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    GFRP Composites Market Analysis | 2023-2028

    GFRP Composites Market Analysis | 2023-2028
    Report code - SRAM458 Delivery - 2 Weeks
    GFRP Composites Market Size, Share, Trend, Forecast & Industry Analysis: 2023-202 See more...

    Market Highlights

    The GFRP Composites Market was estimated at US$ 48.02 billion in 2022 and is expected to grow at a healthy CAGR of 6.6% during 2023-2028 to reach US$ 70.67 billion by 2028.

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    What are GFRP Composites?

    Glass Fiber Reinforced Polymer (GFRP) composites are materials composed of a matrix reinforced with glass fibers. The matrix, often made of a polymer such as epoxy or polyester resin, binds and protects the glass fibers, while the fibers provide strength and stiffness to the composite. GFRP composites exhibit excellent strength-to-weight ratio, corrosion resistance, and durability, making them popular in various industries, including construction, automotive, aerospace, and marine applications.

    GFRP Composites Market Overview


    6.6% for the next five years

    Major Resin Type

    Polyester Resin

    Fastest Manufacturing Process Type

    Compression & Injection Molding

    Region with the highest demand


    Key Players

    AGY Holdings Corp, Asahi Fiber Glass Co., LTD., Chongqing, Polycomp International Corporation, Johns Manville Corporation, Jushi Group Co., LTD., Nippon Sheet Glass Co. LTD., Owens Corning, PPG Industries, Inc., Saint-Gobain S.A. and Taishan Fiberglass, Inc.

    Market Drivers

    GFRP composites are commonly used to manufacture components such as panels, pipes, and structural elements, offering advantages like high strength, low weight, and resistance to environmental factors. These composites contribute to the development of lightweight and durable structures across diverse engineering fields and are expected to fuel the growth of the GFRP composites market during the forecast period.  

    Segments Analysis

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    By Resin Type

    The market is segmented into polyester resin, vinyl ester resin, epoxy resin, polyurethane resin, thermoplastic resin, and others. The polyester segment is estimated to hold the largest share of the GFRP composites market during the forecast period. The performance of the product can be improved by using resins, along with GFRP composites, as per the need of the application. The polyester segment accounted for the largest share of the market. It offers various attractive features such as resistance from corrosion, and excellent performance, due to which polyester resins are widely used as a matrix for GFRP composites in various applications such as automotive, aircraft, electronic components, railways, and others.

    By End-Use Industry Type

    The GFRP composites market is segmented into wind energy, electrical & electronics, transportation, pipes & tanks, construction & infrastructure, marine, aerospace & defense, and others. Transportation is estimated to account for the largest share of the GFRP market during the forecast period. There is a high demand for GFRP composites in the transportation industry owing to their lightweight, which increases fuel efficiency.

    By Manufacturing Process Type

    The market is segmented into compression & injection molding, layup, filament winding, pultrusion, RTM, and others. The compression & injection molding process is estimated to be the fastest-growing manufacturing process in the market during the forecast period as it offers various benefits, along with fast cycle time, low scrap rate, low labor cost, and low mold-clamping pressure. Compression & injection molding are widely used in various applications of GFRP composites, such as transportation & electrical & electronics industries. These composites are highly used for various key applications such as to produce bumpers for vehicles, enclosures for medical devices, panels for electrical equipment, and others, which in turn, is driving the growth of the segment.

    Regional Analysis

    In terms of regions, Asia-Pacific is expected to be the fastest-growing market for GFRP composites during the forecast period. The growth of the market is owing to the increasing consumption of GFRP composites in various end-use industries such as wind energy, electrical & electronics, construction & infrastructure, and transportation. In the Asia-Pacific’s GFRP composites market, China is the leading country and there has been the highest number of wind energy installations in the year 2019 and a new capacity of 23,328 MW was added to it later. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

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    Key Players

    Some of the major players in the GFRP composites market are-

    • AGY Holdings Corp
    • Asahi Fiber Glass Co., LTD.
    • Chongqing Polycomp International Corporation
    • Johns Manville Corporation
    • Jushi Group Co., LTD.
    • Nippon Sheet Glass Co. LTD.
    • Owens Corning
    • PPG Industries, Inc.
    • Saint-Gobain S.A.
    • Taishan Fiberglass, Inc.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the GFRP Composites Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Who are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players).
    • SWOT analysis of key players (up to 3 players).

    Market Segmentation

    • Current market segmentation of any one of the product types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The GFRP Composites Market is expected to grow at a healthy CAGR of 6.6% during 2023-2028.

    AGY Holdings Corp, Asahi Fiber Glass Co., LTD., Chongqing Polycomp International Corporation, Johns Manville Corporation, Jushi Group Co., LTD., Nippon Sheet Glass Co. LTD., Owens Corning, PPG Industries, Inc., Saint-Gobain S.A., and Taishan Fiberglass, Inc are the key players in the GFRP composites market.

    The GFRP Composites Market is expected to reach US$ 70.67 billion by 2028.

    Transportation is estimated to account for the largest share of the GFRP composites market in the coming years.

    Asia-Pacific is expected to be the fastest growing GFRP composites market during the next five years.