openPR Logo
Press release

Glass Fiber Reinforced Plastic (GFRP) Composite Materials Market to increase at a CAGR of 8.4% and to reach US$ 38.38 Bn by the end of 2033 | PMR

01-13-2023 11:51 AM CET | Industry, Real Estate & Construction

Press release from: Persistence Market Research

Glass Fiber Reinforced Plastic (GFRP) Composite Materials

Persistence Market Research estimates the global Glass Fiber Reinforced Plastic (GFRP) Composite Materials Market to reach a value of US$ 17.1 Bn in 2023. Sales of GFRP composite materials are expected to increase at a CAGR of 8.4% to reach a market size of US$ 38.38 Bn by the end of 2032.

Glass fibre reinforced plastic (GFRP) Market commonly known as fiberglass is a synthetic amalgamated material made up of plastic and extremely fine fibres of glass. It is the largest segment in the composite industry. GFRP composite material is a relatively low-cost composite material as compared to carbon and other metal fibre composites. From last few decade, this synthetic composite material is in demand for its high strength, light weight, corrosion resistance quality. GFRP products are in high demand in the industries such as wind energy, aerospace, and defence, construction, automotive, etc. for its light weight and corrosion resistant property.

The market for glass fiber-reinforced polymers (GFRP) would expand at a rate of 6.55% from 2023 to 2028, according to the forecast. The market for glass fiber-reinforced plastics (GFRP) is expanding as a result of an increase in construction activity in developing nations.

Request for Free Sample Copy of this Report @ https://www.persistencemarketresearch.com/samples/16870

Developing countries like China and India are developing their infrastructure; this leads in growth of construction industries which anticipated to drive demand for GFRP composite materials. Market space of GFRP composite material is very competitive, vendors with better access to technical and financial resources are focusing on developing innovative products to render their competitor products before their launch. Most of the key players in this market space have their inbuilt research and development departments.

Due to their durability and light weight, glass fiber-reinforced polymers (GFRP) are made by fibre glass and are frequently utilised in commercial and industrial applications. In comparison to metals, they often have high tensile strength and flexibility. These materials are widely used in a variety of industries, including aerospace, building, automotive, marine, and electrical. They are also employed in the production of several kinds of composite materials.

Buy Full Report Now @ https://www.persistencemarketresearch.com/checkout/16870

Key Companies-

Some of the market players accounting for global (GFRP) composite material market includes

• Delkom Group
• Advanced Glassfiber Yarns (Agy) Llc
• Nitto Boseki Co. Ltd.
• Saint-Gobain Vetrotex
• Jushi Group Co. Ltd.
• Taiwan Glass Ind Corp.
• Binani 3b-The Fibreglass Company
• Ppg Industries Inc.
• Gradeall International Limited
• Changzhou Pengyu Frp Pressure Vessel Co. Ltd.

An increase in demand for lightweight fiberglass composite in the automotive industry, rise in demand for diverse blade sizes in wind energy industry and infrastructure development in the construction industry are the leading factors behind GFRP market growth worldwide. GFRP composite material can be customized easily as it is versatile and profitable during its manufacturing. This property holds significant growth opportunity in the construction industry.

Based on the geographies, Glass fiber reinforced plastic (GFRP) composite material market is segmented into seven regions - North America GFRP composite material market, Latin America GFRP composite material market, Eastern Europe GFRP composite material market, Western Europe GFRP composite material market, APEJ GFRP composite material market, Japan GFRP composite material market and the Middle East & Africa GFRP composite material market.

Qualities like durability, thermal efficiency, and strength of fiberglass are attracting its end users. To meet increasing demand of GFRP composite market, GFRP composite material manufacturer has to face challenges such as availability of raw material, rising price, competition from carbon fibre and changing regulations.

Table of Content of this Report:

• Glass Fiber Reinforced Plastic Composite Material Market Overview and Analysis [ Market Size | Market Y-o-Y Growth | Market Dynamics]
• Glass Fiber Reinforced Plastic Composite Material Market Overview and Analysis [ Supply Chain | Cost Structure | Pricing Analysis | Raw Material Sourcing Strategy and Analysis | List of Distributors]
• Global Glass Fiber Reinforced Plastic Composite Material Market Analysis and Forecast By Product Type
• Global Glass Fiber Reinforced Plastic Composite Material Market Analysis and Forecast By Application Type
• Global Glass Fiber Reinforced Plastic Composite Material Market Analysis and Forecast By Region [ Europe | North America | APAC | Middle East and Africa]
• Global Glass Fiber Reinforced Plastic Composite Material Market Company Share, Competition Landscape and Company Profiles
• Research Methodology
• Secondary and Primary Sources
• Assumptions and Acronyms

Request For Report Customization @ https://www.persistencemarketresearch.com/request-customization/16870

Among the regions mentioned above, countries such as India, China, Thailand, and Vietnam are the developing countries focusing on their infrastructure development that includes new construction, renovation, and repair of the commercial, residential and institutional region.

Therefore, Asia Pacific (excluding Japan) along is leading GFRP composite material market space. Followed by North America in transportation sector use. Eastern and Western Europe are more active in research and development activities for developing high quality performing GFRP composite material products. Country wise China emerged as the largest producer, supplier and product consumer for GFRP products, followed by other developing countries like India and Brazil.

Related Reports

Rubber Processing Chemicals Market-https://www.persistencemarketresearch.com/market-research/rubber-processing-chemicals-market.asp

Ultrasonic Level Sensors Market-https://www.persistencemarketresearch.com/market-research/ultrasonic-level-sensors-market.asp

Contact Us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Website - https://www.persistencemarketresearch.com

About Us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Glass Fiber Reinforced Plastic (GFRP) Composite Materials Market to increase at a CAGR of 8.4% and to reach US$ 38.38 Bn by the end of 2033 | PMR here

News-ID: 2882375 • Views:

More Releases from Persistence Market Research

North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
Overview of the North America Wiring Devices Market The North America wiring devices market is poised for steady growth over the forecast period, with its size estimated at US$ 18.96 billion in 2024, projected to reach US$ 26.46 billion by 2031, reflecting a CAGR of 4.9%. The market is witnessing substantial expansion due to increasing urbanization, a rising number of residential and commercial construction projects, and the adoption of energy-efficient and
Global Forged Automotive Components Market Poised for Steady Growth, Projected to Reach US$ 70.7 Billion by 2032
Global Forged Automotive Components Market Poised for Steady Growth, Projected t …
The global forged automotive components market is on a robust growth trajectory, currently valued at approximately US$ 50.3 billion in 2025 and forecasted to expand to US$ 70.7 billion by the end of 2032. This growth represents a compound annual growth rate (CAGR) of 5.0% over the coming decade, driven by increasing automotive production, technological advancements, and evolving consumer preferences toward durable, high-performance vehicle parts. Forged automotive components are critical to
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ 2.14 Billion by 2032, Reports Persistence Market Research
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ …
The global electric cargo bike market is set to experience substantial growth over the coming decade, with Persistence Market Research (PMR) forecasting a compound annual growth rate (CAGR) of 11.9% from 2023 through 2032. Valued at approximately US$ 800 million in 2021, the market is expected to surge to a projected valuation of US$ 2.14 billion by the end of 2032. Notably, electric cargo bikes accounted for 66.2% of the
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Driven by Urbanization and Demographic Trends
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Drive …
The global bicycle bearings market is poised for significant expansion over the forecast period of 2025 to 2032, according to the latest report released by Persistence Market Research. Valued at approximately US$ 5.99 billion in 2024, the market is projected to reach US$ 6.35 billion by 2025 and further escalate to nearly US$ 9.86 billion by 2032. This growth trajectory reflects a compound annual growth rate (CAGR) of 6.5%, underscoring

All 5 Releases


More Releases for GFRP

GFRP Composites Market Size, Share and Growth Report, 2034
"The global Glass Fiber Reinforced Plastic (GFRP) composites market is valued at approximately $13.5 billion in 2024, with projections estimating a market value of around $25 billion by 2034. This growth reflects a robust Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2025 to 2034. " Exactitude Consultancy., Ltd. released a research report titled "GFRP Composites Market". This report covers the global GFRP Composites market sales, sales
GFRP Rebar Research:CAGR of 11.5% during the forecast period
QY Research Inc. (Global Market Report Research Publisher) announces the release of 2024 latest report "GFRP Rebars- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030". Based on current situation and impact historical analysis (2019-2023) and forecast calculations (2024-2030), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years. The
Global GFRP Composites Market Analysis (2023-2029)
The global GFRP Composites market size is projected to grow from US$ 30560 million in 2022 to US$ 39040 million in 2029; it is expected to grow at a CAGR of 39040 from 2023 to 2029. Global key players of GFRP composites include BASF, Lanxess, DSM and SABIC, the top four players hold a share over 11%. BASF is the largest producer, with a share of 4%. Asia-Pacific is the
GFRP Rebars Market To Scintillate From 2021-2031
GFRP Rebars Market: Introduction The traditional strengthened concrete members such as beams are composed of concrete included Portland cement and steel rebars reinforcement. The tensile and shear loads will be resisted by steel rebars embedded in the concrete. Recent technologies have resulted in alternative reinforcing materials such as GFRP materials commercially available in the form of bars that can be bonded in concrete members to fulfill several desired properties. Glass fiber
GFRP Composites Market Size & Analysis - Forecast to 2026
As per the research conducted by GME, the Global GFRP Composites Market will grow with a CAGR value of 7.2% from 2021 to 2026. The demand for GFRP composites is driven by low cost, lightweight, elasticity, and resistance. In the shipping sector, the GFRP market has a larger reach. There are many production methods, but compression and injection molding are the most common since they are used in a wide
GFRP Composites Market: Competitive Dynamics & Global Outlook 2025
LP INFORMATION recently released a research report on the GFRP Composites market analysis and elaborate the industry coverage, current market competitive status, and market outlook and forecast by 2025. Moreover, it categorizes the global GFRP Compositesmarket by key players, product type, applications and regions,etc. The main objective of this market research is to help the readers understand the structure of GFRP Compositesmarket, market definition, overview, industry opportunities and trends, investment