The global fiber reinforced polymer panel and sheet industry is anticipated to reach a valuation of US$ 1.1 billion in 2024, driven by demand for fire retardant materials. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.9% between 2024 and 2034, and reaching a total valuation of approximately US$ 1.9 billion by 2034.
A major factor contributing to the growth of the market is the emergence of biocomposite materials, which combine natural fibers with polymer matrices. Biocomposites offer environmental benefits, reduced dependency on petroleum based resins, and improved recyclability compared to traditional fiber reinforced polymer materials.
The adoption of digitalization and Industry 4.0 technologies is transforming manufacturing processes in the fiber reinforced polymer industry. Advanced modeling and simulation tools enable manufacturers to optimize material usage, reduce waste, and improve production efficiency.
Energy efficient building solutions, such as passive solar design and green building certifications, are driving the demand for high performance building materials like fiber reinforced polymer panels and sheets. The materials contribute to improved thermal insulation, daylighting, and indoor air quality, leading to energy savings and occupant comfort in commercial and residential buildings.
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Key Takeaways from the Market Study
- The global fiber reinforced polymer panel and sheet market was valued at US$ 1.0 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 7.5%.
- The market in Japan is expected to expand at a CAGR of 7.2% through 2034.
- By fiber type, the glass segment accounts for a CAGR of 5.8% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 834.0 million during the forecast period.
- The market in the United Kingdom is expected to expand at a CAGR of 6.5% through 2034.
“The growth of e-commerce platforms and direct to consumer channels is expanding the market reach for fiber reinforced polymer manufacturers and suppliers. Online marketplaces offer greater visibility, accessibility, and convenience for customers seeking fiber reinforced polymer panels and sheets for various applications,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the Fiber Reinforced Polymer Panel and Sheet market are
- Brianza USA Corporation
- Captrad Ltd.
- Crane Composites Inc.
- Dofrp (Miyabi FRP)
- Hill & Smith Holdings PLC
- Kal-Lite
- Kalwall
- Krempel GmbH
- Panolam Industries International Inc.
- Redwood Plastics and Rubber
Company Portfolio
- Crane Composites Inc. is a leading manufacturer of fiber reinforced polymer panels and sheets for applications in the transportation, construction, and recreational vehicle industries. Their product line includes lightweight and durable panels designed to meet industry standards and customer specifications.
- Dofrp (Miyabi FRP) specializes in the production of fiber reinforced polymer panels and sheets for architectural and decorative applications. Their products feature innovative designs, aesthetic appeal, and superior performance characteristics suitable for interior and exterior use.
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Segmentation Analysis of the Fiber Reinforced Polymer Panel and Sheet Market
By Fiber Type:
- Glass
- Carbon
- Others
By End Use Industry:
- Transportation
- Building and Construction
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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