FRP Bridge Market Expected to Collect 6.78 Billion USD by 2021 with Market Leaders & Key Revenue Pockets
[138 Pages Report]
The FRP Bridge Market report
concentrates on the utilization of various FRP materials used in the
manufacturing of bridges. In terms of value, the FRP bridge 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. FRP bridges have increasingly gained
acceptance from civil engineers across the globe due to the several useful
properties offered by them, such as high corrosion resistance against de-icing
salt, high strength to weight ratio, and increased shelf-life of the bridges.
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Drivers & Opportunities
in global industry:
·
Superior Properties and Ease of Installation
·
Growing Use of FRP Materials in the Manufacturing
of Decks
·
Rising Awareness About Repairing and Retrofitting
of Existing Bridge Structures
·
Growing Use of Composites in the Building of
Bridges
Growth strategies adopted by key players in the FRP bridge
market include agreements/partnerships, expansions, and new product launches.
Agreements/partnerships and expansions were the most widely adopted strategies
between 2011 and 2016, having accounted for a share of 55.2% and 34.5%
respectively of all the strategies adopted during the period. These strategies
have helped major players to increase their production capabilities and market
shares and to cater to the increasing demand for FRP bridges in the emerging
markets.
The major players in the FRP bridge market include FiberCore
Europe (Netherlands), Fiberline Composites A/S (Denmark), Strongwell
Corporation (U.S.), Creative Pultrusions, Inc. (U.S.), and Bedford Reinforced
Plastics (U.S.), among others. These players adopted various organic and
inorganic growth strategies to increase their market share and global presence
in the FRP bridge market.
Creative Pultrusions and Strongwell are the prominent players
in the FRP bridge market. These players accounted for the maximum share of the
overall growth strategies adopted between 2011 and 2016. Creative Pultrusions
is predominantly engaged in the manufacturing of fiber reinforced polymer (FRP)
products, which include beams and planks, among others, for application in FRP
bridges. These products have helped the company to cater to the increasing
demand for FRP materials from the FRP bridge market. The company also acquired
a prominent bridge manufacturer named E.T. Techtonics (U.S.) in early 2016 to
fortify its FRP bridge installation business.
Strongwell, another prominent player in the FRP bridge market,
is amongst the largest pultruders of FRP structural components. The company is
a major player specializing in the manufacturing and marketing of pultruded
fiberglass structures and shapes for the FRP bridge market. The company majorly
focuses on the expansion strategy to fortify its FRP bridge business. For
instance, in October 2014, the company expanded its FRP bridge business by
opening a new bridge between Oakland (U.S.) and San Francisco (U.S.). The
bridge constituted FRP panels that provided the bridge with lightweight and low
maintenance properties. This development strategy has helped the company
increase its market share in the North American FRP bridge market.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com
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