Glass Fiber-Reinforced Plastic Market is segmented by End-Use Industry Type (Transportation, Marine, Wind Energy, Aerospace, Pipes & Tanks, Construction, Electrical and Electronics, Consumer Goods, and Others), by Resin Type (UPR, Vinyl Ester, Epoxy, PA, PP, Phenolic, and Others), by Glass Fiber Type (E/ECR Glass, S Glass, C Glass, and Others), by Manufacturing Process Type (Hand Lay-up, Spray up, Resin Infusion, Pultrusion, Injection Molding, Compression Molding, Prepreg Lay-up, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Glass Fiber-Reinforced Plastic Market is segmented by End-Use Industry Type...
The Glass Fiber Reinforced Plastic Market is expected to grow from USD 45.87 billion in 2022 to USD 68.88billion by 2028 at a CAGR of 6.69% during the forecast period.
Glass fiber-reinforced plastic is a composite material composed of a polymer matrix reinforced with fibers, most commonly carbon, glass, aramid, and basalt. Because of their excellent resistance to corrosion, abrasive chemicals, and weather, these glass fiber-reinforced plastics can be utilized in a variety of settings ranging from the residential to commercial and educational sectors.
Rising product demand from various end-use industries is likely to drive market growth during the forecast period. Growing demand for lightweight materials in the transportation industry, electrical resistivity and high flame-retardant materials in the electrical and electronics industry, and corrosion and chemical-resistant materials in the construction and pipe & tank industries are expected to drive the growth of the market in the coming years.
Segments Analysis
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 market is segmented into the following categories-
By End-Use Industry Type
Transportation
Marine
Wind Energy
Aerospace
Pipes & Tanks
Construction
Electrical and Electronics
Consumer Goods
Others
By Resin Type
UPR
Vinyl Ester
Epoxy
PA
PP
Phenolic
Others
By Glass Fiber Type
E/ECR Glass
S Glass
C Glass
Others
By Manufacturing Process Type
Hand Lay-up
Spray up
Resin Infusion
Pultrusion
Injection Molding
Compression Molding
Prepreg Lay-up
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World
By End-Use Industry Type
The market is segmented as transportation, marine, wind energy, aerospace, pipes & tanks, construction, electrical and electronics, consumer goods, and others. Transportation is estimated to hold the largest share of the marketduring the forecast period. The growth of the segment can be attributed to the increasing demand for lightweight vehicles with energy-saving performance. Furthermore, favorable government policies to reduce carbon emissions are likely to fuel the segment’s growth in the coming years.
Regional Analysis
In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period with India and China being the growth engines of the region. The increasing population, growing economy, and rising urbanization have led to a surge in the growth of various end-use industries such as construction, transportation, and electrical and electronics in the region, fueling the overall market growth during the forecast period.
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Key Players
The following are the key players in the glass fiber-reinforced plastic market:
Owens Corning
Jushi Group Co., Ltd.
Chongqing Polycomp International Corporation
Taishan Fiberglass Inc.
Nippon Electric Glass Co., Ltd.
3B Goa Glass Fiber
Johns Manville Corporation
Nitto Boseki Co., Ltd.
BASF SE
Ashland LLC
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s glass fiber-reinforced plastic market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
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 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both 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.
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 Glass Fiber-Reinforced Plastic Market
How lucrative is the future?
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
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
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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 three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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Owens Corning, Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Taishan Fiberglass Inc., Nippon Electric Glass Co., Ltd., 3B Goa Glass Fiber, Johns Manville Corporation, Nitto Boseki Co., Ltd., BASF SE, and Ashland LLC are some of the key players in the market.
Asia-Pacific, led by China and India, is estimated to remain the leading region in the glass fiber-reinforced plastic market in the foreseen future. The increasing population, growing economy, and rising urbanization have led to an increase in the growth of various end-use industries such as construction, transportation, and electrical and electronics in the region, fueling the overall market growth during the forecast period.
Transportation is estimated to be the dominant segment of the market during the forecast period. The growth of the segment can be attributed to the rising demand for lightweight vehicles with energy-saving performance. Further, favorable government policies to reduce carbon emissions are likely to fuel the segment’s growth in the coming years.
Growing demand for lightweight materials in the transportation industry, electrical resistivity and high flame-retardant materials in the electrical and electronics industry, and corrosion and chemical-resistant materials in the construction and pipe & tank industries are expected to drive the growth of the market in the coming years.
Glass fiber-reinforced plastic is a composite material composed of a polymer matrix reinforced with fibers, most commonly carbon, glass, aramid, and basalt. Because of their excellent resistance to corrosion, abrasive chemicals, and weather, these glass fiber-reinforced plastics can be utilized in a variety of settings ranging from the residential to commercial and educational sectors.