GFRP Composites Market Global Trends and Forecast up to 2019

GFRP Composites Market Global Trends and Forecast up to 2019

Glass fiber is one of the most common reinforcing elements used in commercial and industrial composites. Glass fiber properties such as high strength, flexibility, durability, stability, light-weight, and resistance to heat, temperature, and moisture make glass fiber an essential raw material for GFRP Composites that are used in variety of applications. Glass fiber accounts for about 90% of the reinforcements used in composite consumption, globally. Most of the GFRP Composites are used in transportation and infrastructure & construction sectors. The demand for renewable energy, in the form of wind turbines, demand for light-weight fuel efficient aircrafts & cars, and the demand for GFRP pipe, tank and other corrosion resistant equipment are major drivers increasing its demand in the glass fiber reinforced plastic composites market during the coming years.

The global GFRP Composites market is dominated by Asia-Pacific and North America, accounting for 67% of the overall market in 2013. Country wise, China is the leading consumer of GFRP Composites products globally, and is also the largest supplier estimated to grow at a CAGR more than the global average, till 2019. China and India have enormous potential and are the fastest growing markets for GFRP Composites in the Asia-Pacific as well as globally. The U.S. and European countries are leading in research and development of high performance glass fiber products. Member countries of EU; Germany, France, Italy, U.K., and Spain are the key markets in the European GFRP composites market and constitute majority of the market size.

The transportation and aerospace & defense segments occupy the topmost positions in the glass fiber reinforced plastic composites market with 49% share by value in 2013; maximum growth is expected from wind energy and aerospace & defense segments in the near future. The light weight, strength, and corrosion resistant properties of glass fiber drive its growth in transportation, construction & infrastructure, electrical & electronics, consumer goods, marine, aerospace & defense, and wind energy segments. The factors responsible for the growing demand of glass fiber industry are the recovery in the global economy and improving prospects in various end-use markets. Since glass fiber composites are reliable, versatile, light weight, and cost-effective, the demand of GFRP Composites is higher. The enormous potential in the Asian countries, particularly China and India, is likely to foster further growth of the glass fiber market

The use of thermoplastic resin is slowly replacing the thermoset resin in the glass fiber reinforced plastic composites market because of low processing cycle, low fabrication cost, and excellent damage tolerance. The factors that drive the thermoplastic resins use are high impact strength, attractive surface finish, can be bonded to other thermoplastics, molded or shaped with reheat, and are recyclable. Polyester is the most widely used thermoset resin in composites due to its low-cost and easy to work-with characteristics. It is used in composites for marine, industrial tanks & pipes, marble counter tops, bath tubs, showers & spas, building panels & construction, surfboards, and recreational sporting goods. Fillers are used to modify or enhance properties of the composite such as thermal conductivity, electrical resistivity, friction, wear resistance, and flame resistance.

This report basically aims to estimate the growth trends for the global glass fiber reinforced plastic composites market for 2014 and to project the expected demand of the same by 2019. This market research study provides a detailed qualitative and quantitative analysis of the global GFRP Composites market. We have used various secondary sources such as encyclopedia, directories, magazines, and databases to identify and collect information useful for this extensive commercial study of the GFRP Composites market. The primary sources – experts from related industries and suppliers – have been interviewed to obtain and verify critical information as well as to assess the future prospects of GFRP Composites market.

Competitive scenarios of top players in the glass fiber reinforced plastic composites market have been discussed in the competitive landscape. We have also profiled the leading players of this industry with their recent developments and other strategic industry activities. These include: Owens Corning (U.S.), Jushi Group (China), Taishan Fiberglass Inc. (China), Chongqing Polycomp International Corp. CPIC (China), Saint-Gobain Vetrotex (France), Nippon Sheet Glass (Japan), and so on.

Scope of the report:
This research report categorizes the global market for Glass Fiber Reinforced Plastic (GFRP) Composites on the basis of raw materials, manufacturing processes, and applications by geography in terms of volume, value, and analyzing trends in each of the sub-markets.

On the basis of raw materials:The market for GFRP Composites is segmented by the types of raw material consumed such as glass fiber, resins and fillers. Resins material segment is further classified as thermoset and thermoplastic resins in the report with volume and value forecasts as well.

On the basis of manufacturing processes:The market is segmented on the basis of process used for manufacturing composites such as manual, compression, injection, and continuous processes. Each of the processes is further classified in detail in the report with value forecasts as well.

On the basis of applications:The glass fiber reinforced plastic composites market is segmented by application of products in various end use industries such as transportation, construction & infrastructure, electrical & electronics, consumer goods, pipe, tank & other corrosion resistant equipment, marine, aerospace & defense, wind energy, and others. Each of these products is further described in detail in the report with value forecasts as well.

On the basis of geography: The GFRP Composites market is segmented into key regions – North America, Europe, Asia-Pacific, and ROW, and for key countries within these regions. The Glass Fiber Reinforced Plastic Composites market by raw materials, manufacturing processes, and applications are estimated by volume as well as value.

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