Global FRP Panels & Sheets Market to See 6.53% CAGR through 2021, Says MarketsandMarkets in Its New Publication Recently Added at MarketPublishers.com
16 Aug 2016 • by Natalie Aster
LONDON – The size of the world market for fiber reinforced polymer (FRP) panels and sheets is predicted to register growth at a 6.53% CAGR during 2016 – 2021, and by 2021 exceed USD 1.08 billion. Gradual recovery of non-residential construction and recreational vehicles industries, remarkable increase of the truck and trailer market and low maintenance cost and long life cycle of FRP panels and sheets are amid the key factors propelling growth of the world’s FRP panels and sheets market.
Recreational vehicles form the most rapidly growing application for the FRP panels and sheets; this end-use sector plays an important role in driving demand for FRP panels and sheets. After the recovery from economic downturn of 2008-2009, shipments of recreational vehicles grew from 356.7 thousand units in 2014 to around 374.1 thousand units in 2015 due to low interest rates and fuel prices, increasing popularity of outdoor activities (like tailgating, camping, sports events, etc.) and also escalating costs of airline fares.
North America ranks the biggest and the fastest-growing regional market for FRP panels and sheets. Sustained positive growth in this regional market is supported by increasing novel products launches along with continuously rising demand for light-weight, fuel-efficient and high-performance materials, especially from the construction and transportation industries.
New topical research publication “Fiber Reinforced Polymer (FRP) Panels & Sheets Market” by MarketsandMarkets offers unique info on the performance of FRP panels and sheets market on various geographical scales, discloses data on key market growth drivers and limiters, point out the most lucrative growth sectors and outlines possible challenges and opportunities. It characterises the regulative environment, delves into competitive landscape, features top trends and outlines future growth prospcts through 2021.
More new reports by MarketsandMarkets are given in this catalogue.