Global Reinforced Plastic Market to Grow at 4.6% CAGR through 2026, Asia Pacific to Remain the Leading Market

A new research study titled, “Glass Reinforced Plastic Market - Global Industry Analysis, Size, Growth, Trends, Share and Forecast 2017 – 2026” has been added to the vast repository of Market Research Reports Search Engine (MRRSE). According to the research study, the global glass reinforced plastic market is likely to grow at a CAGR of 4.6% in terms of volume and reach a valuation of nearly 14,699 tons by the end of the forecast period.

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The comprehensive research study offers in-depth analysis and insights on the glass reinforced plastic market, highlighting the key factors that are likely to impact the growth of the market. An analysis on the drivers, restraints, opportunities, and threats impacting the marketplace has been included for the perusal of the readers. The research study also includes a detailed competitive analysis that tracks the developments of the leading players in the market.

According to the research study, demand for reinforced plastics is likely to witness steady growth over the forecast period, owing to its wide ranging applications. The properties of glass reinforced plastics, such as low weight, high quality, and weather resistance are likely to provide an impetus to growth during the forecast period.

The business intelligence study also offers in-depth analysis and insights on region-wise forecast and analysis. According to the report, Asia Pacific is likely to remain one of the leading markets for glass reinforced plastic during the assessment period. The region is home to a number of manufacturing hubs, and in addition to exports, domestic consumption has also witnessed an increase in the region. Among the various countries of Asia Pacific, demand for glass reinforced plastic is likely to remain robust in China and India. Overall, the demand for glass reinforced plastic in Asia Pacific is likely to reach 5,163 tons by the end of the forecast period.

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According to the report, another key factor driving the growth of the glass reinforced plastic market in Asia Pacific is the steadiness in the region’s automotive sector. Steady car sales in China and India have led to rapid gains in the region’s automotive sector, and the outlook for long term remains positive. Glass reinforced plastics are widely used in the automotive industry, and it is highly likely that demand from this industry will push the broader prospects of the market.

According to the report, some of the leading players profiled in the research study include Gees Recycling Srl, Kolon Corporation, Racolin Ltd., HLB Co., Ltd., Fibrelite Ltd., and PPG Industries. These players are focusing on consolidating their position in Asia Pacific, as the region is likely to offer a spate of opportunities in the near future.

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This release was published on openPR.