Global FRP Bridge Market– Industry Trends and Forecast to 2024
Market Analysis: Global FRP Bridge Market
The global FRP bridge market accounted for USD 53.20million in 2016 and is projected to grow at a CAGR of 6.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global FRP Bridge Market
The demand for FRP bridge is mainly attributed to the superior properties offered by them, which include excellent resistance to corrosion against de-icing salts, high strength to weight ratio, and tensile strength.There is a growing demand for FRP bridgein decks, girders andrebars, which is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Superior properties than alternatives
- Ease of installation
- Growing use of FRP materials in the manufacturing of decks
- High cost of carbon fiber
- Sensitivity to UV radiations
Market Segmentation: Global FRP Bridge Market
The FRP bridge market is segmented on the basis of fiber typeinto glass fiber and carbon fiber.
On the basis of resintype, the market is segmented intovinylester and polyester.
On the basis of manufacturing process, the market is segmented intopultrusion and hand lay-up.
On the basis of application, the market is segmented into deck and girders, rebars.
On the basis of bridge type, the market is segmented into vehicular and pedestrian.
On the basis of geography, the FRP bridge market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global FRP Bridge Market
The global FRP bridge market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global FRP Bridge Market
Some of the major players in FRP bridge market includeAit Bridge System, Axion Structural Innovations LLC, B&B FRP Manufacturing Inc., Bedford Reinforced Plastics, Composicon, Composites Advantage, Creative Pultrusions, Inc., CTS Bridges Ltd, Diversified Structural Composites, Fibercore Europe, Fiberline Composites A/S, Guardian Bridge Rapid Construction Inc., Hardcore Composites LLC., Hughes Bros Inc., Kansas Structural Composites, Kenway Corporation, Lifespan Structures, Martin Marietta Composites, Inc., Solomon Composites LLC, Strongwell Corporation, Vectorply Corporation, Zellcomp Inc. and many more.