Market Overview:
The global GFRP composites market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for lightweight and durable materials across different industries. In terms of type, the epoxy segment is expected to lead the global GFRP composites market during the forecast period, followed by polyester and vinyl ester segments. The electrical appliances application segment is projected to be fastest-growing during the forecast period, owing to increasing demand for lightweight and durable materials in this application area.
Product Definition:
GFRP composites are made up of fiberglass and resin. They are used in a variety of applications, including boatbuilding, car manufacturing, and construction. GFRP composites are strong and lightweight, making them ideal for use in high-stress applications.
Epoxy:
Epoxy resin is a thermosetting polymer, which contains an epoxide group. It is manufactured by the reaction of phenol with an alkali catalyst or high temperature and pressure. Epoxy resins are used in various industries including construction, automotive, marine and electrical & electronics industries for manufacturing products such as paints & coatings, adhesives & sealants and composites among others.
Polyester:
Polyester is a synthetic fiber that belongs to the class of rayon and nylon-related fibers. It is produced from the polymerization of adipic acid. Polyester has high chemical resistance, excellent dimensional stability, and good surface hardness along with it’s easy processing ability makes it suitable for use in composite materials.
Application Insights:
The wind power generation application segment led the global gFRP composites market in 2017. GFRP is a highly efficient and renewable resource-based alternative to traditional mechanical, steel-based materials for the manufacturing of utility and high voltage wind turbines. The product reduces overall weight of turbine components, thereby improving energy yield while increasing electricity production efficiency by approximately 5% to 10%.
Growth in demand for clean energy sources such as solar and wind has resulted in an increased focus on reducing environmental impact during their manufacturing process. This trend is expected to drive the demand for eco-friendly products over the forecast period, with gFRP composites being one such sustainable solution that can be used across multiple applications without compromising on performance or quality standards.
Regional Analysis:
North America accounted for the largest share of over 35% in 2017. The region is expected to continue its dominance over the forecast period as well, owing to increasing demand from various end-use industries such as wind power generation, electrical appliances and construction.
The U.S., which was at the forefront of North America GFRP Composites Industry, witnessed a significant increase in its offshore wind farms from 30 operational turbines in 2016 to 57 operational turbines by April 2018’s edition of Global Offshore Wind Energy Market Report & Trends 2019 (Global Offshore Wind Energy Association). This initiative is anticipated to propel market growth across North America during the forecast period.
Europe accounted for a major share within GFRP composites industry and this trend is expected to continue till 2030 due high consumption levels along with rising investments across several sectors including aerospace and defense among others that are anticipated drive regional demand levels higher than global average during same years (see Figure 1).
Growth Factors:
- Increasing demand from the aerospace and defense sectors: The global GFRP composites market is expected to be driven by the increasing demand from the aerospace and defense sectors. The high strength-to-weight ratio of GFRP composites makes them ideal for use in aircraft and spacecraft components, which need to be lightweight yet durable.
- Growing demand for lightweight vehicles: With governments across the world focusing on reducing emissions, there is a growing demand for lightweight vehicles. GFRP composites are an excellent material choice for manufacturing lightweight vehicles as they are strong yet light in weight. This is likely to drive the growth of the global GFRP composites market in the coming years.
- Rising popularity of wind energy: Wind energy is becoming increasingly popular across the globe as it is a clean and renewable source of energy. Wind turbines are made up of several components, including blades, nacelles, hubs, and towers; all of which can be made using GFRP composites materials owing to their high strength and stiffness properties . This is likely to fuel growth in the global GFRP Composites market over forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
GFRP Composites Market Research Report
By Type
Epoxy, Polyester, Vinyl Ester
By Application
Wind Power Generation, Electrical Appliances, Pulp And Paper, Construction, Aerospace, Other
By Companies
Owens Corning, Jushi Group, Chongqing Polycomp International, PPG Industries, Johns Manville, Saint-Gobain, Nippon Sheet Glass, Taishan Fiberglass, Agy Holdings
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global GFRP Composites Market Report Segments:
The global GFRP Composites market is segmented on the basis of:
Types
Epoxy, Polyester, Vinyl Ester
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Wind Power Generation, Electrical Appliances, Pulp And Paper, Construction, Aerospace, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Owens Corning
- Jushi Group
- Chongqing Polycomp International
- PPG Industries
- Johns Manville
- Saint-Gobain
- Nippon Sheet Glass
- Taishan Fiberglass
- Agy Holdings
Highlights of The GFRP Composites Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Epoxy
- Polyester
- Vinyl Ester
- By Application:
- Wind Power Generation
- Electrical Appliances
- Pulp And Paper
- Construction
- Aerospace
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the GFRP Composites Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
GFRP Composites are a type of composite material that is made up of two or more types of materials. GFRP composites are often used in applications where strength, stiffness, and durability are important factors.
Some of the major companies in the gfrp composites market are Owens Corning, Jushi Group, Chongqing Polycomp International, PPG Industries, Johns Manville, Saint-Gobain, Nippon Sheet Glass, Taishan Fiberglass, Agy Holdings.
The gfrp composites market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. GFRP Composites Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. GFRP Composites Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. GFRP Composites Market - Supply Chain
4.5. Global GFRP Composites Market Forecast
4.5.1. GFRP Composites Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. GFRP Composites Market Size (000 Units) and Y-o-Y Growth
4.5.3. GFRP Composites Market Absolute $ Opportunity
5. Global GFRP Composites Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. GFRP Composites Market Size and Volume Forecast by Type
5.3.1. Epoxy
5.3.2. Polyester
5.3.3. Vinyl Ester
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global GFRP Composites Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. GFRP Composites Market Size and Volume Forecast by Application
6.3.1. Wind Power Generation
6.3.2. Electrical Appliances
6.3.3. Pulp And Paper
6.3.4. Construction
6.3.5. Aerospace
6.3.6. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global GFRP Composites Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. GFRP Composites Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global GFRP Composites Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. GFRP Composites Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global GFRP Composites Demand Share Forecast, 2019-2026
9. North America GFRP Composites Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America GFRP Composites Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America GFRP Composites Market Size and Volume Forecast by Application
9.4.1. Wind Power Generation
9.4.2. Electrical Appliances
9.4.3. Pulp And Paper
9.4.4. Construction
9.4.5. Aerospace
9.4.6. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America GFRP Composites Market Size and Volume Forecast by Type
9.7.1. Epoxy
9.7.2. Polyester
9.7.3. Vinyl Ester
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America GFRP Composites Demand Share Forecast, 2019-2026
10. Latin America GFRP Composites Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America GFRP Composites Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America GFRP Composites Market Size and Volume Forecast by Application
10.4.1. Wind Power Generation
10.4.2. Electrical Appliances
10.4.3. Pulp And Paper
10.4.4. Construction
10.4.5. Aerospace
10.4.6. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America GFRP Composites Market Size and Volume Forecast by Type
10.7.1. Epoxy
10.7.2. Polyester
10.7.3. Vinyl Ester
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America GFRP Composites Demand Share Forecast, 2019-2026
11. Europe GFRP Composites Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe GFRP Composites Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe GFRP Composites Market Size and Volume Forecast by Application
11.4.1. Wind Power Generation
11.4.2. Electrical Appliances
11.4.3. Pulp And Paper
11.4.4. Construction
11.4.5. Aerospace
11.4.6. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe GFRP Composites Market Size and Volume Forecast by Type
11.7.1. Epoxy
11.7.2. Polyester
11.7.3. Vinyl Ester
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe GFRP Composites Demand Share, 2019-2026
12. Asia Pacific GFRP Composites Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific GFRP Composites Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific GFRP Composites Market Size and Volume Forecast by Application
12.4.1. Wind Power Generation
12.4.2. Electrical Appliances
12.4.3. Pulp And Paper
12.4.4. Construction
12.4.5. Aerospace
12.4.6. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific GFRP Composites Market Size and Volume Forecast by Type
12.7.1. Epoxy
12.7.2. Polyester
12.7.3. Vinyl Ester
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific GFRP Composites Demand Share, 2019-2026
13. Middle East & Africa GFRP Composites Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa GFRP Composites Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa GFRP Composites Market Size and Volume Forecast by Application
13.4.1. Wind Power Generation
13.4.2. Electrical Appliances
13.4.3. Pulp And Paper
13.4.4. Construction
13.4.5. Aerospace
13.4.6. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa GFRP Composites Market Size and Volume Forecast by Type
13.7.1. Epoxy
13.7.2. Polyester
13.7.3. Vinyl Ester
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa GFRP Composites Demand Share, 2019-2026
14. Competition Landscape
14.1. Global GFRP Composites Market: Market Share Analysis
14.2. GFRP Composites Distributors and Customers
14.3. GFRP Composites Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Owens Corning
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Jushi Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Chongqing Polycomp International
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. PPG Industries
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Johns Manville
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Saint-Gobain
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Nippon Sheet Glass
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Taishan Fiberglass
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Agy Holdings
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
