The global glass fiber reinforced plastics (GFRP) composites market was valued at $19.8 billion in 2022, and is projected to reach $37.2 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
Glass fiber reinforced plastic composites, commonly known as fiberglass composites, represent a class of materials composed of a polymer matrix reinforced with glass fibers. These composites are vital in a variety of sectors because of their outstanding strength, durability, and adaptability. Glass fibers, which are thin strands made from melted glass, are mixed with a polymer like epoxy, polyester, or vinyl ester resin to create these composites. This combination results in a material with remarkable properties, blending the lightweight nature of polymers with the high strength-to-weight ratio of glass fibers. This composite has several applications including aerospace and automotive, as well as construction, marine, sports equipment, and consumer goods. The unique properties of fiberglass composites, including corrosion resistance, electrical insulation, and thermal stability, contribute to their widespread use and the continued search for innovative solutions in a wide range of sectors.
The increasing focus on sustainable and eco-friendly materials is driving the demand for GFRP composites. Tightening regulations and environmental concerns prompt the search for materials that are recyclable and environmentally conscious. Ongoing research aims to improve the recyclability of composite materials, thereby enhancing the sustainability profile of GFRP composites. The development of recyclable GFRP composites would mark a significant advancement, fostering growth opportunities in industries striving for environmentally friendly solutions. Governments and regulatory bodies globally are imposing stricter regulations aimed at reducing carbon emissions, promoting recycling, and improving resource efficiency. GFRP composites, with their potential for recyclability and lower carbon footprint compared to certain conventional materials, are increasingly sought after to meet these stringent regulatory requirements.
The increasing focus on sustainable and eco-friendly materials is driving the demand for GFRP composites. Tightening regulations and environmental concerns prompt the search for materials that are recyclable and environmentally conscious. Ongoing research aims to improve the recyclability of composite materials, thereby enhancing the sustainability profile of GFRP composites. The development of recyclable GFRP composites would mark a significant advancement, fostering growth opportunities in industries striving for environmentally friendly solutions. Governments and regulatory bodies globally are imposing stricter regulations aimed at reducing carbon emissions, promoting recycling, and improving resource efficiency. GFRP composites, with their potential for recyclability and lower carbon footprint compared to certain conventional materials, are increasingly sought after to meet these stringent regulatory requirements.
Technological advancements in glass fiber reinforced plastic (GFRP) composites have propelled significant innovations, revolutionizing their manufacturing, properties, and applications. Advanced manufacturing techniques have streamlined the production processes of GFRP composites, enabling precision and efficiency in creating complex components. Methods such as automated fiber placement, resin transfer molding, and additive manufacturing have optimized production, reduced costs, and facilitated the fabrication of intricate and tailored composite parts for diverse industries. Ongoing research focuses on developing innovative resin formulations and reinforcing fibers for GFRP composites. These advancements aim to enhance mechanical strength, durability, thermal stability, and resistance to environmental factors. Moreover, the integration of nanotechnology into GFRP composites offers opportunities to further augment their properties, introducing functionalities like increased strength, conductivity, or enhanced performance tailored to specific industry needs. Efforts in recycling technologies enable the efficient reuse of GFRP materials, minimizing waste and extending the material's lifecycle.
The glass fiber reinforced plastics (GFRP) composites market is segmented based on resin type, process, end-use industry, and region. By type, the market is divided into polyester resin, vinyl ester resin, epoxy resin, polyurethane resin, and others. Based on the process, it is categorized into manual process, continuous process, compression molding, and injection molding. Depending on the end-use industry, the market is segregated into aerospace and defense, construction, wind energy, automotive, electrical and electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global glass fiber reinforced plastics (GFRP) composites market are 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, and Mitsubishi Chemical Group Corporation. Other players include SGL Carbon, alformet, Röchling, Amiblu Holding GmbH, Chomarat Group, Saint Gobain Vetrotex, Honeywell International Inc., BASF SE, Reliance Industries Ltd., Advanced Composites Inc., Braj Binani Group, and BGF Industries Inc.
Glass fiber reinforced plastic composites, commonly known as fiberglass composites, represent a class of materials composed of a polymer matrix reinforced with glass fibers. These composites are vital in a variety of sectors because of their outstanding strength, durability, and adaptability. Glass fibers, which are thin strands made from melted glass, are mixed with a polymer like epoxy, polyester, or vinyl ester resin to create these composites. This combination results in a material with remarkable properties, blending the lightweight nature of polymers with the high strength-to-weight ratio of glass fibers. This composite has several applications including aerospace and automotive, as well as construction, marine, sports equipment, and consumer goods. The unique properties of fiberglass composites, including corrosion resistance, electrical insulation, and thermal stability, contribute to their widespread use and the continued search for innovative solutions in a wide range of sectors.
The increasing focus on sustainable and eco-friendly materials is driving the demand for GFRP composites. Tightening regulations and environmental concerns prompt the search for materials that are recyclable and environmentally conscious. Ongoing research aims to improve the recyclability of composite materials, thereby enhancing the sustainability profile of GFRP composites. The development of recyclable GFRP composites would mark a significant advancement, fostering growth opportunities in industries striving for environmentally friendly solutions. Governments and regulatory bodies globally are imposing stricter regulations aimed at reducing carbon emissions, promoting recycling, and improving resource efficiency. GFRP composites, with their potential for recyclability and lower carbon footprint compared to certain conventional materials, are increasingly sought after to meet these stringent regulatory requirements.
The increasing focus on sustainable and eco-friendly materials is driving the demand for GFRP composites. Tightening regulations and environmental concerns prompt the search for materials that are recyclable and environmentally conscious. Ongoing research aims to improve the recyclability of composite materials, thereby enhancing the sustainability profile of GFRP composites. The development of recyclable GFRP composites would mark a significant advancement, fostering growth opportunities in industries striving for environmentally friendly solutions. Governments and regulatory bodies globally are imposing stricter regulations aimed at reducing carbon emissions, promoting recycling, and improving resource efficiency. GFRP composites, with their potential for recyclability and lower carbon footprint compared to certain conventional materials, are increasingly sought after to meet these stringent regulatory requirements.
Technological advancements in glass fiber reinforced plastic (GFRP) composites have propelled significant innovations, revolutionizing their manufacturing, properties, and applications. Advanced manufacturing techniques have streamlined the production processes of GFRP composites, enabling precision and efficiency in creating complex components. Methods such as automated fiber placement, resin transfer molding, and additive manufacturing have optimized production, reduced costs, and facilitated the fabrication of intricate and tailored composite parts for diverse industries. Ongoing research focuses on developing innovative resin formulations and reinforcing fibers for GFRP composites. These advancements aim to enhance mechanical strength, durability, thermal stability, and resistance to environmental factors. Moreover, the integration of nanotechnology into GFRP composites offers opportunities to further augment their properties, introducing functionalities like increased strength, conductivity, or enhanced performance tailored to specific industry needs. Efforts in recycling technologies enable the efficient reuse of GFRP materials, minimizing waste and extending the material's lifecycle.
The glass fiber reinforced plastics (GFRP) composites market is segmented based on resin type, process, end-use industry, and region. By type, the market is divided into polyester resin, vinyl ester resin, epoxy resin, polyurethane resin, and others. Based on the process, it is categorized into manual process, continuous process, compression molding, and injection molding. Depending on the end-use industry, the market is segregated into aerospace and defense, construction, wind energy, automotive, electrical and electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global glass fiber reinforced plastics (GFRP) composites market are 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, and Mitsubishi Chemical Group Corporation. Other players include SGL Carbon, alformet, Röchling, Amiblu Holding GmbH, Chomarat Group, Saint Gobain Vetrotex, Honeywell International Inc., BASF SE, Reliance Industries Ltd., Advanced Composites Inc., Braj Binani Group, and BGF Industries Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the glass fiber reinforced plastics (gfrp) composites market analysis from 2022 to 2032 to identify the prevailing glass fiber reinforced plastics (gfrp) composites market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the glass fiber reinforced plastics (gfrp) composites market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global glass fiber reinforced plastics (gfrp) composites market trends, key players, market segments, application areas, and market growth strategies.
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- Analysis of raw material in a product (by %)
- Manufacturing Capacity
- Investment Opportunities
- Product Life Cycles
- Supply Chain Analysis & Vendor Margins
- Upcoming/New Entrant by Regions
- Technology Trend Analysis
- Consumer Preference and Product Specifications
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- Market share analysis of players at global/region/country level
- Product Consumption Analysis
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Resin Type
- Polyester resin
- Vinyl ester resin
- Epoxy resin
- Polyurethane resin
- Others
By Process
- Manual process
- Continuous process
- Compression molding
- Injection molding
By End Use Industry
- Aerospace and defense
- Construction
- Wind energy
- Automotive
- Electrical and electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Owens Corning
- Johns Manville
- 3B - the fibreglass company
- Sancom Composites LLP
- Celanese Corporation
- Nippon Sheet Glass Co., Ltd
- Mitsubishi Chemical Group Corporation
- Asahi Kasei Corporation
- PPG Industries, Inc.
- Nitto Boseki Co., Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLASS FIBER REINFORCED PLASTICS (GFRP) COMPOSITES MARKET, BY RESIN TYPE
CHAPTER 5: GLASS FIBER REINFORCED PLASTICS (GFRP) COMPOSITES MARKET, BY PROCESS
CHAPTER 6: GLASS FIBER REINFORCED PLASTICS (GFRP) COMPOSITES MARKET, BY END USE INDUSTRY
CHAPTER 7: GLASS FIBER REINFORCED PLASTICS (GFRP) COMPOSITES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Owens Corning
- Johns Manville
- 3B - the fibreglass company
- Sancom Composites LLP
- Celanese Corporation
- Nippon Sheet Glass Co., Ltd
- Mitsubishi Chemical Group Corporation
- Asahi Kasei Corporation
- PPG Industries, Inc.
- Nitto Boseki Co., Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | December 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 19.8 billion |
| Forecasted Market Value ( USD | $ 37.2 billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
