Global Glass Fiber Reinforced Plastics Composites Market was valued at an estimated USD 46.75 billion in 2018 and this value is expected to undergo grow with a CAGR of 6.25% in the forecast period of 2019-2026, where the value will rise to 75.92 billion by 2026. The factors behind this rise in market value are its enhanced characteristics, such as high weight to strength ratio, easily molding characteristics.
Glass fiber reinforced plastics composites are a variant of modified composite materials that include glass fibers inside a polymer matrix. With the production of these composites, the surface tension and characteristics are of utmost importance due to their effects on the tensile properties of the product. They have high weight-to-strength ratio and can be easily molded into different shapes and sizes in their molten state.
Competitive Analysis: Global Glass Fiber Reinforced Plastics Composites Market
Global glass fiber reinforced plastics composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of glass fiber reinforced plastics composites market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Glass Fiber Reinforced Plastics Composites Market
Few of the major competitors currently working in the glass fiber reinforced plastics composites market are PPG Industries Inc., Owens Corning, Johns Manville, Yuntianhua Group Co. Ltd., Jushi Group, Saint-Gobain, ASAHI FIBER GLASS Co. Ltd., Nippon Sheet Glass Co. Ltd, AGY, CTG Group, Nitto Boseki Co. Ltd., Braj Binani Group, China Beihai Fiberglass Co. Ltd., BGF Industries Inc., SAERTEX GmbH & Co. KG, Jiangsu Jiuding New Materials Co. Ltd., Celanese Corporation, Quantum Composites, Reliance Industries Limited, PFG FIBER GLASS CORPORATION and Advanced Composites Inc.
Segmentation: Global Glass Fiber Reinforced Plastics Composites Market
- By Resin Type (Thermoplastic, Epoxy, Polyester, Vinyl Ester, Polyurethane, Others)
- By Manufacturing Process (Filament Winding, Compression & Injection Molding Process, Pultrusion, RTM, Layup, Others)
- By End-Use Industry (Transportation, Construction & Infrastructure, Wind Energy, Pipes & Tanks, Electrical & Electronics, Aerospace & Defense, Marine, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
- Rise in usage and adoption of the product from various end-user industries due to their high weight-to-strength ratio is expected to act as a driver for the market growth
- Cost of processing, manufacturing and recycling of the product is very significant; this factor is expected to act as a restraint to the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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