Glass Fiber Reinforced Plastic Market 2018 Global Industry Analysis, Booming Trends, Top Key Player Strategy and Opportunity Assessment by 2023

Global Glass Fiber Reinforced Plastic (GFRP) Market Research Report– Information by Reinforcing Material (Polyester, Epoxide, Polyamide, and Others), by End Use (Building & Construction, Marine, Transportation, Chemical Plants, Renewable Energy and Others) and Region- Forecast till 2023

Glass Fiber Reinforced Plastic (GFRP) Market Overview to 2023

Glass fiber reinforced plastic is a lightweight material that provides UV resistance, chemical resistance, high filling capacity and shrinkage resistance. Owing to multiple benefits of the glass fiber reinforced plastic, it has a wide range of application in various industrial sectors. The rapid increase in utilization of glass fiber reinforced plastic in construction and building, marine, chemical plants, transportation and other industries is majorly driving the growth of the global glass fiber reinforced plastic (GFRP) market.

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Global Top 10 Key Players in GFRP during forecast period

Some of the prominent players operating in the Global GFRP Market are Owens Corning (U.S.), Jushi Group Co., Ltd. (China), Chongqing Polycomp International Corporation (China), PPG Industries, Inc. (U.S.), Johns Manville Corporation (U.S.), Saint-Gobain Corporation (U.S.), Nippon Sheet Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (China), AGY Holding Corp. (U.S.), Asahi Fiber Glass Co., Ltd. (Japan), Binani Industries Limited (India), Celanese Corporation (U.S.), SAERTEX GmbH & Co. KG (Germany), NITTOBO ASIA Glass Fiber Co. Ltd. (Taiwan), and BGF Industries, Inc. (U.S.) among others.

Glass Fiber Reinforced Plastic (GFRP) Market- Intended Audience 2023

GFRP Manufacturers
Traders and Distributors of GFRP
Production Process Industries
Potential Investors
Raw Material Suppliers
Nationalized Laboratory

Glass Fiber Reinforced Plastic (GFRP) Market– Market Overview / Study Objective / Synopsis

GFRP has largely replaced traditional wood and steel building methods to manufacture yachts, ships and marine transportation vehicles across the globe is anticipated to be an important driver for GFRP Market during the review period. Furthermore, rapid urbanization coupled with increasing disposable income in emerging economies is predicted to propel the growth of the market during the assessment period, 2017 to 2023. However, the mechanical properties of Glass-Fiber Epoxy Resin Composites are generally negatively impacted by moisture and high temperature, which is expected to hamper the growth of the market.

Competitive Analysis

As per our Analysis, some of the prominent market factors and trends identified in the Global GFRP Market include rapid industrialization owing to the world is potentially on the edge of an age where demand for powerful materials coupled with innovation in the chemicals industry. Rising demand for low weight, mouldability and high quality surface finishes make GFRP an ideal material for automotive car body panels, and increasing expenditure on research activities are the other factors. Moreover, demand for GFRP is predicted to witness a significant growth over the assessment period due to surging marine industry.

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Segmentation

The Global GFRP Market is categorized on the basis of reinforcing material type, end user industry, and region. On the basis of reinforcing material type, the market is bifurcated into polyester, epoxide, polyamide, and others. On the basis of end user industry, the GFRP Market is categorized into building & construction, marine, transportation, chemical plants, renewable energy, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis

Europe is estimated to be the largest GFRP Market followed by North America and Europe due to strong existence of maritime industry. In Europe, Germany, Russia, Norway and Spain are predicted to register a strong growth on account of tremendous demand for GFRP in yacht manufacturing facilities. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for GFRP, and is estimated to grow with the same pace over the forecast period.Glass fiber reinforced plastics (GFRP) are composite materials that are made of polymer matrix reinforced with silica-based fibers. According to the report published by Market Research Future (MRFR), the global glass fiber reinforced plastic (GFRP) market is anticipated to project noteworthy expansion during the forecast period of 2017-2023.

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