FRP Bridge Market expected to be Worth 72.5 Million USD by 2021
[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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Premium Insights of the report:
- Attractive Growth Opportunities in FRP Bridge Market
- FRP Bridge Market, By Application
- FRP Bridge Market, By Bridge Type and Region
- FRP Bridge Market, By Country
- FRP Bridge Market, By Manufacturing Process
The FRP bridge market has been segmented on the basis of resin type, fiber type, manufacturing process, bridge type, application, and region. Among all applications, the deck segment accounted for the largest share of the FRP bridge market in 2016, in terms of value. FRP materials are used in bridge decks owing to their ideal properties, which include resistance to corrosion and high strength-to-weight ratio.
Some of the key players in the FRP Bridge Market include Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S.), Bedford Reinforced Plastics (U.S.), and Fiberline Composites A/S (Denmark). These players have adopted various organic and inorganic developmental strategies, such as new product development, expansion, agreement, and partnership, between the year 2011 and 2016.
U.S. was the major market for FRP bridge in the North American region. The support of the government coupled with the aid provided by the construction agencies, especially the Federal Highway Administration (FHWA), have significantly contributed to the growth of the FRP bridge market in the U.S.
The FRP bridge market is segmented by bridge type into pedestrian bridge and vehicular bridge. FRP materials are used to manufacture these two types of bridge across the world. The vehicular type of bridge dominates the FRP bridge market globally. The ease of installation and ease of maintenance provided by the utilization of FRP materials have supported the growth of the vehicular bridge segment globally.
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