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Glass Fiber Reinforced Plastic (GFRP) Market Size, Trends and Industry Growth Forecast to 2032
Glass Fiber Reinforced Plastic (GFRP) Market
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Definition: The size of the Glass Fiber Reinforced Plastic GFRP Market was valued at USD 16.7 Billion in 2023 and is projected to reach USD 25.46 Billion by 2032, with an expected CAGR of 6.21% during the forecast period. The GFRP market consists of the production and use of composite materials made out of glass fibers and plastic resins. GFRP materials are appropriate for use in various industries due to their strength-to-weight ratio, resistance to corrosion, durability of the formulation, and flexibility. Examples of such applications range from structural components and vehicle parts to wind turbine blades and pipes. Various factors are driving growth in the GFRP market. First, the increasing demand for lightweight materials, particularly in the automotive and aerospace sectors, is a major driver. GFRP helps to reduce the overall weight, thus providing improved fuel efficiency and reduced emissions for vehicles and aircraft. Second, with growing use by the construction sector in the application of bridges, cladding, and concrete reinforcement, GFRP is again proving its advantages due to its resistance to corrosion and exposure to weathering, resulting in reduced maintenance costs. Third, manufacturing technology for GFRP, with the application of automation techniques, has cut down expenses bringing in a new enthusiasm toward its application. Finally, the development of wind energy is providing great impetus to the spurt in demand for GFRP in manufacturing long and durable wind turbine blades.
Major Players in This Report Include: Owens Corning (U.S.), Jushi Group Co. Ltd. (China), Chongqing Polycomp International Corporation (China), PPG Industries Inc. (U.S.), Johns Manville Corporation (U.S.), Saint-Gobain Corporation (U.S.), Nippon Sheet Glass Co. Ltd. (Japan), Taishan Fiberglass Inc. (China), AGY Holding Corp. (U.S.), Asahi Fiber Glass Co. Ltd. (Japan), Binani Industries Limited (India), Celanese Corporation (U.S.), SAERTEX GmbH & Co. KG (Germany), NITTOBO ASIA Glass Fiber Co. Ltd. (Taiwan), BGF Industries Inc. (U.S.).
Global Glass Fiber Reinforced Plastic (GFRP) the manufacturing cost structure analysis of the market is based on the core chain structure, engineering process, raw materials and suppliers. The manufacturing plant has been developed for market needs and new technology development. In addition, Global Glass Fiber Reinforced Plastic (GFRP) Market attractiveness according to country, end-user, and other measures is also provided, permitting the reader to gauge the most useful or commercial areas for investments. The study also provides special chapter designed (qualitative) to highlights issues faced by industry players in their production cycle and supply chain.
The Global Glass Fiber Reinforced Plastic (GFRP) Market segments and Market Data Break Down are illuminated below: Reinforcing Material : Polyester, Epoxide, Polyamide, Others, End-Use Industry : Building & Construction, Marine, Transportation, Chemical Plants, Renewable Energy, Others
Market Trend:
• Increased Adoption of Glass Reinforced Plastic in the Transportation Sector will Drive Market Growth
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Geographically World Global Glass Fiber Reinforced Plastic (GFRP) markets can be classified as North America, Europe, Asia Pacific (APAC), Middle East and Africa and Latin America. North America has gained a leading position in the global market and is expected to remain in place for years to come. The growing demand for Global Glass Fiber Reinforced Plastic (GFRP) markets will drive growth in the North American market over the next few years.
In the last section of the report, the companies responsible for increasing the sales in the Global Glass Fiber Reinforced Plastic (GFRP) Market have been presented. These companies have been analyzed in terms of their manufacturing base, basic information, and competitors. In addition, the application and product type introduced by each of these companies also form a key part of this section of the report. The recent enhancements that took place in the global market and their influence on the future growth of the market have also been presented through this study.
Report Highlights:
• Comprehensive overview of parent market & substitute market
• In-depth market segmentation (Trends, Growth with Historical & Forecast Analysis)
• Recent industry trends and development activity
• Competitive landscape (Heat Map Analysis for Emerging Players & Market Share Analysis for Major Players along with detailed Profiles)
Strategic Points Covered in Table of Content of Global Glass Fiber Reinforced Plastic (GFRP) Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Glass Fiber Reinforced Plastic (GFRP) market
Chapter 2: Changing Impact on Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Glass Fiber Reinforced Plastic (GFRP);
Chapter 3: Exclusive Summary - the basic information of the Glass Fiber Reinforced Plastic (GFRP) Market.
Chapter 4: Evaluating the leading manufacturers of the Glass Fiber Reinforced Plastic (GFRP) market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 5: Presenting the Glass Fiber Reinforced Plastic (GFRP) Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 6: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2024-2032)
Chapter 7: Displaying the by Type, End User and Region/Country 2019-2024
…………….
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Key questions answered
• Who are the Leading key players and what are their Key Business plans in the Global Glass Fiber Reinforced Plastic (GFRP) market?
• What are the key concerns of the five forces analysis of the Global Glass Fiber Reinforced Plastic (GFRP) market?
• What are different prospects and threats faced by the dealers in the Global Glass Fiber Reinforced Plastic (GFRP) market?
• What possible measures players are taking to overcome and stabilize the situation?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Asia.
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About Author: Pro Market Reports is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies' revenues.
Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enable clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.
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