Scale: The global FRP market will exceed US$150 billion in 2025, with China’s share rising to 38%. The market size of China's FRP industry is expected to be 120 billion yuan in 2025, and is expected to reach 180 billion yuan by 2030.
Trend: The industry is showing a steady growth trend. Although the construction field currently accounts for the largest share, its share has declined slightly. Demand in the transportation and energy fields has grown significantly, and the energy field has the strongest growth momentum.
Application areas
Construction field: It can be used for exterior walls, pipes, storage tanks, municipal pipe corridors, curtain wall decoration, etc., such as the application of self-healing fiberglass in Winter Olympics venues.
Transportation field: used in automobile manufacturing for front and rear bumpers, grilles and other exterior parts, which can reduce vehicle weight and improve fuel efficiency; used in trucks for roof shrouds, side skirts, etc., with good weather resistance; and also used for rail transit vehicle components, etc.
Energy field: The penetration rate of FRP in large offshore wind power blades has reached 92%. The proportion of FRP replacing steel structures in the field of photovoltaic tracking brackets continues to increase. Hydrogen energy storage tanks are also an emerging growth direction.
Other fields: It is also widely used in bathroom products such as bathtubs, washbasins, etc., as well as kitchen and industrial sinks, chemical equipment, environmental protection equipment, etc.
competitive landscape
International companies: Well-known international companies such as Owens Corning and Hexcel dominate the global market, with a combined market share of more than 50%. Owens Corning of the United States has technological advantages in the field of high-performance composite materials, while Mitsubishi Resins of Japan and BASF of Germany have strong competitiveness in high-end applications.
Domestic companies: China Baowu Steel Group has a market share of approximately 18% in 2024, ranking first in the world. Domestic companies such as Zhongfu Shenying and Sinoma Technology have gradually increased their market share and are expected to form a competitive landscape with international giants.
technological development
Material upgrades: Nano-modified materials improve the impact resistance of products, polyurethane pultrusion main beam technology reduces the cost of wind turbine blades, and functional materials such as self-healing types continue to emerge.
Process improvement: Combining digital mold design and automated molding systems to improve production efficiency and meet customized needs.
Raw material supply and price
Supply: Unsaturated polyester resin (UPR) is an important raw material. In 2024, China's UPR market size has reached 4.8 million tons, with an annual output value exceeding 68 billion yuan, 65% of which is used in the field of fiberglass reinforced plastic products, and the production capacity concentration in East China reaches 58%.
Price: The price of raw materials is affected by market supply and demand, oil prices and other factors, and may fluctuate, which in turn affects the cost of FRP plates.
Impact of policies and regulations
Environmental protection policy: Environmental protection regulations are becoming stricter. FRP materials are more popular in green buildings and other fields due to their environmental advantages such as recyclability.
Dual carbon goals: Promote the development of new energy fields such as wind power and photovoltaics, increasing the demand for FRP in wind power blades, photovoltaic brackets, etc.
Your message must be between 20-3,000 characters!
