Global Glass Reinforced Plastic Market Analysis, Demand, and Growth Opportunities till 2026

New research report offers a comprehensive analysis of the “Glass Reinforced Plastic Market - Global Industry Analysis, Size, Growth, Trends, Share and Forecast 2017 - 2026“. The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Numerous fine glass filaments collectively form glass fiber. There are two essential types of it composite and insulated. It is mostly made of silica which with other materials is produced by melting, forming, and a staple process. Each glass fiber is fine with small diameter and they are thus woven to form a certain flexible fabric. The procedure is repeated so that several layers are formed and are thus kept to dry. The end material is known as glass reinforced plastic.

According to new report on glass reinforced plastic states that the global market is expected to witness stable growth over the course of the forecast period. The market research report presents a comprehensive analysis on the global market and also presents a trajectory pertaining to the growth of the market in terms of present, future, and historical analysis. The study further dwells on aspects such as drivers, inhibitors, and opportunities and discusses trends that are prevailing in the market. The report also highlights information on the companies operating in the market and presents forwards data such as product portfolio, company profile, competitive strategies, mergers, and acquisitions, along with other facts.

Assortment in surface, resistant to weather, quality and light weight properties of fiberglass have added to its developing interest in the specified divisions. There has additionally been a move in focal point of firms, investigating new roads for fiberglass use. Aside from infrastructure, requirement for clean energy and developing economies display new prospects for the growth of the market. Extension in the current years in the market has additionally made a request supply hole which should be filled utilizing options. Enhanced manufacturing procedures and new item improvement are wanted to infiltrate into soaked markets and venture into new ones. The growing application areas of glass reinforced plastic in several end use industries is expected to further trigger the growth of the global glass reinforced plastic market.

The global glass reinforced plastic market is expected to witness a CAGR of 4.6% as per value from 2017 to 2026. The market is projected to rise to a volume of approximately 14,699 tons.

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Asia Pacific excluding Japan to Surpass Other Regions

Regionally, the market has been segmented into North America, Latin America, Europe, Japan, Asia Pacific except Japan, and the Middle East and Africa. Amongst these, the market is expected to be led by APEJ by the end of the forecast period with a volume of 5, 163 tons. The leading position of APEJ can be attributed to the ongoing research and activities in the region the growing demand from several vertical industries. APEJ is anticipated to be closely trailed by Europe and North America in the same order. 

Automotive to Remain Leading End User

On the basis on end user, the global market has been classified into automotive, construction, electronics, sport, and other end use sectors. The demand for glass reinforced fiber is high from the automotive sectors, thus pushing it to the top of the list. It has been projected that automotive will remain the leading end user by the end of 2026.

Competitive Landscape

Some of the leading players in the market are Racolin Ltd., Gees Recycling Srl, Kolon Corporation, HLB Co., Ltd., Fibrelite Ltd., and PPG Industries, among several others. The players operating in this market are incessantly focusing on product development and are product differentiation in order to stay competent in the market.

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This release was published on openPR.