Global Pultrusion Market: Overview
"The Pultrusion Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Pultrusion is a continuous process used to manufacture composite materials having constant cross-section. Pultrusion and extrusion processes are similar as they both allow formation of a continuous lengths of material and constant profile.
In extrusion material is pushed through a die for desired cross-section whereas pultrusion works by pulling the material to form composite material. Pultrusion is used for various applications such as agriculture and chemical industries, construction, aerospace, and others.
Global Pultrusion Market: Dynamics
Rising demand for products manufactured by pultrusion in industrial and electrical sectors owing to its properties such as chemical stability, dielectric stability, durability, and others, is a major factor expected to drive growth of the global pultrusion market over the forecast period. Moreover, increasing use of pultrusion products for construction, automotive, and aerospace sectors, owing to light weight, rigidity, enhanced stiffness, and other properties, is other factor anticipated to drive growth of the target market over the forecast period. Furthermore, rapid urbanization coupled with increasing disposable income, are among some factors expected to support revenue growth of the potential market over the forecast period.
However, stringent regulations pertaining to recyclability of composite materials and high cost of raw materials are among the factors which may hamper growth of the target market over the forecast period.
Increasing investment in research and development by manufacturers owing to rising demand for pultruded products in various applications, is expected to create a lucrative opportunity for growth of the target market over the forecast period.
Global Pultrusion Market: Segment Analysis
On the basis of fiber type, the glass fiber segment is expected to hold major revenue share contribution in the target market over the forecast period. Growth of the segment can be attributed to its properties such as incombustibility, corrosion resistance, and appearance.
On the basis of resin type, the polyester segment is expected to grow at high growth rate in terms of revenue in the target market over the forecast period. On the basis of application, the industrial segment is anticipated to account for major share in terms of revenue in the target market over the forecast period.
Global Pultrusion Market: Regional Analysis
The pultrusion market in Asia Pacific accounts major share contribution in terms of revenue and is expected to dominate the target market over the forecast period. Growth of pultrusion market in the region can be attributed to growing demand for products manufactured by pultrusion process in various applications such as automotive, construction, and others in countries in the region.
The Asia Pacific pultrusion market is expected to witness fastest growth in terms of revenue in the target market over the forecast period. China and Japan are anticipated to account for highest revenue share contribution in the pultrusion market in Asia Pacific. The North America pultrusion market expected to grow at high growth rate in the global market over the forecast period.
Increasing demand for pultruded products from various end use industries and presence of prominent players in countries in the region is a factor anticipated to support revenue growth of the North America pultrusion market over the forecast period.
Global Pultrusion Market Segmentation:
Segmentation based on Fiber Type:
- Glass Fiber
- Carbon Fiber
- Other Fibers (Aramid and Natural)
Segmentation based on Resin Type:
- Vinyl Ester
- Other Resins (Polybutylene Terephthalate and Polyethylene Terephthalate)
Segmentation based on Application:
- Others (Transportation, Agriculture, and Consumer Goods)
Segmentation based on Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Exel Composites OYJ
- Strongwell Corporation
- Bedford Reinforced Plastics, Inc.
- Fibrolux GmbH
- Hill & Smith Holdings PLC
- JAMCO Corporation
- Jiangsu Jiuding New Material Co. Ltd.
- Fibergrate Composite Structure, Inc.
- Faigle Kunstsoffe GmbH
- PolyOne Corporation
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