Glass Fiber Reinforced Plastic Composites Market is expected to reach USD XX Billion by 2027 from USD 47.09 Billion in 2019 at a CAGR of XX%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Glass fiber is a lightweight and durable fiber that are manufactured from very fine fibers of glass. As compared to carbon fibers, glass fibers offers high strength, thermal efficiency and low brittleness. Key players across the automotive, construction & infrastructure and aerospace & defence segments are likely to utilize composite materials that are lighter, cheaper and stronger. Escalating demand from the automotive sector as it helps to enhance fuel efficiency in vehicles due reduced weight.
Glass fiber reinforced plastic composites market based on manufacturing processes has been segmented into compression & injection molding, filament winding, layup, pultrusion, resin transfer molding and others. Compression & injection molding segment is expected to be one of the major contributors among others during the forecast period as it is the most preferred process for production of glass fiber reinforced plastic composites market.
Automobile end-use industry is expected to hold one of the largest shares of the market for glass fiber reinforced plastic composites market. Increasing trend of reducing vehicle weight in order to reduce fuel consumption, performance and efficiency is augmenting the growth of this segment. Aerospace & defence segment followed the automotive segment.
Polyester segment based on resin type is expected to grow at a high CAGR during the forecast period. This is due to their corrosion resistance and superior performance properties, they widely used as a matrix for glass fiber reinforced plastic composites in various applications such as automotive, aircraft, electronics components, railways and others. Polyester is followed by epoxy and polyurethane.
Geographically, Asia Pacific is expected to be one of the largest markets for glass fiber reinforced plastic composites during the forecast period. This is due to increasing demand from the countries like India and China owing to growing industrialization and increasing demand for environment friendly products.
Scope of the Report:
Glass Fiber Reinforced Plastic Composite Market, By Resin Type:
• Vinyl Ester
Glass Fiber Reinforced Plastic Composite Market, By Manufacturing Process:
• Compression & Injection Molding
• Filament winding
• Resin transfer molding
Glass Fiber Reinforced Plastic Composite Market, By End-use Industry:
• Aerospace & Defense
• Wind Energy
• Electrical & Electronics
• Construction & Infrastructure
• Pipes & Tanks
Glass Fiber Reinforced Plastic Composite Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operating in the Glass Fiber Reinforced Plastic Composites Market:
• Huntsman Corporation (US)
• Scott Bader (UK)
• Gurit Holding (Switzerland)
• Owens Corning (US)
• CPIC (China)
• Jushi Group (China)
• PPG Industries (US)
• Taishan Fiberglass (China)
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