The global FRP composites market can be divided into the following application areas (automotive, construction, electronics and defense), types (glass fiber reinforced polymers and carbon fiber reinforced polymers) and key regions (Americas, Asia Pacific, and Europe, Middle East and Africa) .
In the four major application areas, the automotive industry has the largest market share in 2017 – accounting for nearly 40% of the market. The market share of the app is expected to decline by 2022. The fastest-growing application is defense, which will account for nearly 12% of the total market by 2022.
Europe, the Middle East and Africa are key areas of the global FRP composites market in 2017, accounting for nearly 42% of the market. It is expected that by 2022, the Asia-Pacific region will have the highest market growth rate.
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