Global Pultrusion Market Witnesses High Growth owing to Rising Demand for Composite Materials
The global pultrusion market comprises of reinforced products such as rods, pipes, structural shapes and profiles that are manufactured through an continuous manufacturing process called pultrusion. Pultruded products are known for their superior strength, corrosion resistance and long service life. They find wide applications in industries such as construction, infrastructure, transportation and electrical among others. The rising infrastructure development activities around the world especially in Asia Pacific and Middle East regions are expected to drive demand for pultruded components in the coming years.
The Global pultrusion Market is estimated to be valued at US$ 4.01 Bn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the global pultrusion market are Avient, Exel Composites, Bedford reinforced plastics, Faigle Kunstsoffe GmbH, Strongwell Corporation, Creative Pultrusions, Jiangsu Jiuding New Material Co. Ltd., Werner Ladder, Masco, Pultrex, Haysite reinforced plastics, Liberty Pultrusions, Toray Industries Inc, Pultron Composites Limited, Tencom Ltd., Fibergrate Composite Structures Inc, Fiberline Composites A/S, Jamco, Arvind Composites (Arvind Ltd.).
Key opportunities in the market include development of bio-based pultrusion materials and sustainable pultruded composites. The market players are investing in R&D to develop new product variants made from sustainable raw materials like jute, flax and other natural fibers.
The pultrusion market is witnessing rising global expansion primarily driven by infrastructure development in Asia Pacific and Middle East regions. The market players are focusing on these high growth regions by establishing new manufacturing facilities and through partnerships with local players.
Market Drivers
The Global Pultrusion Market Growth is the rising infrastructure development activities around the world especially in developing economies. Pultruded components find wide usage in construction of bridges, electricity transmission towers, railings and other infrastructure elements. Therefore, growing infrastructure budgets of governments is directly driving demand for pultruded products. The other major driver is increasing replacement demand for aging infrastructure in North America and Europe regions which is propelling market growth.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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