Prominent Glass Fiber Reinforced Plastic (GFRP) Composites Market Driver for 2025: Growing Construction Industry Is Driving The Growth Of The Glass Fiber Reinforced Plastic (GFRP) Composites Market

What Are the Projected Growth and Market Size Trends for the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
Over the past few years, there has been a significant expansion in the size of the glass fiber reinforced plastic (GFRP) composites market. It is projected to rise from $26.15 billion in 2024 to $28.23 billion in 2025, representing a compound annual growth rate (CAGR) of 8.0%. The rise during the historical period can be credited to factors such as greater infrastructure investments, an enhanced emphasis on sustainability, increased research and development activities, a growing preference for environmentally-friendly materials, and a burgeoning wind energy sector.

In the coming years, the market size of Glass Fiber Reinforced Plastic (GFRP) composites is anticipated to experience substantial expansion. It is predicted to surge to $37.97 billion by 2029, clocking an impressive compound annual growth rate (CAGR) of 7.7%. The growth through the projected period can be credited to factors such as the burgeoning automotive industry, infrastructural advancements, the booming electrical and electronic sectors, the transition from metal to composite materials, and governmental backing for renewable energy. Notable trends for the forecast period encompass the creation of high-performing resins, the use of automation and robotics in manufacturing, real-time quality control mechanisms, enhanced fiber reinforcement, and the assimilation of augmented reality (AR).

What Is Driving the Growth Trajectory of the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
The escalation of the construction industry is predicted to spur on the expansion of the glass fiber-reinforced plastic (GFRP) composite market in the future. The term 'construction industry' encompasses all initiatives involved in the creation and assembly of infrastructure and edifices. Urban expansion triggers construction endeavors as growing city populations necessitate the development of new residential areas, infrastructure, and business spaces, thus keeping construction projects active. Glass fiber reinforced plastic (GFRP) composites are light, robust materials that resist corrosion and improve the structural life. These substances significantly reinforce concrete, boost design versatility, and eliminate rust and electromagnetic disturbance. For example, as per the Office for National Statistics, a governmental department based in the UK, the annual construction yield witnessed a rise of 5.6% in 2022 as compared to 2021, after a record escalation of 12.8% in 2021. Consequently, the flourishing construction industry is catalyzing the expansion of the glass fiber reinforced plastic (GFRP) composites market.

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Which Leading Companies Are Shaping the Growth of the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
Major companies operating in the glass fiber reinforced plastic (GFRP) composites market are Reliance Industries, Mitsubishi Chemical Group Corporation, Asahi Kasei Corporation, Toray Industries Inc., Owens Corning, Celanese Corporation, Huntsman International LLC, Hexcel Corporation, SGL Carbon SE, Saint-Gobain Group, Röchling SE & Co. KG, 3B-the Fiberglass Company, Pultrall Inc., Advanced Composites Inc., Jiuding New Material Co. Ltd., Tuf-Bar Inc., Tribeni Fiber Pvt Ltd., Stromberg Architectural, Everest Composites Pvt. Ltd., RG Fibrotech Private Limited, Chongqing Dujiang Composites Co. Ltd.

Which Key Developments Are Influencing the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
Leading firms in the glass fiber reinforced plastic (GFRP) composites market are pioneering innovative solutions for GFRP recycling technology. Their goal is to amplify sustainability and mitigate environmental footprints. GFRP recycling technology aspires to salvage and repurpose glass fibers extracted from discarded GFRP materials. It caters to environmental issues by facilitating efficient recycling procedures for both fibers and resins. For example, Toray Industries Inc., a textile company based in Japan, rolled out Glass fiber-reinforced polyphenylene sulfide (GFRP-PPS) recycling technology in October 2023. This technology maintains the same mechanical robustness as raw PPS, even with a recycled content of 50% or above. It utilizes proprietary amalgamation methods to fuse PPS resin with specific reinforcement fibers, thereby curtailing glass fiber reduction and fragmentation during the recycling process. The technology further reduces CO2 emissions by a minimum of 40%. Owing to its excellent heat and chemical resistance, it is ideal for diverse industrial applications, including electronic components and electric vehicle parts.

What Are the Key Segments of the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
The glass fiber reinforced plastic (GFRP) composites market covered in this report is segmented -

1) By Resin Type: Thermoplastic; Polyurethane; Polyester; Epoxy; Vinyl Ester; Other Resin Types
2) By Glass Type: S-Glass; C-Glass; E-Glass; Other Glass Types
3) By Manufacturing Process: Compression Molding; Injection Molding; Layup; Filament Winding; Pultrusion; Resin Transfer Molding (RTM) And Vacuum-Assisted Resin Transfer Molding (VARTM); Other Manufacturing Processes
4) By End-User: Transportation; Renewable Energy; Electric And Electronics; Military And Defense; Telecommunication; Building And Construction; Other End-Users

Subsegments:
1) By Thermoplastic: Polypropylene (PP); Polyamide (PA); Polyethylene (PE); Polyvinyl Chloride (PVC); Acrylonitrile Butadiene Styrene (ABS)
2) By Polyurethane: Rigid Polyurethane Composites; Flexible Polyurethane Composites; Polyurethane Foam Composites
3) By Polyester: Unsaturated Polyester Resin (UPR); Isophthalic Polyester; Orthophthalic Polyester
4) By Epoxy: Bisphenol-A (BPA) Epoxy Resin; Novolac Epoxy Resin; Specialty Epoxy Resin For Composites
5) By Vinyl Ester: Standard Vinyl Ester Resin; Specialty Vinyl Ester Resin; Vinyl Ester Resin For Corrosion Resistance
6) By Other Resin Types: Phenolic Resin; Bismaleimide (BMI) Resin; Polyimide Resin; Cyanate Ester Resin

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Which Region Dominates the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
Asia-Pacific was the largest region in the glass fiber reinforced plastic (GFRP) composites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glass fiber reinforced plastic (GFRP) composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Glass Fiber Reinforced Plastic (GFRP) Composites Global Market Report?

- Market Size Analysis: Analyze the glass fiber reinforced plastic (gfrp) composites Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the glass fiber reinforced plastic (gfrp) composites Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall glass fiber reinforced plastic (gfrp) composites market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the glass fiber reinforced plastic (gfrp) composites market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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