Pultrusion Market

Pultrusion Market Size & Growth (2023-2028):

The Pultrusion Market is expected to reach approximately $ 6.4 billion by 2028 with a CAGR of 6.52% between 2023-2028

The main driver of this market is the growing demand for lightweight, corrosion-resistant products. and durable for various end uses. Industries.

Pultrusion is a continuous process used to manufacture composite materials with constant sections. The pultrusion and extrusion processes are similar in that they both allow the formation of continuous lengths of material and a constant profile. In extrusion, the material is pushed through a die to achieve the desired cross-section, while pultrusion works by pulling the material to form a composite material. Pultrusion is used for various applications, such as agricultural and chemical industries, construction, aerospace industry, etc.

The trend, which has a direct impact on the dynamics of the pultrusion industry, includes the strategic collaboration of pultruded part manufacturers with OEMs to meet unique needs and find new areas of application. In addition, upcoming technological advancements, industrial developments, and innovative techniques developed for the use of pultrusion are expected to influence market growth.

Pultrusion Market Drivers

The foremost driver of this market is the increasing demand for lightweight, corrosion-resistant and durable products for several end-use industries. The increasing demand for products made by pultrusion in the industrial and electrical sectors due to their properties such as chemical stability, dielectric stability, durability, and others, is an important factor that is expected to drive the growth of the global pultrusion market in the United States. during the forecast period.  In addition, the increasing use of pultrusion products for the construction, automotive, and aerospace industries, due to lightness, stiffness, improved stiffness, and other properties is another factor that is anticipated to drive the growth of the target market throughout the forecast period. In addition, rapid urbanization coupled with rising disposable income are among the factors that are likely to support the potential income growth of the market during the forecast period. The increase in rebar and grating applications will lead to an increased demand for durable products to withstand corrosive environments. An increased focus on the full life cycle cost of finished products, along with the growing energy efficiency needs of consumers, will continue to be a key driver of global market growth. With rapid industrialization and a growing economy in emerging countries, cyclical industries such as construction and infrastructure are expected to grow at a rapid rate, increasing the demand for pultruded structural parts.

Pultrusion Market Restraints

The pultrusion market has experienced strong growth in recent years due to strong demand from end-user industries in the USA, Germany, France, China, and Japan. However, factors such as lack of recyclability and high cost of raw materials compared to traditional materials may hamper the market growth.

Opportunities in the Pultrusion Market

Opportunities in the Pultrusion market are in shipment, infrastructure, consumer stock, and construction sectors. Increasing R&D investment by manufacturers due to increasing demand for pultruded products in various applications is expected to create lucrative opportunities for target market growth during the forecast period. Improvements in automated operations give pultrusion companies a greater opportunity to engage in large-scale partnerships with green companies while reducing the total cost of products manufactured.

Challenges in the Pultrusion Market

The resilience issues and raw material cost compared to traditional materials may challenge the growth of the pultrusion market to some extent during the forecast period.

PULTRUSION MARKET REPORT COVERAGE:

Pultrusion Market Segmentation

Pultrusion Market - By Application:

• Window Profiles

• Rebar

• Ladder Rails

• Cable Trays

• Electric Insulators

• Decking

• Grating

• Road Markers

• Sound Barriers

• Sporting Goods

• Tool Handles

• Utility Poles

• Structural Shapes

• Transportation

• Wind Energy

• Others

Pultruded products are used in different applications due to their physical and mechanical properties such as lightness, high mechanical strength, heat resistance, chemical stability, thermal stability, recyclability, dimensional stability, and good optical clarity.

Pultrusion Market - By Attribute:

• Corrosion

• Non-Corrosion 

Pultrusion Market - By End-Use:

• Wind Energy

• Transportation

• Electrical & Electronics

• Consumer Goods

• Other 

Pultrusion Market - By Fiber Type:

• Glass Fiber Composites 

• Carbon Fiber and other Composites

The fiberglass segment dominates the pultrusion market because it offers properties such as corrosion resistance, flame retardancy and product appearance. Carbon fibers are widely used in commercial applications such as rebar and structural components in the aerospace and defense industry.

Pultrusion Market - By Resin Type:

• Polyester Composites 

• Epoxy Composites 

• Vinylester Composites 

• Phenolic Composites

• Phenolic and other composites

Resin provides environmental resistance (I,e  corrosion resistance, UV resistance, impact resistance, etc.), while glass provides strength as well as fire safety.

Pultrusion Market - By Region:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

Currently, Asia-Pacific is the largest consumer of pultruded parts; China and Japan are the main countries in terms of consumption. Urbanization and rapid industrialization have boosted the construction and infrastructure sector in Asia-Pacific. This has increased the demand for pultruded structural parts in the region. In addition, Asia-Pacific and North America are the most active markets in terms of strategic initiatives, due to their demand from emerging markets. Expansion of end-user industries, increase of local manufacturing and a growing number of domestic players in the vertical market segment (e.g- industrial applications) are factors that propel the pultrusion market.

Asia-Pacific and North America are the most active markets in terms of strategic initiatives, due to their demand from emerging and mature markets, respectively.  Drivers of market growth include end-user sector growth, amplified local manufacturing, and an increased number of domestic players in vertical market segments, for example, industrial applications. North America will continue to be the largest region in value and volume and is also expected to experience the strongest growth over the forecast period, supported by increased residential construction and government energy efficiency regulations.

North America is expected to dominate the global pultrusion product market due to the increased acceptance of pultruded parts by designers in various end applications. Isopolyester and vinyl ester are the most widely consumed pultruded products in the region. Isopolyester reports for over 75% of the share, accompanied by vinyl ester, which holds for about 15% of regional demand. Growing demand supports the production of strong compounds for a number of applications. The growing demand for pultruded products from various end-use industries and the presence of prominent players in countries in the region is a predicted factor to support the revenue growth of the North American pultrusion market over the course of the forecast period.

Europe, led by the UK and Germany, will experience steady growth due to developed industrial sectors. However, lightweight composites for rebar and grating applications in new construction projects will support the growth of the pultrusion products market. The construction of FRP cooling towers in the region will increase the size of the product market during the forecast period.

Pultrusion Market Key Players:

1. Strongwell Corporation (U.S.)
2. Exel Composites (Finland)
3. Bedford Reinforced Plastics (U.S.)
4. Jiangsu Jiuding New Material Co. (China)
5. Faigle Kunstsoffe GmbH (Austria)
6. Diversified Structural Composites (U.S.)
7. Creative Pultrusions (U.S.)