Market Challenges: Increasing Competition from Alternate Materials

One of the key challenges that global pultrusion market faces is increasing competition from alternate materials. Fluctuations in raw material prices especially resin and fiber glass pose significant cost challenges. Changing customer demands and shorter product life cycles require constant new product development which increases costs. Further, consolidating number of players and loss of skilled labor are other problems hampering the market growth.

Market Opportunities: Growing end-use industries

The increasing demand from various end-use industries presents a massive opportunity for growth in the pultrusion market. Pultrusion has several advantages over traditional manufacturing techniques such as continuous production, dimensional accuracy and consistency. Owing to these benefits, pultruded composites are increasingly finding applications in industries such as construction, infrastructure, electrical and electronics. The construction industry has been adopting pultruded profiles on a large scale for applications like support structures, railing systems, deckings and facades. Pultruded composites offer strength, corrosion resistance and reduced maintenance in harsh outdoor environments. They can endure extreme weather conditions very well. According to the United Nations Environment Programme (UNEP), the building sector accounted for 36% of global final energy use and nearly 40% of energy-related CO2 emissions as of 2018. Widespread use of pultruded composites in construction can significantly improve energy efficiency and reduce carbon footprint of the industry.