Fiber Reinforced Polymer Bridge Market - Forecast(2023 - 2028)

Fiber Reinforced Polymer Bridge Market Overview

The Fiber Reinforced Polymer Bridge Market size is estimated to reach US$90.2 million by 2027 after growing at a CAGR of 5.4% during the forecast period 2022-2027. Fiber Reinforced Polymer or Fiber Reinforced Polymer Bridge is a bridge made from composite materials which are a mixture of polymers such as polyester & vinyl ester and fibers namely carbon fiber and glass fiber. The rich properties of Fiber Reinforced Polymers such as good fatigue, low weight, high tensile & bending strength and good compression properties are driving their demand in advanced engineerings such as bridges and architectural structures. Furthermore, the high strength-to-weight ratio and better corrosion resistance provided by fiber-reinforced polymers in comparison with steel, are influencing the market growth of the Fiber Reinforced Polymer Bridge industry. Factors such as government initiatives for bridge renovation and fuelling investments in bridge construction have provided growth opportunities to the Fiber Reinforced Polymer Bridge industry. However, the expensive nature of fiber-reinforced polymers compared to other materials such as wood and unpainted low-carbon steel can negatively influence the growth of the Fiber Reinforced Polymer Bridge industry. The COVID-19 pandemic negatively impacted the Fiber Reinforced Polymer Bridge industry outlook, due to lockdown restrictions the gap in the completion of bridge construction projects and also there were budget cuts in infrastructure construction to increase healthcare spending.

Report Coverage

The “Fiber Reinforced Polymer Bridge Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Fiber Reinforced Polymer Bridge  Industry.

Key Takeaways

• North America dominates the Fiber Reinforced Polymer Bridge industry owning to fuelling construction activities of new bridges which is significantly influencing the market growth in the region.
• Superior properties of fiber-reinforced polymers such as high strength-to-weight ratio and high corrosion resistance against de-icing salt are significantly influencing the Fiber Reinforced Polymer Bridge industry outlook.
• However, the expensive nature of fiber-reinforced polymers coupled with the lack of their performance history is creating a challenge in the growth of the Fiber Reinforced Polymer Bridge industry, thereby affecting the Fiber Reinforced Polymer Bridge Market size.

Figure: North-America Fiber Reinforced Polymer Bridge Market Revenue, 2021-2027 (US$ Million)

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Fiber Reinforced Polymer Bridge Market Segment Analysis – by Fiber

Glass fiber held the largest share in the Fiber Reinforced Polymer Bridge Market in 2021 and is forecasted to grow at a CAGR of 5.6% during the forecast period. Glass Fiber Reinforced Polymers in comparison with steel, offer certain benefits such as life-cycle cost benefits and the ability to withstand harsh climatic environment where steel is prone to corrosion. The bridge deck made from glass fiber in comparison with the deck made from concrete and steel is lightweight, has high durability and can undergo upgrade without changing the sub-structure. Furthermore, the easy availability and cost-effectiveness of glass fibre is another factor contributing to its high demand and preferability over other fibers such as carbon fiber and aramid. Thus, the advantageous features provided by glass fiber are significantly influencing its demand in bridge construction, thereby contributing to its segment growth in the coming years.

Fiber Reinforced Polymer Bridge Market Segment Analysis – by Bridge Type

The vehicular bridge held the largest share in the Fiber Reinforced Polymer Bridge Market in 2021 and is forecasted to grow at a CAGR of 5.8% during the forecast period 2022-2027. A vehicular bridge in comparison with a pedestrian bridge accommodates more loading weight, due to which it requires a strong foundation and durable construction. Fibre-reinforced polymers which are made by reinforcing polymers such as polyester or vinyl ester can meet such requirements. Due to its rich mechanical & chemical properties such as high tensile strength & corrosion resistance, fiber-reinforced polymers have high applicability in vehicular bridges, where it is used in decks, girders, beams and others. Furthermore, factors such as an increase in traffic density on account of the growing number of vehicles on road are creating demand for the construction of more vehicular bridges, which is further driving the demand for fiber-reinforced polymers in the vehicular bridge segment.

Fiber Reinforced Polymer Bridge Market Segment Analysis – by Geography

North America held the largest share in the Fiber Reinforced Polymer Bridge Market in 2021 up to 39%. Demand for fiber-reinforced polymers for bridge construction in the North American region is significantly growing, owing to its flourishing application in deck and girders manufacturing. The number of bridges in major economies namely the US and Canada has shown a rapid increase on account of the undertaking of bridge construction projects and the development of transportation infrastructure. According to the United States Bureau of Transportation Statistics, in 2020, the total number of bridges in the US stood at 6,18,456 in comparison to 6,16,096 in 2018. Furthermore, the Transportation Investment Corporation of British Columbia, in June 2021, undertook the Pattullo Bridge replacement project on the Fraser river which had an estimated investment of US$1.12 billion. The growing number of bridges has boosted the demand for fiber-reinforced polymers for deck and girder applications, which has resulted in the positive market growth of the Fiber Reinforced Polymer Bridge Market in the North American region.

Fiber Reinforced Polymer Bridge Market Drivers

Government Initiatives for Bridge Renovation:

Bridges made of steel though have high strength but are susceptible to corrosion which reduces the mechanical performance and structural integrity of the bridge, due to which they require proper maintenance and renovation. Various schemes and acts have been implemented by governments for improving the condition of bridges. For instance, the US Department of Transportation, in January 2022, launched the Bridge Replacement, Rehabilitation, Preservation, Protection and Construction Program which included investments worth US$26.5 billion for the replacement and repairing of bridges all across the US. Furthermore, the German Government’s road firm Autobahn, 2021, issued a budget of US$626 million to improve the country’s bridges that fall under the Autobahn network. Fiber-reinforced polymers such as polyester and vinyl ester have high flexural strength and low wear & tear impact, can fully replace the traditional steel and be majorly used during repair work. With growing bridge renovation, the demand for high performance materials such as fiber-reinforced polymers to replace will also increase, resulting in a positive market during the forecast period.

Fuelling investments in Bridge Construction:

Bridges besides playing an integral role in connecting places and easing vehicle traffic are also considered one of the recognizing symbols of the nation’s infrastructure. The rapid growth in transportation infrastructure spending has boosted the construction activities of bridges. For instance, the Government of India, in April 2022, announced the construction of 64 strategic roads and 103 bridges in Indo-China, Indo-Pakistan and Indo-Myanmar areas with total evaluation of US$393.6 million. Furthermore, UK’s Department for Transport, in June 2020, announced US$197.78 million worth of investments for four major construction of bridges in England. Such an increase in investments in bridge construction has accelerated the demand for fiber-reinforced polymers for deck, girder and tower columns applications, thereby significantly influencing the growth of the Fiber Reinforced Polymer Bridge industry.

Fiber Reinforced Polymer Bridge Market Challenge

High Cost Associated with Fibre Reinforced Polymers:

Fiber-reinforced polymers in comparison with materials such as low carbon steel have a higher cost as the polymers demand the use of expensive carbon fiber and various types of saw blades and drills for cutting purposes. Manufacturing carbon fibre is a highly specialization process and the raw materials such as machineries required for manufacturing of such fibre are highly advanced and cost thousands of dollars. Usage of expensive machineries increases the manufacturing cost of carbon fiber which increases the overall cost of making fiber-reinforced polymers since carbon fibre forms an important ingredient. The expensive nature of fiber-reinforced polymers in comparison to low-carbon steel can negatively impact their demand in bridge construction activities, thereby reducing Fiber Reinforced Polymer Bridge Market size during the forecast period.

Fiber Reinforced Polymer Bridge  Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fiber Reinforced Polymer Bridge Market. The top 10 companies in the Fiber Reinforced Polymer Bridge Market are:

1. B&B FRP Manufacturing Inc.
2. Bedford Reinforced Plastics
3. Composite Advantage LLC
4. Creative Pultrusions Inc.
5. CTS Bridges Ltd.
6. FiberCore Europe
7. Fiberline Composites A/S
8. Guardian Bridge Rapid Construction II Inc.
9. Lifespan Structures Ltd.
10. Strongwell Corporation

Recent Developments

• In April 2021, Bedford Reinforced Plastics a leading producer and supplier of fiber-glass reinforced plastics introduced ReadySpan, which is a pre-engineered, ready-to- install, modular pedestrian bridging system.
• In February 2021, Advanced Infrastructure Technologies which is a provider of innovative fibre reinforced polymer composite solutions introduced the AIT Manufacturing division which will provide Fiber Reinforced Polymer composite solutions for infrastructures such as bridges.
• In February 2021, Creative Pultrusions Inc. formed Creative Composites Group which would provide enhanced Fiber Reinforced Polymer solution offerings for infrastructure applications such as bridge decking.

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