Agreements, Partnerships, and Expansions are the Key Developmental Strategies Adopted by Leading Players in the FRP Bridge Market
The report concentrates on the utilization of various FRP materials used in the manufacturing of bridges. The FRP bridge market is expected to reach USD 72.5 Million by 2021, at a CAGR of 6.40% from 2016 to 2021. The FRP materials when used in the manufacturing of structural parts of bridges offer several useful properties, such as high corrosion resistance, stiffness, and high strength. These properties are expected to foster the growth of the FRP bridge market globally.
Growth strategies adopted by key players in the FRP bridge market include agreements/partnerships, expansions, and new product launches. Agreements/partnerships and expansions were the most widely adopted strategies between 2011 and 2016, having accounted for a share of 55.2% and 34.5% respectively of all the strategies adopted during the period. These strategies have helped major players to increase their production capabilities and market shares and to cater to the increasing demand for FRP bridges in the emerging markets.
The major players in the FRP bridge market include FiberCore Europe (Netherlands), Fiberline Composites A/S (Denmark), Strongwell Corporation (U.S.), Creative Pultrusions, Inc. (U.S.), and Bedford Reinforced Plastics (U.S.), among others. These players adopted various organic and inorganic growth strategies to increase their market share and global presence in the FRP bridge market.
Creative Pultrusions and Strongwell are the prominent players in the FRP bridge market. These players accounted for the maximum share of the overall growth strategies adopted between 2011 and 2016. Creative Pultrusions is predominantly engaged in the manufacturing of fiber reinforced polymer (FRP) products, which include beams and planks, among others, for application in FRP bridges. These products have helped the company to cater to the increasing demand for FRP materials from the FRP bridge market. The company also acquired a prominent bridge manufacturer named E.T. Techtonics (U.S.) in early 2016 to fortify its FRP bridge installation business.
Strongwell, another prominent player in the FRP bridge market, is amongst the largest pultruders of FRP structural components. The company is a major player specializing in the manufacturing and marketing of pultruded fiberglass structures and shapes for the FRP bridge market. The company majorly focuses on the expansion strategy to fortify its FRP bridge business. For instance, in October 2014, the company expanded its FRP bridge business by opening a new bridge between Oakland (U.S.) and San Francisco (U.S.). The bridge constituted FRP panels that provided the bridge with lightweight and low maintenance properties. This development strategy has helped the company increase its market share in the North American FRP bridge market.
Related Reports:
FRP Bridge Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin (Vinylester, Polyester), Manufacturing Process (Pultrusion, Hand Lay-Up), Application (Deck, Girders, Rebars), Bridge Type (Vehicular, Pedestrian), Region - Global Forecast to 2021
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