The future of the global glass fiber reinforced plastic (GFRP) market is attractive with opportunities in various end use industries, including transportation, marine, wind energy, pipe and tank, construction, electrical and electronics, consumer goods, and aerospace. The global GFRP market declined in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $37.3 billion by 2026 with a CAGR of 4.5% from 2021 to 2026. The major drivers for growth in this market are increasing demand for lightweight materials in the transportation industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and high flame retardant materials demand in electrical and electronics industry.
Emerging trend, which has a direct impact on the dynamics of the industry, includes penetration of low dielectric glass fiber in high performance PCB . Owens Corning, Jushi, Nippon Electric Glass Co.Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corporation (CPIC), Johns Manville, INEOS, BASF, Dupont, Polynt, Huntsman, and Hexion are among the major raw materials suppliers for glass fiber reinforced plastic market.
A total of 157 figures / charts and 135 tables are provided in this 325-page report to help in your business decisions. Sample figures with insights are shown below. To learn the scope of benefits, companies researched, and other details of the GFRP market report, please download the report brochure.
The study includes trends and forecast for the global GFRP market by product type, end use industry and region as follows:
By End Use Industry (Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026):
- Wind Energy
- Pipe & tank
- Electrical and Electronics
- Consumer Goods
By Resin Type (Value ($M) shipment analysis from 2015 to 2026):
- Vinyl ester
By Glass Fiber Type (Value ($M) shipment analysis from 2015 to 2026):
- E/ECR Glass
- S Glass
- C Glass
By Manufacturing Process (Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026):
- Hand lay up
- Spray up
- Resin infusion
- Injection molding
- Compression molding
- Prepreg lay up
By Region (Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026):
- North America
- Asia Pacific
- Rest of World
By Country (Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026):
In this market, E (ECR) glass, S glass, C glass, and other glass are the type of glass fiber utilized to manufacture composite parts for various end use industries. On the basis of its comprehensive research, Lucintel forecasts that E (ECR) glass will remain the largest fiber type by value and volume over the forecast period.
Within the global glass fiber market, transportation will remain the largest end use industry by value and value due to government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight.
Asia Pacific is expected to remain the largest region by value and volume over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.
Emerging trends, which have a direct impact on the dynamics of the glass fiber industry, include cost optimization and performance enhancement of glass fibers.
Some of the major GFRP manufacturers profiled in this report Owens Corning, Jushi, Nippon Electric Glass Co. Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corporation (CPIC), Johns Manville, Nittobo, Goa Glass Fiber Ltd, Taiwan Glass Group, and Sichuan Weibo New Material Group Co., Ltd.
Features of the Global GFRP Market
- Market Size Estimates: GFRP market size estimation in terms of value ($M) shipment.
- Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
- Segmentation Analysis: GFRP market size by various segments, such product type, resin type, manufacturing process, end use industry, and regions in terms of value and volume
- Regional Analysis: GFRP market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different fiber type, resin type, and end use industry, and regions for the GFRP market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the GFRP market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the global GFRP market by product type (E/ECR-glass, S-glass, C-glass, and others (NE glass, R-glass, and T-Glass)), resin type UPR, vinyl ester, epoxy, PA, PP, phenolic, and others), manufacturing process (hand lay-up, spray-up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay-up, and others), end use industry (transportation, marine, wind energy, pipe and tank, construction, electrical and electronics, consumer goods, and aerospace) and region (North America, Europe, Asia Pacific, and the Rest of the World)
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the GFRP market?
Q.5 What are the business risks and threats to the GFRP market?
Q.6 What are the emerging trends in this GFRP market and the reasons behind them?
Q.7 What are some changing demands of customers in the GFRP market?
Q.8 What are the new developments in the GFRP market? Which companies are leading these developments?
Q.9 Who are the major players in the GFRP market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the GFRP market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the GFRP market?