The global market size for FRP bridges is estimated to be around USD 573.30 Million in 2024. It is projected to exhibit a CAGR growth of 6.10% over the forecast period, with an estimated market size of USD 1 Billion in 2034.
Infrastructure development projects are on the rise globally, particularly in countries like India, China, and the United Kingdom. These projects require sturdy and durable bridge materials that can withstand the test of time. This has opened new doors for FRP bridges, which have numerous advantages over traditional bridges made from materials like steel and concrete.
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Governments worldwide are promoting the use of sustainable and durable construction materials due to the rising awareness of the environmental impact on the surroundings. Engineers and architects are also recognizing the benefits of FRP bridges in terms of longevity and cost-effectiveness. This is why, there is a growing demand for FRP bridges in the construction and infrastructure development sector.
Urbanization and modernization are also expanding in countries like Japan, China, and India, leading to the construction of new bridges and the renovation of existing ones, leading to lightweight bridge solutions being in demand, particularly in areas with challenging terrain or environmental conditions. Innovations in FRP technology have also led to enhanced strength and durability of bridge structures, making them ideal for these projects.
Key Takeaways from the Market Study:
- The glass fiber segment dominates the global FRP bridge market with a CAGR of 80%.
- On the basis of the resin type, the vinyl ester segment leads the FRP bridge market with a CAGR of 70%.
- The FRP bridge market in the United States is anticipated to grow at a CAGR of 30% through 2034.
- The FRP bridge market in China is estimated to rise at a 40% CAGR through 2034.
- The FRP bridge market in Japan has the potential to increase at 50% CAGR through 2034.
- The United Kingdom’s chemical vapor deposition market is predicted to rise by 90% CAGR through 2034.
- The chemical vapor deposition market in South Korea is very likely to grow at a CAGR of 10% through 2034.
“Product development and keeping up with the latest innovations in the industry is very essential in this market. Companies in the FRP bridge market must invest in research and development to innovate new FRP bridge solutions, such as modular systems, pedestrian bridges, and trail bridges. This will help them enhance durability, ease of installation, and performance in various environmental conditions,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
- FRP bridges are becoming increasingly popular due to their lightweight, durable, and corrosion-resistant nature.
- The market for FRP bridges is highly competitive, with many companies worldwide vying for a share of the market.
- Some of the most prominent companies in this market include B&B FRP Manufacturing Inc., Bedford Reinforced Plastics, Composite Advantage, LLC., Creative Pultrusions, Inc., CTS Bridges Ltd, etc.
- Key players in the market often collaborate with government bodies and defense entities to develop innovative solutions that meet specific infrastructure and defense requirements.
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Key Companies Profiled:
- B&B FRP Manufacturing Inc.
- Bedford Reinforced Plastics
- Composite Advantage, LLC.
- Creative Pultrusions, Inc.
- CTS Bridges Ltd
- Strongwell Corporation
- Hughes Brothers, Inc.
- Fibrelite
- Exel Composites
- RS Technologies Inc.
- Tuf-Bar
- Diversified Structural Composites
- Kenway Corporation
- Ten Cate
- Martin Marietta Composites
- Owens Corning
- AIT Bridges
- ACE Advanced Composite Engineering GmbH
- Sireg Geotech Srl
- Molded Fiber Glass Companies
FRP Bridge Market Segmentation Analysis:
By Type:
- Glass Fiber
- Carbon Fiber
By Resin Type:
- Vinyl Ester
- Polyester
- Others
By Manufacturing Process:
- Pultrusion
- Hand Lay-Up
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI):
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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