Global Glass Fiber Reinforced Plastic Composites Market Growth, Trends, And Demand

The global glass fiber reinforced plastic (GFRP) composites market is estimated to occupy a large amount of revenue by growing at a CAGR of ~6% during the forecast period, i.e., 2022 – 2031, ascribing to the rising demand for GFRP from electrical & electronics, wind energy and transportation industries. Along with this, high tensile strength and light weight, and rapid surge in urbanization in emerging economies are also expected to accelerate the growth of the market in the forthcoming years.

The market is segmented by type, resin type and manufacturing process. Based on resin type, the polyester segment is anticipated to acquire the largest share during the forecast period on the back of superior corrosion resistance, and high-performance properties of this type of resin. Additionally, by manufacturing process, the compression & injection molding segment is projected to grab the largest share over the forecast period attributing to the low scrap rate, fast cycle time and less mold-clamping pressure offered by this process.

Research Nester published a report titled “Glass Fiber Reinforced Plastic (GFRP) Composites Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global glass fiber reinforced plastic (GFRP) composites market in terms of market segmentation by type, resin type, manufacturing process, and by region.

Geographically, the global glass fiber reinforced plastic (GFRP) composites market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the increasing number of residential construction projects, and high levels of urbanization in the region. Moreover, the market in Asia Pacific is assessed to witness noteworthy growth in the future owing to the growing consumption of GFRP composites in construction, electronics and wind energy industries in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rising Demand for the Product from Developing Nations to Bolster Market Growth

Rapidly growing oil & gas, chemicals and sewage industries in emerging economies of Asia Pacific and Latin America regions is predicted to drive the demand for GFRP pipes in the coming years. Along with this, high rate of urbanization in developing nations is also raising the demand for water management, which in turn is also evaluated to drive significant market growth in the near future.

However, high cost of the material is expected to operate as key restraint to the growth of the global glass fiber reinforced plastic (GFRP) composites market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global glass fiber reinforced plastic (GFRP) composites market which includes company profiling of Jushi Group, Owens Corning, PPG Industries, Inc., AGY Holding Corporation, Compagnie de Saint-Gobain S.A., Asahi Fiber Glass Co., Ltd., Nippon Sheet Glass Co., Ltd., Polycomp International Corporation, Chomarat Group, Nitto Boseki Co. Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global glass fiber reinforced plastic (GFRP) composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.   

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