Global Glass Fibers Reinforced Plastics (GFRP) composite Market size revenue to reach $xx million by 2027, growing with a CAGR of xx% during the forecast period of 2020 to 2027.
The glass fibre reinforced plastics market is widely used in transportation, marine, aerospace, construction, wind energy, pipeline, tank, and electronic sectors. Features of the product such as lightweight materials, aversion to corrosion, chemical resistance, electrical resistance and high flame counteraction make the use of glass fibre reinforced plastics in varied industries.
Within the glass fibre reinforced plastic market, injection moulding, compression, spraying, filament winding, resin infusion, are the key processes utilized to manufacture composite parts. Growth in construction, transportation, and electrical industries coupled with the better economic environment, increasing population and rapid urbanization has resulted in flourishing growth of the GFRP market. Government regulations, for example, CAFE Standards in the US and carbon emission targets brings about waves of demand to the product market.
The product-based composites have a great strength-to-weight ratio, which is a vital factor in automobile manufacturing. Automobiles with low weight and higher strength give better mileage and cut back fuel cost. In the US, automobile manufacturers are making a shift towards GFRP composites as a substitute for aluminium and steel. In the transportation sector, usage of glass fibre reinforced plastics can be seen in a wide range of products such as doors, roof panels, windows, headrest back panels, seats, luggage bins, and cooling ventilators.
On the flip side, high cost of GFRP composites as compared to metals and alloys coupled with high research and development costs pose as a major threat. Further, the difficulty in recycling GFRP composites restricts the growth especially in the construction and automobile sector, where the pressure to recycle is high. The true potential of application GFRP composites has not been discovered because of longer cycle times. The applications of the product that have been realized commercialization of these has not started owing to high costs entailed. Nevertheless, the rising automated manufacturing process required to produces complex and customized parts in automotive, aerospace, and wind energy are expected to provide ample opportunities for a flouring growth of the product market.
Glass Fibers Reinforced Plastics (GFRP) composite Market Segmentation Analysis
Glass Fibers Reinforced Plastics (GFRP) Composite Industry can be segmented by Type (Polyesters, Vinyl Ester, and Polyurethane), Process (Manual, Continuous, Compression Molding, and Injection Molding) and Application (Wind Energy, Automobile, Marine, Pipe &Tanks, Aerospace, Construction, and Electricals & Electronics)
Glass fibers reinforced plastics composites has been increasing in demand from electrical& electronics, transportation, wind energy, and pipes & tanks industries. This has been the major growth driver in the market, which is bound to see the industry value at $59.87 billion by 2022. North America and Europe dominates the market currently. Asia-Pacific is the fastest growing market in the glass fibers reinforced plastics and is expected to show the same trend in the coming years. There is an increasing demand in emerging markets such as Latin America and MEA as well. Some of the key players include Owen Corning, AGY Holdings, Jushi Group, Nippon Sheet Glass and Taishan Fiberglass.
Glass Fibers Reinforced Plastics (GFRP) composite Market Competition
Key companies operating in this industry are
Johns Manville, BGF Industries, Asahi Glass Company Limited, Advanced Glass fiber Yarns LLC, Jushi Group Co. Ltd., Owens Corning, Taishan Fiberglass Inc., Chomarat Group, PPG Industries Inc., Chongqing Polycomp International Corp., Saertex Group, Binani 3B-The Fiber Glass Company, Nippon Sheet Glass Co. Ltd., Nitto Boseki Co. Ltd. and Saint-Gobain Vetrotex
Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Market Segmentation: The market has been segmented by type, application and region.
Type Analysis (Revenue, USD Million, 2020 - 2027)
• General-Purpose Glass Fibers
• Special-Purpose Glass Fibers by
• Vinyl Ester
Process Analysis (Revenue, USD Million, 2020 - 2027)
• Compression Molding
• Injection Molding
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Wind Energy
• Pipe &Tanks
• Building & Construction
Country Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Glass Fibers Reinforced Plastics (GFRP) composite Market Companies
• Johns Manville
• BGF Industries
• Asahi Glass Company Limited
• Advanced Glassfiber Yarns LLC
• Jushi Group Co. Ltd.
• Owens Corning
• Taishan Fiberglass Inc.
• Chomarat Group
• PPG Industries Inc.
• Chongqing Polycomp International Corp.
• Saertex Group
• Binani 3B-The Fiberglass Company
• Nippon Sheet Glass Co. Ltd., Nitto Boseki Co. Ltd.
United States Glass Fibers Reinforced Plastics (GFRP) composite Industry Research Report
Europe Glass Fibers Reinforced Plastics (GFRP) composite Industry Research Report
Asia Pacific Glass Fibers Reinforced Plastics (GFRP) composite Industry Research Report
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