(MENAFN- Ameliorate Solutions) The market for FRP panels and sheets is expected to grow at a CAGR of 6% globally during the forecast period. Increasing demand from the transportation industry along with growing demand from the building and construction industry are driving the market growth. On the flip side, higher production costs coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

- The FRP panels and sheets market is expected to grow during the forecast period owing to the increasing demand from the transportation industry.

- Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as India and China.

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:

BRIANZA USA CORPORATION, Captrad Ltd, CRANE COMPOSITES, INC. (CRANE CO.), DOFRP (MIYABI FRP), Hill & Smith Holdings PLC, Kal-Lite, Kalwall, KREMPEL GmbH, Panolam Industries International, Inc., POLSER _effaf ‚atõ rtŸleri San. ve Tic. A._., Redwood Plastics and Rubber, Ršchling, STRONGWELL CORPORATION, Taizhou Zhongsheng FRP Co.,Ltd

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global FRP Panels and Sheets market, covering important regions, viz, North America, Europe, China and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of sales for the period 2015-2026.

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Increasing Demand from the Transportation Industry

- FRP panels and sheets are widely used in the transportation industry and are expected to grow rapidly during the forecast period.
- FRP referred to as Fiber Reinforced Plastics (or fiber reinforced polymer) composites made of a polymer matrix reinforced with fibers (carbon or glass fiber). FRP panels and sheets are produced using different techniques depending on the application and fiber content. Moreover, they possess superior characteristics such as lightweight, high stability, more durability, heat resistance, and free-foam structure.
- They are used in automobiles, recreation vehicles, trucks, trailers. They are light-weight, excellent strength, dimensional stability, and resistance to corrosion and UV rays.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), the worldwide automotive production in 2019 is about 91.78 million vehicles which declined by 5.2% compared to the previous year 2018. However, post COVID-19 measures by the government are expected to drive the automobile industry.
- The increase in demand for lightweight composites from the transportation industry drives the growth of the FRP panels and sheets market during the forecast period.

Asia-Pacific Region to Dominate the Market

- The Asia-Pacific region is expected to dominate the market for FRP panels and sheets during the forecast period as the increasing demand from countries like India and China.
- FRP panels and sheets are widely used in the building and construction industry being so ease of repairing, lightness, and resistance to water. Being a strong composite material and resistance to dirt and strain, it can be used for commercial as well as residential settings. They are installed over existing wall materials such as concrete, resulting in a water-proof installation and provide a new look for years.
- According to Chinas National Development and Reform Commission, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019 which are expected to be completed by 2025.
- Moreover, the Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years. Furthermore, the construction industry in India has received a major boost by the investment of USD 1.4 billion through private equity and venture capital investments during October 2019 is expected to drive the market in India and China.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for FRP panels and sheets market during the forecast period.

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FRP Panels and Sheets Marketing Analysis and Strategies Carry Out as below:

• The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
• The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the FRP Panels and Sheets market report.
• The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
• The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the FRP Panels and Sheets market and their impact on the revenue scale of this business sphere.
• The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the FRP Panels and Sheets Market report.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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