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GFRP Composites Market : Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
GFRP Composites MarketThe Global Glass Fiber Reinforced Plastics (GFRP) Composites Market was valued at USD 19.8 Billion in 2022, and is projected to reach USD 37.2 Billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
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In the automotive sector, there's been a noticeable uptick in employing GFRP composites across various components. These materials offer advantageous properties like exceptional strength, resistance to corrosion, and flexibility in design. This versatility allows GFRP composites to be used in manufacturing automotive body panels, various vehicle parts, interior components, and even structural elements. Similarly, in the aerospace industry, there's been a considerable increase in utilizing GFRP composites in crafting critical aircraft components such as wings, fuselage sections, and internal structures.
The primary driving force behind this adoption is the remarkable strength-to-weight ratio offered by these composites. This specific quality enables the creation of aircraft components that are both robust and lightweight, a crucial combination in the aerospace sector. Industries are continuously striving to enhance performance metrics, diminish fuel consumption, and meet stringent requirements. Consequently, this has led to an escalating need for GFRP composites, owing to their capability to fulfill these criteria effectively.
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Segment by Resin Type
Polyester resin
Vinyl ester resin
Epoxy resin
Polyurethane resin
Segment by Process
Manual process
Continuous process
Compression molding
Injection molding
By Company
Asahi Kasei Corporation, PPG Industries, Inc., Nitto Boseki Co., Ltd., Nippon Sheet Glass Co., Ltd, Owens Corning, 3B - the fibreglass company, Mitsubishi Chemical Group Corporation, Celanese Corporation, Johns Manville, Sancom Composites LLP
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