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Global Glass Fiber-reinforced Plastics (GFRP) Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jul 2023
  • Global
  • 350 Pages
  • No of Tables:
  • No of Figures:

Global Glass Fiber-reinforced Plastics (GFRP) Market, 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 2030.

Glass Fiber-reinforced Plastics (GFRP) Market

Glass Fiber-Reinforced Plastics (GFRP) Market Analysis and Size  

Glass fiber-reinforced plastics (GFRP) are produced by fiberglass and are used widely in commercial and industrial applications due to their lightweight and durability. They usually have high tensile strength and flexibility as compared to metals. These materials are widely used in industries like aerospace, construction, automotive, marine, electrical, and others. They are also used to create various types of composite materials.

Data Bridge Market Research analyzes that the global glass fiber-reinforced plastics (GFRP) market, which was USD   44.68 billion in 2022, would rocket up to USD 95.67 billion by 2030, and is expected to undergo a CAGR of 6.55% during the forecast period.

Increasing demand for GFRP in the transportation industry is a vital factor escalating the market growth, also a rise in the number of wind energy capacity installations, an increase in the usage of  GFRP composite pipes in sewage & water management, a rise in the use of GFRP composites in the construction & infrastructure industry are the major factors driving the growth of Glass Fiber-reinforced Plastics (GFRP) market. 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 in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Glass Fiber-Reinforced Plastics (GFRP) Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Year

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Tons

Segments Covered

 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)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Owens Corning (U.S.), JEC Group (Paris) , PPG Industries, Inc. (India), Johns Manville (Denver), Saint-Gobain (Paris), Nippon Sheet Glass Co., Ltd (Tokyo)

Market Opportunities

  • Increasing demand for GFRP in the transportation industry.
  • Rise in the number of wind energy capacity installations.

Market Definition

Glass fiber-reinforced (GFRP)  plastics, commonly known as fiberglass or GRP, are composite materials made of a matrix of polymer resin reinforced with glass fibers. The glass fibers provide strength and stiffness to the material, while the polymer resin acts as a binder that holds the fibers together.

Global Glass Fiber-Reinforced Plastics (GFRP) Market Dynamics

Drivers

  • Lightweight and high strength

GFRP materials offer a combination of high strength and low weight, making them ideal for various applications where weight reduction is important, such as aerospace, automotive, and wind energy industries. The demand for lightweight materials with high strength is a significant driver for the GFRP market.

  • Growing wind energy sector

GFRP composites are extensively used in wind turbine blades due to their lightweight and high-strength properties. With the increasing demand for renewable energy, the wind energy sector is witnessing significant growth, thus driving the demand for GFRP materials.

Opportunity

  • Growing demand in automotive industry creates demand in the market

The automotive industry has increasingly adopted GRP materials for lightweight and improved fuel efficiency. GRP components offer a high strength-to-weight ratio, corrosion resistance, and design flexibility, making them suitable for automotive applications such as body panels, interiors, and structural parts.

Restraint/Challenge

  • High Production Cost

The manufacturing process of glass fiber-reinforced plastics involves several stages, including raw material acquisition, processing, and molding. These processes can be costly, making GRP products relatively expensive compared to other materials.

Recent Developments

  • At the annual Paris JEC Composites Show in late March, Owens Corning announced two new grades of short glass fiber (GF) reinforcements for polypropylene (PP) specifically engineered for automotive applications. The company also introduced a chopped strand product for high-performance polyphenylene sulfide (PPS) composites

Global Glass Fiber-Reinforced Plastics (GFRP) Market Scope

The global glass fiber-reinforced plastics (GFRP)s market is segmented into four segments: resin type, end-user, manufacturing process, and form. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and 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
  • Transporation
  • Pipes & Tanks
  • Construction & Infrastructure
  • Marine
  • Aerospace & Defense
  • Other

Manufacturing Process

  • Compression & Injection Molding Process
  • Layup
  • Filament Winding
  • Pultrusion
  • Resin Transfer Molding (RTM)
  • Other

Form

  • Rebar
  • Powder
  • Sheet
  • Panel
  • Rolls
  • Others

Global Glass Fiber-Reinforced Plastics (GFRP) Market Regional Analysis/Insights

The global glass fiber-reinforced plastics (GFRP) market is analyzed, and market size insights and trends are resin type, end-user, manufacturing process, and form, as referenced above.

The countries covered in this market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.                                                                                            

North America is excepted to dominate and pose significant growth due to a rise in the number of wind energy capacity installations, increase in the usage of GFRP composite pipes in sewage & water management, high consumption potential, increase in the production capacities, and rise in the economic growth rate in this 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, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Glass Fiber-reinforced Plastics (GFRP) Market Share Analysis

The global glass fiber-reinforced plastics (GFRP) market competitive landscape provides details by competitor. 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, and application dominance. The above data points provided are only related to the company’s focus related to the market.

Some of the major players operating in the global glass fiber-reinforced plastics (GFRP) market are:

  • Owens Corning (U.S.)
  • JEC Group (Paris)
  • PPG Industries, Inc. (India)
  • Johns Manville (Denver)
  • Saint-Gobain (Paris)
  • Nippon Sheet Glass Co., Ltd (Tokyo)


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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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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Glass Fiber-reinforced Plastics (GFRP) Market will be worth USD 95.67 billion by 2030.
The Glass Fiber-reinforced Plastics (GFRP) Market Growth Rate is 6.55% during the forecast period.
The GFRP materials offer a combination of high strength and low weight, making them ideal for various applications where weight reduction is important, such as aerospace, automotive, and wind energy industries. The demand for lightweight materials with high strength is a significant driver for the GFRP market and the Growing wind energy sector is the Growth driver of the Glass Fiber-reinforced Plastics (GFRP) Market.
The resin type, end-user, manufacturing process, and form are the factors on which the Glass Fiber-reinforced Plastics (GFRP) Market research is based.
At the annual Paris JEC Composites Show in late March, Owens Corning announced two new grades of short glass fiber (GF) reinforcements for polypropylene (PP) specifically engineered for automotive applications. The company also introduced a chopped strand product for high-performance polyphenylene sulfide (PPS) composites is the latest development in the Glass Fiber-reinforced Plastics (GFRP) Market.
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