Lucintel’s latest market report analyzed that FRP panel provides attractive opportunities in building and construction, trucks and trailers, recreational vehicles and others industries. The FRP panel market is expected to reach $1.3 billion by 2025 with a CAGR of 2.3%. In this market, polyester based composite is the largest segment by resin type, whereas building and construction is largest by end use industry. The growing use of FR resin in FRP panel manufacturing and rising popularity of carbon composites in the recreational vehicle and truck and trailer markets provides strategic growth path in this market.
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Based on resin type, the FRP panel market is segmented into polyester composites, epoxy composites and PP composites and others. The polyester based composites segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to its low cost and mostly used in applications, such as side wall panels, roof, and floors.
Browse in-depth TOC on “FRP Panel Market”
53 – Tables
88 – Figures
150 – Pages
The FRP panel market is marked by the presence of several big and small players. Some of the prominent players offering FRP panel include Crane Composites, Lamilux Heinrich Strunz Group, US Liner Company, Kalwall Corporation, Fibrosan, Panolam Industries, and Strongwell Corporation.
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