Glass Fiber Reinforced Plastics (GFRP) Composites Market 2026-2032: Revealing Growth Trends and Recent Updates

According to a report published by Allied Market Research, titled "Glass Fiber Reinforced Plastic (GFRP) Composites Market by Resin Type, Process, and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2022-2032," the global GFRP composites market was valued at $19.8 billion in 2022 and is projected to reach $37.2 billion by 2032, registering a CAGR of 6.5% from 2023 to 2032.

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Key Growth Drivers

The market is witnessing steady growth driven by the rising adoption of lightweight and high-strength materials, particularly in the aerospace and automotive industries, along with an increasing emphasis on sustainable and eco-friendly materials. However, recycling challenges and sustainability concerns related to composite materials continue to restrain market expansion. On the positive side, technological advancements in GFRP manufacturing and processing techniques are expected to create lucrative growth opportunities.

Impact of the Russia-Ukraine War:

The Russia-Ukraine conflict has disrupted the GFRP composites market by triggering raw material and energy price volatility, increasing manufacturing costs, and creating supply chain uncertainties. Trade restrictions, infrastructure damage, and export limitations on high-performance composites have further impacted production and distribution, potentially leading to shortages and higher prices across industries.

Segment Insights:-

By Resin Type:

The epoxy resin segment dominated the market in 2022, accounting for nearly one-fifth of total revenue, owing to its superior mechanical strength, excellent adhesion, low shrinkage, and corrosion resistance.

The vinyl ester resin segment is expected to grow at the fastest CAGR of 7.0%, driven by its exceptional corrosion resistance, thermal stability, and widespread use in marine, automotive, and construction applications.

By Process:

Compression molding led the market in 2022, contributing more than two-fifths of total revenue, due to its cost-effectiveness, high production efficiency, and suitability for complex, high-strength components.

The continuous process segment is projected to grow at the highest CAGR of 6.9%, supported by increasing demand for uniform, high-performance composite structures.

By End-Use Industry:

The automotive segment held the largest share in 2022, fueled by the need for lightweight materials that improve fuel efficiency and reduce emissions.

The aerospace and defense segment is anticipated to grow at the fastest CAGR of 7.2%, owing to rising demand for lightweight, durable, and impact-resistant materials in aircraft and defense equipment.

Regional Outlook:

The Asia-Pacific region dominated the global GFRP composites market in 2022, accounting for nearly half of total revenue, and is expected to maintain its leadership through 2032. Rapid industrialization, expanding construction activities, strong automotive production, and growing investments in renewable energy-particularly wind power-are driving regional demand, especially in China and India.

Key Market Players:-

Prominent companies operating in the global GFRP composites market include:

- Owens Corning
- Johns Manville
- Sancom Composites LLP
- Asahi Kasei Corporation
- PPG Industries, Inc.
- 3B - The Fibreglass Company
- Nippon Sheet Glass Co., Ltd.
- Nitto Boseki Co., Ltd.
- Celanese Corporation
- Mitsubishi Chemical Group Corporation

These players are actively pursuing product innovations, expansions, collaborations, and strategic agreements to strengthen their market presence and gain a competitive edge.

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