Glass Fiber Reinforced Plastics (GFRP) Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC437

Introduction

Glass fiber is a durable and lightweight artificial fiber manufactured using very fine fibers of glass. In comparison to carbon fibers, glass fibers possess low brittleness and their production is relatively more cost effective. Moreover, in comparison to metals, glass fibers possess better strength and weight. In addition, the glass fibers can be easily formed by using various molding processes. These are largely used as one of the most important raw material for the production of different and unique composite materials. GFRP composites are widely used in a vast range of end use industries such as construction, wind energy, aerospace, automotive, anti-corrosive industrial equipment and piping. The rising demand for GFRP composites especially from construction and transportation industries is one of the key aspects anticipated to fuel the global glass fiber reinforced plastic market in the foreseeable years.

Market Dynamics

Despite glass fibers, thermoset resin is another important raw material used in the production of GFRP composite materials. Currently, the use of thermoplastic resins is increasing as a raw material as an alternative for thermoset resin used in the manufacture of GFRP composites. The use of thermoplastic resins reduces the total turnaround cost and time required in production of GFRP composites. Furthermore, thermoplastic resins offer relatively higher strength and impact as well as a better surface finish to ultimate composite materials. In addition, thermoplastic resins can be feasibly molded and recycled with ease. The application of such raw materials enhances the final quality of GFRP composites and thus is a key factor driving the demand for GFRP composites in a wide range of industrial applications across the globe.

Use of fiberglass in varied products ranges from basic sectors namely pipes, electrical, tanks etc. to specialized sectors such as wind energy, automotive, aerospace, defense, marine, transportation, consumer goods, construction and electronics which is being the largest market for GFRP. Variety in weather resistance, texture, light weight attributes and high strength of fiberglass are some key factors which have contributed to its rising demand over the past few decades. Moreover, shift in focus of organizations towards exploring new avenues for the use of fiberglass is another key factor accelerating the growth of the global GFRP market.

Market Classification

The global GFRP market can be segmented on the basis of type, application, process and region. On the basis of type, the global GFRP market can be segmented into polyester, vinyl ester, epoxy, polyurethane and others (PEEK and phenolic). On the basis of application, the global GFRP market can be segmented into transportation, aerospace & defense, wind & energy, electricals & electronics, construction & infrastructure, marine, pipe, tank, others (agriculture, healthcare and consumer goods). On the basis of process, the global GFRP market can be segmented into injection molding, compression molding, manual process and continuous molding. On the basis of region, the global GFRP market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage

Market

Global Glass Fiber Reinforced Plastics (GFRP) Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Type, Application, Process, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

Key players in the global GFRP market are focusing on market strategies such as mergers and acquisitions to maintain their goodwill in the ever competitive market. Some of the players operating in the GFRP market include Johns Manville, BGF Industries, Asahi Glass Company Limited, Advanced Glassfiber Yarns LLC, Jushi Group Co. Ltd., Owens Corning, Taishan Fiberglass Inc., Chomarat Group, PPG Industries Inc., Chongqing Polycomp International Corp., Saertex Group, Binani 3B-The Fibreglass Company, Nippon Sheet Glass Co. Ltd., Nitto Boseki Co. Ltd. and Saint-Gobain Vetrotex among others.

Market Segmentation

Market By Type

·         Polyester

·         Vinyl ester

·         Epoxy

·         Polyurethane

·         Others (PEEK and phenolic)

Market By Application

·         Transportation

·         Aerospace & defense

·         Wind & energy

·         Electricals & electronics

·         Construction & infrastructure

·         Marine

·         Pipe

·         Tank

·         Others (Agriculture, Healthcare and Consumer Goods)

Market By Process

·         Injection molding

·         Compression molding

·         Manual process

·         Continuous molding

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


Related Reports

Synthetic Paper Market (By Product: BOPP (Biaxially Oriented Polypropylene), HDPE (High-Density Polyethylene), PET (Polyethylene Terephthalate); By Application: Label, Non-Label) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction Global synthetic paper market size is estimated to reach a value of around USD 1.4 billion by the end of the year 2026. The industry is expected to grow with a CAGR of 7.1% during the upcoming years. Market Dynamics Synthetic papers are 100% recyclable and are es

Paint Protection Film Market (By Product: TPU (Thermoplastic Polyurethane), PVC (Polyvinyl Chloride), Polyester, PET(Polyethylene Terephthalate), Polyethylene; By Application: Automotive, Aerospace, Marine, Electrical & Electronics) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global paint protection film market size was valued at USD 468 million in 2017, and is estimated to reach at 809 million by the end of year 2026, expand at a growth rate of 7.2% during the forecast period. Market Dynamics Paint Protection Film is categorized

Optical Coatings Market (By Product: Anti-reflective Coatings, Reflective Coatings, Filter Coatings, Conductive Coatings, Electrochromic Coatings; By Application: Consumer Electronics, Solar, Medical, Architecture, Aerospace & Defense, Automotive, Telecommunication) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global market size of optical coatings was value at 12.8 billion at 2017 and is expected to reach 25.7 billion by the end of year 2026. The market is estimated to grow at a CAGR of 9% over the forecast period. Market Dynamics Optical coatings are used in the

Screen-Printing Inks Market (By Type: Water-based, Solvent-based, UV-cured, Others; By Application: Commercial Printing, Publication, Labels & Packaging, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global screen-printing inks Market is projected worth US$ 1,135.6 million by 2026 and the market is projected to showcase 4.7% CAGR during the forecast period. The screen printing inks market is driven by advancement in digital printing technologies. Market Dynamics

Conductive Inks Market (By Type: Silver Conductive Inks, Copper Conductive Inks, Conductive Polymers, Conductive Nanotube Inks, Graphene/Carbon Inks; By Application: Photovoltaic Cells, Displays, Radio Frequency Identification, Printed Circuit Boards, Biosensors) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global conductive inks market’s value is expected to reach USD 4.3 million by the end of 2026 and the market is anticipated to markets a CAGR of 3.7% through the coming years. The market growth is determined by innovation in printed electronic applications. Market Dynamics

Cart Summary