Global Glass Fiber Reinforced Plastics Gfrp Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 47.61 Billion |
 Market Size (Forecast Year) |
USD 79.09 Billion |
 CAGR |
% |
| Major Markets Players |
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Global Glass Fiber-reinforced Plastics (GFRP) Market Segmentation, By Resin Type (Polyester, Vinyl Ester, Epoxy, Polyurethane, Thermoplastic, and Others), End-User (Wind Energy, Electrical & Electronics, Transportation, Pipes & Tanks, Construction & Infrastructure, Marine, Aerospace & Defense, and Other End-Use Industries), Manufacturing Process (Compression & Injection Molding Process, Layup, Filament Winding, Pultrusion, Resin Transfer Molding (RTM), and Other Manufacturing Processes), Form (Rebar, Powder, Sheet, Panel, Rolls, and Others) – Industry Trends and Forecast to 2031.
Glass Fiber-reinforced Plastics (GFRP) Market Analysis
The glass fiber-reinforced plastics (GFRP) composites market is experiencing significant growth, driven by the increasing demand across various industries for lightweight, durable, and high-strength materials. These composites, which combine glass fibers with a plastic matrix, are valued for their superior mechanical properties, including high strength-to-weight ratio, impact resistance, and corrosion resistance. The automotive and aerospace industries are major contributors to market expansion, as manufacturers seek to enhance fuel efficiency and performance while reducing vehicle and aircraft weights. Additionally, the construction sector is increasingly adopting GFRP composites for their durability and low maintenance requirements in structural applications. The marine industry also benefits from GFRP composites due to their resistance to water and environmental degradation.
Glass Fiber-reinforced Plastics (GFRP) Market Size
Global glass fiber-reinforced plastics (GFRP) market size was valued at USD 47.61 billion in 2023 and is projected to reach USD 79.09 billion by 2031, with a CAGR of 6.55% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Glass Fiber-reinforced Plastics (GFRP) Market Trends
“Growing Marine Industry Applications”
The rapid growth of the marine industry is driving a surge in demand for glass fiber reinforced plastics (GFRP) composites, particularly in boat and shipbuilding. As global maritime activities increase, there is a growing need for materials that can withstand the harsh conditions of the marine environment, including saltwater exposure, high humidity, and varying temperatures. GFRP composites are exceptionally well-suited for these applications due to their inherent properties of corrosion resistance, durability, and lightweight nature. The marine industry’s emphasis on reducing maintenance costs and enhancing the longevity of vessels aligns perfectly with the benefits offered by GFRP composites. As advancements in composite manufacturing technology continue to improve the performance and affordability of GFRP materials, their use in the marine industry is expected to expand further. This trend is supported by increasing investments in research and development aimed at optimizing GFRP composites for various marine applications.
Overall, the growing marine industry presents significant opportunities for GFRP composites, driven by the need for durable, efficient, and cost-effective solutions in boat and shipbuilding. The material's ability to meet the rigorous demands of the marine environment positions it as a valuable asset in the ongoing evolution of maritime technology.
Report Scope and Glass Fiber-reinforced Plastics (GFRP) Market Segmentation
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Attributes |
Glass Fiber-reinforced Plastics (GFRP) Key Market Insights |
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Segmentation |
By Resin Type: Polyester, Vinyl Ester, Epoxy, Polyurethane, Thermoplastic, and Others By End-User: Wind Energy, Electrical & Electronics, Transportation, Pipes & Tanks, Construction & Infrastructure, Marine, Aerospace & Defense, and Other End-Use Industries By Manufacturing Process: Compression & Injection Molding Process, Layup, Filament Winding, Pultrusion, Resin Transfer Molding: RTM and Other Manufacturing Processes By Form: Rebar, Powder, Sheet, Panel, Rolls, and Others |
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Countries Covered |
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America |
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Key Market Players |
Owens Corning (U.S.), JEC (France), PPG Industries, Inc. (U.S.), Johns Manville (U.S.), Saint-Gobain (France), and Nippon Sheet Glass Co., Ltd (Japan) |
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Market Opportunities |
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Value Added Data Infosets |
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework. |
Glass Fiber-reinforced Plastics (GFRP) Market Definition
Glass fiber reinforced plastics (GFRP) composites are a type of composite material made by embedding glass fibers into a plastic matrix. This combination creates a material with enhanced mechanical properties compared to the base plastic alone.
Glass Fiber-reinforced Plastics (GFRP) Market Dynamics
Drivers
- Growing Demand for Lightweight Materials
Both sectors are focused on reducing the weight of components to enhance fuel efficiency and overall performance. GFRP composites are particularly valued for their excellent strength-to-weight ratio, which allows manufacturers to achieve substantial weight reductions without compromising strength or durability. This demand for lightweight materials aligns with broader industry trends towards more efficient, high-performance vehicles and aircraft, further boosting the adoption of GFRP composites. The increasing need for lightweight materials, particularly in the automotive and aerospace industries, significantly drives the demand for glass fiber-reinforced plastics (GFRP) composites.
- Increased Use in Renewable Energy
Wind turbine blades, which require materials with high strength and fatigue resistance, benefit greatly from the properties of GFRP composites. These materials' ability to withstand harsh environmental conditions and their durability make them ideal for use in wind turbines. As the global emphasis on sustainable energy sources increases, the demand for GFRP composites in wind turbine production and other renewable energy applications is expected to rise, highlighting their critical role in advancing energy technologies. The expansion of the renewable energy sector, especially wind energy, is driving the need for GFRP composites.
Opportunities
- Development of Advanced Resin Systems
Innovations in resin systems, such as the development of bio-based or high-performance resins, present significant opportunities for enhancing the properties and applications of GFRP composites. Advanced resins can improve the mechanical performance, environmental resistance, and overall functionality of GFRP composites. These innovations not only expand the range of applications for GFRP composites but also address growing environmental concerns by offering more sustainable alternatives. As resin technology continues to evolve, it will enable the creation of more effective and versatile GFRP composites, creating opportunities in the market.
- Integration with Smart Technologies
The integration of smart technologies and sensors into GFRP composites offers new opportunities for their application and performance monitoring. Manufacturers can gain real-time data on the condition and performance of the composites by embedding sensors within the composite material. This capability allows for advanced monitoring of structural health, predictive maintenance, and improved safety in critical applications. The incorporation of smart technologies enhances the functionality of GFRP composites, making them suitable for more sophisticated and demanding applications across various industries, creating new market opportunities.
Restraints/Challenges
- Limited Recycling Options
The recycling of GFRP composites poses significant challenges, primarily due to the complex nature of the materials and the lack of established recycling processes. Unlike more conventional materials, GFRP composites are difficult to break down and repurpose, which can impact their environmental sustainability. The absence of effective recycling solutions limits the long-term sustainability of GFRP composites and raises concerns about their environmental footprint.
- Competition from Alternative Materials
The availability of alternative materials, such as carbon fiber composites and traditional metals, presents competition for GFRP composites. While GFRP composites offer several advantages, including their strength and lightweight properties, they must compete with other high-performance materials that may be preferred in certain applications due to their superior characteristics or established use. The presence of these alternative materials can limit the adoption of GFRP composites in specific sectors and applications, making it essential for GFRP to demonstrate clear advantages to gain a competitive edge.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Glass Fiber-reinforced Plastics (GFRP) Market Scope
The market is segmented on the basis of resin type, end-user, manufacturing process, and form. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Resin Type
- Polyester
- Vinyl Ester
- Epoxy
- Polyurethane
- Thermoplastic
- Others
End-User
- Wind Energy
- Electrical & Electronics
- Transportation
- Pipes & Tanks
- Construction & Infrastructure
- Marine
- Aerospace & Defense
- Other End-Use Industries
Manufacturing Process
- Compression & Injection Molding Process
- Layup
- Filament Winding
- Pultrusion
- Resin Transfer Molding (RTM)
- Other Manufacturing Processes
Form
- Rebar
- Powder
- Sheet
- Panel
- Rolls
- Others
Global Glass Fiber-reinforced Plastics (GFRP) Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, resin type, end-user, manufacturing process, and form as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to several factors. These include an increase in wind energy capacity installations, greater use of GFRP composite pipes in sewage and water management, high consumption potential, expanded production capacities, and a rising economic growth rate in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Global Glass Fiber-reinforced Plastics (GFRP) Market Share
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Glass Fiber-reinforced Plastics (GFRP) Market Leaders Operating in the Market Are:
- Owens Corning (U.S.)
- JEC (France)
- PPG Industries, Inc. (U.S.)
- Johns Manville (U.S.)
- Saint-Gobain (France)
- Nippon Sheet Glass Co., Ltd (Japan)
Latest Developments in Glass Fiber-reinforced Plastics (GFRP) Market
- In June 2024, Borealis launched Borcycle™ GD3600SY, a glass-fiber reinforced polypropylene (PP) compound containing 65% post-consumer recycled (PCR) polymer. The initial use of this material will be in center console carriers for the new Peugeot 3008, developed in collaboration with Plastivaloire and Stellantis
- In October 2021, LANXESS introduced a sustainable high-performance plastic, a polyamide 6 compound composed of 92% sustainable raw materials. This launch represents a significant advancement toward a circular economy. The content of sustainable raw materials is made transparent and traceable through independent certification using the mass balance method
- In April 2021, Bedford Reinforced Plastics introduced its FRP structure line, featuring pre-engineered and prefabricated structures such as catwalks, walkways, and fixed ladders. These components can be combined for flexible configurations and require minimal ongoing maintenance
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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