Press release
Glass Fibre Reinforced Plastic Products Market Share is Expected to Witness Healthy Valuation of US$ 41.92 Billion by 2033: Fact.MR Analysis
Glass Fibre Reinforced Plastic Products Market
The global glass fiber reinforced plastic (GFRP) product market. is set to reach USD 18.54 billion by 2023 and it is projected to rise to USD 41.92 billion by 2033. A recent report by Fact.MR, a leading market research and competitive intelligence provider, predicts continued growth and forecasts a global compound annual growth rate (CAGR) of 8.5% in demand for glass fiber reinforced plastic products by 2033.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8758
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Johns Manville
BGF Industries
Asahi Glass Company Limited
Advanced Glassfiber Yarns LLC
Chomarat Group
Jushi Group Co. Ltd
Taishan Fibreglass Inc
Owens Corning, PPG Industries Inc
Binani 3B-The Fibreglass Company
Saertex Group
Chongqing Polycomp International Corp
Saint-Gobain Vetrotex
Nitto Boseki Co. Ltd
Nippon Sheet Glass Co. Ltd
In recent years, the market for Glass Fiber Reinforced Plastics (GFRP) products has experienced significant growth due to the increase in demand from various industries. This growing demand is shaping the GFRP industry landscape, with key players seizing opportunities for innovation, expansion and market positioning.
๐๐ก๐ ๐๐ข๐ฌ๐ ๐ข๐ง ๐๐๐ฆ๐๐ง๐:
The main factor behind the strong growth of the GFRP products market is the increasing awareness and adoption of these materials in various industries. GFRP is growing in popularity in the automotive, construction, aerospace and marine industries due to its exceptional strength-to-weight ratio, corrosion resistance and design versatility.
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐๐ญ๐จ๐ซ:
One of the main factors in the growth of demand for GFRP products is the automotive industry. As manufacturers strive to produce lightweight yet durable vehicles that meet strict fuel efficiency standards, GFRP has become the material of choice for components such as body panels, interiors and structural members. This change not only improves the overall performance of the vehicle, but also contributes to sustainability goals by reducing fuel consumption and emissions.
๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐จ๐จ๐ฆ:
In the construction industry, GFRP is gaining traction as an alternative to traditional materials such as steel and concrete. Its resistance to corrosion and weathering combined with high strength makes it an ideal choice for applications such as rebar, bridge decks and building facades. The construction industry's increasing emphasis on durable and sustainable building materials will further increase the demand for GFRP.
๐๐๐ซ๐จ๐ฌ๐ฉ๐๐๐ ๐๐ง๐ ๐๐๐ฒ๐จ๐ง๐:
The aerospace industry has long recognized the benefits of GFRP, using its properties in aircraft components that require both strength and lightness. This trend is expected to continue as GFRP finds new applications in aircraft interiors, wings and other critical structures. In addition to the aerospace industry, the material enters other high-performance sectors such as wind energy, sports and leisure, and the electrical industry.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐
Market leaders are committed to continuous product innovation with the goal of providing cutting-edge Glass Fiber Reinforced Plastic (GFRP) solutions that meet the changing demands of end-use industries. They actively invest in research and development projects to improve the performance, durability and aesthetic properties of GFRP products. Anticipated strategies include new product introductions, collaborations and partnerships to increase customer appeal and maintain competitive advantage.
In February 2023, Toray Industries, Inc. made a groundbreaking announcement introducing an innovative high-speed thermal welding technology. specially adapted for carbon fiber reinforced plastics (CFRP). This state-of-the-art technology offers many advantages, including significant weight savings and the ability to achieve high production rates for CFRP aircraft.
๐๐๐ฒ ๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐๐ ๐๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฌ๐๐๐ซ๐๐ก
By Resin Type :
Polyester
Vinyl Ester
Epoxy
Polyurethane
Thermoplastic
By End-use Industry :
Wind Energy
Electrical & Electronics
Transportation
Pipes & Tanks
Construction & Infrastructure
Marine
Aerospace & Defense
By Manufacturing Process :
Compression & Injection Molding Process
Layup
Filament Winding
Pultrusion
Resin Transfer Molding (RTM)
By Form :
Rebar
Powder
Sheets
Panels
Rolls
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
๐๐๐๐ ๐๐จ๐ซ๐: https://www.factmr.com/report/glass-fibre-reinforced-plastic-products-market
The market for fiberglass reinforced plastic products is witnessing an exciting phase of expansion driven by increased demand from various industries. As technological advances continue to improve material properties and applications, the future looks promising for the GFRP industry. The continuous commitment to sustainability combined with the excellent properties of the material make GFRP a key factor in shaping the future of various production sectors.
๐๐จ๐ง๐ญ๐๐๐ญ:
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๐๐๐จ๐ฎ๐ญ ๐ ๐๐๐ญ.๐๐
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