Market Overview

Fiber Glass Reinforced Plastic (GFRP), is a composite material made of a polymer framework reinforced with fibers. Business material, for example, glass fibers are reinforced with lattices dependent on thermosetting polymers, like epoxy or polyester pitches. GFRPs are normally utilized in the auto, marine, and building and development businesses.

A portion of the noticeable elements that emphatically impact the development of GFRP Market are expanding interest for glass fiber based synthetic stockpiling vessels, rising interest for light weight glass fiber materials for development of boats and yachts, and multiplication of fiber Glass Reinforced Plastic based development materials. Expanding urbanization alongside rising per capita discretionary cashflow in created and arising economies are anticipated to drive the development of the market over the estimate time frame, 2017 to 2023. High reception rate alongside the expanding number of wind energy plants to meet the energy for the consistently developing populace. Besides, consistent development of auto area just as moving makers center towards lightweight materials and practical vehicles are assessed to fuel the development of the GFRP Market during the survey time frame, 2017 to 2023. Albeit, attributable to the ecological impacts of high temperatures and water content, the mechanical properties of the GFRP are adjusted, which is expected to decay the market development over the estimate time frame.

Key Players:

Some of the prominent players operating in the Global GFRP Market are Owens Corning (U.S.), Jushi Group Co., Ltd. (China), Chongqing Polycomp International Corporation (China), PPG Industries, Inc. (U.S.), Johns Manville Corporation (U.S.), Saint-Gobain Corporation (U.S.), Nippon Sheet Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (China), AGY Holding Corp. (U.S.), Asahi Fiber Glass Co., Ltd. (Japan), Binani Industries Limited (India), Celanese Corporation (U.S.), SAERTEX GmbH & Co. KG (Germany), NITTOBO ASIA Glass Fiber Co. Ltd. (Taiwan), and BGF Industries, Inc. (U.S.) among others.

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Segmentation:

The Global GFRP Market is categorized on the basis of reinforcing material type, end user industry, and region. On the basis of reinforcing material type, the market is bifurcated into polyester, epoxide, polyamide, and others. On the basis of end user industry, the GFRP Market is categorized into building & construction, marine, transportation, chemical plants, renewable energy, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis:

Europe is estimated to be the largest GFRP Market followed by North America and Europe due to strong existence of maritime industry. In Europe, Germany, Russia, Norway and Spain are predicted to register a strong growth on account of tremendous demand for GFRP in yacht manufacturing facilities. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for GFRP, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of construction industry is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to the presence of many chemical industries is expected to increase the market for GFRP based chemical storage vessels. In Latin America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.



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