Pultrusion Market to register CAGR of 4.8% between 2015 and 2020

14-Aug-15

The Pultrusion Market in terms of value is expected to reach around US$2045.2 mln by 2020, at a CAGR of 4.8% between 2015 and 2020, as per MarketsandMarkets. Pultrusion is a process of manufacturing structural composites parts using polymer matrix and fibers. Properties of products manufactured through pultrusion are good strength, good chemical resistance, non-magnetic, low maintenance and very low thermal expansion.The pultruded parts have applications in construction industry where different pultruded parts are used in form of gratings, rebars and customized profiles. Pultruded products provide manufacturers and designers with the benefits of high strength-to-weight ratios, corrosion resistance, heat resistance, dielectric properties, and dimensional stability. FRP pultrusions are cost effective and versatile alternative to traditional materials, such as steel, aluminium and timber. FRP pultrusions weigh 75% less than steel and are non-corrosive. FRP rebar has also been applied to various aspects of chemical anti-corrosion, and it replaces carbon steel, stainless steel, wood, and non-ferrous metals. Moreover, pultruded structural components used in the cooling towers produce an engineered framework of high quality, reliability and safety Industrial applications are expected to drive the pultrusion market in next five years due to increase in demand of pultruded parts in cooling towers, offshore oil drilling projects and civil engineering. Currently, the global pultrusion market is dominated by various market players, such as Exel Composites (Finland), Strongwell Corp. (U.S.), Bedford Plastics (U.S.), Creative Pultrusion (U.S.) and Glasfroms Inc (U.S). The global pultrusion market is expected to witness substantial growth in the near future. There is a growing adoption of pultruded parts in various sectors, such as industrial, housing, construction, consumer, transportation, aerospace & defense and electrical insulation