Europe Glass Fiber Reinforced Plastics (GFRP) Composites Market Size study, by Resin Type (Polyester resin, Vinyl ester resin, Epoxy resin, Polyurethane resin, Others) by Process (Manual process, Continuous process, Compression molding, Injection molding)

Europe Glass Fiber Reinforced Plastics (GFRP) Composites Market Size study, 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) and Country Forecasts 2022-2032

Europe Glass Fiber Reinforced Plastics (GFRP) Composites Market is valued approximately USD 4.08 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.97% over the forecast period 2024-2032. The Glass Fiber Reinforced Plastics (GFRP) Composites encompasses a wide range of products and applications where glass fibers are used as reinforcement within a polymer matrix, typically resin. This composite offer a combination of lightweight, high strength, corrosion resistance, and design flexibility, making them suitable for various industries such as automotive, aerospace, construction, marine, and wind energy. Europe is a leading market for wind energy, and GFRP composites play a crucial role in the manufacturing of wind turbine blades. As the wind energy sector continues to grow and installations of wind turbines increase, the demand for GFRP composites is expected to rise significantly.

There is a rising demand for GFRP composites in the automotive industry in Europe. Automakers are increasingly using GFRP materials to manufacture lightweight components such as body panels, chassis parts, and interior trim. This trend is driven by the need to reduce vehicle weight to improve fuel efficiency and meet stringent emissions regulations. Moreover, GFRP composites are increasingly being used in the renewable energy sector in Europe, particularly in wind energy. Wind turbine blades made from GFRP materials offer advantages such as high strength-to-weight ratio, corrosion resistance, and fatigue resistance. As the demand for clean energy continues to grow, the use of GFRP composites in wind turbine blades is expected to increase. Furthermore, the market is driven by focus on adoption of Sustainable Materials and Advancements in Manufacturing Technologies. However, high initial costs and limited recycling infrastructure is expected to hinder the market growth between 2022 and 2032.

The key countries considered for the Europe Glass Fiber Reinforced Plastics (GFRP) Composites market study includes UK, Germany, France, Italy, Spain, and Rest of Europe. In 2023, Germany was the largest market in the regional market. In its long-term strategy, owing to rising automotive industry, rising manufacturing of electric vehicles in the region. According to data from the Federal Motor Transport Authority, the first half of 2022 witnessed a noteworthy surge in electric car registrations in Germany, marking a 25% increase compared to the corresponding period in the previous year. This boost elevated the share of fully electric vehicles to 13.5% of all new registrations. Overall, registrations of alternative-drive cars, encompassing battery electric vehicles, hybrids, plug-in hybrids, hydrogen fuel cell vehicles, and gas vehicles, experienced a robust 14.2% increase, constituting almost half of all new car registrations. In the realm of electric mobility, German brands played a prominent role, capturing a substantial 50.6% share of new passenger car registrations with electric drive. As part of a visionary initiative, Germany aims to have 15 million electric vehicles on the road by 2030. The market in UK, on the other hand, is expected to develop at the fastest rate over the forecast period.

Major market player included in this report are:
Solvay S.A.
Arkema Group
Teijin Limited
Sika AG
BASF SE
LANXESS AG
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

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
Aerospace and defense
Construction
Wind energy
Automotive
Electrical and electronics
Others
By Region:
Europe
UK
Germany
France
Spain
Italy
ROE

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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