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What is the current market size and future outlook for the glass fiber reinforced plastic (gfrp) composites market?
The glass fiber reinforced plastic (GFRP) composites market size has grown strongly in recent years. It will grow from $26.15 billion in 2024 to $28.23 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increasing infrastructure investments, increasing sustainability focus, increasing research and development, increasing use of eco-friendly materials, and increasing the growing wind energy sector.
The glass fiber reinforced plastic (GFRP) composites market size is expected to see strong growth in the next few years. It will grow to $37.97 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to the expansion of the automotive industry, infrastructure development, growth in electrical and electronics sector, shift from metal to composite materials, and government investments in renewable energy. Major trends in the forecast period include the development of high-performance resins, automated and robotics manufacturing, real-time quality control systems, optimized fiber reinforcement, and integration of augmented reality (AR).
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How has the glass fiber reinforced plastic (gfrp) composites market evolved, and what factors have shaped its growth?
The growing construction industry is expected to propel the growth of the glass fiber-reinforced plastic (GFRP) composite market going forward. The construction industry refers to the activities involved in building and assembling infrastructure and buildings. Urbanization stimulates construction activities because expanding populations in cities create demand for new housing, infrastructure, and commercial spaces, which fuels ongoing construction projects. Glass fiber reinforced plastic (GFRP) composites are lightweight, durable materials, providing corrosion resistance and extending structural lifespan. The material reinforces concrete effectively, enhances design flexibility, and avoids rust and electromagnetic interference. For instance, in February 2023, according to the Office for National Statistics, a UK-based government department, annual construction output increased by 5.6% in 2022 compared to 2021, following a record rise of 12.8% in 2021. Therefore, the growing construction industry is driving the growth of the glass fiber reinforced plastic (GFRP) composites market.
What are the major segments of the glass fiber reinforced plastic (gfrp) composites market?
The glass fiber reinforced plastic (GFRP) composites market covered in this report is segmented –
1) By Resin Type: Thermoplastic; Polyurethane; Polyester; Epoxy; Vinyl Ester; Other Resin Types
2) By Glass Type: S-Glass; C-Glass; E-Glass; Other Glass Types
3) By Manufacturing Process: Compression Molding; Injection Molding; Layup; Filament Winding; Pultrusion; Resin Transfer Molding (RTM) And Vacuum-Assisted Resin Transfer Molding (VARTM); Other Manufacturing Processes
4) By End-User: Transportation; Renewable Energy; Electric And Electronics; Military And Defense; Telecommunication; Building And Construction; Other End-Users
Subsegments:
1) By Thermoplastic: Polypropylene (PP); Polyamide (PA); Polyethylene (PE); Polyvinyl Chloride (PVC); Acrylonitrile Butadiene Styrene (ABS)
2) By Polyurethane: Rigid Polyurethane Composites; Flexible Polyurethane Composites; Polyurethane Foam Composites
3) By Polyester: Unsaturated Polyester Resin (UPR); Isophthalic Polyester; Orthophthalic Polyester
4) By Epoxy: Bisphenol-A (BPA) Epoxy Resin; Novolac Epoxy Resin; Specialty Epoxy Resin For Composites
5) By Vinyl Ester: Standard Vinyl Ester Resin; Specialty Vinyl Ester Resin; Vinyl Ester Resin For Corrosion Resistance
6) By Other Resin Types: Phenolic Resin; Bismaleimide (BMI) Resin; Polyimide Resin; Cyanate Ester Resin
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Which companies dominate the glass fiber reinforced plastic (gfrp) composites market?
Major companies operating in the glass fiber reinforced plastic (GFRP) composites market areReliance Industries, Mitsubishi Chemical Group Corporation, Asahi Kasei Corporation, Toray Industries Inc., Owens Corning, Celanese Corporation, Huntsman International LLC, Hexcel Corporation, SGL Carbon SE, Saint-Gobain Group, Röchling SE & Co. KG, 3B-the Fiberglass Company, Pultrall Inc., Advanced Composites Inc., Jiuding New Material Co. Ltd., Tuf-Bar Inc., Tribeni Fiber Pvt Ltd., Stromberg Architectural, Everest Composites Pvt. Ltd., RG Fibrotech Private Limited, Chongqing Dujiang Composites Co. Ltd.
How will evolving trends contribute to the growth of the glass fiber reinforced plastic (gfrp) composites market?
Major companies operating in the glass fiber reinforced plastic (GFRP) composites market are developing advanced solutions in relation to glass fiber reinforced plastic (GFRP) recycling technology to enhance sustainability and reduce environmental impact. Glass fiber-reinforced plastic recycling technology aims to recover and reuse glass fibers from discarded GFRP materials, addressing environmental concerns by enabling the efficient recycling of both fibers and resins. For instance, in October 2023, Toray Industries Inc., a Japan-based textile industry company, launched Glass fiber-reinforced polyphenylene sulfide (GFRP-PPS) recycling technology. It has equivalent mechanical strength to virgin PPS, even with 50% or more recycled content. They use proprietary compounding techniques to combine PPS resin with specific reinforcing fibers, which reduces glass fiber shortening and breaking during recycling. The product also cuts CO2 emissions by at least 40 percent. Its outstanding heat and chemical resistance makes it suitable for various industrial applications, including electronic components and electric vehicle parts.
What are the key regional dynamics of the glass fiber reinforced plastic (gfrp) composites market, and which region leads in market share?
Asia-Pacific was the largest region in the glass fiber reinforced plastic (GFRP) composites market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glass fiber reinforced plastic (GFRP) composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Glass Fiber Reinforced Plastic (GFRP) Composites Market Report 2025 Offer?
The glass fiber reinforced plastic (gfrp) composites market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Glass Fiber Reinforced Plastic (GFRP), also known as fiberglass, is a composite material made of a polymer matrix reinforced with glass fibers. The polymer, usually an epoxy, polyester, or vinyl ester, acts as the binding matrix, while the glass fibers provide strength and stiffness. GFRP is widely used in various industries for applications requiring durability and a high strength-to-weight ratio.
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