The global pultrusion market size is projected to experience dynamic growth in the forthcoming years owing to the increasing demand for light-weight materials across the world, finds Fortune Business Insights™ in its report, titled “Pultrusion Market, 2021-2028”.
Pultrusion process is a highly automated incessant fiber laminating process used to produce high fiber volume profiles with a constant cross section. There has been an increasing demand for light-weight materials across the world owing to the economic way of impregnating and curing materials. This has resulted in the increasing demand for pultrusion across several regions of this market. However, the cost of raw materials is very expensive, which is projected to hinder the growth of this market.
The pultrusion market may suffer due to the COVID-19 pandemic as this process is widely used in the chemicals and materials industry. Since the outbreak of the epidemic, the chemicals operations have been severely impacted, obstructing the investment plans in these industries. Further, the travel and lockdown restrictions across the world have also caused huge impact on all the industries, which has led to the reduction in the demand for pultrusion market.
On the basis of type, this market is divided into carbon fiber, glass fiber, and others. Based on application, the market is classified into housing, industrial, civil engineering, consumers, and others. By geography, the market is categorized into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa
List of Key Players Covered in Pultrusion Market Report:
This research report offers an in-depth study of the driving factors, restraints and trends influencing the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by market players to strengthen their position.
Rising Demand for Pultruded Partsacross the World to Fuel the Market
There has been an increasing demand for pultruded parts around the world owing to their utilization in several industries such as housing, industrial, chemicals, and others, which is anticipated to augment the growth of this market. Further, the rising investments by key companies in the chemicals industry have led to the propelling of this market across several regions.
Growing Demand for Pultrusion Procedure to Boost the Asia Pacific Market Growth
Asia Pacific region is considered to dominate in the pultrusion market share on account of the increasing demand for pultrusion process from the countries such as India and China.
North America region is projected to grow steadily in this market due to the increasing initiatives of the manufacturing companies present in the U.S.
Europe is expected to grow rapidly in this market due to the fast growth of the chemicals and materials industries in this region.
Strategic Alliances to Feed Market Competition
Key market players are actively collaborating with their competitors to strengthen their manufacturing and production capabilities for the pultrusion process. Moreover, such partnerships are allowing the key companies to widen their position in the market and expand their business foothold.
April 2018: Excel Composites announced the acquisition with DSC, a subsidiary of Teijin Carbon America. DSC primarily uses pultrusion for carbon fiber and glass fiber reinforced thermoset products.
March 2017: Diversified Structural Composites Inc., (DSC) announced the exhibition of its pultruded composites at JEC World 2017. The products include pultruded composite profiles known as pultrusions for automobile applications.
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