Pultrusion Market to be Driven by the Rising Application of Pultrusion in Various End-Use Industries in the Forecast Period
The new report by EMR titled, ‘Global Pultrusion Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global pultrusion market, assessing the market based on its segments like fibre types, resin types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 2 Billion
- Forecast CAGR (2022-2027): 5%
- Forecast Market Size (2027): USD 2.7 Billion
The growing application of pultrusion in various industry verticals and the rapid urbanisation are driving the growth of pultrusion industry. The rising construction activities due to the inflating disposable income is also contributing to the steady growth of the market. In addition, the advantages of products made from pultrusion, such as high-strength, lightweight, excellent corrosion resistance, non-conductive to electricity, and greater uniformity of products are leading to the development of the industry. Also, the expanding telecoms and wireless industries are resulting in the development of the industry as fibre-reinforced polymer (FRP) is used to reduce attenuation and easy penetration of radio waves. Moreover, the deterioration of reinforcing steel when exposed to extreme environments is leading to its replacement with fibre reinforced polymer reinforcing bars, thus invigorating the pultrusion industry.
Industry Definition and Major Segments
Pultrusion is a manufacturing process to convert liquid resins and reinforced fibres into fibre reinforced plastic, also called fibre-reinforced polymer (FRP). It is a continuous technique used to produce composites with close-dimensional cross-sections. It is a cost-effective process for manufacturing either solid or hollow flat bars, channels, tubing, rods, and pipes, among others.
The pultrusion industry, by fibre type, is segmented into:
- Glass Fibre
- Carbon Fibre
Based on resin types, the market can be categorised into:
- Vinyl Ester
On the basis of application, the market can be divided into:
The regional markets of pultrusion include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The superior quality pultruded products offered by companies to escalate their market potential is also augmenting the industry growth. For instance: Strongwell Corporation offers corrosion-resistant, transparent, and maintenance-free fibre-reinforced polymer that can withstand any harsh environment. The fibre-reinforced polymer is biodegradable in nature and so have less impacts on nature, which is also propelling the pultrusion industry. Governments across the world are also adopting pultrusion products like fibre-reinforced polymer because of its sustainability and optimal performance, which is bolstering the market growth. The technological innovations in resin systems that can improve pultrusion line speed without degrading the final product and advancements such as 5G are expected to augment the pultrusion industry in the forecast period.
Key Market Players
The major players in the market are Strongwell Corporation, Jiangsu Jiuding New Material Co Ltd, Creative Pultrusions Inc., Fibrolux GmbH, and JAMCO Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.