Growth Opportunities in the Pultrusion Market 2016-2021: Global Market Outlook
According to a new market report published by Lucintel, the future of the pultrusion industry looks goodwith growing opportunities in the transportation, infrastructure, consumer goods, and constructionindustries. The global pultrusion market is forecast to grow at a CAGR of 4.6% from 2016 to 2021. Themajor growth drivers for this market are the rise in demand for lightweight materials and increasingdemand for durable products for corrosive environments, such as in rebar and gratings applications.
Increasing energy efficiency requirements from consumers and greater focus on total lifecycle cost ofend products are further driving the market.
On the basis of comprehensive research, Lucintel forecasts that the demand for window profile willexperience the highest growth in the forecast period, supported by increasing energy efficiencyrequirements from consumers and a higher degree of insulation than aluminum. These qualities saveenergy and add comfort and value in applications where temperature differentials are high.During forecast period, the window profile is expected to emerge as the largest market by value and thesecond-largest market by volume consumption after ladder rail.
North America is expected to remain the largest market due to growth in end use applications and awider acceptance of pultruded parts. Asia Pacific and Rest of the World are expected to witnesssignificant growth over the forecast period because of the growing awareness of pultruded products.For market expansion, the report suggests innovation and new product development, where the uniquecharacteristics of pultrusion technology can be capitalized. The report further suggests the developmentof partnerships with customers to create win-win situations and development of low-cost solutions forend users.
Strongwell, Exel Composites, Creative Pultrusion, Bedford, Werner Ladder, Masco, and Pultron areamong the major suppliers of the pultrusion market. Some companies are opting for M&A as a strategicinitiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the globalpultrusion market by application, material type, and region and has come up with a comprehensiveresearch report, “Global Pultrusion Market 2015-2020: Global Market Outlook.” The Lucintel reportserves as a springboard for growth strategy, as it provides a comprehensive data and analysis ontrends, key drivers, and directions. The study includes a forecast for the global pultrusion marketthrough 2020, segmented by end use industry, material, and region as follows:
By application [million pounds and $ million shipment analysis from 2009 to 2020]: