Fiber Reinforced Composites (FRC) Market - Global Industry Analysis
Fiber Reinforced Composites (FRC) Market By Fiber Type (Carbon Fibers, Glass Fibers, Aramid Fibers, and Others), By Resin Type (Thermoset Composites and Thermoplastic Composites), By End-User Industry (Building & Construction, Automotive, Electrical & Electronics, Aerospace & Defense, Sporting Goods, Wind Energy, and Others) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028
The global fiber reinforced composites (FRC) market was worth roughly USD 88.1 billion in 2021 and is expected to increase to over USD 135.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.2 percent.
Description
Fiber Reinforced Composites (FRC) Market: Industry Prospective
The global fiber reinforced composites (FRC) market was worth roughly USD 88.1 billion in 2021 and is expected to increase to over USD 135.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.2 percent. The study examines the drivers, restraints, and challenges in the fiber-reinforced composites (FRC) industry, as well as their impact on demand throughout the forecast period. The study also looks into the market for fiber-reinforced composites (FRC).
Fiber Reinforced Composites (FRC) Market: Overview
Fiber-reinforced composite (FRC) is a material made up of reinforcement fibers and a matrix. They provide exceptional strength and rigidity at a low weight when appropriately chosen. The reinforcement fiber's job is to give the matrix strength, while the matrix protects the fiber from external wear and tear. Natural fiber and synthetic fiber are the two types of reinforcement fibers used in FRCs. Luffa, hemp, palm, and coir are examples of natural fibers, while carbon, glass, and aramid materials are examples of manufactured fibers. Natural fibers are inexpensive and degradable, making them environmentally beneficial. Synthetic fibers provide additional rigidity. Attempts are being undertaken to combine two different types of fibers and blend them with a matrix material to create a hybrid material.
COVID-19 Impact:
The aerospace, construction, and automobile industries were among the hardest affected by the Covid-19 pandemic. Fiber-reinforced composites are mostly used by these three segments. In order to stop the virus from spreading, countries like China, the United States, Germany, and India had to shut down production operations and impose travel restrictions both domestically and internationally. Consumer buying patterns changed as people postponed acquiring new vehicles in order to save money. The drop in automobile sales resulted in a loss of revenue for all automobile manufacturers. The scarcity of labor in the construction and infrastructure industry has slowed the pace of new infrastructure construction. All these factors had an impact on the global fiber-reinforced composites market.
Fiber Reinforced Composites (FRC) Market: Growth Drivers
Rising demand for carbon fiber composite in the aerospace industry to foster the market growth
The FRC industry is primarily driven by the desire for carbon fiber composite for long-haul and fuel-efficient aircraft. The usage of carbon fiber composites in wings can lower the aircraft's weight by up to 50,000 pounds. It has a minimal thermal expansion, has a high strength-to-weight ratio, and is rigid and chemically resistant. Its mechanical qualities can also be customized to the needs of the application. The use of matrix composites in commercial transport planes is advantageous since the lighter airframe allows for higher fuel economy and, as a result, lower operating costs. Carbon fiber is being used in the aircraft sector for a variety of reasons, including lower tooling & assembly costs, fewer parts, and decreased maintenance & longer design life. Owing to all such beneficial factors, carbon fiber composite in the aerospace industry is likely to drive the market.
Fiber Reinforced Composites (FRC) Market: Restraints
High costs associated with the FRC production hinder the market growth
Fiber reinforced composites manufacture is capital-intensive, which may stifle market expansion during the projection period. The high price is due to the high cost of reinforcement fibers, namely carbon and glass fiber. Carbon fiber is steeper to produce than glass fiber. Furthermore, fiberglass is more expensive than wool and steel, and other common materials can be used in their place.
Fiber Reinforced Composites (FRC) Market: Opportunities
Increasing studies & research to enhance the quality of FRC to boost the market
FRCs have excellent chemical and mechanical qualities, which could be improved further over the projection period. In order to improve the qualities and production technique of fiber-reinforced composites, research and studies are being conducted. Also, heavy investment is being done by the major players to stay competitive in the market. As a result, during the forecast period, new product innovations and launches are likely to provide new business opportunities for the global fiber-reinforced composites market.
Fiber Reinforced Composites (FRC) Market: Challenges.
Environment difficulties and concerns regarding FRC properties act as a challenge for the market growth
Due to their traditional qualities such as user easiness, superior shock absorption, superb toughness, high intensity, super strength, and lightweight, fiber reinforced composites (FRCs) have now become unavoidable and significantly convinced in the field of games and sports. A comprehensive understanding of the behavior of resin, reinforcement, and their combination, environmental effects, inspection methodology, structural assessments, test techniques, production technologies, and is necessary for the development of sophisticated FRCs for sports and aerospace applications. However, due to the compounding of various and usually extremely stable fibers and matrices, traditional fiber-reinforced polymers can produce significant environmental difficulties owing to the difficulty in non-biodegradability or recycling at the end of their useable lives. In addition to this, for effective aircraft applications, concerns such as degradability, water absorption, fire & thermal resistance, and property variability, as well as trustworthy prediction tools, must be resolved in the future. All these concerns pose a challenge for market growth.
Fiber Reinforced Composites (FRC) Market: Segmentation
The global fiber reinforced composites market is divided based on fiber type, resin type, end-user, and region. Based on the fiber type, the global market is segregated into aramid fibers, glass fibers, carbon fibers, and others. The resin type segment is categorized based on thermoplastic composites and thermoset composites. The end-user industry is divided based on wind energy, sporting goods, aerospace & defense, electrical & electronics, automotive, building & construction, and others.
Report Scope:
| Report Attribute | Details |
|---|---|
| Base Year | 2020 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2021 - 2028 |
| Segments Covered | By Product Type, By Application, and By End Use |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Recent Developments
In December 2020, Mitsubishi Chemical Corp has announced the opening of a new carbon fiber-reinforced thermoplastic (CFRTP) materials pilot facility in Fukui Prefecture, Japan.
Fiber Reinforced Composites (FRC) Market: Regional Landscape
North America to rule the market during the forecast period
Geographically, North America is expected to lead the global fiber reinforced composites (FRC) market during the forecast period. In recent years, North America has become one of the greatest markets for fiber reinforced composites. The construction industry is the primary market for fiber reinforced composites (FRCs), and it is predicted to offer the highest potential for market growth throughout the forecast period. Due to increased demand from sports/leisure, wind turbine, and defense & aerospace industries, this area is predicted to have the biggest demand for FRC. The market in this region is projected to be driven by a large concentration of aircraft manufacturers such as Airbus as well as automobile companies. The Asia Pacific is also estimated to grow at a higher rate during the forecast period.
Fiber Reinforced Composites (FRC) Market: Competitive Landscape
Röchling Group, Plasan Carbon Composites, Mitsubishi Chemical Holdings, Hexcel Corporation, Avient Corporation, TPI Composites Inc., Toray Industries Inc., Solvay SA, SGL Carbon SE, and Saudi Basic Industries Corporation (SABIC), among others are some of the major players that are operating in the global fiber reinforced composites (FRC).
The global fiber reinforced composites (FRC) market is segmented as follows:
By Fiber Type
- Carbon Fibers
- Glass Fibers
- Aramid Fibers
- Others
By Resin Type
- Thermoset Composites
- Thermoplastic Composites
By End User Industry
- Building & Construction
- Automotive
- Electrical & Electronics
- Aerospace & Defense
- Sporting Goods
- Wind Energy
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of The Middle East & Africa
Table Of Content
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Fiber Reinforced Composites (FRC) Market, (2022 - 2028) (USD Billion)
- 2.2 Global Fiber Reinforced Composites (FRC) Market : snapshot
- Chapter 3. Global Fiber Reinforced Composites (FRC) Market - Industry Analysis
- 3.1 Fiber Reinforced Composites (FRC) Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising demand for carbon fiber composite in aerospace industry to foster the market growth
- 3.3 Market Restraints
- 3.3.1. High costs associated with the FRC production to hinder the market growth
- 3.4 Market Opportunities
- 3.4.1. Increasing studies & research to enhance the quality of FRC to boost the market
- 3.5 Market Challenges
- 3.5.1. Environment difficulties and concerns regarding FRC properties to act as a challenge for the market growth
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Fiber Type
- 3.7.2 Market attractiveness analysis By Resin Type
- 3.7.3 Market attractiveness analysis By End User Industry
- Chapter 4. Global Fiber Reinforced Composites (FRC) Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Fiber Reinforced Composites (FRC) Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Fiber Reinforced Composites (FRC) Market - Fiber Type Analysis
- 5.1 Global Fiber Reinforced Composites (FRC) Market overview: By Fiber Type
- 5.1.1 Global Fiber Reinforced Composites (FRC) Market share, By Fiber Type, 2021 and 2028
- 5.2 Carbon Fibers
- 5.2.1 Global Fiber Reinforced Composites (FRC) Market by Carbon Fibers, 2022 - 2028 (USD Billion)
- 5.3 Glass Fibers
- 5.3.1 Global Fiber Reinforced Composites (FRC) Market by Glass Fibers, 2022 - 2028 (USD Billion)
- 5.4 Aramid Fibers
- 5.4.1 Global Fiber Reinforced Composites (FRC) Market by Aramid Fibers, 2022 - 2028 (USD Billion)
- 5.5 Others
- 5.5.1 Global Fiber Reinforced Composites (FRC) Market by Others, 2022 - 2028 (USD Billion)
- 5.1 Global Fiber Reinforced Composites (FRC) Market overview: By Fiber Type
- Chapter 6. Global Fiber Reinforced Composites (FRC) Market - Resin Type Analysis
- 6.1 Global Fiber Reinforced Composites (FRC) Market overview: By Resin Type
- 6.1.1 Global Fiber Reinforced Composites (FRC) Market share, By Resin Type, 2021 and 2028
- 6.2 Thermoset Composites
- 6.2.1 Global Fiber Reinforced Composites (FRC) Market by Thermoset Composites, 2022 - 2028 (USD Billion)
- 6.3 Thermoplastic Composites
- 6.3.1 Global Fiber Reinforced Composites (FRC) Market by Thermoplastic Composites, 2022 - 2028 (USD Billion)
- 6.1 Global Fiber Reinforced Composites (FRC) Market overview: By Resin Type
- Chapter 7. Global Fiber Reinforced Composites (FRC) Market - End User Industry Analysis
- 7.1 Global Fiber Reinforced Composites (FRC) Market overview: By End User Industry
- 7.1.1 Global Fiber Reinforced Composites (FRC) Market share, By End User Industry, 2021 and 2028
- 7.2 Building & Construction
- 7.2.1 Global Fiber Reinforced Composites (FRC) Market by Building & Construction, 2022 - 2028 (USD Billion)
- 7.3 Automotive
- 7.3.1 Global Fiber Reinforced Composites (FRC) Market by Automotive, 2022 - 2028 (USD Billion)
- 7.4 Electrical & Electronics
- 7.4.1 Global Fiber Reinforced Composites (FRC) Market by Electrical & Electronics, 2022 - 2028 (USD Billion)
- 7.5 Aerospace & Defense
- 7.5.1 Global Fiber Reinforced Composites (FRC) Market by Aerospace & Defense, 2022 - 2028 (USD Billion)
- 7.6 Sporting Goods
- 7.6.1 Global Fiber Reinforced Composites (FRC) Market by Sporting Goods, 2022 - 2028 (USD Billion)
- 7.7 Wind Energy
- 7.7.1 Global Fiber Reinforced Composites (FRC) Market by Wind Energy, 2022 - 2028 (USD Billion)
- 7.8 Others
- 7.8.1 Global Fiber Reinforced Composites (FRC) Market by Others, 2022 - 2028 (USD Billion)
- 7.1 Global Fiber Reinforced Composites (FRC) Market overview: By End User Industry
- Chapter 8. Fiber Reinforced Composites (FRC) Market - Regional Analysis
- 8.1 Global Fiber Reinforced Composites (FRC) Market Regional Overview
- 8.2 Global Fiber Reinforced Composites (FRC) Market Share, by Region, 2021 & 2028 (USD Billion)
- 8.3. North America
- 8.3.1 North America Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.3.1.1 North America Fiber Reinforced Composites (FRC) Market, by Country, 2022 - 2028 (USD Billion)
- 8.3.1 North America Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.4 North America Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028
- 8.4.1 North America Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028 (USD Billion)
- 8.5 North America Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028
- 8.5.1 North America Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028 (USD Billion)
- 8.6 North America Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028
- 8.6.1 North America Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028 (USD Billion)
- 8.4. Europe
- 8.4.2 Europe Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.4.2.1 Europe Fiber Reinforced Composites (FRC) Market, by Country, 2022 - 2028 (USD Billion)
- 8.4.2 Europe Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.4 Europe Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028
- 8.4.1 Europe Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028 (USD Billion)
- 8.5 Europe Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028
- 8.5.1 Europe Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028 (USD Billion)
- 8.6 Europe Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028
- 8.6.1 Europe Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028 (USD Billion)
- 8.5. Asia Pacific
- 8.5.3 Asia Pacific Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.5.3.1 Asia Pacific Fiber Reinforced Composites (FRC) Market, by Country, 2022 - 2028 (USD Billion)
- 8.5.3 Asia Pacific Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.4 Asia Pacific Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028
- 8.4.1 Asia Pacific Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028 (USD Billion)
- 8.5 Asia Pacific Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028
- 8.5.1 Asia Pacific Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028 (USD Billion)
- 8.6 Asia Pacific Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028
- 8.6.1 Asia Pacific Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028 (USD Billion)
- 8.6. Latin America
- 8.6.4 Latin America Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.6.4.1 Latin America Fiber Reinforced Composites (FRC) Market, by Country, 2022 - 2028 (USD Billion)
- 8.6.4 Latin America Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.4 Latin America Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028
- 8.4.1 Latin America Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028 (USD Billion)
- 8.5 Latin America Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028
- 8.5.1 Latin America Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028 (USD Billion)
- 8.6 Latin America Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028
- 8.6.1 Latin America Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028 (USD Billion)
- 8.7. The Middle-East and Africa
- 8.7.5 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.7.5.1 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by Country, 2022 - 2028 (USD Billion)
- 8.7.5 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 8.4 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028
- 8.4.1 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by Fiber Type, 2022 - 2028 (USD Billion)
- 8.5 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028
- 8.5.1 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by Resin Type, 2022 - 2028 (USD Billion)
- 8.6 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028
- 8.6.1 The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, by End User Industry, 2022 - 2028 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Röchling Group
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Plasan Carbon Composites
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Mitsubishi Chemical Holdings
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Hexcel Corporation
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Avient Corporation
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 TPI Composites Inc.
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Toray Industries Inc.
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Solvay SA
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 SGL Carbon SE
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Saudi Basic Industries Corporation (SABIC)
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.1 Röchling Group
Table Of Figures
- 1. Market research Type
- 2. Market research methodology
- 3. Global Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 4. Porter’s Five Forces Analysis
- 5. Global Fiber Reinforced Composites (FRC) Market attractiveness, By Fiber Type
- 6. Global Fiber Reinforced Composites (FRC) Market attractiveness, By Resin Type
- 7. Global Fiber Reinforced Composites (FRC) Market attractiveness, By End User Industry
- 8. Global Fiber Reinforced Composites (FRC) Market share by Fiber Type, 2022 and 2028 (USD Billion)
- 9. Global Fiber Reinforced Composites (FRC) Market by Carbon Fibers, 2022 - 2028 (USD Billion)
- 10. Global Fiber Reinforced Composites (FRC) Market by Glass Fibers, 2022 - 2028 (USD Billion)
- 11. Global Fiber Reinforced Composites (FRC) Market by Aramid Fibers, 2022 - 2028 (USD Billion)
- 12. Global Fiber Reinforced Composites (FRC) Market by Others, 2022 - 2028 (USD Billion)
- 13. Global Fiber Reinforced Composites (FRC) Market share by Resin Type, 2022 and 2028 (USD Billion)
- 14. Global Fiber Reinforced Composites (FRC) Market by Thermoset Composites, 2022 - 2028 (USD Billion)
- 15. Global Fiber Reinforced Composites (FRC) Market by Thermoplastic Composites, 2022 - 2028 (USD Billion)
- 16. Global Fiber Reinforced Composites (FRC) Market share by End User Industry, 2022 and 2028 (USD Billion)
- 17. Global Fiber Reinforced Composites (FRC) Market by Building & Construction, 2022 - 2028 (USD Billion)
- 18. Global Fiber Reinforced Composites (FRC) Market by Automotive, 2022 - 2028 (USD Billion)
- 19. Global Fiber Reinforced Composites (FRC) Market by Electrical & Electronics, 2022 - 2028 (USD Billion)
- 20. Global Fiber Reinforced Composites (FRC) Market by Aerospace & Defense, 2022 - 2028 (USD Billion)
- 21. Global Fiber Reinforced Composites (FRC) Market by Sporting Goods, 2022 - 2028 (USD Billion)
- 22. Global Fiber Reinforced Composites (FRC) Market by Wind Energy, 2022 - 2028 (USD Billion)
- 23. Global Fiber Reinforced Composites (FRC) Market by Others, 2022 - 2028 (USD Billion)
- 24. Global Fiber Reinforced Composites (FRC) Market share, by Region, 2022 and 2028
- 25. North America Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 26. Europe Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 27. Asia Pacific Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 28. Latin America Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
- 29. The Middle-East and Africa Fiber Reinforced Composites (FRC) Market, 2022 - 2028 (USD Billion)
Table Of Tables
- 1. Global Fiber Reinforced Composites (FRC) Market: Snapshot
- 2. Drivers of the Fiber Reinforced Composites (FRC) Market: impact analysis
- 3. North America Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 4. North America Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 5. North America Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 6. U.S. Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 7. U.S. Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 8. U.S. Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 9. Canada Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 10. Canada Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 11. Canada Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 12. Europe Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 13. Europe Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 14. Europe Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 15. Germany Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 16. Germany Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 17. Germany Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 18. France Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 19. France Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 20. France Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 21. U.K. Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 22. U.K. Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 23. U.K. Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 24. Italy Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 25. Italy Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 26. Italy Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 27. Spain Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 28. Spain Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 29. Spain Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 30. Rest of Europe Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 31. Rest of Europe Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 32. Rest of Europe Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 33. Asia Pacific Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 34. Asia Pacific Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 35. Asia Pacific Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 36. China Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 37. China Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 38. China Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 39. Japan Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 40. Japan Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 41. Japan Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 42. India Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 43. India Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 44. India Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 45. South Korea Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 46. South Korea Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 47. South Korea Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 48. South-East Asia Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 49. South-East Asia Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 50. South-East Asia Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 51. Rest of Asia Pacific Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 52. Rest of Asia Pacific Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 53. Rest of Asia Pacific Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 54. Latin America Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 55. Latin America Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 56. Latin America Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 57. Brazil Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 58. Brazil Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 59. Brazil Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 60. Mexico Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 61. Mexico Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 62. Mexico Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 63. Rest of Latin America Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 64. Rest of Latin America Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 65. Rest of Latin America Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 66. The Middle-East and Africa Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 67. The Middle-East and Africa Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 68. The Middle-East and Africa Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 69. GCC Countries Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 70. GCC Countries Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 71. GCC Countries Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 72. South Africa Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 73. South Africa Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 74. South Africa Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
- 75. Rest of Middle-East Africa Fiber Reinforced Composites (FRC) Market revenue, By Fiber Type, 2022 - 2028 (USD Billion)
- 76. Rest of Middle-East Africa Fiber Reinforced Composites (FRC) Market revenue, By Resin Type, 2022 - 2028 (USD Billion)
- 77. Rest of Middle-East Africa Fiber Reinforced Composites (FRC) Market revenue, By End User Industry, 2022 - 2028 (USD Billion)
Methodology
Free Analysis
Fiber reinforced composites (FRC) is a composite building material that contains fibers, matrix, and the interface. Fiber-reinforced composites (FRC)are generally characterized by improved stiffness, high, and specific strength compared to other various materials.
The global fiber reinforced composites (FRC) market is anticipated to grow at a substantial rate in the near future. The growing demand for lightweight vehicles from emerging economies is anticipated to fuel the market growth. The increased use of fiber-reinforced composites (FRC) was widely observed in automotive, building & construction, aerospace, electrical & electronics, marine, and sports & leisure industries across the globe. The increased demand for fiber-reinforced composites (FRC) in lightweight vehicles industry is the prime driver for the global fiber reinforced composites (FRC) market within the forecast period. Automotive makers and OEMs are looking for innovative materials to achieve better fuel efficiency. Stringent regulations regarding vehicle pollution are anticipated to play a major role in driving the global fiber reinforced composites (FRC) market in the coming years. Fluctuating raw material prices of fiber-reinforced composites (FRC) may hinder the market growth in the coming years. Nonetheless, product innovations and emerging markets in the Asia Pacific are likely to open new growth avenues for the major players of the market during the years to come.
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On the basis of product, the fiber-reinforced composites (FRC) market is classified into long fiber/continuous reinforced composites and short fiber-reinforced composites (FRC). Long fiber/continuous reinforced composites dominated the market and it accounted for a significant share of the overall market in 2017. Based on fiber type, the global fiber reinforced composites (FRC) market is mainly divided into glass, carbon, aramid, and others. Based on the matrix, the global fiber reinforced composites (FRC) market is mainly divided into a metal matrix, non-metal matrix, and the polymer matrix. Based on various end-user industries, the global fiber reinforced composites (FRC) market is mainly segmented into automotive, aerospace, building & construction, marine, electrical & electronics, sports & leisure, and others. In terms of geographies, in 2017, North America was the largest market for fiber-reinforced composites (FRC). This growth is mainly attributed to the strong demand for fiber-reinforced composites (FRC) from countries including the U.S., Canada, and Mexico. Asia Pacific is predicted to be the fastest growing market of fiber-reinforced composites (FRC) in the near future, owing to the increasing demand for automotive and building & construction. North America was followed by Europe and the Asia Pacific in 2017. The market growth rate in North America and the Asia Pacific is expected to stay higher in the coming years.
The major players of the global fiber reinforced composites (FRC) market include E. I. du Pont de Nemours and Company, BASF SE, Huntsman International LLC., Hexcel Corporation, Owens Corning, Reliance Industries Limited, TPI Composites, Inc., Toray Industries, Inc., Kineco Kaman Composites India Private Limited, Nippon Electric Glass Company Limited, RTP Company, Plasan Carbon Composites, COTESA GmbH, Enduro Composites, Inc., The Quadrant Group of Companies ,and HITCO Carbon Composites, Inc., among others.
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FrequentlyAsked Questions
The FRC industry is primarily driven by the desire for carbon fiber composite for long-haul and fuel-efficient aircrafts. The usage of carbon fiber composites in wings can lower the aircraft's weight by up to 50,000 pounds. It has a minimal thermal expansion, has a high strength-to-weight ratio, is rigid and chemically resistant.
According to the Zion Market Research report, the global fiber reinforced composites (FRC) market was worth about 88.1 (USD billion) in 2021 and is predicted to grow to around 135.1 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.2 percent.
Geographically, North America is expected to lead the global fiber reinforced composites (FRC) market during the forecast period. In recent years, North America has become one of the greatest markets for fiber reinforced composites. The construction industry is the primary market for fiber reinforced composites (FRCs), and it is predicted to offer the highest potential for market growth throughout the forecast period. Due to increased demand from sports/leisure, wind turbine, and defense & aerospace industries, this area is predicted to have the biggest demand for FRC.
Röchling Group, Plasan Carbon Composites, Mitsubishi Chemical Holdings, Hexcel Corporation, Avient Corporation, TPI Composites Inc., Toray Industries Inc., Solvay SA, SGL Carbon SE, and Saudi Basic Industries Corporation (SABIC), among others are some of the major players that are operating in the global fiber reinforced composites (FRC).
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