Glass Fiber Reinforced Plastic (GFRP) Composites Market Anticipated To Witness Robust Growth, Surpassing 37.97 Billion By 2029

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What Is the Current Glass Fiber Reinforced Plastic (GFRP) Composites Market Size and Its Estimated Growth Rate?
In recent times, the market size for glass fiber reinforced plastic (GFRP) composites has experienced a robust growth. The market value is expected to surge from $26.15 billion in 2024 to $28.23 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%. The significant growth during the historic period is largely due to factors such as greater investment in infrastructure, intensified focus on sustainability, ramped up research and development initiatives, increased utilization of eco-friendly materials, and the expansion of the wind energy sector.

Predictions indicate a robust expansion in the glass fiber reinforced plastic (GFRP) composites market in the coming years, with its worth anticipated to reach $37.97 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.7%.This growth during the forecasted period is thanks to several factors including the burgeoning automotive industry, advancements in infrastructure, developments in the electrical and electronics sectors, a shift from metal towards composite materials, and considerable government investments in the renewable energy sector. The forecast period also expects to see certain dominant trends such as the creation of high-performing resins, the use of automation and robotics in manufacturing, real-time quality control systems, improved fiber reinforcement, and the incorporation of augmented reality (AR).

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How Are Emerging Segments Shaping the Glass Fiber Reinforced Plastic (GFRP) Composites Market Landscape?
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 Growth Factors Are Influencing Glass Fiber Reinforced Plastic (GFRP) Composites Market Expansion?
The expansion of the construction sector is anticipated to drive the growth of the glass fiber-reinforced plastic (GFRP) composite market. The said industry involves the building and establishment of infrastructures and buildings. As cities expand due to increasing urbanization, the need for construction increases in response to the demand for new housing, infrastructure, and commercial spaces. Glass fiber reinforced plastic (GFRP) composites, known for their light weight, durability, and resistance to corrosion, can lengthen the structural lifespan, strengthen concrete, provide design versatility, and prevent rust and electromagnetic interference. The Office for National Statistics, a government department in the UK, stated that in February 2023, the annual construction output saw a rise of 5.6% in 2022 compared to 2021, which followed a record increase of 12.8% in 2021. As such, the thriving construction sector is fueling the expansion of the glass fiber reinforced plastic (GFRP) composites market.

Who Are the Dominant Players Across Different Glass Fiber Reinforced Plastic (GFRP) Composites Market Segments?
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.

What Are the Latest Developing Trends in the Acne Treatment Devices Market?
Leading enterprises in the glass fiber reinforced plastic (GFRP) composites market are innovating with advanced solutions for GFRP recycling technology, aiming to strengthen their environmental sustainability efforts and minimize their impact on the environment. The target of GFRP recycling technology is to salvage and reuse glass fibers from the discarded GFRP items, addressing eco-friendly concerns by facilitating effective recycling of both fibers and resins. For instance, in October 2023, Japan's Toray Industries Inc., a prominent player in the textiles sector, unveiled their recycled Glass fiber-reinforced polyphenylene sulfide (GFRP-PPS) technology. This technology offers comparable mechanical strength to that of new PPS, incorporating 50% or more of the recycled content. Employing their exclusive compounding techniques, they merge PPS resin with certain reinforcing fibers, thereby decreasing glass fiber breakage and shortening during the recycling process. Additionally, the product reduces CO2 emissions by a significant 40 percent. Its excellent heat and chemical resilience make it a befitting choice for various industry uses, like electronic components and parts for electric vehicles.

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Which Geographic Regions Are Expected to Dominate the Glass Fiber Reinforced Plastic (GFRP) Composites Market in the Coming Years?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
2. What is the CAGR expected in the Glass Fiber Reinforced Plastic (GFRP) Composites Market?
3. What Are the Key Innovations Transforming the Glass Fiber Reinforced Plastic (GFRP) Composites Industry?
4. Which Region Is Leading the Glass Fiber Reinforced Plastic (GFRP) Composites Market?

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