Global Glass Fiber Reinforced Plastics Composites Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

According to Data Bridge Market Research new Market report, Global Glass Fiber Reinforced Plastics Composites Market will account to an estimated USD 46.75 billion in 2018 growing at a CAGR of 6.25% during the forecast period of 2019 to 2026.

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Global Glass Fiber Reinforced Plastics Composites Market

Global Glass Fiber Reinforced Plastics Composites Market:

Glass fiber reinforced plastics composites are a type of enhanced material that has been processed through a number of different manufacturing methods and is widely utilized due to its characteristics such as enhanced weight-to-strength ratio, durability, resistance to a number of chemicals. These composites involve the usage of fiberglass in the production and are majorly used in the automotive, construction and aerospace industries.

Segmentation: Global Glass Fiber Reinforced Plastics Composites Market

Global glass fiber reinforced plastics composites market is segmented on the basis of resin type, manufacturing process, end-use industry and geography.

By Resin Type (Thermoplastic, Epoxy, Polyester, Vinyl Ester, Polyurethane, Others), Manufacturing Process (Filament Winding, Compression & Injection Molding Process, Pultrusion, RTM, Layup, Others), End-Use Industry (Transportation, Construction & Infrastructure, Wind Energy, Pipes & Tanks, Electrical & Electronics, Aerospace & Defense, Marine, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN GLASS FIBER REINFORCED PLASTICS COMPOSITES MARKET

Expansion and acquisition strategies adopted by major manufacturers

  • In October 2018, Celanese Corporation announced that they had agreed to acquire Next Polymers Ltd. with their expertise and capabilities focused on the production of engineering thermoplastic compounders. This acquisition is expected to help Celanese establish their dominance in the region of India and also help in expanding the production capabilities in the region.
  • In July 2017, Owens Corning announced that they had completed the acquisition of Aslan FRP a division of Hughes Brothers Inc. with expertise in production of glass and carbon fiber reinforced polymer products. With the completion of this acquisition product portfolio and capabilities of Owens Corning is expanded significantly.

Key Market Competitors: Global Glass Fiber Reinforced Plastics Composites Market

Few of the major competitors currently working in the glass fiber reinforced plastics composites market are PPG Industries Inc., Owens Corning, Johns Manville, Yuntianhua Group Co. Ltd., Jushi Group, Saint-Gobain, ASAHI FIBER GLASS Co. Ltd., Nippon Sheet Glass Co. Ltd, AGY, CTG Group, Nitto Boseki Co. Ltd., Braj Binani Group, China Beihai Fiberglass Co. Ltd., BGF Industries Inc., SAERTEX GmbH & Co. KG, Jiangsu Jiuding New Materials Co. Ltd., Celanese Corporation, Quantum Composites, Reliance Industries Limited, PFG FIBER GLASS CORPORATION and Advanced Composites Inc.

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