The Pultruded Panels Market is expected to reach US$ 0.5 billion during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Pultruded Panels Market
Pultrusion requires no additional recognition for its contribution to the composites industry. The technology has earned a remarkable position over a period of time, especially in building & construction. A multitude of applications including rebars, structural profiles, windows, gratings, ladder rails, panels, and handrails, are increasingly fabricated through this process. There will be a double-digit decline in the demand for pultruded panels in the year 2020, followed by a hefty recovery in 2021 and a sequential growth pattern in the coming years. As a result, the pultruded panels market is expected to reach US$ 0.5 billion in 2025.
North America is expected to remain the largest market for pultruded panels during the forecast period, mainly driven by the USA. Despite registering massive business loss in the region, the region is anticipated to maintain its lead in the global market in the coming five years, propelled by the huge demand for composites coupled with a robust supply chain.
After absorbing the COVID shockwave, Asia-Pacific, another major pultruded panels market, is anticipated to bounce back fast, imprinting an overall healthy recovery in the coming years. Increasing penetration of composite materials with pultrusion as one of the major manufacturing processes will further augment the demand for pultruded panels in the region. China, India, Australia, and Japan to be the growth engines of the region’s market during the forecast period.
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Market Scope & Market Segmentation
By End-Use Industries: Building & construction is the largest application
Among a gamut of end-use industries, building & construction, transportation, and aerospace & defense are the major ones, leveraging the benefits of pultruded panels. However, Building & Construction is expected to remain the largest market for pultruded panels in the coming five years. The demand for pultruded panels in building & construction is worryingly being affected by the pandemic. However, a quick recovery is anticipated in the coming years, filling the voids generated due to the pandemic. Transportation and aerospace & defense are anticipated to mark a huge decline in their pultruded panels’ demand in 2020 while anticipating a healthy recovery recouping their 2019-market size by 2025.
By Resin Type: Polyester resin dominates driven by lower cost and good properties
The selection of a resin system varies from application to application. Polyester, vinyl ester, and epoxy are the most common resin systems used widely in pultruded panels. Among all the resin systems, polyester composite is anticipated to maintain its lead in the market in the foreseen future. The resin system is also dominant in the entire pultruded composites market, driven by several factors including its lower cost and good properties.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.