Pultrusion Products Market size - By Fiber (Glass, Carbon, Aramid), By Resin (Polyester, Epoxy, Polyurethane, Vinyl Ester), By End-Use (Industrial, Housing, Power & Energy, Consumer, Civil Engineering, Automotive, Aerospace) & Global Forecast, 2022 - 2030

Pultrusion Products Market Size

Pultrusion Products Market size was valued at over USD 3 billion in 2021, due to a surge in demand for durable, lightweight structural composites. The industry is further expected to depict a CAGR of over 3.5% through 2022-2030.
 

Pultrusion is used to make specialized parts that are lightweight and robust; to that end, the process receives huge demand from industries such as civil, automobile, and aerospace manufacturing along with industrial, construction, chemical, electrical, and civil engineering. Citing an instance, the construction sector in North America was valued at USD 1.9 trillion, and structural composites were an integral component.
 

Furthermore, there is a growing demand for malls, houses, and recreational spaces across major regions, due to the rising population of the world. To cater to these global demands, lightweight and easy-to-transport structural composites are being used, owing to benefits such as sustainability and affordability. Materials used in windows, doors, and roofs are lightweight and additional benefits of cost-effectiveness and sustainability have increased the usage of structural composites.
 

Pultrusion Products Market Analysis

In terms of fiber, the pultrusion products market is bifurcated into glass, carbon, aramid, and others. The glass fiber segment is expected to register revenue worth more than USD 2 billion by 2030. Glass fiber is used to make reinforced plastic and can be woven into a fabric, flattened into a sheet, or randomly distributed. Glass fibers are being increasingly used across various industries such as maritime, automotive, civil engineering, and in developing recreational and athletic products to reinforce polymers.
 

One of the main benefits of using glass fibers for polymer reinforcement is high performance at a low cost, which may augment product demand. Furthermore, its corrosion resistance characteristics enable glass fibers to be used as a replacement for steel reinforcements in concrete and seawater. With urbanization on the rise and surging demand for commercial infrastructure, the production of glass fiber will increase in the ensuing years.
 

Based on resin, the pultrusion products market is segmented into polyester, epoxy, polyurethane, vinyl ester, and others. The polyester resin segment is anticipated to register a CAGR of over 4% through 2030. Polyester resins account for close to 65% of all the pultrusion resins used in the business of composite manufacturing. This is primarily due to ease of customization during the creation of polymer chains. Additionally, polyester resins are very adaptable and can be used to create any composite depending on the composition of constituent parts. Such desirable characteristics are expected to contribute significantly to segmental progress.
 

The pultrusion products market size from the industrial end-use segment is predicted to reach 130 Kilo tons by 2030. The industrial sector comprises pipe supports, fiberglass struts, cored tubing, cooling towers, residential door profiles, docks, conveyor systems, ladders, and bridge components. Different industrial components are being produced using the process of pultrusion to offer reinforcement and enhance their weight and durability. Building project designers benefit from the characteristics of pultruded products which comprise corrosion resistance, high-grade ratios, dielectric properties, low thermal expansion, and impact resistance, further fostering market demand from the segment.
 

Regionally, the pultrusion products market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American industry is expected to grow at a CAGR of 3.5% through 2030. Growing private and public investments in the automotive sector to produce lightweight designs and optimize vehicular performance have fostered the demand for pultrusion products. The thriving automotive industry will also lead to an increase the demand for carbon fiber components, thereby pushing the market trends.
 

Pultrusion Products Market Share

Top contenders operating in the pultrusion products market include

• Exel Composites
• Bedford reinforced plastics
• Faigle Kunstsoffe GmbH
• Strongwell Corporation
• Creative Pultrusions
• Jiangsu Jiuding New Material Co. Ltd.
• Werner Ladder
• Masco
• Pultrex
• Haysite reinforced plastics
• Liberty Pultrusions
• Toray Industries Inc
• Pultron Composites Limited
• Tencom Ltd.
• Fibergrate Composite Structures Inc
• Fiberline Composites A/S
• Jamco
• Avient
• Arvind Composites (Arvind Ltd.)

Many prominent players are involved in strategic business deals that reinforce their market position. In August 2022, Avient Corporation inked a definitive agreement with a H.I.G. Capital affiliate regarding the sale of its distribution division. This deal built on the robust proposal from H.I.G, which valued the business at around 10 times LTM EBITDA and comprised no financial uncertainties.
 

Impact of COVID-19 Pandemic

The global COVID-19 pandemic asserted an unprecedented influence on numerous industries, particularly the market for FRP composites. With rising applicability of pultruded products, the importance of the FRP sector has observed significant growth, as the products are gaining substantial popularity in infrastructure, construction, and utilities. Although construction activities were stalled during the initial stages of the pandemic, relaxations in lockdowns increased the demand for pultrusion products and may in turn create a favorable outlook for the industry over the forecast period.
 

The pultrusion products market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2018 to 2030 for the following segments:

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by Fiber

• Glass
• Carbon
• Aramid
• Others

by Resin

• Polyester
• Epoxy
• Polyurethane
• Vinyl Ester
• Others

by End-Use

• Industrial
• Housing
• Power& Energy
• Consumer
• Civil Engineering
• Automotive
• Aerospace
• Others