Press release
Global Glass Reinforced Plastic Market: APEJ Region Estimated to Lead in Terms of Volume during 2017 – 2026
Market Research Hub
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Geographically, the report has segmented the glass reinforced plastic market into North America, Middle East & Africa (MEA), Europe, Asia Pacific, and Latin America; the regions are examined in terms of revenue and volume generation along with the CAGR for the period from 2015 to 2025. Analysts believe that the market is expected to be led by APEJ by the end of the forecast period with a volume of 5, 163 tons.
Market Overview and Segmental Analysis
GRP is rapidly becoming one of the most popular construction materials in the world. It is increasing in popularity as a result of its durability, longevity and affordability. According to the latest findings, the global glass reinforced plastic market is expected to witness a CAGR of 4.6% as per value from 2017 to 2026. 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. Furthermore, the report also states that assortment in the surface, resistant to weather, quality and lightweight properties of fiberglass have added to its developing interest in the specified divisions.
As the report proceeds, the global market for glass reinforced plastic is largely studied on the basis of composite material type, manufacturing process and end-use. Major end-users of glass reinforced plastic include automotive, electronics, sport, construction and others. Among various end-user, 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.
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On the basis of manufacturing process, the report highlights SMC/BMC, resin transfer, open mould, continuous processing and others. By material type, the market has been classified into glass fiber, polyester, vinyl. And epoxy. Among these, the market is expected to be led by glass fiber owing to its easy availability.
The report also offers detailed analysis on the product and business strategy of the leading players in the market. It has been reported that the players operating in this market are incessantly focusing on product development and are product differentiation in order to stay competitive in the market. Some of the leading players in the market are Gees Recycling Srl, Racolin Ltd., Kolon Corporation, HLB Co., Ltd., Fibrelite Ltd., and PPG Industries.
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