Molded FRP Components Market
The market for Molded FRP Components was estimated at $440 million in 2024; it is anticipated to increase to $638 million by 2030, with projections indicating growth to around $870 million by 2035.
Global Molded FRP Components Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2025 - 2034
The Molded FRP Components industry revenue is expected to be around $468.1 million in 2025 and expected to showcase growth with 6.4% CAGR between 2025 and 2034. The significant increase in the market for Molded FRP Components demonstrates its growing importance across industries. The expansion of this market is mainly fueled by the benefits of these components like their excellent strength to weight ratio and resistance to corrosion and durability. These components are favored for their capacity to endure environmental conditions in a variety of applications. They continue to be highly relevant in the market due, to these factors. The increasing focus on using lightweight and energy efficient materials in sectors such as automotive and aerospace well as construction is set to drive the market forward due to the escalating need, for robust yet economical components.
FRPs molded components are a of material that consists of a polymer matrix reinforced with fibers known for their strength and lightweight properties as well as their resistance to heat and various elements like chemicals and electricity. These components find use in various industries such as automotive manufacturing for parts production; aerospace engineering for component fabrication; construction sector for building materials; and industrial machinery development. Recent market trends signal an increasing inclination towards using molded FRPs in energy applications like wind turbines due to their robustness and longevity, in harsh environmental conditions.
Market Key Insights
- The Molded FRP Components market is projected to grow from $439.9 million in 2024 to $818 million in 2034. This represents a CAGR of 6.4%, reflecting rising demand across Automotive, Aerospace and Construction Industry.
- Ashland LLC, Creative Pultrusions Inc., Enduro Composites Inc. are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Molded FRP Components market and are expected to observe the growth CAGR of 4.2% to 6.1% between 2024 and 2030.
- Emerging markets including Vietnam, Nigeria and Colombia are expected to observe highest growth with CAGR ranging between 7.4% to 8.8%.
- Transition like Adoption of Lightweight Materials has greater influence in U.S. and China market's value chain; and is expected to add $16 million of additional value to Molded Frp Components industry revenue by 2030.
- The Molded FRP Components market is set to add $378 million between 2024 and 2034, with manufacturer targeting Construction & Electrical & Electronics End-Users projected to gain a larger market share.
- With
rising demand in construction industry, and
technological advancements in manufacturing processes, Molded FRP Components market to expand 86% between 2024 and 2034.
