Composites and Advanced Materials

According to a new market report published by Lucintel, the future of the GFRP market looks promising with opportunities in various end uses, including transportation, marine, wind energy, pipe and tank, construction, electrical and electronics, consumer goods, and aerospace. The global GFRP market is expected to reach an estimated $53.5 billion by 2027 with a CAGR of 5.5% from 2021 to 2027.

The major drivers for growth in this market are due to the growth in the construction, wind energy, electrical and electronics, consumer goods, and others market.

In this market, UPR resin, vinyl ester resin, epoxy resin, PA resin, PP resin, and phenolic resin are the major resin type used in different end uses. Lucintel forecast that UPR resin will remain the largest segment by value and volume over the forecast period because it offers good mechanical and service properties, and have excellent thermal stability and weather resistance. Polypropylene resin is expected to witness highest growth over the forecast period.

Within the global GFRP market, transportation will remain the largest end use by value and value 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. Aerospace is expected to witness highest growth over the forecast period.

APAC is expected to remain the largest region by value and volume and it is also expected to experience the highest growth over the forecast period due to growth in construction, transportation, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.

Emerging trends, which have a direct impact on the dynamics of the industry, includes 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. Owens Corning, Jushi, Polynt, Nippon Electric Glass, and AOC are among the major suppliers of the GFRP market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global GFRP market by end use, resin type, manufacturing process, product type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global GFRP Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global GFRP market by end use, resin type, manufacturing process, product type, and region as follows:







































This 325-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/glass-fiber-reinforced-plastic-market.aspx or write us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high-growth opportunities for the global GFRP market by end use (transportation, marine, wind energy, pipe and tank, construction, electrical and electronics, consumer goods, and aerospace), resin type (UPR resin, vinyl ester resin, epoxy resin, PA resin, PP resin, phenolic resin, and other resins), product type (E/ECR-glass, S-glass, C-glass, and others (NE glass, R-glass, and T-Glass)), manufacturing process (hand lay-up, spray-up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay-up, and other manufacturing processes), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are emerging trends in this market and the reasons behind them?

Q.7 What are some changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?