Pultrusion Products Market size to exceed USD 4 billion by 2030

Published Date: September 20, 2022

Pultrusion Products Market size is expected to reach over USD 4 billion by 2030, as per a new research report announced by Global Market Insights Inc.

Pultrusion fiberglass is lightweight in comparison to steel and aluminum, making it ideal for use in the civil engineering sector, which may contribute to industry growth. When civil engineers work on projects such as bridges and trains, they must ensure that the materials used are lightweight and durable. Pultruded FRP components are ideal for usage in building projects that are long-lasting owing to their lower weight and cost-effectivity.

Furthermore, pultruded products are more economical to ship in comparison to heavyweight metals, which could cause shorter lead times. Pultrusion is used across a variety of applications including the manufacturing of window reinforcements, pipe and electrical supports, and roll-up door panels along with structural support in bridge and rail engineering projects. With the construction industry growing steadily across developed and developing regions, the pultrusion products market is expected to register commendable growth over the forecast period.

Carbon fiber to emerge as a key segment bolstering market expansion

Considering the type of fiber, the market is bifurcated into glass, carbon, aramid, and others. The carbon fiber segment is expected to reach USD 1.8 billion by 2030. Escalating growth in the electric vehicles industry and increasing demand for lightweight parts from the aerospace and automobile industry are significant contributors to the proliferation of the pultrusion products market. Carbon fiber is lightweight, robust, five times stronger, and twice as rigid as steel. On account of such strong characteristics, carbon fiber is considered an ideal production material for various items, including construction products, which could strengthen the segmental outlook.

Browse key industry insights spread across 479 pages with 641 market data tables & 36 figures & charts from the report, “Pultrusion Products Market size by Fiber (Glass, Carbon {End-uses [Civil engineering, Wind Energy, Aerospace]), Aramid), By Resin (Polyester, Epoxy, Polyurethane, Vinyl Ester), By End-Use (Industrial, Housing, Power & Energy {Wind Energy, Solar Energy, Hydroelectric Power}, Consumer, Civil Engineering, Automotive, Aerospace), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pultrusion-products-market

Robust properties of epoxy resins to expand industry size

In terms of resin, the pultrusion products market is fragmented into polyester epoxy, polyurethane, vinyl ester, and others. The epoxy resin segment is anticipated to register revenue worth USD 760 million by 2030.

Epoxy resins are widely used as an alternative to polyester. These resins offer significant benefits over polyester, despite versatility limitations when compared to polyester’s high rate of shrinkage. Epoxy resins possess robust mechanical characteristics such as heat resistance, and fatigue life. Furthermore, the electrical performance of pultrusion products enables their employment in construction, electrical & electronics, and automobiles.

Rising preference for pultruded products in housing sector to transform market dynamics

Based on end-use, the pultrusion products market is bifurcated into industrial, housing, power & energy, wind energy, solar energy, hydroelectric power, consumer, civil engineering, automotive, aerospace, and others. The housing segment is projected to exhibit over 3% CAGR through 2030. The construction sector is adopting eco-friendly building parts, such as structural components, in residential constructions to lower overall costs. This will increase the deployment of pultrusion products in the sector, which are considered environmentally friendly in comparison to traditional materials.

Advancements in APAC energy sector to bolster industry demand

Asia Pacific pultrusion products market was valued at more than USD 1 billion in 2021. Innovations in the energy sector have increased the demand for products with longevity and high durability to manufacture infrastructure components. For instance, the government of India is planning to develop solar farms in the Rajasthan desert area, which will increase the utilization of pultruded products in the production and installation processes. Over the last few years, the Asia Pacific region has witnessed significant demand for Fiber Reinforced Polymer (FRP) pultruded products, primarily in the automobile, construction, wind energy, and aeronautic sectors.

Collaborative efforts by key players to bolster market landscape

Some of the key players 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.).