GFRP Composites Market Report

GFRP Composites Market Insights

GFRP Composites Market is likely to witness an impressive CAGR of 6.5% during the forecast period. High demand for GFRP composites from various industries such as transportation, wind energy, electrical & electronics, and pipes & tanks is expected to fuel the growth of the market during the forecast period.

Market Share Analysis

Wish to Get a Free Sample? Register Here

GFRP Composites Market Share: By Resin Type

Based on the resin type, the market is segmented as 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 application. The polyester segment accounted for the largest share of the market in 2016. 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.

GFRP Composites Market Share: By End-Use Industry Type

Based on the end-use industry type, the GFRP composites market is segmented as 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.

GFRP Composites Market Share: By Manufacturing Process Type

Based on the manufacturing process type, the GFRP composites market is segmented as compression & injection molding, layup, filament winding, pultrusion, RTM, and others. Compression & injection molding process is estimated to be the fastest-growing manufacturing process in the market during the forecast period as it offer various benefits, along with fast cycle time, low scrap rate, low labor cost, and low mold-clamping pressure. Compression & injection molding is 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 for the production of bumpers for vehicles, enclosures for medical devices, panels for electrical equipment, and others, which in turn, is driving the growth of the segment.

GFRP Composites Market Share: By Region

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.

Know which region offers best growth opportunities. Register Here

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. 

Market Scope & Segmentation

GFRP (Glass Fiber Reinforced Polymer) composites are usually used as a substitute of aluminum and steel in the industry of transportation. These composites are 15-20% lighter than the traditional metals, which help to reduce the weight of a vehicle by 60% with the use of GFRP components.

Glass fiber reinforced polymers can be used for both exterior and interior fixtures in different types of styles, shapes, and textures for various restorative projects and new buildings.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The GFRP composites market is segmented into the following categories. 

GFRP Composites Market Size, Share, & Forecast, by Resin Type:

• Polyester Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Vinyl Ester Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Epoxy Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyurethane Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Thermoplastic Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others
  •  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Resin Type Analysis: Phenolic, Benzoxazine, Cyanate Ester, and Bismalimide)

GFRP Composites Market Size, Share, & Forecast, by End-Use Industry Type:

• Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Transportation
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Rail and Automotive)
• Pipes & Tanks
  •  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Oil and Gas, Water & Wastewater Treatment Plants, Pulp and Paper, and Others)
• Construction & Infrastructure
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Decking and Railing, Rebars, and Others)
• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace & Defense
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Interior and Exterior)
• Others
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Healthcare, Consumer Goods, and Sporting Goods)

GFRP Composites Market Size, Share, & Forecast, by Manufacturing Process Type:

• Compression & Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Layup (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Filament Winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pultrusion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• RTM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

GFRP Composites Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report 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 resin types by end-use industry 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 at sales@stratviewresearch.com.