Global Glass Fiber Reinforced Plastics (GFRP) Composites Market is valued approximately USD 18.53 billion in 2023 and is anticipated to grow with a growth rate of more than 8.53% over the forecast period 2024-2032 The Glass Fiber Reinforced Plastics (GFRP) Composites market encompasses a wide range of products and applications where glass fibers are used as reinforcement within a polymer matrix, typically resin. GFRP composites 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. Across many countries, governments and private enterprises are channeling substantial investments into diverse building, transportation, and utility ventures. GFRP composites emerge as the material of choice for these endeavors due to their exceptional attributes, including a high strength-to-weight ratio, resistance to corrosion, and durability. These composites offer structurally sound, cost-efficient, and environmentally sustainable solutions that align with the evolving needs of modern infrastructure development.
There has been a notable surge in the automotive sector towards integrating GFRP composites into various components. These materials boast advantageous properties such as exceptional strength, corrosion resistance, and design flexibility. This adaptability allows GFRP composites to be seamlessly incorporated into manufacturing automotive body panels, diverse vehicle parts, interior components, and even structural elements. Similarly, the aerospace industry has witnessed a significant increase in the utilization of GFRP composites for crafting critical aircraft components like wings, fuselage sections, and internal structures. The driving force behind this adoption is the remarkable strength-to-weight ratio offered by these composites. This specific attribute enables the production of aircraft components that are both sturdy and lightweight, a crucial combination in the aerospace sector. Furthermore, Global Glass Fiber Reinforced Plastics (GFRP) Composites Market is being driven by factors such as increasing number of wind energy capacity installations and increasing use of GFRP composites in the construction & infrastructure industry. However, issues related to recycling and high processing and manufacturing costs will stifle market growth between 2022 and 2032.
The key regions considered for the global Glass Fiber Reinforced Plastics (GFRP) Composites market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Asia Pacific was the largest regional market in the global market place. fueled by rising demand within the construction, automotive, and aerospace sectors, the popularity of GFRP is soaring in the region. Economic growth, coupled with advancements in technology and a focus on lightweight materials, are key factors driving this trend. Major industry players are doubling down on research and development efforts, propelling the market expansion even further. Moreover, the government's emphasis on infrastructure development has spurred increased construction activities in the country. China's transport ministry and National Development and Reform Commission (NDRC) have outlined plans to invest USD 724 billion in constructing 303 key transportation projects. These projects encompass railways, highways, waterways, airports, and urban rail networks, reflecting a significant commitment to enhancing the country's infrastructure. The market in Europe, on the other hand, is expected to develop at the fastest rate over the forecast period.
Major market player included in this report 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
- Mitsubishi Chemical Group Corporation.
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:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
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 regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- 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.
Table of Contents
Chapter 1.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Definition and Research Assumptions
- 1.1.Research Objective
- 1.2.Market Definition
- 1.3.Research Assumptions
- 1.3.1.Inclusion & Exclusion
- 1.3.2.Limitations
- 1.3.3.Supply Side Analysis
- 1.3.3.1.Availability
- 1.3.3.2.Infrastructure
- 1.3.3.3.Regulatory Environment
- 1.3.3.4.Market Competition
- 1.3.3.5.Economic Viability (Consumer's Perspective)
- 1.3.4.Demand Side Analysis
- 1.3.4.1.Regulatory frameworks
- 1.3.4.2.Technological Advancements
- 1.3.4.3.Environmental Considerations
- 1.3.4.4.Consumer Awareness & Acceptance
- 1.4.Estimation Methodology
- 1.5.Years Considered for the Study
- 1.6.Currency Conversion Rates
Chapter 2.Executive Summary
- 2.1.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Size & Forecast (2022- 2032)
- 2.2.Regional Summary
- 2.3.Segmental Summary
- 2.3.1.By Resin Type
- 2.3.2. By Process
- 2.3.3. By End Use Industry
- 2.4.Key Trends
- 2.5.Recession Impact
- 2.6.Analyst Recommendation & Conclusion
Chapter 3.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Dynamics
- 3.1.Market Drivers
- 3.2.Market Challenges
- 3.3.Market Opportunities
Chapter 4.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market: Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.1.6.Futuristic Approach to Porter's 5 Force Model
- 4.1.7.Porter's 5 Force Impact Analysis
- 4.2.PESTEL Analysis
- 4.2.1.Political
- 4.2.2.Economic
- 4.2.3.Social
- 4.2.4.Technological
- 4.2.5.Environmental
- 4.2.6.Legal
- 4.3.Top investment opportunity
- 4.4.Top winning strategies
- 4.5.Disruptive Trends
- 4.6.Industry Expert Perspective
- 4.7.Analyst Recommendation & Conclusion
Chapter 5.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Size & Forecasts by Resin Type 2022-2032
- 5.1.Polyester resin
- 5.2.Vinyl ester resin
- 5.3.Epoxy resin
- 5.4.Polyurethane resin
- 5.5. Others
Chapter 6.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Size & Forecasts by Process 2022-2032
- 6.1.Manual process
- 6.2.Continuous process
- 6.3.Compression molding
- 6.4.Injection molding
Chapter 7.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Size & Forecasts by End Use Industry 2022-2032
- 7.1.Aerospace and defense,
- 7.2.Construction
- 7.3. Wind energy
- 7.4.Automotive
- 7.5. Electrical and electronics
- 7.6.Others
Chapter 8.Global Glass Fiber Reinforced Plastics (GFRP) Composites Market Size & Forecasts by Region 2022-2032
- 8.1.North America Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.1.1.U.S. Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.1.1.1. Resin Type breakdown size & forecasts, 2022-2032
- 8.1.1.2.Process breakdown size & forecasts, 2022-2032
- 8.1.1.3.End Use Industry breakdown size & forecasts, 2022-2032
- 8.1.2.Canada Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.Europe Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.1.U.K. Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.2.Germany Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.3.France Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.4.Spain Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.5.Italy Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.2.6.Rest of Europe Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.Asia-Pacific Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.1.China Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.2.India Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.3.Japan Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.4.Australia Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.5.South Korea Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.3.6.Rest of Asia Pacific Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.4.Latin America Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.4.1.Brazil Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.4.2.Mexico Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.4.3.Rest of Latin America Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.5.Middle East & Africa Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.5.1. Saudi Arabia Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.5.2. South Africa Glass Fiber Reinforced Plastics (GFRP) Composites Market
- 8.5.3.Rest of Middle East & Africa Glass Fiber Reinforced Plastics (GFRP) Composites Market
Chapter 9.Competitive Intelligence
- 9.1.Key Company SWOT Analysis
- 9.2.Top Market Strategies
- 9.3.Company Profiles
- 9.3.1. Owens Corning
- 9.3.1.1.Key Information
- 9.3.1.2.Overview
- 9.3.1.3.Financial (Subject to Data Availability)
- 9.3.1.4.Product Summary
- 9.3.1.5.Market Strategies
- 9.3.2. Johns Manville
- 9.3.3.Sancom Composites LLP
- 9.3.4.Asahi Kasei Corporation
- 9.3.5.PPG Industries, Inc.
- 9.3.6.3B - the fibreglass company
- 9.3.7.Nippon Sheet Glass Co., Ltd.
- 9.3.8.Nitto Boseki Co., Ltd.
- 9.3.9.Celanese Corporation
- 9.3.10.Mitsubishi Chemical Group Corporation
Chapter 10.Research Process
- 10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
- 10.2.Research Attributes