Global Pultrusion Market Size, Share, and COVID-19 Impact Analysis, By Type (Glass Fiber, Carbon Fiber & Others), By Resin Type (Polyester, Vinyl Ester, Polyurethane, Epoxy Resin & Others), By End-Use (Construction, Aerospace, Wind Energy, Transportation, Electrical & Electronics, Consumer Goods & Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030

Market Perspective

The Pultrusion Market was valued at USD 2.04 Billion in 2021. The market is projected to grow USD 14.56 Bn in 2030, at a CAGR of 5.1%.

Using the pultrusion process, reinforced materials like branded threads, fibres, and woven fabrics are saturated with resin to make composite materials. Dragging the reinforcement through the bath or injecting the resin into an injection chamber are the final steps in the infusion process.This injection chamber is connected to the dye. Polyester, polyurethane, epoxy, and other thermosetting polymers are used in this process. Among the thermosetting polymers used in this process are polyester, polyurethane, vinyl ester, and epoxy.

COVID-19 ANALYSIS

The negative impact of COVID-19 is projected on the pultrusion in the forecast period. The abrupt COVID-19 pandemic breakout had caused the introduction of strict lockdown measures across a number of nations, which temporarily halted a great deal of construction operations and adversely affected the market for pultrusion market.

TREND

Rising Usage of Grating Applications

The demand for durable materials that can withstand corrosive environments will increase as grating and rebar usage increases. The growing emphasis on the total lifetime cost of finished goods and the rising consumer demand for energy efficiency will continue to be key drivers of the global market's expansion.

DRIVERS

Surging Demand in Aerospace Industry

Pultruded FRP (Fiber-reinforced Plastic) composites are gaining popularity in the aerospace industry thanks to their high performance and inexpensive cost. The aircraft industry is being completely transformed by the use of improved FRP composites. Because of this, FRP composites are crucial for establishing structural stability and endurance.

RESTRAINT

Fluctuating Prices of Raw Material Hampering the Market Growth

Raw materials for the pultrusion method require significantly more money than those for the conventional approach do. Recyclability is a significant problem with pultrusion techniques. These elements are anticipated to limit market expansion.

SEGMENTATION INSIGHT

The global pultrusion market is segmented by Type (Glass Fiber, Carbon Fiber and Others), By Resin Type (Polyester, Vinyl Ester, Polyurethane, Epoxy Resin and Others), By End-Use (Construction, Aerospace, Wind Energy, Transportation, Electrical & Electronics, Consumer Goods & Others, and Region. Based on the type, the market is categorized glass fiber, carbon fiber and others. Based on resin type, the market is categorized into polyester, vinyl ester, polyurethane, epoxy resin and others. Based on end-use, the market is categorized into construction, aerospace, wind energy, transportation, electrical & electronics, consumer goods & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

REGIONAL INSIGHTS

The global pultrusion market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

North America region is dominating the market share of global pultrusion market owing to the designers employ pultruded parts more frequently in a variety of end-use applications, the North American area now holds a disproportionately large share of the worldwide pultrusion industry. Isopolyester and vinyl ester are the two pultruded materials that are most frequently used in the region. Isopolyester controls more than 75% of the market, with vinyl ester accounting for around 15% of local demand. Rising demand for a range of uses has led to the production of strong composites. Over the course of the projection period, increased production of building components including windows, pilings and panels, electrical infrastructure, and civil engineering will support the market expansion for pultrusion goods.

However, Asia Pacific region is anticipated to grow over the next few years of global pultrusion market owing to the rise in rehabilitation projects on insufficiently functional structures, the Asia Pacific region of the global pultrusion market is predicted to expand over the coming years. Demand for the products in the area was driven by the building industry's need for electrical and thermal insulation as well as designers' desires for strong, lightweight structural composites that wouldn't corrode. Over the projection period, technological developments in structural composite design and material will support product penetration. FRP pultruded product demand has increased dramatically over the last few years, largely as a result of expansion in the construction, automotive, aerospace, and wind energy industries. China's fishing industry is one of the main buyers of pultruded goods in the region..

LIST OF KEY COMPANIES PROFILED:

• Ashland Composite Polymers
• Bedford Reinforced Plastics
• Creative Composites Group
• Fibergrate BV
• Fiber-line
• Fibreforce Composites
• Jiangsu Amer New Material Co., Ltd.
• Kineco Exel Composites India
• Pultrex
• Pultron Composites
• Reliance Industries Ltd.
• STRONGWELL CORPORATION
• Others

Key Developments:

April 2022- Kineco Kaman has successfully completed its first commercial delivery of Composite Equipment Bay Shroud (EBS) Assembly to Vikram Sarabhai Space Centre (VSSC), a division of Indian Space Research Organization (ISRO).

October 2021- Kineco Group has signed an agreement to establish a joint venture to develop the Indian pultrusion market together with Exel Composites to form Kineco Exel Composites India.

SEGMENTATION

By Type

• Glass Fiber
• Carbon Fiber
• Others

By Resin Type

• Polyester
• Vinyl Ester
• Polyurethane
• Epoxy Resin
• Others

By End-Use

• Construction
• Aerospace
• Wind Energy
• Transportation
• Electrical & Electronics
• Consumer Goods
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa