Glass fiber-reinforced plastics (GFRP) are produced by the
fiber glass and are used widely in commercial and industrial applications due
to their lightweight and durability. They usually have high tensile strength
and flexibility as compared to the metals. These materials are widely used in
industries like aerospace, construction, automotive, marine, electrical and
others. Some of the leading key players profiled in this study: Few of the
major competitors currently working in global glass fiber-reinforced plastics
(GFRP) market are Owens Corning, JEC Group, PPG
Industries, Inc., Johns Manville, Saint-Gobain, AGY, Nippon Sheet Glass Co.,
Ltd, ASAHI FIBER GLASS Co., Ltd., Braj Binani Group, BGF Industries, Inc.,
Nitto Boseki Co., Ltd, PFG FIBER GLASS CORPORATION, Celanese Corporation,
SAERTEX GmbH & Co. KG, Reliance Industries Limited, Denka Company Limited,
RTP Company, Reinforced Plastic Industries, Aeron Composite Pvt. Ltd, FIBREX
and others.
Global glass fiber-reinforced plastics (GFRP) market is expected to rise from its initial
estimated value by registering a substantial CAGR of 6.70% in the forecast
period of 2019-2026. Rising installation of wind energy capacity is the major
factor for the growth of this market.
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Market Drivers:
·
Rising construction activities in developing
countries is driving the growth of this market
·
Increasing demand of GFRP in transportation
industry is another factor driving the market growth
·
Growing number of wind energy capacity
installations will drive the market growth
·
Rising usage of
GFRP composite pipes in sewage & water management will also
accelerate the growth of the market
Market Restraints:
·
High production cost is restraining the growth
of this market
·
Increasing recyclability issue is another factor
restraining the market growth
Key Developments in
the Market:
·
In February 2019, SABIC announced the launch of
their Stamax Stadeck which is specially designed for building and construction
market. They are lighter than the wooden planks and have high durability. They
are constructed in such a way that these panels can stay outdoors for long
periods without rotting or corroding. They are very suitable for fencing,
sheathing, decking, wheel chair ramps among others
·
In July 2017, Owens Corning Infrastructure
Solutions announced that they have acquired Aslan FRP. This acquisition will
help the company to expand themselves globally and to add new products and
solutions through which they can upgrade the performance of concrete
structures. It is lighter-weight and is more corrosion-resistant than
conventional steel reinforcements
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Segmentation: Global
Glass Fiber-reinforced Plastics (GFRP) Market
Global Glass Fiber-reinforced Plastics (GFRP) Market By Resin Type (Polyester, Vinyl Ester,
Epoxy, Polyurethane, Thermoplastic, Others)
End- User (Wind
Energy, Electrical & Electronics, Transportation, Pipes & Tanks,
Construction & Infrastructure, Marine, Aerospace & Defense, Other
End-Use Industries)
Manufacturing Process
(Compression & Injection Molding Process, Layup, Filament Winding,
Pultrusion, Resin Transfer Molding (RTM), Other Manufacturing Processes)
Process (Manual,
Continuous, Compression Molding, Injection Molding)
Form (Rebar,
Powder, Sheet, Panel, Rolls, Others)
Geography (North
America, South America, Europe, Asia-Pacific, Middle East and Africa) –
Industry Trends and Forecast to 2026
Competitive Analysis:
Global glass fiber-reinforced plastics (GFRP) market is
highly fragmented and the major players have used various strategies such as
new product launches, expansions, agreements, joint ventures, partnerships,
acquisitions, and others to increase their footprints in this market. The
report includes market shares of glass fiber-reinforced plastics (GFRP) market
for Global, Europe, North America, Asia-Pacific, South America and Middle East
& Africa.
Key Insights in the
report:
·
Complete and distinct analysis of the market
drivers and restraints
·
Key market players involved in this industry
·
Detailed analysis of the market segmentation
·
Competitive analysis of the key players involved
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