Glass Fiber Reinforced Plastic Market | Leading Segments, Trends, Drivers and Challenges
Compagnie de Saint-Gobain SA, Nippon Electric Glass Co. Ltd. and Sinoma Science & Technology Co. Ltd. are among the key competitors.
Accelerating at a CAGR of 4.35%, the Global Glass fiber reinforced plastic market is expected to grow by $ 7.68 bn during the forecast period. Our research report offers growth projections of all the market segments, along with an in-depth analysis of all the factors that are likely to boost growth. This research also delves deep into issues that are likely to challenge market growth. This detailed analysis of the market will facilitate clients in planning a business strategy for the growth of their business in the post-pandemic era.
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Glass Fiber Reinforced Plastic Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented by Application (construction, transportation, electrical and electronics, sports and leisure goods, and others) and Geography (APAC, Europe, North America, South America, and MEA).
- Growth by the construction sector will be significant as GFRP is widely used in construction and associated applications such as mesh fabrics, drywall tapes, wall covering, and roof panels.
- 43% of the market growth will originate from APAC during the forecast period. The increasing demand for GFRP in construction, transportation, and electronics and electrical industries will facilitate the glass fiber reinforced plastic market growth in APAC. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Glass Fiber Reinforced Plastic Market size.
Glass Fiber Reinforced Plastic Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Increased use of GFRP in the construction industry will be a significant factor in driving the growth of the Glass Fiber Reinforced Plastic Market. Large-scale urbanization around the globe has driven the demand for urban residential developments. The rise in investments in residential real estate leads to an increase in the demand for GFRP. Moreover, with increasing disposable income and rising awareness about the benefits of GFRP pipes in the construction industry the GFRP market is estimated to grow significantly during the forecast period.
- Increasing adoption of GFRP composites in the transportation industry will be instrumental in driving the market growth during the forecast period.
- Availability of substitutes is a hurdle that needs to be crossed on the path to success. The rising demand for carbon, basalt, and natural fibers poses challenges to the global GFRP market. However, with the high cost of carbon fiber as compared to glass fiber, the cost-sensitive consumers would select GFRP over CFRP which slightly decreases the threat of substitutes to the market in focus.
Glass Fiber Reinforced Plastic Market: Vendor Analysis
- The market is fragmented.
- AGY Holding Corp., China Jushi Co. Ltd., Compagnie de Saint-Gobain SA, Nippon Electric Glass Co. Ltd., Owens Corning, PPG Industries Inc., Sinoma Science & Technology Co. Ltd., Taiwan Glass Ind. Corp., Yoshino Gypsum Co. Ltd., and Yunnan Phosphate Haikou Co. Ltd. are some of the major market participants.
- The unprecedented outbreak of COVID-19 in 2020 has had a significant impact on market segments had a ripple effect on various stakeholders. Our vendor analysis and insights will provide you with all the information required to make the most of the opportunities and plan business recovery and growth post the pandemic.
Key Areas Covered in our Report:
- Glass Fiber Reinforced Plastic Market Split by Application
- Construction
- Transportation
- Electrical and electronics
- Sports and leisure goods
- Others
- Glass Fiber Reinforced Plastic Market Split by Geography
- APAC
- Europe
- North America
- South America
- MEA
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- AGY Holding Corp.
- China Jushi Co. Ltd.
- Compagnie de Saint-Gobain SA
- Nippon Electric Glass Co. Ltd.
- Owens Corning
- PPG Industries Inc.
- Sinoma Science & Technology Co. Ltd.
- Taiwan Glass Ind. Corp.
- Yoshino Gypsum Co. Ltd.
- Yunnan Phosphate Haikou Co. Ltd.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 4.35%.
- What is the incremental growth of the market?
The market is expected to grow by $ 7.68 bn through 2022-2026.
- What is a key factor driving this market?
Increased use of GFRP in the construction industry will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
43% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are AGY Holding Corp., China Jushi Co. Ltd., Compagnie de Saint-Gobain SA, Nippon Electric Glass Co. Ltd., Owens Corning, PPG Industries Inc., Sinoma Science & Technology Co. Ltd., Taiwan Glass Ind. Corp., Yoshino Gypsum Co. Ltd., and Yunnan Phosphate Haikou Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by Application (construction, transportation, electrical and electronics, sports and leisure goods, and others) and Geography (APAC, Europe, North America, South America, and MEA)
