Feb 10, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the FRP Pole Market.
It was estimated prior to this unanticipated outbreak that the FRP Pole Market is likely to maintain its healthy growth pace, landing at the estimated value of US$ 228.7 million in 2026. Key driving factors are increasing acceptance of FRP poles over their arch-rivals, growing need for replacement of aged pole infrastructure, the excellent life-cycle cost of FRP poles, and their ability to withstand various weather and related impacts.
In the poles market, composites (FRP) have earned a largely unheralded but significant place on the account of their lightweight, strength, and low conductive properties. The poles made of FRP are highly resistant to corrosion, rot, UV rays, water absorption, insects, and woodpeckers. These poles do not lose strength as well as require less maintenance as compared to wood and concrete poles. They are highly recommended by experts in the wake of their electrical property and their ability to withstand heavy wind loads and impact.
The global economic growth had colossally dwindled with the rapid spread of the pandemic. Almost all the major industries are in the clasp of the pandemic, hammering hard to survive amid the breathtaking market situation. FRP pole, a matchlessly positioned in the total poles market, witnessed a slight disruption in its growth in 2020, mainly subjected to the lockdown, shortage of labor, postponement of various power projects and initiatives, and disruption in the supply chain. The minimum disruption in the demand for FRP poles amid pandemic was because of undergoing several power projects, such as transmission and distribution activities, guaranteeing a healthy demand for FRP poles.
Based on Application Type, Stratview Research has firstly segmented as transmission, distribution, telecommunication, lighting, and others. Distribution is expected to remain the biggest demand generating-application of the market during the forecast period. There has been a dominance of different applications in different regions, demanding companies to have a greater knowledge about the market before investing in any region.
Based on the process type, the market is segmented as pultrusion, filament winding, and centrifugal casting. Filament winding is estimated to maintain its dominance in the market during the forecast period. Most of the manufacturers prefer to go with the filament winding process for FRP pole fabrication in the wake of its suitability for pole manufacturing and more feasibility over alternatives. On the other hand, pultruded poles also have a sizeable market share, and their growth can be attributed to their flexibility in manufacturing different shapes through the pultrusion process.
Based on the resin type, the market is segmented as polyurethane, polyester, and others. Polyurethane is likely to maintain its dominance during the forecast period, whereas polyester is expected to grow at the highest rate during the same period. Polyester resin is gaining traction on the account of its benefits such as easy to use and cost-effectiveness. Other key resins in the market include epoxy and vinyl esters.
In terms of regions, North America is expected to remain the largest market for FRP Poles during the forecast period. The USA acts as the growth engine of the market with the highest penetration of FRP poles in the overall pole market. Among countries, Canada, Scandinavia, China, and Australia are some other key countries with lucrative market demand. Emerging economies, such as India and China, are currently having very low penetration of FRP poles; however, these poles offer good growth potential in the long run.
Key players operating in the global FRP Pole market are-
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The FRP Pole analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors