Fiber Reinforced Plastics Industry Expected To Regain Strength During 2020-2025 | Grand View Research, Inc.

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According to a new study by Grand View Research, the market can be divided into glass fiber, carbon fiber and aramid fiber. Among these, glass fibers have the largest market share as they are cost effective and have low conductivity.

Sourcing prospects

Fiber reinforced plastics is a composite material composed of polymers. These polymers are backed with fibers for added strength. The primary use of fiber reinforced plastics is to build structures that require additional strength under stress to prevent deformation. Moreover, it also prevents corrosion. As such, fiber reinforced plastics find their use in industries such as aerospace, construction and marine.

Fibre-reinforced plastics are mainly used for specialist applications where the strength of the material must be customized according to customer requirements. The industry mainly operates on a pricing system based on value, degree of customization and requirement leading to product price.

Demand Outlook

Global Fiber Reinforced Plastic Market was valued at USD 52.88 Billion in 2020 and is projected to grow at a steady CAGR of 6.4% to reach USD 72.12 by 2025. The market can be divided into Glass Fiber , carbon fiber and aramid fiber. Among these, glass fibers have the largest market share as they are cost effective and have low conductivity.

Grab your copy or request a free sample of “Fiber Reinforced Plastics Industry Supply Information Report, published by Grand View Researchfor in-depth details on vendor ranking and selection, sourcing, and pricing criteria and strategies. Cost Drivers

With the aerospace and automotive industries requiring stronger materials than fiberglass, the need for carbon fibers is increasing. In some cases, especially in the aerospace industry, there is a niche for adopting aramid fibers. Both of these varieties are more expensive than fiberglass and help the market grow from a value-oriented perspective.

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A smart and efficient supply chain is essential to the growth of any organization. Pipeline Division at Grand View Research provides detailed insights into every aspect of the supply chain, helping to make effective sourcing decisions.

Our services include (but are not limited to):

• Market intelligence involving – market size and forecast, growth factors and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownership

• Vendor Intelligence: Detailed insights into the vendor landscape and identification of vendors that dominate, emerge, bask, and specialize

• Sourcing/Procurement Intelligence – best practices followed in the industry, identification of standard KPIs and SLAs, peer analysis, negotiation strategies to be used with best-suited suppliers and countries for sourcing to minimize disruptions to the Supply Chain

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