Pultrusion Products Market size by Fiber (Glass, Carbon {End-uses [Civil engineering, Wind Energy, Aerospace]), Aramid), By Resin (Polyester, Epoxy, Polyurethane, Vinyl Ester), By End-Use (Industrial, Housing, Power & Energy {Wind Energy, Solar Energy, Hy

Pultrusion Products Market size by Fiber (Glass, Carbon {End-uses [Civil engineering, Wind Energy, Aerospace]), Aramid), By Resin (Polyester, Epoxy, Polyurethane, Vinyl Ester), By End-Use (Industrial, Housing, Power & Energy {Wind Energy, Solar Energy, Hydroelectric Power}, Consumer, Civil Engineering, Automotive, Aerospace), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global pultrusion products market is poised to record commendable growth over the forecast period with a growing demand for light and sturdy pultruded components in the automotive, civil engineering and housing sectors.

The automotive sector is exploring the potential of material science by adopting advanced materials such as carbon fiber due to its lightweight characteristics.

According to estimates, around 53% of the major automotive manufacturers use these composites. For instance, the body structure of the Audi A8 incorporates steel, aluminum, magnesium alloys, and CFRP (carbon fiber reinforced polymer), which is also used for the vehicle’s largest components in the occupant cell. Adoption of lightweight materials such as these by major automotive brands is anticipated to fuel pultrusion products market growth.

The global pultrusion products market is segmented in terms of fiber, resin, end-use and region.

In terms of fiber, the other fiber segment is expected to depict a CAGR of over 2% through 2030. This growth can be credited to the high strength and enhanced sustainability offered by natural fibers such as jute or kenaf, as well as hybrid synthetic fibers.

Concerning resin, the vinyl ester segment is anticipated to exhibit more than 3% CAGR over the forecast period. This growth can be accredited to robust characteristics such as corrosion resistance and long-term durability. Vinyl pultrusion resins can increase production capacity and meet the requirements of end-user industries, further fostering segmental growth.

According to end-use, the pultrusion products market is bifurcated into housing, power and energy, industrial, civil engineering, aerospace, automotive, and consumer. The power and energy industry is further divided into the solar energy, hydroelectric power and wind energy sub-segments. Of these, the hydroelectric power segment is projected to register commendable growth over the forecast spell, owing to the rising prices of petroleum and coal.

Growing concerns regarding climate change have encouraged the deployment of hydroelectric, solar, and wind. However, the machines and tools necessary for harnessing energy are to be developed to reduce waste and last longer. Resin-based pultrusion products are non-conductive, making them ideal for manufacturing hydroelectric wheels.

Also, pultrusion products are used in civil engineering applications, as customized pultrusion dyes are easily installable whereas custom-forged steel components can be labor-intensive and expensive. Such characteristics are expected to propel market demand over the forecast period.

From a regional frame of reference, the Latin America pultrusion products market is expected to exhibit a CAGR of over 2% through 2030. This growth can be accredited to the consistent growth in regional mining activities, which has increased the demand for FRP profiles in different construction applications.