Publish Time: 2021-11-18 Origin: Site
Fiber reinforced plastic (FRP) is a composite material made of a fiber-reinforced polymer matrix. The commonly used fibers are glass and carbon produced by fiber sheet making machine. Resins are essential frp sheet material, which can be either thermosetting or thermoplastic, depending on performance requirements such as flame retardancy, corrosion resistance, chemical resistance and cost effectiveness. Common resins are polyesters, epoxies, and vinyl esters. Fiber reinforce plastic sheets are widely used because of their lightness, resistance to mold, durability, high strength to weight ratio, ease of cleaning, high moisture resistance, chemical resistance, low maintenance, high impact resistance and ease of installation. Plain frp sheets and panels are majorly manufactured with glass fiber reinforced polyester resins.
FRP panels and sheets account for a small share of the global composite end-product market (less than 5%) and occupy a unique position in the overall composite sector, where panels are increasingly favored among major competitors such as aluminum panels, wood panels and plastic panels. By focusing on market share and research and development efforts, the major market players have gained excellent product development capabilities and high brand awareness. Today, manufacturing frp plastic panels for different industries has become difficult due to high technical requirements and the high cost of raw materials (a key factor that limits the number of manufacturers active in the market).
The COVID-19 outbreak has severely affected most end-use industries, including aerospace and defense, recreational vehicles, marine, transportation, and construction, where FRP panels & sheets are used due to their lightweight advantage along with higher strength compared to conventional panels & sheets and moderate frp sheet cost. The COVID-19 is still spreading and taking major economies in its clasp and has weakened the market conditions.
Among them, based on end-use industry type, Aerospace & Defense is expected to maintain its dominant position in the FRP sheet market during the forecast period. The expected growth in commercial aircraft production, the expected entry of COMAC and Irkut aircraft, the approval of the B737 MAX by the FAA and other agencies, and the increasing preference of FRP panels over traditional panels are driving the use of fiber reinforced plastic panels in this field. Construction, transportation and recreational vehicles have also created a huge demand for frp sheet manufacturers.
The FRP panels & sheets market consecutively grew during the last four years of trend period (2014-2018) followed by a decline in 2019 mainly due to the grounding of B737 MAX and US-China trade war. Now, the rapid spread of the COVID-19 pandemic has entirely flipped the market dynamics and fueled the existing industry challenges such as delays in B737 MAX approval, production halts across regions, declining shipment trends of RVs, decline in automobile production and construction activities due to lockdown.
As of now, it is difficult to state when the impact of the pandemic starts to fade away. However, it is predicted that the demand for FRP panels & sheets would stabilize in 2021. The impressive recovery is anticipated to begin from 2022, followed by subsequent healthy growth till 2025 to reach US$ 4.0 Billion. An expected recovery in the GDP across regions, increasing construction activities, expected increase in commercial aircraft production, B737 MAX's approval from FAA and other bodies, expected entries of COMAC and Irkut, and increasing outdoor participation will help the major industries to recover, which, in turn, assist the recovery of the FRP panels & sheets market.
Hangzhou Saining Polycarbonate Sheet Co., Ltd. was founded in 1997, a manufacturer that specializes in producing various kinds of high-quality fiber reinforce plastic sheets (such as frp corrugated sheets and transparent frp sheets).