FRP Bridge Market is expected to grow up to USD 72.5 Million By 2021

The report "FRP Bridge Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin (Vinylester, Polyester), Manufacturing Process (Pultrusion, Hand Lay-Up), Application (Deck, Girders, Rebars), Bridge Type (Vehicular, Pedestrian), Region - Global Forecast to 2021", published by MarketsandMarkets, the market was valued at USD 50.1 Million in 2015 and is projected to reach USD 72.5 Million by 2021, at a CAGR of 6.40% between 2016 and 2021.

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By fiber type, the glass fiber segment accounted for the largest share of the FRP bridge market in 2016, in terms of value. High strength, chemical resistance, and good stiffness offered by glass fibers as well as their easy availability and cost effectiveness are key factors propelling the demand for glass fibers in the FRP bridge market.

North America is projected to be the largest and the fastest-growing region in the FRP bridge market during the forecast period. One of the major factors driving the growth of the FRP bridge market in this region is the growing use of FRP materials in the manufacturing of decks. In addition, the presence of key players, such as Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S.), and Bedford Reinforced Plastics (U.S.), among others, have strengthened the growth of the FRP bridge market in this region.

FiberCore Europe (Netherlands), Fiberline Composites A/S (Denmark), Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S), and Bedford Reinforced Plastics (U.S.) are some of the major market players. These players have adopted several organic and inorganic growth strategies to establish themselves strongly in the global FRP bridge market.

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