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  • Published In : Mar 2024
  • Code : CMI6775
  • Pages :135
  • Formats :
      Excel and PDF
  • Industry : Bulk Chemicals

Market Size and Trends

Global pultrusion market is estimated to be valued at USD 4.01 Bn in 2024 and is expected to reach USD 5.18 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

Global Pultrusion Market Key Factors

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Global pultrusion market is expected to witness significant growth over the forecast period. Pultruded Fiber Reinforced Plastic (FRP) materials are lightweight, durable, non-corrosive and versatile which makes them ideal for various industries including construction, infrastructure and transportation. The growth of the construction industry especially in emerging economies and the infrastructure development projects underway globally are expected to boost demand for pultruded FRP materials. Growing emphasis on lightweight and eco-friendly materials to enhance fuel efficiency in the automotive and transportation sectors will further support the pultrusion market growth during the forecast years.

Rising Demand from Construction Industry

Global construction industry has been growing steadily over the past few years, and this growth is expected to continue. There has been a significant rise in infrastructure development activities across both developed and developing economies. Governments around the world are investing heavily in projects such as roads, bridges, commercial buildings, power transmission lines and others. Pultrusion products are widely used in building these structures and assets as these offer attributes such as durability, corrosion resistance, strength and versatility. Fiber reinforced pultruded composites are a preferred choice for applications that require structural elements to withstand all weather conditions and have long lifecycle. With the ongoing construction boom, demand for such premium quality materials from this industry has risen substantially, therefore, growing construction industry is expected to drive the market growth. For instance, according to the data published by Invest India in 2022, the construction Industry in India is expected to reach US$ 1.4 Tn by 2025.

Market Concentration and Competitive Landscape

Global Pultrusion Market Concentration By Players

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Rising Adoption in Renewable Energy Sector

With world moving rapidly towards adoption of cleaner and greener sources of energy, the renewable energy sector has become one of the primary growth engines of the global economy For instance, The International Renewable Energy Agency (IRENA) estimates that renewable power capacity additions increased by 45% year-on-year in 2021. Both solar and wind power industries have seen exponential capacity additions over the past decade due to supportive government policies and aggressive business investments. Pultruded composites are increasingly used across various applications in these industries due to their lightweight and corrosion resistance properties. In solar PV systems, pultrusions are ideal for mounting structures, racking systems and other structural components that need to withstand tough weather conditions for decades. Similarly, in wind turbines, these materials are a preferred choice for blades, nacelles and support towers. Standard fiberglass is now being replaced by advanced Pultruded FRP materials in many such applications due to their superior mechanical properties and attractive performance-cost ratio.

Global Pultrusion Market Key Takeaways From Lead Analyst

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Market Challenges: Increasing Competition from Alternate Materials

One of the key challenges that global pultrusion market faces is increasing competition from alternate materials. Fluctuations in raw material prices especially resin and fiber glass pose significant cost challenges. Changing customer demands and shorter product life cycles require constant new product development which increases costs. Further, consolidating number of players and loss of skilled labor are other problems hampering the market growth.

 Market Opportunities: Growing end-use industries

The increasing demand from various end-use industries presents a massive opportunity for growth in the pultrusion market. Pultrusion has several advantages over traditional manufacturing techniques such as continuous production, dimensional accuracy and consistency. Owing to these benefits, pultruded composites are increasingly finding applications in industries such as construction, infrastructure, electrical and electronics. The construction industry has been adopting pultruded profiles on a large scale for applications like support structures, railing systems, deckings and facades. Pultruded composites offer strength, corrosion resistance and reduced maintenance in harsh outdoor environments. They can endure extreme weather conditions very well. According to the United Nations Environment Programme (UNEP), the building sector accounted for 36% of global final energy use and nearly 40% of energy-related CO2 emissions as of 2018. Widespread use of pultruded composites in construction can significantly improve energy efficiency and reduce carbon footprint of the industry.

Global Pultrusion Market By Fiber

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Insights, By Fiber: Superior Strength and Durability Boosts Demand for Glass Fiber

In terms of fiber, glass segment is estimated to contribute 43.1% share of the market in 2024, owing to its excellent strength and durability properties. Glass fibers are highly resistant to chemical corrosion and weathering, making them very durable in outdoor applications. These retain their tensile strength even after long term exposure to sunlight, moisture, and temperature fluctuations. This durability makes glass fibers suitable for applications in construction, transportation, industrial equipment, and consumer goods where components are subjected to harsh and varying environmental conditions.  Glass fibers also offer high tensile strength combined with low weight. Their high strength to weight ratio allows for design and production of lightweight yet very strong structural elements. This is a major driver in their use in the transportation and aerospace industries where weight savings directly translate to improved performance and fuel efficiency. Glass fibers enable manufacturing of strong but lightweight components for aircraft, cars, boats, and other vehicles.

Insights, By Resin: Superior Chemical Resistance Boosts Polyester Resin Demand

In terms of resin, polyester segment is estimated to contribute the 42.2% share of the market owing to its excellent chemical resistance. Polyester resin forms a tough, chemical-proof matrix when mixed with fiberglass or other reinforcements. It cures to form a hardened plastic structure that is highly impervious to corrosion from oils, solvents, chemicals, and weathering at both ambient and slightly elevated temperatures. This chemical resistance makes polyester resin ideally suited for applications where constructed parts will be exposed to corrosive fluids, vapors, or weathering effects. Polyester resin also has good stiffness and strength compared to other resin types. This strength aids in manufacturing of rugged components used in industrial infrastructure, equipment housing, tanks, pipes, and related applications. It is a primary choice for chemical plants and oil/gas industry vessels and piping which must sustain rough handling and exposure to corrosive media.  Polyester resin offers an attractive balance of performance properties and cost. While more expensive initially than lower-grade resins, its superior durability and lifespan outweigh the higher upfront cost. It allows construction of long-lasting composite parts with reduced maintenance requirements compared to alternatives like vinyl ester or epoxy resins. For applications with a strong emphasis on chemical resistance and lifetime value, polyester resin’s combination of protection, strength and affordability is difficult to match.

Insights, By End-Use: Demand for Durable, Maintenance-Free Components Drives Industrial Segment

In terms of end-use, industrial segment is estimated contribute the 39.9% share of the market owing to demand for durable, maintenance-free components. The industrial sector encompasses a wide range of process facilities, manufacturing plants, heavy machinery, construction vehicles and infrastructure that require robust composite materials able to resist damage from heavy loads, impacts, moisture, heat/cold cycling and chemical or outdoor exposure.  Pultruded fiberglass and polymer composite profiles, gratings, and structural shapes offer excellent corrosion resistance, fatigue strength and non-conductivity suitable for industrial applications. Their consistent material properties allow structural analysis and reliable, predictable performance over long lifecycles. Unlike metals, these will not rust, erode or deteriorate with use. This translates to reduced requirements for protective coatings, surface treatment or regular maintenance. Manufacturing plants leverage pultruded composites for mezzanines, walkways, ladders, handrails and related infrastructure. Their non-conductive, non-sparking properties ensure safety in hazardous environments compared to metals. Other key industrial uses include truck bed liners, excavator components, underground pipe protection, and wind turbine blades where lightweight robustness and durability are paramount.

Regional Insights

Global Pultrusion Market Regional Insights

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North America has been the dominant regional market for pultrusion globally with estimated 45.3% share in 2024. The presence of major end-use industries such as construction, transportation and machinery manufacturing has fueled the growth of pultrusion market in the region. The U.S. accounts for the largest share of the North America pultrusion market owing to strong industrial ecosystem and technologically advanced manufacturing capabilities. Established industry players in the region focus on continuous product innovation through R&D investment to cater growing demand from diverse end-use applications. Moreover, the presence of major composite material manufacturers and machinery suppliers strengthen the value chain in the region.

Asia Pacific market has emerged as the fastest growing regional market for pultrusion in recent years. This growth can be attributed to rapid industrialization and infrastructure development activities in emerging economies of China and India. There is rise in pultrusion demand for applications in building & construction, transportation and electrical sectors. Countries like China, Japan and South Korea have presence of numerous pultrusion product manufacturers to serve growing domestic as well as export demand. Industry players in the region are focusing on setting up manufacturing units with latest machinery to cater rising demand from infrastructure projects. Moreover, supportive government policies promote growth of composite material and infrastructure industry, boosting pultrusion adoption.

Market Report Scope

Global Pultrusion Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 4.01 Bn
Historical Data for: 2019 to 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 3.7% 2031 Value Projection: US$ 5.18 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, Israel, and Rest of Middle East & Africa
Segments covered:
  • By Fiber: Glass, Aramid, Carbon, Others
  • By Resin: Polyester, Polyurethane, Epoxy, Vinyl Ester, Others
  • By End Use: Industrial, Power& Energy, Housing, Automotive, Civil Engineering, Consumer, Aerospace, Others 
Companies covered:

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.)

Growth Drivers:
  • Rising Demand from Construction Industry
  • Rising Adoption in Renewable Energy Sector 
Restraints & Challenges:
  • Increasing Competition from Alternate Materials
  • High capital investment

Key Developments

  • In 2022, NMG Composites launched a wind power pultrusion production line
  • In 2021, Hexcel partnered with METYX for high performance carbon pultrusion technology
  • In 2018, Arvind partnered with Italian firm for pultrusion tech used in 5G towers
  • *Definition: Pultrusion market involves the manufacturing process of producing materials by pulling fiber reinforced polymer composites through heated dies. In the pultrusion process, reinforcements such as fiberglass or carbon fiber are pulled through a die and impregnated with a resin. The die gives the material its cross-sectional shape and cures the material. Pultruded materials find applications across various end use industries such as transportation, energy, consumer goods and construction.

Market Segmentation

  •  Fiber Insights (Revenue, USD Bn, 2019 - 2031)
    • Glass
    • Aramid
    • Carbon
    • Others
  •  Resin Insights (Revenue, USD Bn, 2019 - 2031)
    • Polyester
    • Polyurethane
    • Epoxy
    • Vinyl Ester
    • Others
  •  End Use Insights (Revenue, USD Bn, 2019 - 2031)
    • Industrial
    • Power& Energy
    • Housing
    • Automotive
    • Civil Engineering
    • Consumer
    • Aerospace
    • Others
  • Regional Insights (Revenue, USD Bn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC Countries
      • Israel
      • Rest of Middle East & Africa
  • Key Players Insights
    • 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.)

Frequently Asked Questions

The CAGR of global pultrusion market is projected to be 3.7% from 2024 to 2031.

Rising demand from construction industry and rising adoption in renewable energy sector are the major factor driving the growth of global pultrusion market.

Increasing competition from alternate materials and high capital investment are the major factor hampering the growth of global pultrusion market.

In terms of fiber, glass segment is estimated to dominate the market in 2024.

Kimberley-Clark Corporation, 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.), are the major players.

North America is expected to lead the global pultrusion market.

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