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

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 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

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)