Global Pultrusion Market Report and Forecast 2024-2032

Global Pultrusion Market Outlook

The global pultrusion market stood at a value of around USD 2.21 billion in 2023. The market is further expected to grow at a CAGR of 5.10% in the forecast period of 2024-2032 to attain a value of around USD 3.45 billion by 2032.

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The Glass Fibre Segment Holds a Significant Share in the Global Pultrusion Industry

The glass fibre segment, based on fibre type, accounts for a significant share in the market owing to the cost-effectiveness, corrosion resistance, great strength-to-weight ratio, and high heat distortion temperature of the product. The high structural strength, coupled with the ability of the material to get moulded to precise tolerances, makes it ideal for the building and construction industry. Over the forecast period, the growing demand for glass fibre as a reinforcing material, such as E-glass and S-glass, is likely to propel the segment’s growth.

The Asia Pacific Accounts for a Significant Share in the Market

The pultrusion industry in the Asia Pacific is driven by the expansion of the end use industries in countries like India and China, rising number of local manufacturers, rapid industrialisation and urbanisation, and rising investments towards infrastructure development across the region. Further, the advancements in the automotive sector in countries like South Korea and Japan are likely to generate a significant demand for pultrusion in the region in the forecast period.

Pultrusion: Market Segmentation

Pultrusion is defined as a manufacturing process in which the reinforced fibres and liquid resins are converted into fibre-reinforced plastic. Pultrusion is a process which involves the development of parts using constant-cross section.

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Based on fibre type, the market can be segmented into:

• Glass Fibre
• Carbon Fibre
• Others

The major resin types considered in the market report include:

• Polyester
• Polyurethane
• Vinyl Ester
• Others

The segmentation of the market, on the basis of application, includes:

• Industrial
• Construction
• Electrical
• Automotive

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Application of Pultrusion in the Building and Construction Sector to Boost the Growth of the Pultrusion Industry

The global pultrusion industry is driven by the rising application of pultrusion in the building and construction sector, owing to the rapid infrastructure development in emerging economies. This can be attributed to the rising demand for fiberglass in the development of industrial and residential structures owing to the scalability and flexibility offered by the material. Further, the market is anticipated to be driven by the growing utilisation of pultrusion in advanced reinforced polymer (FRP) composites for structural application. This is mainly due to the fact that pultrusion offers best productivity/cost ratio. Over the forecast period, the increasing inclination towards polymer pultruded products as an alternative to steel and aluminium in the construction and industrial sector is likely to provide impetus to the market.

Key Industry Players in the Global Pultrusion Market

The report gives a detailed analysis of the following key players in the global pultrusion market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Strongwell Corporation
• Jiangsu Jiuding New Material Co Ltd
• Creative Pultrusions Inc.
• Fibrolux GmbH
• JAMCO Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report