Research and Markets: In 2018, the Total Global FRP Panel Market is Expected to be 520 Million Pounds, Valued at $496 Million
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4259cp/the_global_frp) has announced the addition of the "The Global FRP Panel Market 2013-2018: Trends, Forecast and Opportunity Analysis" report to their offering.
“The Global FRP Panel Market 2013-2018: Trends, Forecast and Opportunity Analysis”
After experiencing decline over the last few years, the global Fibre-Reinforced Plastic (FRP) Panel market reported good growth in 2012. The future of global FRP Panel industry looks good with opportunities in building and construction as well as transportation industries. In 2018, the total market is expected to be 520 million pounds, valued at $496 million.
Much of the growth in this market can be attributed to three factors such as increasing energy efficiency requirements from consumers, escalating need for anti-corrosive applications, and greater focus on total lifecycle cost of end products as compared to those manufactured from materials such as steel and aluminium. In terms of regional growth, APAC is expected to be the growth leader followed by North America and Europe over 2013-2018.
Governmental regulation for VOC release and styrene emission which adds to the cost of manufacturers are challenge for the industry players. The analysis indicates that in recent years, no new technology or new legislation have been introduced that would significantly improve the growth of the global FRP Panel Industry. The market for FRP Panel products, however, will grow in single digit over the next five years because of new opportunities and increased market penetration in certain applications.
For market expansion the report suggests innovation of new products where the unique characteristics of composite materials can be capitalized. The report further suggests to develop partnerships with customers to create win-win situation and develop low-cost solutions for the end user. A better part design (design with composites mentality and not with metal mentality), lowcost raw material alternative, lower scrap rate, and improved production efficiency would make composites parts more cost competitive. As per the study, new resin systems will be introduced in the FRP Panel processing for a variety of reasons such as to increase line speeds, to increase flame, smoke, and toxicity (FST) performance, to decrease styrene content, and more.
For more information visit http://www.researchandmarkets.com/research/4259cp/the_global_frp
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.