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Fibre Reinforced Polymer Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2025-2034)
Market Report I 2025-08-11 I 179 Pages I EMR Inc.
The global fibre reinforced polymer (FRP) market was valued at USD 112.77 Billion in 2024 and is expected to grow at a CAGR of 6.90% over the forecast period of 2025-2034 to reach a value of USD 219.77 Billion by 2034. The market is driven by increasing infrastructure rehabilitation projects demanding lightweight, corrosion-resistant materials to enhance structural strength.
Key Insights and Trends:
- The Asia Pacific fibre reinforced polymer market is expected to exhibit a CAGR of 7.7% over the forecast period.
- By country, the India fibre reinforced polymer market is expected to grow at a CAGR of 8.3% over the forecast period.
- By application, the energy category is expected to grow at a CAGR of 8.1% over the forecast period.
- By product, carbon is anticipated to grow at a CAGR of 7.9% over the forecast period.
Market Size & Forecast:
- Market Size in 2024: USD 112.77 Billion
- Projected Market Size in 2034: USD 219.77 Billion
- CAGR from 2025 to 2034: 6.90%
- Largest Regional Market: Asia Pacific
Increasing Demand for Glass Fibre Reinforced Polymers (GFRP) to Aid the Fibre Reinforced Polymer Industry Growth
Based on product, glass fibre reinforced polymers (GFRP) lead the fibre reinforced polymer industry. This can be attributed to the high flexibility and strength of glass fibre reinforced polymers, however, they lack rigidity that is necessary for certain applications. Further, it has better resistance to chemical corrosion, which proves to be very useful in a variety of corrosive environments. Moreover, different composite-manufacturing techniques can be employed to produce GFRP at an economical rate. These factors are aiding the growth of the segment, which, in turn, is further contributing to the growth of the overall market.
Europe to Boost the Growth of the Fibre Reinforced Polymer Industry
Europe and North America account for a significant share in the industry. Within Europe, glass fibre reinforced systems (GRP) remained the dominant material in terms of quantity and accounted for more than 90% of reinforced plastics/composites production in the region. The major application sectors of glass fibre reinforced systems (GRP) are the construction and automotive sectors in Europe. Meanwhile, the Asia Pacific is expected to witness a healthy growth in the forecast period owing to the rapid industrialisation and urbanisation in the region and the increasing use of fibre reinforced polymers in engineering applications.
Fibre Reinforced Polymer: Market Segmentation
Fibre reinforced polymer (FRP) composite, also known as fibre reinforced plastic, is a polymer reinforced with fibre. It belongs to a class of materials that is referred to as composite materials. FRP composites are known for their strength as they have a high ratio of strength to density. They also possess exceptional corrosion resistance and convenient electrical, magnetic, and thermal properties as compared to traditional construction materials.
By product, the market is divided into:
- Aramid
- Glass
- Carbon
- Basalt
- Others
Based on resin type, the industry can be segmented into:
- Polyester
- Vinyl Ester
- Epoxy
- Others
On the basis of manufacturing process, the industry can be categorised into:
- Pultrusion
- Vacuum Infusion
- Bladder Moulding
- Compression Moulding
- Thermoplastic Extrusion
- Filament Winding
- Others
By application, the industry can be divided into:
- Automotive
- Electronic
- Defence
- Energy
- Construction
- Others
Market breakup by region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Increasing Demand from Major Application Sectors to Bolster the Growth of the Fibre Reinforced Polymer Industry
The global fibre reinforced polymer industry is being driven by the increasing demand from major application sectors, particularly automotive and construction. The increasing demand can be attributed to the favourable properties of the product, particularly its exceptional corrosion resistance property, due to which it is becoming a popular alternative to various ferrous and nonferrous metals. Thus, the growing automotive industry and increasing infrastructure spending in emerging nations are significantly contributing to the market growth. Further, the increasing utilisation of fibre reinforced polymer in engineering applications because of its mechanical properties to obtain significant achievements in the functionality, safety, and economy of construction is also propelling the market growth.
The leading players are continuously working on a wide range of innovative products and product enhancements, such as the development of high-performance (carbon fibre reinforced) sheet moulding compound (SMC) and others, which is expected to significantly contribute to the industry growth in the forecast period.
Key Industry Players in the Global Fibre Reinforced Polymer Market
The report gives a detailed analysis of the following key players in the global fibre reinforced polymer market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Mitsubishi Chemical Corporation
- BASF SE
- Aegion Corporation
- Toray Industries, Inc.
- Celanese Corporation
- Advanced Composites Inc.
- SGL Carbon SE
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
More Insights On
United States Glass Fibre Reinforced Concrete (GFRC) Market
Glass Fibre Reinforced Concrete (GFRC) Market
Carbon Fibre Reinforced Thermoplastic (CFRTP) Composites Market
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Fibre Reinforced Polymer Market Analysis
5.1 Key Industry Highlights
5.2 Global Fibre Reinforced Polymer Historical Market (2018-2024)
5.3 Global Fibre Reinforced Polymer Market Forecast (2025-2034)
5.4 Global Fibre Reinforced Polymer Market by Product
5.4.1 Aramid
5.4.1.1 Historical Trend (2018-2024)
5.4.1.2 Forecast Trend (2025-2034)
5.4.2 Glass
5.4.2.1 Historical Trend (2018-2024)
5.4.2.2 Forecast Trend (2025-2034)
5.4.3 Carbon
5.4.3.1 Historical Trend (2018-2024)
5.4.3.2 Forecast Trend (2025-2034)
5.4.4 Basalt
5.4.4.1 Historical Trend (2018-2024)
5.4.4.2 Forecast Trend (2025-2034)
5.4.5 Others
5.5 Global Fibre Reinforced Polymer Market by Resin Type
5.5.1 Polyester
5.5.1.1 Historical Trend (2018-2024)
5.5.1.2 Forecast Trend (2025-2034)
5.5.2 Vinyl Ester
5.5.2.1 Historical Trend (2018-2024)
5.5.2.2 Forecast Trend (2025-2034)
5.5.3 Epoxy
5.5.3.1 Historical Trend (2018-2024)
5.5.3.2 Forecast Trend (2025-2034)
5.5.4 Others
5.6 Global Fibre Reinforced Polymer Market by Manufacturing Process
5.6.1 Pultrusion
5.6.1.1 Historical Trend (2018-2024)
5.6.1.2 Forecast Trend (2025-2034)
5.6.2 Vacuum Infusion
5.6.2.1 Historical Trend (2018-2024)
5.6.2.2 Forecast Trend (2025-2034)
5.6.3 Bladder Molding
5.6.3.1 Historical Trend (2018-2024)
5.6.3.2 Forecast Trend (2025-2034)
5.6.4 Compression Molding
5.6.4.1 Historical Trend (2018-2024)
5.6.4.2 Forecast Trend (2025-2034)
5.6.5 Thermoplastic Extrusion
5.6.5.1 Historical Trend (2018-2024)
5.6.5.2 Forecast Trend (2025-2034)
5.6.6 Filament Winding
5.6.6.1 Historical Trend (2018-2024)
5.6.6.2 Forecast Trend (2025-2034)
5.6.7 Others
5.7 Global Fibre Reinforced Polymer Market by Application
5.7.1 Automotive
5.7.1.1 Historical Trend (2018-2024)
5.7.1.2 Forecast Trend (2025-2034)
5.7.2 Electronic
5.7.2.1 Historical Trend (2018-2024)
5.7.2.2 Forecast Trend (2025-2034)
5.7.3 Defense
5.7.3.1 Historical Trend (2018-2024)
5.7.3.2 Forecast Trend (2025-2034)
5.7.4 Energy
5.7.4.1 Historical Trend (2018-2024)
5.7.4.2 Forecast Trend (2025-2034)
5.7.5 Construction
5.7.5.1 Historical Trend (2018-2024)
5.7.5.2 Forecast Trend (2025-2034)
5.7.6 Others
5.8 Global Fibre Reinforced Polymer Market by Region
5.8.1 North America
5.8.1.1 Historical Trend (2018-2024)
5.8.1.2 Forecast Trend (2025-2034)
5.8.2 Europe
5.8.2.1 Historical Trend (2018-2024)
5.8.2.2 Forecast Trend (2025-2034)
5.8.3 Asia Pacific
5.8.3.1 Historical Trend (2018-2024)
5.8.3.2 Forecast Trend (2025-2034)
5.8.4 Latin America
5.8.4.1 Historical Trend (2018-2024)
5.8.4.2 Forecast Trend (2025-2034)
5.8.5 Middle East and Africa
5.8.5.1 Historical Trend (2018-2024)
5.8.5.2 Forecast Trend (2025-2034)
6 North America Fibre Reinforced Polymer Market Analysis
6.1 United States of America
6.1.1 Historical Trend (2018-2024)
6.1.2 Forecast Trend (2025-2034)
6.2 Canada
6.2.1 Historical Trend (2018-2024)
6.2.2 Forecast Trend (2025-2034)
7 Europe Fibre Reinforced Polymer Market Analysis
7.1 United Kingdom
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Germany
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 France
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Italy
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Others
8 Asia Pacific Fibre Reinforced Polymer Market Analysis
8.1 China
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Japan
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 India
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 ASEAN
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
8.5 Australia
8.5.1 Historical Trend (2018-2024)
8.5.2 Forecast Trend (2025-2034)
8.6 Others
9 Latin America Fibre Reinforced Polymer Market Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Argentina
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Mexico
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Others
10 Middle East and Africa Fibre Reinforced Polymer Market Analysis
10.1 Saudi Arabia
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 United Arab Emirates
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
10.3 Nigeria
10.3.1 Historical Trend (2018-2024)
10.3.2 Forecast Trend (2025-2034)
10.4 South Africa
10.4.1 Historical Trend (2018-2024)
10.4.2 Forecast Trend (2025-2034)
10.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Price Analysis
13.1 North America Historical Price Trends (2018-2024) and Forecast (2025-2034)
13.2 Europe Historical Price Trends (2018-2024) and Forecast (2025-2034)
13.3 Asia Pacific Historical Price Trends (2018-2024) and Forecast (2025-2034)
13.4 Latin America Historical Price Trends (2018-2024) and Forecast (2025-2034)
13.5 Middle East and Africa Historical Price Trends (2018-2024) and Forecast (2025-2034)
14 Competitive Landscape
14.1 Supplier Selection
14.2 Key Global Players
14.3 Key Regional Players
14.4 Key Player Strategies
14.5 Company Profiles
14.5.1 Mitsubishi Chemical Corporation
14.5.1.1 Company Overview
14.5.1.2 Product Portfolio
14.5.1.3 Demographic Reach and Achievements
14.5.1.4 Certifications
14.5.2 BASF SE
14.5.2.1 Company Overview
14.5.2.2 Product Portfolio
14.5.2.3 Demographic Reach and Achievements
14.5.2.4 Certifications
14.5.3 Aegion Corporation
14.5.3.1 Company Overview
14.5.3.2 Product Portfolio
14.5.3.3 Demographic Reach and Achievements
14.5.3.4 Certifications
14.5.4 Toray Industries, Inc.
14.5.4.1 Company Overview
14.5.4.2 Product Portfolio
14.5.4.3 Demographic Reach and Achievements
14.5.4.4 Certifications
14.5.5 Celanese Corporation
14.5.5.1 Company Overview
14.5.5.2 Product Portfolio
14.5.5.3 Demographic Reach and Achievements
14.5.5.4 Certifications
14.5.6 Advanced Composites Inc.
14.5.6.1 Company Overview
14.5.6.2 Product Portfolio
14.5.6.3 Demographic Reach and Achievements
14.5.6.4 Certifications
14.5.7 SGL Carbon SE
14.5.7.1 Company Overview
14.5.7.2 Product Portfolio
14.5.7.3 Demographic Reach and Achievements
14.5.7.4 Certifications
14.5.8 Others
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