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Report
Global Glass Fiber Reinforced Plastic Composite Material Market Report and Forecast 2024-2032
Market Report I 2023-12-15 I 196 Pages I EMR Inc.
Global Glass Fiber Reinforced Plastic Composite Material Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global glass fiber reinforced plastic composite material market is projected to grow at a CAGR of 6.30% between 2024 and 2032. Aided by the soaring demand from the automotive, construction, and aerospace sectors, coupled with the material's superior attributes such as strength, flexibility, and corrosion resistance, the market is expected to grow significantly by 2032.
Glass fiber reinforced plastic, a composite material made of a polymer matrix reinforced with glass fibers, has gained considerable traction in diverse industries, primarily due to its unparalleled mechanical strength, lightweight properties, and resistance to environmental factors. Moreover, the GFRP's adaptability in terms of design and moulding further accentuates its market appeal.
One of the dominant driving factors of the global glass fiber reinforced plastic composite material market growth is its increasing adoption in the automotive industry. As manufacturers are perpetually seeking ways to produce vehicles that are both fuel-efficient and environmentally friendly, there's been a notable shift towards lightweight materials. GFRP, with its weight-saving properties, facilitates improved fuel efficiency and reduced greenhouse gas emissions, making it an ideal choice in automobile manufacturing.
As per the glass fiber reinforced plastic composite material market analysis, in the realm of construction, GFRP is making significant inroads. With urbanisation on the rise, the need for durable and sustainable construction materials has never been more pronounced. GFRP, due to its resistance to corrosion and its longevity, has become a preferred choice for infrastructure projects, including bridges, water treatment plants, and commercial establishments.
The aerospace industry, renowned for its stringent standards, has also recognised the potential of GFRP. With its high strength-to-weight ratio, GFRP composites are increasingly used in aircraft components, offering benefits such as weight reduction, enhanced performance, and increased fuel efficiency and further add value to the glass fiber reinforced plastic composite material market size.
Apart from the aforementioned sectors, GFRP's intrinsic properties, such as its electrical insulation capability, are also boosting its uptake in the electrical and electronics industry. Its non-conductive nature makes it an essential material in electrical housings and other related applications. Additionally, ongoing research and technological advancements, focused on enhancing the properties of GFRP, are expected to pave the way for more innovations and expanded applications and propel the glass fiber reinforced plastic composite material market demand.
Market Segmentation
The market can be divided based on type, process, application, and region.
Market Breakup by Type
- Polyester
- Vinyl Ester
- Epoxy
- Polyurethane
- Others
Market Breakup by Process
- Polyurethane
- Compression Moulding
- Continuous Process
- Injection Moulding
Market Breakup by Application
- Automotive
- Aerospace and Defence
- Energy
- Construction and Infrastructure
- Electrical and Electronics
- Marine
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global glass fiber reinforced plastic composite material market. Some of the major players explored in the report by Expert Market Research are as follows:
- Owens Corning
- Saint-Gobain
- China Jushi Co., Ltd
- Nippon Sheet Glass Co., Ltd
- Asahi Kasei Corporation
- Nitto Boseki Co., Ltd.
- Taishan Fiberglass Inc. (CTG)
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Glass Fiber Reinforced Plastic Composite Material Market Analysis
8.1 Key Industry Highlights
8.2 Global Glass Fiber Reinforced Plastic Composite Material Historical Market (2018-2023)
8.3 Global Glass Fiber Reinforced Plastic Composite Material Market Forecast (2024-2032)
8.4 Global Glass Fiber Reinforced Plastic Composite Material Market by Type
8.4.1 Polyester
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Vinyl Ester
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Epoxy
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Polyurethane
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Glass Fiber Reinforced Plastic Composite Material Market by Process
8.5.1 Manual Process
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Compression Moulding
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Continuous Process
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Injection Moulding
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.6 Global Glass Fiber Reinforced Plastic Composite Material Market by Application
8.6.1 Automotive
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Aerospace and Defence
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Energy
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Construction and Infrastructure
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Electrical and Electronics
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
8.6.6 Marine
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2018-2023)
8.6.6.3 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Glass Fiber Reinforced Plastic Composite Material Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Glass Fiber Reinforced Plastic Composite Material Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Glass Fiber Reinforced Plastic Composite Material Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Glass Fiber Reinforced Plastic Composite Material Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Glass Fiber Reinforced Plastic Composite Material Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Mexico
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Argentina
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Glass Fiber Reinforced Plastic Composite Material Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profile
15.2.1 Owens Corning
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Saint-Gobain
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 China Jushi Co., Ltd
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Nippon Sheet Glass Co., Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Asahi Kasei Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Nitto Boseki Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Taishan Fiberglass Inc.(CTG)
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Glass Fiber Reinforced Plastic Composite Material Market: Key Industry Highlights, 2018 and 2032
2. Global Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Process (USD Million), 2018-2023
5. Global Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Process (USD Million), 2024-2032
6. Global Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Distribution Channels (USD Million), 2018-2023
9. Global Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Distribution Channels (USD Million), 2024-2032
10. Global Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Glass Fiber Reinforced Plastic Composite Material Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Glass Fiber Reinforced Plastic Composite Material Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Glass Fiber Reinforced Plastic Composite Material Market Structure
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