Global Glass Fiber Reinforced Plastic Composites Market is expected to grow at a CAGR of 7.33% during the forecast period and is expected to reach US$ 102.53 Bn. by 2029.
Fiber Reinforced Plastic Composites Market Report Scope and Research Methodology
Maximize Market Research Pvt. Ltd., a leading global market research firm based in Pune, India, has published a comprehensive market research report on the Global Glass Fiber Reinforced Plastic Composites Market
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The report meticulously analyzes the impact of the COVID-19 pandemic on market leaders, followers, and disruptors. Given the diverse implementation of lockdown measures across regions and countries, the report provides insights into the varying effects on different market segments and regions. By covering both short-term and long-term impacts, this report equips decision-makers with valuable information to devise strategies that can navigate the challenges and opportunities that lie ahead for companies by region.
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What are Fiber Reinforced Plastic Composites Market Dynamics?
Glass fiber, renowned for its lightweight and durable properties, is a vital component in the composites industry. Compared to carbon fibers, glass fibers offer a unique combination of high strength, thermal efficiency, and reduced brittleness. Key players in sectors such as automotive, construction and infrastructure, and aerospace and defense are increasingly turning to composite materials that are lighter, cost-effective, and stronger. This shift is primarily driven by the automotive sector’s demand for enhanced fuel efficiency, achieved through weight reduction.
The market for glass fiber reinforced plastic composites is further categorized based on manufacturing processes, including compression and injection molding, filament winding, layup, pultrusion, resin transfer molding, and others. Among these, the compression and injection molding segment is anticipated to be a significant contributor during the forecast period, primarily due to its widespread preference in the production of composite materials.
The automobile industry is poised to hold a substantial share of the glass fiber reinforced plastic composites market. The increasing emphasis on reducing vehicle weight to improve fuel efficiency, performance, and overall efficiency is driving growth in this sector. Following closely is the aerospace and defense segment, which is also witnessing robust demand.
Within the resin type category, the polyester segment is expected to exhibit a high CAGR during the forecast period. The popularity of polyester can be attributed to its corrosion resistance and superior performance properties, making it a preferred matrix for glass fiber reinforced plastic composites in various applications such as automotive, aircraft, electronics components, railways, and more. Epoxy and polyurethane resins follow closely in the market.
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What is Fiber Reinforced Plastic Composites Market Regional Insight?
Geographically, Asia Pacific is poised to emerge as one of the largest markets for glass fiber reinforced plastic composites. This growth is driven by surging demand from countries like India and China, which are experiencing rapid industrialization and an increased appetite for environmentally friendly products.
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What is Fiber Reinforced Plastic Composites Market Segmentation?
by Resin Type
Polyester
Vinyl Ester
Epoxy
Polyurethane
Thermoplastics
Others
by Manufacturing Process
Compression & Injection Molding
Filament winding
Layup
Pultrusion
Resin transfer molding
Others
by End Use Industry
Automotive
Aerospace & Defense
Wind Energy
Electrical & Electronics
Construction & Infrastructure
Marine
Pipes & Tanks
Others
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Who are Fiber Reinforced Plastic Composites Market Key Players?
1. Huntsman Corporation (US)
2. Scott Bader (UK)
3. Gurit Holding (Switzerland)
4. Owens Corning (US)
5. CPIC (China)
6. Jushi Group (China)
7. PPG Industries (US)
8. Taishan Fiberglass (China)
Table of content for the Fiber Reinforced Plastic Composites Market includes:
- Fiber Reinforced Plastic Composites Market: Research Methodology
- Fiber Reinforced Plastic Composites Market: Executive Summary
- Market Overview and Definitions
- Introduction to the Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Fiber Reinforced Plastic Composites Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Offerings:
- Past Market Size and Competitive Landscape
- Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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