Pultrusion Market Introduction
Pultrusion is a process of manufacturing composite material profiles having constant cross sections and physical or material properties tailored to specific end-use requirements. The word pultrusion is the portmanteau of words ‘pull’ and ‘extrusion’. The process of pultrusion involves pulling the reinforcement materials like fibers or braided strands through a heated stationary die.
Pultruded composites are being used commonly across a vast range of end-use industries, including transportation, construction, electrical, and chemical industries. Manufacturers in the pultrusion market are introducing pultruded composites with advanced properties to suit requirements of a specific end-use applications, to gain momentum in the pultrusion market.
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Pultrusion Market – Notable Developments
- Strongwell Corp., a U.S.-based player in the pultrusion market, recently entered a distribution agreement with Pipespain S.L., a Spanish company, for distribution of the company’s pultruded fiberglass grating products including DURADEK®, DURAGRID®, SAFRAIL™ Fiberglass Handrail Systems, and EXTREN® fiberglass structural shapes and plate. With this agreement, the company is aiming to establish a strong presence in Spain and Portugal to capitalize on offshore, marine, oil and gas, and chemical markets across these countries.
- PolyOne Corporation, a leading plastic material and resin manufacturing company, announced that it will acquire PlastiComp, LLC, a leading manufacturer of long fiber reinforced thermoplastic composites. PlastiComp recently started its second pultrusion line for manufacturing long-carbon-fiber-reinforced composites, and the PolyOne is aiming to expand its advanced composites portfolio with this investment.
- Exel Composites – another leading player in the pultrusion market – announced in July 2018 that it has partnered with Ziebel – a Norwegian distributor of fiber optics – to develop a fiber optic-embedded carbon composite rod with the help of the expertise of Diversified Structural Composites (DSC) in pultrusion technology. Exel Composites acquired DSC in April 2018 to leverage DSC’s expertise in pultrusion technologies to complement its existing growth strategies.
Some of the most prominent competitors operating in the competitive landscape of global pultrusion market include –
- Strongwell Corporation
- Werner Company
- Exel Composites
- Teel Plastics
- Glasforms Inc.
- Bedford Reinforced Plastics
- Fiber-Line Inc.
- Jiangsu Jiuding New Material Co.
- Tecton Engineering and Construction LLC
- Faigle Kunstsoffe GmbH
- Creative Pultrusion
- Diversified Structural Composites
- JAMCO Corporation
Pultrusion Market Dynamics
Growing Demand for Lightweight and Durable Materials to Withstand Harsh Environment Triggers Pultrusion Market Growth
Most industry players across the manufacturing sector are spurning heavy weight metal components to improve the performance characteristics of end products. Manufacturers are willing to experiment with innovative materials to explore possibilities to improve material properties of the product, and thereby, plastics and pultruded composites have been gaining popularity among them since past few years.
Leading players in the pultrusion market are introducing pultruded composites with excellent physical properties, such as heat resistance, corrosion resistance, flexibility, dielectric properties, and high strength-to-weight ratios to suit changing requirements of end-users. Thereby, the demand for flexible plastic materials with excellent performance characteristics that can withstand extreme environments is increasing, triggering growth of the pultrusion market.
High Initial Costs vis-à-vis the Pultrusion Process Create Barriers to Entry for Small Businesses in the Pultrusion Market
Though the pultrusion market is witnessing rapid growth with a widening range of its end-user industries, the need for high initial investments is creating challenges for pultrusion market players to offer competitive prices. The production costs and initial investments associated with pultruded composites are higher than its competitive materials, and this is one of the main challenges faced by players in the pultrusion market. Fabrication costs and material handling guides are the primary expenses of manufacturers in the pultrusion market and thereby, initial investments remain high in the pultrusion market. This creates major barriers to entry for new entrants in the pultrusion market.
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Pultrusion Market Players Eye Lucrative Opportunities in the Automotive Industry
The automotive industry is undergoing transformations in terms of the types of materials used in various automotive parts. The lightweighting trend is spreading rapidly across the automotive industry, creating numerous lucrative opportunities for players in the pultrusion market. Pultrusion is one of the most cost-effective method of manufacturing composite parts used as important automotive components.
Leading players in the pultrusion market are offering tailored pultrusions suitable for automotive applications, including chassis rails, roof beams, door intrusion beams, and front-end support systems. With the leading manufacturers in the pultrusion market launching innovative pultruded resins for manufacturing various automotive parts, which can ultimately replace metal components, pultrusion market is expected to witness positive growth in the upcoming years.
Pultrusion Market Segmentation
Based on the types of fibers, the pultrusion market is segmented into
- Carbon Fiber Composites
- Glass Fiber Composites
Based on the attribute types, the pultrusion market is segmented into
Based on the types of resins, the pultrusion market is segmented into
- Epoxy Composites
- Polyester Composites
- Phenolic Composites
- Vinlyester Composites
Based on its applications, the pultrusion market is segmented into
- Electric Insulators
- Window Profiles
- Ladder Rails
- Sound Barriers
- Cable Trays
- Road Markers
- Sporting Goods
- Utility Poles
- Structural Shapes
- Tool Handles
Based on the end-use industries, the pultrusion market is segmented into
- Consumer Goods
- Building and Construction
- Cooling Tower
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