Market Size of Glass Fiber Reinforced Polymer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Glass Fiber Reinforced Polymers Market Analysis
The market for glass fiber reinforced polymer is expected to grow at a CAGR of more than 4% during the forecast period. major factors driving the market studied growing construction activities in the Middle East & Africa
- Increasing Application in Marine Industry and Rising Demand for Wind Energy Composites is likely to act as an opportunity for the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Glass Fiber Reinforced Polymers Industry Segmentation
The glass fiber reinforced polymer market report includes:
| Resin Type | |
| Polyester | |
| Vinyl Ester | |
| Epoxy | |
| Polyurethane | |
| Other Resin Types (PEEK Resin, Phenolic Resin, etc.) |
| Process | ||||
| Manual Process | ||||
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| Continuous Process | ||||
| Injection Molding |
| End-User Industry | |
| Energy | |
| Automotive | |
| Marine | |
| Construction and Infrastructure | |
| Electrical and Electronics | |
| Aerospace and Defense | |
| Other End-User Industries (Healthcare, Consumer Goods) |
| Geography | |||||||
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Glass Fiber Reinforced Polymer Market Size Summary
The glass fiber reinforced polymer (GFRP) market is poised for significant growth, driven by increasing construction activities, particularly in the Middle East and Africa. The material's application in non-structural elements like facades and panels makes it a preferred choice in the construction industry. The Asia-Pacific region, with countries such as India and China, leads in consumption due to rapid urbanization and infrastructure development. Initiatives like India's Smart City Project and Saudi Arabia's Vision 2030 are expected to further boost demand. Additionally, events like the Dubai Expo and the FIFA World Cup in Qatar are anticipated to enhance market opportunities. The marine industry and the rising demand for wind energy composites also present promising prospects for GFRP.
China's robust automotive and electronics sectors contribute significantly to the GFRP market. The country's focus on electric vehicles and infrastructure development, including extensive transportation projects, is set to drive market demand. China's commitment to increasing wind power capacity further supports this growth. The GFRP market is characterized by partial fragmentation, with key players such as BASF SE, Advanced Composites Inc., and PPG Industries Inc. actively participating. These companies, along with others like Reliance Industries Ltd and Nippon Electric Glass Co., Ltd., are instrumental in shaping the market landscape during the forecast period.
Glass Fiber Reinforced Polymer Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Construction Activities in Middle East & Africa
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 High Recyclability Issues
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Resin Type
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2.1.1 Polyester
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2.1.2 Vinyl Ester
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2.1.3 Epoxy
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2.1.4 Polyurethane
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2.1.5 Other Resin Types (PEEK Resin, Phenolic Resin, etc.)
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2.2 Process
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2.2.1 Manual Process
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2.2.2 Compression Molding
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2.2.2.1 Sheet Molding Compound Process
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2.2.2.2 Glass Mat Thermoplastic Process
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2.2.3 Continuous Process
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2.2.4 Injection Molding
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2.3 End-User Industry
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2.3.1 Energy
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2.3.2 Automotive
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2.3.3 Marine
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2.3.4 Construction and Infrastructure
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2.3.5 Electrical and Electronics
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2.3.6 Aerospace and Defense
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2.3.7 Other End-User Industries (Healthcare, Consumer Goods)
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 France
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2.4.3.4 Italy
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East & Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle East & Africa
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Glass Fiber Reinforced Polymer Market Size FAQs
What is the current Glass Fiber Reinforced Polymer Market size?
The Glass Fiber Reinforced Polymer Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Glass Fiber Reinforced Polymer Market?
BASF SE, Advanced Composites Inc., PPG Industries Inc, Reliance Industries Ltd and Nippon Electric Glass Co.,Ltd. are the major companies operating in the Glass Fiber Reinforced Polymer Market.
