Global Fiber Reinforced Plastic Panels and Sheets market was valued at USD 1,248.16 million in 2022 and is estimated to reach a value of 1,626.85 by 2033 with a CAGR of 4.4%. In terms of primary factor, increasing consumption of composites from heavy truck and trailer market is primarily driving the market growth.

As per the data released by FTR transportation intelligence states that, preliminary trailer orders surged in March to 36,200 units, an increase of 41% month-over-month and 29% year-over-year. According to FTR, trailer orders for the past 12 months have totaled 252,000 units. Polymer-reinforced composites provide better crash performance than traditional steel. The latter typically absorb only 35 J/kg of energy, while thermoset composites absorb almost twice as much. Thermoplastic composites absorb 5 to 6 times more energy than steel.

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Fiber preforms are manufactured through weaving, braiding, stitching, and knitting. Weaving is used in making both two-dimensional and three-dimensional fibers and is suitable for the manufacture of high-value and narrow-width products. It has its downsides, though. For one, weaving multilayer fibers is time-consuming and fairly more expensive.

Also, it is difficult to create fabrics with fibers that are oriented to each other at anything other than 90-degree angles. Braiding is way better in that aspect as it allows for fibers to be aligned at 45 degrees to each other. Through two-step braiding, manufacturers can create right about any shape of preform. Knitting typically produces two-dimensional fabric, but the creation of multilayer fabric is possible with machines fitted with more than one needle bed.

COVID Impact

The COVID-19 pandemic has had a mixed impact on the fiber reinforced plastic (FRP) panels and sheets industry.

On one hand, the demand for FRP panels and sheets has increased in certain applications due to the pandemic. For example, FRP panels are being used to build temporary structures such as field hospitals, isolation rooms, and testing centers. FRP sheets are also being used to manufacture protective shields and barriers to help prevent the spread of the virus in public spaces.

On the other hand, the pandemic has also had a negative impact on the FRP industry in other areas. The construction industry, which is a major consumer of FRP panels and sheets, has experienced significant disruptions due to the pandemic, leading to a slowdown in demand for construction-related FRP products. Additionally, supply chain disruptions and production shutdowns have also impacted the availability and cost of raw materials, which has affected the overall production of FRP panels and sheets.

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Competitive Analysis

Some of the Major companies operating within the market are Brianza USA Corporation , Captrad Ltd , Crane Composites, Inc. (Crane CO.) , Dofrp (Miyabi FRP) , Hill & Smith Holdings PLC , Kal-Lite , Kalwall , Krempel GmbH , Panolam Industries International, Inc. , Redwood Plastics and Rubber

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