Glass Fiber Reinforced Plastic (GFRP) Composite Materials Industry: Advancing Lightweight and Durable Materials (2023-2033)

According to Persistence Market Research, the global glass fibre reinforced plastic (GFRP) composite materials market would be worth US$17.1 billion in 2022. By the end of 2032, the market for GFRP composite materials is anticipated to be worth US$38.38 billion, growing at a CAGR of 8.4%.

In recent years, the market for composite materials composed of glass fibre reinforced plastic has expanded at an incredible rate. The sales of GFRP composite materials account for approximately 95% to 97% of the market's revenue, with sales of CFRP composite materials and aramid fibres accounting for the remaining 3% to 5%.

The glass fiber reinforced plastic (GFRP) composite materials market is witnessing significant growth as the demand for these materials continues to rise across various industries. GFRP composites, known for their high strength, lightweight nature, and excellent corrosion resistance, are finding applications in sectors such as automotive, aerospace, construction, and wind energy.

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One of the key drivers behind the market's rise is the increasing adoption of GFRP composites in the automotive industry. Automakers are leveraging the superior mechanical properties of GFRP composites to reduce the weight of vehicles, leading to improved fuel efficiency and reduced emissions. The demand for electric and hybrid vehicles, which require lightweight materials, is further boosting the market growth.

Moreover, the aerospace industry is recognizing the benefits of GFRP composites in aircraft manufacturing. These materials offer high strength-to-weight ratios, excellent fatigue resistance, and superior thermal properties, making them ideal for aerospace applications. The need for fuel-efficient aircraft, coupled with the increasing focus on reducing carbon footprint, is driving the demand for GFRP composites in the aerospace sector.

Furthermore, the construction industry is embracing GFRP composites for their durability, corrosion resistance, and design flexibility. These materials find applications in infrastructure projects, such as bridges, tunnels, and panels, where their high strength and resistance to environmental factors make them an attractive choice. Additionally, the growing emphasis on sustainable construction practices is driving the adoption of GFRP composites as eco-friendly alternatives.

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As industries across the board recognize the benefits of GFRP composites, the market is experiencing significant growth. The versatility, lightweight nature, and superior performance of these materials make them a preferred choice in automotive, aerospace, construction, and wind energy sectors. With the increasing demand for fuel-efficient vehicles, sustainable construction materials, and lightweight aircraft, the GFRP composite materials market is poised for continued expansion.

Companies Covered in This Report -

• Owens Corning
• Machine Retail Group
• Everest Composites
• Prolong Composites
• Sancom Composites
• Jushi Group
• Chongqing Polycomp International Corporation
• Taishan Fiberglass Inc.
• Asahi Fiberglass Co. Ltd.
• RG Fibrotech
• Saint Gobain
• Tribeni Fiber Pvt Ltd.
• AGY Holdings Corp
• Nitto Boseki Co. Ltd.
• Jiangsu jiuding New Material Co. ltd.
• Reliance Industries
• CNBM
• China Beihai Fiberglass Co. ltd
• Binani Industries Ltd

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GFRP Composite Materials Industry Survey Segmentation

By Glass Type:

• S-Glass
• C-Glass
• E-Glass
• Other Glass

By Resin Type:

• Polyester
• Vinyl Ester
• Epoxy
• Polyurethane
• Thermoplastic
• Others

By Manufacturing Process:

• Compression Molding
• Injection Molding
• Layup
• Filament Winding
• Pultrusion
• RTM & VARTM
• Others

By End Use:

• Transportation
• Building & Construction
• Electrical & Electronics
• Renewable Energy
• Infrastructure
• Chemicals/Corrosion
• Telecom
• Military & Defense
• Technical Textiles
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

About us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

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This release was published on openPR.