The Glass Fiber Reinforced Plastics (GFRP) composites comprise glass fibers reinforced with various thermoset or thermoplastic resins. Owing to their lightweight, high strength, flexible design solutions, and high durability, these composites are being preferred in various end-use industries such as aerospace & defense, transportation, pipes & tanks, electricals & electronics, construction & infrastructure, marine, and others. The GFRP composites market is projected to grow from USD 43.93 billion in 2017 to USD 82.10 billion by 2027, at a CAGR of 6.4% between 2017 and 2027.
In terms of value, the transportation end-use industry segment accounted for the largest share of the GFRP composites market in 2016. Owing to their lightweight, GFRP composites are used as substitutes of aluminum and steel in the transportation industry. GFRP composites are lighter than traditional metals by 15–20% and therefore, the weight of a vehicle can be reduced by 60% with the use of GFRP components. This increases the fuel efficiency of the vehicle and reduces its carbon footprint. In addition, stringent regulations such as CAFE and UNEP in North America and Europe have been laid down to reduce greenhouse gas emissions through the use of lightweight and fuel-efficient materials in structural components of vehicles. This has encouraged the transportation industry in North America and Europe to adopt GFRP composites. The need for low cost, automated manufacturing process to produce complex and customized parts in automotive, aerospace, and wind energy end-use industry are driving the use of additive manufacturing (3D Printing) in the GFRP composites.
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The Asia Pacific region accounted for the largest share of the global GFRP composites market in 2016, owing to its high demand from the wind energy, electrical & electronics, and construction end-use industries in the region, accompanied by regulatory norms mandating the use of eco-friendly materials. The growth of the wind energy industry in the region has increased the demand for lightweight GFRP composites. The greater focus by India and China on the production of electricity through renewable resources and the increasing wind installations in China, Japan, India, and other emerging countries are expected to drive the GFRP composites market in the region. The construction sector is also driving the GFRP composites market, especially in China and Japan.
Key companies offering GFRP composites have adopted the strategy of investments & expansions to strengthen their position in the GFRP composites market. Leading companies adopted this strategy to increase their distribution channels, strengthen their presence in developed and emerging countries, and meet the growing customer demand. Companies also adopted the strategies of partnerships, and joint ventures & agreements to expand their product reach globally and gain a competitive edge in the market. Companies have also adopted new product launches and agreements to increase their product portfolios and gain access to new and potential markets. The GFRP composites market witnessed mergers of established companies with small companies to enhance distribution networks and diversify product portfolios. Leading companies are acquiring small composite manufacturing companies in emerging regions to expand their global reach.
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Major manufacturers of GFRP composites profiled in this report are Owens Corning (US), Jushi Group (China), CPIC (China), PPG Industries (US), Taishan Fiberglass (China), etc. These companies have adopted various organic and inorganic growth strategies such as agreements & partnerships, investments & expansions, acquisitions, and new product developments to expand their global presence and increase their penetration into the global GFRP composites market.
Owens Corning (US) is one of the key manufacturers of GFRP composites that offers SMC/BMC Rovings, Panel Roving, Roving for Chopping, rovings for filament winding, chopped strand mat, high-performance glass fibers, Cem-FIL alkali-resistant glass fibers, etc. The company has increased investments, year-on-year, in R&D to develop new products, new production capabilities, and processes. As part of its growth strategy, the company is focused on the expansion of its capacities to cater to the increasing demand for GFRP composites.
The Jushi Group (China) is a global manufacturer of glass fiber products. The company is one of the major fiberglass manufacturers in China and serves the aerospace & defense, transportation, construction & infrastructure, chemicals, electrical & electronics, infrastructure, marine, and wind energy industries. The company is conducting research studies for the development of new products for different applications and is providing highest quality products. The company continues to invest in its facilities and in research & development to maintain a leading position in the global GFRP composites market.
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Global Glass Fiber Reinforced Plastics (GFRP) Composites Market is accounted for $46.74 billion in 2020 and is expected to reach $89.11 billion by 2028 growing at a CAGR of 8.4% during the forecast period.
Growing adoption in the transportation industry, rise in the number of wind energy capacity installations and increasing usage in construction and infrastructure are driving the market growth.
However, high manufacturing and processing are hampering the growth of the market.Glass fiber reinforced plastic (GFRP) is a synthetic amalgamated material made up of plastic and extremely fine fibers of glass.
GFRP composite material is a relatively low-cost composite material as compared to carbon and other metal fiber composites and is used in a wide range of industry applications.Based on the resin type, the polyester segment is going to have lucrative growth during the forecast period which can be attributed to their corrosion resistance and superior performance properties.
They are used in a wide range of applications like aircraft, electronics components, automotive and railways among many others.Request for Sample with Complete TOC and Figures & Graphs @ https://www.trendsmarketresearch.com/report/sample/13693By geography, Asia Pacific is going to have high growth during the forecast period due to the rise in consumption of GFRP composites in several industries such as wind energy, construction & infrastructure, electrical & electronics, and transportation.Some of the key players profiled in the Glass Fiber Reinforced Plastics (GFRP) Composites Market include Advanced Composites, Inc., Agy Holdings Corp., Asahi Fiber Glass Co., Ltd., BGF Industries, Inc., Celanese Corporation, China Beihai Fiberglass Co. Ltd., China National Building Materials Group Co., Ltd., Chongqing Polycomp International Corporation, Jiangsu Jiuding New Materials Co., Ltd., John Manville, Nippon Sheet Glass Co., Ltd., Nitto Boseki Co., Ltd., Owens Corning, Pfg Fiberglass Corporation and PPG Industries, Inc.Forms Covered:• Panel• Powder• Rebar• Rolls• SheetResin Types Covered:• Epoxy• Fillers• Glass Fiber• Polyester• Polyurethane• Thermoplastic Resins• Thermoset Resins• Vinyl Ester• Other Resin TypesManufacturing Processes Covered:• Compression & Injection Molding Process• Continuous• Filament Winding• Layup• Manual• Pultrusion• Resin Transfer Molding (RTM)Direct Purchase this Market Research Report Now @ https://www.trendsmarketresearch.com/checkout/13693/SingleTypes Covered:• General-Purpose Glass Fibers• Special-Purpose Glass FibersSales Channels Covered:• Direct Sales• DistributorEnd Users Covered:• Electrical & Electronics• Wind Energy Turbines• Transportation• Pipes & Tanks• Construction & Infrastructure• Marine• Aerospace & Defense• Other End UsersRegions Covered:• North Americao USo Canadao Mexico• Europeo Germanyo UKo Italyo Franceo Spaino Rest of Europe• Asia Pacifico Japano Chinao Indiao Australiao New Zealando South Koreao Rest of Asia Pacific• South Americao Argentinao Brazilo Chileo Rest of South America• Middle East & Africao Saudi Arabiao UAEo Qataro South Africao Rest of Middle East & AfricaGet Discount On The Purchase Of This Report @ https://www.trendsmarketresearch.com/report/discount/13693What our report offers:– Market share assessments for the regional and country-level segments– Strategic recommendations for the new entrants– Covers Market data for the years 2019, 2020, 2021, 2025 and 2028– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)– Strategic recommendations in key business segments based on the market estimations– Competitive landscaping mapping the key common trends– Company profiling with detailed strategies, financials, and recent developments– Supply chain trends mapping the latest technological advancementsFree Customization Offerings:All the customers of this report will be entitled to receive one of the following free customization options:• Company Profilingo Comprehensive profiling of additional market players (up to 3)o SWOT Analysis of key players (up to 3)• Regional Segmentationo Market estimations, Forecasts and CAGR of any prominent country as per the client’s interest (Note: Depends on feasibility check)• Competitive Benchmarkingo Benchmarking of key players based on product portfolio, geographical presence, and strategic alliancesGet Discount On The Purchase Of This Report @ https://www.trendsmarketresearch.com/report/discount/3657Understand the specific dynamics influencing the market – key using factors, challenges, and hidden opportunities.
A new research study from “Data Bridge Market Research” with title Glass Fiber-reinforced Plastics (GFRP) Market Insights 2019, Global Analysis and Forecast to 2026 provides an in-depth assessment of the Women’s Health including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies.
Key players profiled in this report are: Owens Corning, JEC Group, PPG Industries, Inc., Johns Manville, Saint-Gobain, AGY, Nippon Sheet Glass Co., Ltd, ASAHI FIBER GLASS Co., Ltd., Braj Binani Group, BGF Industries, Inc., Nitto Boseki Co., Ltd, PFG FIBER GLASS CORPORATION, Celanese Corporation, SAERTEX GmbH & Co. KG, Reliance Industries Limited, Denka Company Limited, RTP Company, Reinforced Plastic Industries, Aeron Composite Pvt.
Ltd, FIBREX and others.Global glass fiber-reinforced plastics (GFRP) market is expected to rise from its initial estimated value by registering a substantial CAGR of 6.70% in the forecast period of 2019-2026.
Rising installation of wind energy capacity is the major factor for the growth of this market.Get Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-glass-fiber-reinforced-plastics-gfrp-marketSegmentation: Global Glass Fiber-reinforced Plastics (GFRP) MarketGlobal Glass Fiber-reinforced Plastics (GFRP) Market By Resin Type (Polyester, Vinyl Ester, Epoxy, Polyurethane, Thermoplastic, Others)End- User (Wind Energy, Electrical & Electronics, Transportation, Pipes & Tanks, Construction & Infrastructure, Marine, Aerospace & Defense, Other End-Use Industries)Manufacturing Process (Compression & Injection Molding Process, Layup, Filament Winding, Pultrusion, Resin Transfer Molding (RTM), Other Manufacturing Processes)Process (Manual, Continuous, Compression Molding, Injection Molding)Form (Rebar, Powder, Sheet, Panel, Rolls, Others)Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026Market Drivers:Rising construction activities in developing countries is driving the growth of this marketIncreasing demand of GFRP in transportation industry is another factor driving the market growthGrowing number of wind energy capacity installations will drive the market growthRising usage of GFRP composite pipes in sewage & water management will also accelerate the growth of the marketMarket Restraints:High production cost is restraining the growth of this marketIncreasing recyclability issue is another factor restraining the market growthComplete Report is Available @ https://www.databridgemarketresearch.com/inquire-before-buying/?dbmr=global-glass-fiber-reinforced-plastics-gfrp-marketKey Developments in the Market:In February 2019, SABIC announced the launch of their Stamax Stadeck which is specially designed for building and construction market.
They are constructed in such a way that these panels can stay outdoors for long periods without rotting or corroding.
They are very suitable for fencing, sheathing, decking, wheel chair ramps among othersIn July 2017, Owens Corning Infrastructure Solutions announced that they have acquired Aslan FRP.
Glass Fiber Reinforced Polymer (GFRP) market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Glass Fiber Reinforced Polymer (GFRP) market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2015-2026.Segment by Type, the Glass Fiber Reinforced Polymer (GFRP) market is segmented into:General-Purpose Glass FibersSpecial-Purpose Glass FibersDownload FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/59631/global-china-glass-fiber-reinforced-polymer-2026-808Segment by Application, the Glass Fiber Reinforced Polymer (GFRP) market is segmented into:Wind EnergyTransportationMarinePipes & TanksConstruction & InfrastructureElectrical & ElectronicsAerospace & DefenseOtherRegional and Country-level Analysis:The Glass Fiber Reinforced Polymer (GFRP) market is analysed and market size information is provided by regions (countries).The key regions covered in the Glass Fiber Reinforced Polymer (GFRP) market report are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It also covers key regions (countries), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.Competitive Landscape and Glass Fiber Reinforced Polymer (GFRP) Market Share Analysis:Glass Fiber Reinforced Polymer (GFRP) market competitive landscape provides details and data information by players.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020.
