Lucintel's latest market report analyzed that glass fiber reinforced polymerprovides attractive opportunities in various end uses, including transportation, marine, wind energy, pipe and tank, construction, electrical and electronics, consumer goods, and aerospace. The GFRP market is expected to reach $61.3 billion by 2028 with a CAGR of 3.7%. In this market, transportation is the largest segment by end use, whereas UPR resin is largest by resin type. Low styrene content unsaturated polyester resin, increasing usage of ecofriendly unsaturated polyester resin, penetration of low dielectric glass fiber in high performance PCB, introduction of flat glass fiber, and development of high tensile strength and high tensile modulus glass fiber provides strategic growth path in this market.
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Based on end use, the GFRP market is segmented into transportation, marine, wind energy, pipe and tank, construction, electrical and electronics, consumer goods, and aerospace. The transportation segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, due to government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight.
Browse in-depth TOC on “GFRP Market”
137 – Tables
164 – Figures
339 – Pages
The GFRP Market is marked by the presence of several big and small players. Some of the prominent players offering GFRP include Owens Corning, Jushi Group Co., Ltd., Chongqing Polycomp International Corporation (CPIC), Taishan Fiberglass Inc., Nippon Electric Glass Co., Ltd., 3B-The Fibreglass Company (Goa Glass fiber), Johns Manville Corporation, Nitto Boseki Co., Ltd, BASF SE, Ashland LLC, Huntsman, Hexion, Polynt, Cytec Solvay Group, Celanese, SABIC, DuPont.
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