Glass Fiber Reinforced Polymer Market Growth, Size, Trends, Share, Revenue and Future Outlook
Glass Fiber Reinforced Polymer Market Size- By Resin Type, By Process, By End User Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2024 | Report ID: CHEM2450 | Pages: 1 - 237 | Formats*: |
| Category : Chemical & Materials | |||
Glass Fiber Reinforced Polymer Market Introduction and Overview
According to SPER Market Research, the Global Glass Fiber Reinforced Polymer Market is estimated to reach USD 124.28 billion by 2033 with a CAGR of 6.76%.
The report includes an in-depth analysis of the Global Glass Fiber Reinforced Polymer Market, including market size and trends, product mix, applications, and supplier analysis. Glass fibers are used to strengthen a polymer matrix in Glass Fiber Reinforced Polymer (GFRP), a composite material. When combined with glass fibers, the polymer matrix—such as polyester or epoxy resin—provides a robust and flexible structure that is also resistant to corrosion. Because of its excellent strength-to-weight ratio, GFRP may be used in a variety of applications in place of more conventional materials like steel or aluminum. Furthermore, GFRP is almost seldom used in the construction of bridges while developing infrastructure. Because it is corrosion-resistant and lightweight, GFRP is a great substitute for conventional building materials. Glass fiber polymer (GFRP) reinforced bridge components have longer lifespans, need less maintenance, and have better corrosion resistance.
- May 2022: Glass fiber-reinforced PBT polymer LNP ELCRIN WF0061BiQ resin was introduced by SABMIC in May 2022. The new grade is the latest in SABIC's long range of chemically repurposed LNP ELCRIN iQ materials. In addition to improving circularity, these materials may be utilized to replace virgin PBT resins with drop-in alternatives. Applications for the LNP ELCRIN WF0061BiQ resin include computer fan housings, electrical connectors and enclosures, car seats, and other consumer electronics parts.
Market Opportunities and Challenges
Opportunities: Demand in the market is created by the growing demand in the automobile sector. GRP materials are being used more often in the car sector since they are lightweight and enhance fuel efficiency. GRP components are ideal for automotive applications such body panels, interiors, and structural elements because of its excellent strength-to-weight ratio, resistance to corrosion, and design flexibility. High strength and low weight, Because of their exceptional strength and low weight, glass fiber reinforced polymer (GFRP) materials are perfect for a wide range of applications where weight reduction is crucial, including the wind energy, automotive, and aerospace sectors. One major factor propelling the GFRP market is the need for strong, lightweight materials.
Challenges: Strong alternative items may make it more difficult for a market to expand. The need for glass fiber-reinforced polymers may decrease with the introduction of carbon fiber-reinforced polymers, which have the advantages of being lightweight, low-density, and highly conductive. Price volatility for raw materials: Variations in the cost of raw materials, such as resins and glass fibers, can affect how much GFRP products cost overall. For market participants, price volatility complicates long-term planning and has an impact on profit margins. Limited Recycling Options: Because of the composite's natural characteristics, it is challenging to recycle GFRP materials. The absence of effective recycling techniques limits the long-term application of GFRP and raises environmental issues.
Market Competitive Landscape
Key competitors in the glass fiber reinforced polymer market are engaged in fierce rivalry. To obtain a competitive advantage, well-known businesses in the industry concentrate on strategic initiatives including partnerships, mergers and acquisitions, and product developments. These businesses want to meet a wide range of client needs, increase their market presence, and diversify their product offerings. Furthermore, one important tactic used by market participants is funding research and development initiatives to create cutting-edge GFRP materials and production techniques. Key players are Advanced Composites Inc., BASF SE, BGF Industries Inc., Braj Binani Group, Celanese Corporation, China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Johns Manville, Nippon Electric Glass Co. Ltd., Ownes Corning.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Resin Type, By Process, By End User Industry. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Advanced Composites Inc., BASF SE, BGF Industries Inc., Braj Binani Group, Celanese Corporation, China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Johns Manville, Nippon Electric Glass Co. Ltd., Ownes Corning. |
COVID-19 Impact on Global Glass Fiber Reinforced Polymer Market
The market for glass fiber reinforced polymers was significantly impacted by the COVID-19 epidemic. Global supply systems were thrown off balance by the epidemic, which caused delays in manufacturing and a scarcity of raw materials. In spite of the difficulties, the market proved resilient and began to rebound. In the early stages of the pandemic, GFRP became less in demand in the construction industry as a result of the postponement of many construction projects. Sales in the automobile industry also declined as a result of temporary plant closures. The GFRP market had a brief setback as a result of these causes.
Key Target Audience:
- Construction Industry Professionals
- Automotive Manufacturers
- Aerospace and Defense Industry
- Renewable Energy Sector
- Marine Industry
- Sports and Leisure Equipment Manufacturers
- Electronics and Electrical Industry
- Healthcare Sector
- Academic and Research Institution
- Investors and Market Analysts
Our in-depth analysis of the Fiber Reinforced Polymer Market includes the following segments:
| By Resin Type: |
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| By Process: |
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| By End User Industry: |
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Key Topics Covered in the Report:
- Global Glass Fiber Reinforced Polymer Market Size (FY’2024-FY’2033)
- Overview of Global Glass Fiber Reinforced Polymer Market
- Segmentation of Global Glass Fiber Reinforced Polymer Market By Resin Type (Polyester, Vinyl Ester, Epoxy, Polyurethane, Other Resin ( PEEK Resin, Phenolic Resin))
- Segmentation of Global Glass Fiber Reinforced Polymer Market By Process (Manual Process, Compression Molding (Sheet Molding Compound Process, Glass Mat Thermoplastic Process), Continuous Process, Injection Molding)
- Segmentation of Global Glass Fiber Reinforced Polymer Market By End User Industry (Energy, Automotive, Marine, Construction and Infrastructure, Electrical and Electronics, Aerospace and Defense, Healthcare Consumer Goods)
- Statistical Snap of Global Glass Fiber Reinforced Polymer Market
- Expansion Analysis of Global Glass Fiber Reinforced Polymer Market
- Problems and Obstacles in Global Glass Fiber Reinforced Polymer Market
- Competitive Landscape in the Global Glass Fiber Reinforced Polymer Market
- Impact of COVID-19 and Demonetization on Global Glass Fiber Reinforced Polymer Market
- Details on Current Investment in Global Glass Fiber Reinforced Polymer Market
- Competitive Analysis of Global Glass Fiber Reinforced Polymer Market
- Prominent Players in the Global Glass Fiber Reinforced Polymer Market
- SWOT Analysis of Global Glass Fiber Reinforced Polymer Market
- Global Glass Fiber Reinforced Polymer Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Glass Fiber Reinforced Polymer Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Glass Fiber Reinforced Polymer Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Glass Fiber Reinforced Polymer Market
7. Global Glass Fiber Reinforced Polymer Market, By Resin Type (USD Million) 2020-2033
7.1. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Resin Type, 2020-20267.2. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Resin Type, 2027-20337.3. Polyester7.4. Vinyl Ester7.5. Epoxy7.6. Polyurethane7.7. Other Resin Types7.7.1 PEEK Resin7.7.2 Phenolic Resin
8. Global Glass Fiber Reinforced Polymer Market, By Process (USD Million)2020-2033
8.1. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Process, 2020-20268.2. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Process, 2027-20338.3. Manual Process8.4. Compression Molding
8.4.1 Sheet Molding Compound Process8.4.2 Glass Mat Thermoplastic Process
8.5 Continuous Process8.6 Injection Molding
9. Global Glass Fiber Reinforced Polymer Market, By End User Industry (USD Million)2020-2033
9.1. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By End User Industry, 2020-20269.2. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By End User Industry, 2027-20339.3. Energy9.4. Automotive9.5. Marine9.6. Construction and Infrastructure9.7. Electrical and Electronics9.8. Aerospace and Defense9.9. Healthcare Consumer Goods
10. Global Glass Fiber Reinforced Polymer Market Forecast, 2020-2033 (USD Million)
10.1. Global Glass Fiber Reinforced Polymer Market Size and Market Share
11. Global Glass Fiber Reinforced Polymer Market, By Region, 2020-2033 (USD Million)
11.1. Global Glass Fiber Reinforced Polymer Market Size and Market Share By Region (2020-2026)11.2. Global Glass Fiber Reinforced Polymer Market Size and Market Share By Region (2027-2033)11.3. Asia-Pacific11.3.1. Australia11.3.2. China11.3.3. India11.3.4. Japan11.3.5. South Korea11.3.6. Rest of Asia-Pacific11.4. Europe11.4.1. France11.4.2. Germany11.4.3. Italy11.4.4. Spain11.4.5. United Kingdom11.4.6. Rest of Europe11.5. Middle East and Africa11.5.1. Kingdom of Saudi Arabia11.5.2. United Arab Emirates11.5.3. Qatar11.5.4. South Africa11.5.5. Egypt11.5.6. Morocco11.5.7. Nigeria11.5.8. Rest of Middle East & Africa11.6. North America11.6.1. Canada11.6.2. Mexico11.6.3. United States11.7. Latin America11.7.1. Argentina11.7.2. Brazil11.7.3. Rest of Latin America
12. Company Profile
12.1. Advanced Composites Inc.12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. BASF SE12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. BGF Industries Inc.12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Braj Binani Group12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. Celanese Corporation12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. China Beihai Fiberglass Co. Ltd.12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. China Jushi Co. Ltd.12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Johns Manville12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Nippon Electric Glass Co. Ltd.12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. Owens Corning12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Glass Fiber Reinforced Polymer Market is projected to reach USD 124.28 billion by 2033, growing at a CAGR of 6.76% during the forecast period.
Glass Fiber Reinforced Polymer Market size from 2022. The Market is expected to reach USD 124.28 billion by 2033, at a CAGR of 6.76% during the forecast period.
Glass Fiber Reinforced Polymer Market CAGR of 6.76% during the forecast period.
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Glass Fiber Reinforced Polymer Market size is 124.28 billion from 2024 to 2033.
United States CMMS Software Market Segment is covered By Resin Type, By Process, By End User Industry..
The North America anticipated to have the highest market share in the Glass Fiber Reinforced Polymer Market.
"The key players in the market include Companies Covered Advanced Composites Inc., BASF SE, BGF Industries Inc., Braj Binani Group, Celanese Corporation, China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Johns Manville, Nippon Electric Glass Co. Ltd., Ownes Corning..
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including the wind energy, automotive, and aerospace sectors. One major factor propelling the GFRP market is the need for strong, lightweight materials.
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