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

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