Glass Fiber Reinforced Plastics (GFRP) Composites Market By Resin Type (Polyester resin, Vinyl ester resin, Epoxy resin, Polyurethane resin, Others), By Process (Manual process, Continuous process, Compression molding, Injection molding), By End Use Industry (Aerospace and defense, Construction, Wind energy, Automotive, Electrical and electronics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global glass fiber reinforced plastics (GFRP) composites market was valued at $19.8 billion in 2022, and is projected to reach $37.2 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
Glass fiber reinforced plastic composites, commonly known as fiberglass composites, represent a class of materials composed of a polymer matrix reinforced with glass fibers. These composites are vital in a variety of sectors because of their outstanding strength, durability, and adaptability. Glass fibers, which are thin strands made from melted glass, are mixed with a polymer like epoxy, polyester, or vinyl ester resin to create these composites. This combination results in a material with remarkable properties, blending the lightweight nature of polymers with the high strength-to-weight ratio of glass fibers. This composite has several applications including aerospace and automotive, as well as construction, marine, sports equipment, and consumer goods. The unique properties of fiberglass composites, including corrosion resistance, electrical insulation, and thermal stability, contribute to their widespread use and the continued search for innovative solutions in a wide range of sectors.
The increasing focus on sustainable and eco-friendly materials is driving the demand for GFRP composites. Tightening regulations and environmental concerns prompt the search for materials that are recyclable and environmentally conscious. Ongoing research aims to improve the recyclability of composite materials, thereby enhancing the sustainability profile of GFRP composites. The development of recyclable GFRP composites would mark a significant advancement, fostering growth opportunities in industries striving for environmentally friendly solutions. Governments and regulatory bodies globally are imposing stricter regulations aimed at reducing carbon emissions, promoting recycling, and improving resource efficiency. GFRP composites, with their potential for recyclability and lower carbon footprint compared to certain conventional materials, are increasingly sought after to meet these stringent regulatory requirements.
The increasing focus on sustainable and eco-friendly materials is driving the demand for GFRP composites. Tightening regulations and environmental concerns prompt the search for materials that are recyclable and environmentally conscious. Ongoing research aims to improve the recyclability of composite materials, thereby enhancing the sustainability profile of GFRP composites. The development of recyclable GFRP composites would mark a significant advancement, fostering growth opportunities in industries striving for environmentally friendly solutions. Governments and regulatory bodies globally are imposing stricter regulations aimed at reducing carbon emissions, promoting recycling, and improving resource efficiency. GFRP composites, with their potential for recyclability and lower carbon footprint compared to certain conventional materials, are increasingly sought after to meet these stringent regulatory requirements.
Technological advancements in glass fiber reinforced plastic (GFRP) composites have propelled significant innovations, revolutionizing their manufacturing, properties, and applications. Advanced manufacturing techniques have streamlined the production processes of GFRP composites, enabling precision and efficiency in creating complex components. Methods such as automated fiber placement, resin transfer molding, and additive manufacturing have optimized production, reduced costs, and facilitated the fabrication of intricate and tailored composite parts for diverse industries. Ongoing research focuses on developing innovative resin formulations and reinforcing fibers for GFRP composites. These advancements aim to enhance mechanical strength, durability, thermal stability, and resistance to environmental factors. Moreover, the integration of nanotechnology into GFRP composites offers opportunities to further augment their properties, introducing functionalities like increased strength, conductivity, or enhanced performance tailored to specific industry needs. Efforts in recycling technologies enable the efficient reuse of GFRP materials, minimizing waste and extending the material's lifecycle.
The glass fiber reinforced plastics (GFRP) composites market is segmented based on resin type, process, end-use industry, and region. By type, the market is divided into polyester resin, vinyl ester resin, epoxy resin, polyurethane resin, and others. Based on the process, it is categorized into manual process, continuous process, compression molding, and injection molding. Depending on the end-use industry, the market is segregated into aerospace and defense, construction, wind energy, automotive, electrical and electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global glass fiber reinforced plastics (GFRP) composites market are Owens Corning, Johns Manville, Sancom Composites LLP, Asahi Kasei Corporation, PPG Industries, Inc., 3B - the fibreglass company, Nippon Sheet Glass Co., Ltd, Nitto Boseki Co., Ltd., Celanese Corporation, and Mitsubishi Chemical Group Corporation. Other players include SGL Carbon, alformet, Röchling, Amiblu Holding GmbH, Chomarat Group, Saint Gobain Vetrotex, Honeywell International Inc., BASF SE, Reliance Industries Ltd., Advanced Composites Inc., Braj Binani Group, and BGF Industries Inc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the glass fiber reinforced plastics (gfrp) composites market analysis from 2022 to 2032 to identify the prevailing glass fiber reinforced plastics (gfrp) composites market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the glass fiber reinforced plastics (gfrp) composites market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global glass fiber reinforced plastics (gfrp) composites market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Resin TypePolyester resin
Vinyl ester resin
Epoxy resin
Polyurethane resin
Others
By ProcessManual process
Continuous process
Compression molding
Injection molding
By End Use IndustryAerospace and defense
Construction
Wind energy
Automotive
Electrical and electronics
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersOwens Corning
Johns Manville
3B - the fibreglass company
Sancom Composites LLP
Celanese Corporation
Nippon Sheet Glass Co., Ltd
Mitsubishi Chemical Group Corporation
Asahi Kasei Corporation
PPG Industries, Inc.
Nitto Boseki Co., Ltd.
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