Glass Fiber-Reinforced Plastic Market Growth Analysis

Market Highlights

The Glass Fiber Reinforced Plastic Market is expected to grow from USD 45.87 billion in 2022 to USD 68.88 billion by 2028 at a CAGR of 6.69% during the forecast period.

Wish to get a free sample? Register Here

What is glass fiber-reinforced plastic?

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 market during 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.

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?

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 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

Custom Research: Stratview Research offers custom research services across the 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 [email protected]