Ashland Composite Polymers, Fibreforce Composites, Haysite Reinforced Plastics, Pacific Composites Pty., Pultron Composites, Speedex, Fibergrate BV, Fiberline Composites AS, and Sportex.
Companies are forming alliances to gain competitive advantage in the global pultrusion market. Manufacturers are focusing on new product development, improvement of pultrusion technology and fabrication of products. Further technical advancement in equipment’s, raw materials processing & applications will support product market growth.
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