Global pultrusion market
Global Pultrusion Market, 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), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
- Mar 2024
- CMI6775
- 135 Pages
- Excel & Pdf
- 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.
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
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.
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.
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
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: |
|
||
Segments covered: |
|
||
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: |
|
||
Restraints & Challenges: |
|
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
- North America
- 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.)
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Fiber
- Market Snippet, By Resin
- Market Snippet, By End Use
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER’s Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
- Market Dynamics
- Global Pultrusion Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting Global Pultrusion Market
- Impact Analysis
- Global Pultrusion Market, By Fiber, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Glass
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Aramid
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Carbon
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Introduction
- Global Pultrusion Market, By Resin, 2019-2031, (US$ Bn)
- Polyester
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Polyurethane
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Epoxy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Vinyl Ester
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Polyester
- Global Pultrusion Market, By End-Use, 2019-2031, (US$ Bn)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Power& Energy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Housing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Civil Engineering
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Consumer
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Aerospace
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Industrial
- Global Pultrusion Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019- 2031
- North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Fiber, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Resin, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End Use, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- U.S.
- Canada
- Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Fiber, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Resin, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End Use, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Product, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Resin, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End Use, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Product, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Resin, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End Use, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Market Share Analysis, By Region/Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Region/Country, 2019 - 2031
- Market Size and Forecast, By Product, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Resin, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End Use, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East & Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Avient
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Exel Composites
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Bedford reinforced plastics
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Faigle Kunstsoffe GmbH
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Strongwell Corporation
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Creative Pultrusions
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Jiangsu Jiuding New Material Co. Ltd.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Werner Ladder
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Masco
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Pultrex
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Haysite reinforced plastics
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Liberty Pultrusions
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Toray Industries Inc
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Pultron Composites Limited
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Tencom Ltd.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Fibergrate Composite Structures Inc
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Fiberline Composites A/S
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Jamco
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Arvind Composites (Arvind Ltd.)
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Avient
- Analyst Recommendation
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
- Section
- References
- Research Methodology
- About Us and Sales Contact
* Browse 50 market data tables* and 40 figures* on “Global Pultrusion Market” - forecast to 2031.
Detailed Segmentation
- Fiber:
- Glass
- Aramid
- Carbon
- Others
- Resin:
- Polyester
- Polyurethane
- Epoxy
- Vinyl Ester
- Others
- End Use:
- Industrial
- Power& Energy
- Housing
- Automotive
- Civil Engineering
- Consumer
- Aerospace
- Others
- Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa