“The FRP bridge market is projected to grow at a CAGR of 6.40% from 2022 to 2031, in terms of value”
The report concentrates on the utilization of various FRP materials used in the manufacturing of bridges. 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.
The market size of FRP bridge is projected to reach USD 72.5 million by 2031, at a CAGR of 6.40% from 2022 to 2031.
However, the lack of knowledge of the codes and standards by bridge engineers regarding the amalgamation of resins with fibers and issues related to the recyclability and disposal of composites may hamper the growth of this market.
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“The deck segment is the largest application segment of the FRP bridge market, in terms of value”
The FRP materials provide high corrosion resistance, high strength to weight ratio, and good tensile strength. These advantageous offerings have boosted the growth of FRP materials market in the deck application segment.
“North America is the fastest-growing market for FRP bridge”
The North America FRP bridge market is witnessing significant growth, in terms of value. The increasing demand for high corrosion resistance, lightweight, and high strength materials is driving the growth of the FRP bridge market in this region. Government support and the help of construction agencies, such as the Federal Highway Administration (FHWA), are also factors driving the growth of the FRP bridge market in this region.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
• By company type- Tier 1 – 43%, Tier 2 – 40%, and Tier 3 – 17%
• By designation- C Level – 55%, Director Level – 15%, and Others – 30%
• By region- North America – 33%, Europe – 30%, Asia-Pacific – 15%, Middle East & Africa – 12%, and Latin America – 10%
The report provides a comprehensive analysis of the following companies:
• Strongwell Corporation (U.S.)
• CTS Bridges Ltd. (U.K.)
• Bedford Reinforced Plastics (U.S.)
• Fiberline Composites A/S (Denmark)
• Creative Pultrusions, Inc. (U.S.)
• Composites Advantage (U.S.)
• Lifespan Structures (U.K.)
• Kenway Corporation (U.S.)
• Zellcomp, Inc. (U.S.)
• B&B FRP Manufacturing, Inc. (U.S.)
• Fibercore Europe (Netherlands)
• Guardian Bridge Rapid Construction Inc. (Canada)
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This report covers the FRP bridge market on the basis of fiber type, resin type, manufacturing process, bridge type, application, and region. It aims at estimating the market size and future growth potential across the above-mentioned segments. Furthermore, the report also includes an in-depth competitive analysis of key players in the market, along with company profiles, SWOT analysis, recent developments, and key growth strategies.
Reasons to buy the report:
The report will help market leaders/new entrants by providing them the closest approximations of revenues for the overall FRP bridge market and its subsegments. The report will also help stakeholders better understand the competitive landscape and gain more insights to better position their businesses and market strategies. It will assist stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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Shibuya Data Count
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