Lucintel anticipates that APAC will be the fastest growing region in glass fiber reinforced plastic market

According to a new market report published by Lucintel, the future of the glass fiber reinforced plastic market looks good with opportunities in transportation, marine, aerospace, construction, wind energy, pipe and tank, electrical & electronics industry. The glass fiber reinforced plastic market is expected to grow at a CAGR of 3.3% from 2019 to 2024. The major drivers for growth in this market are increasing demand for lightweight materials in the transportation industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and high flame retardant materials demand in electrical and electronics industry.

In this market, E/ECR glass, S glass, C glass and other glass type are the major glass type used with glass fiber reinforced plastic to manufacture parts. On the basis of comprehensive research, Lucintel forecasts that the E/ECR segment will remain the largest segment by value and volume due to usage in a wide range of applications designed to face corrosive environments and better performance over traditional glass fiber. Lucintel predicts that S glass is expected to witness the highest growth during forecast period due to its high tensile strength, tensile modulus, and high chemical & heat resistance compared to E/ECR glass fiber.

Within the glass fiber reinforced plastic market, injection molding, hand layup, compression molding, spray up, filament winding, resin infusion, and prepreg layup are some of the major processes utilized to manufacture composite parts. Injection molding is expected to be the largest process in terms of value and volume in composite manufacturing because of low cycle time, low manufacturing cost, and ability to make complex shapes.

Within glass fiber reinforced plastic market, transportation will remain the largest market by value and volume and it is also expected to witness in the highest growth over the forecast period. 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, and this is the key driver for glass fiber in the transportation industry.

Asia Pacific 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 because of growth in construction, transportation, and the electrical and electronics segments. rowing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.

Emerging trend, which has a direct impact on the dynamics of the industry, includes penetration of low dielectric glass fiber in high performance PCB . Owens Corning, Jushi, Nippon Electric Glass Co.Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corporation (CPIC), Johns Manville, INEOS, BASF, Dupont, Polynt, Huntsman, and Hexion are among the major raw materials suppliers for glass fiber reinforced plastic market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the glass fiber reinforced plastic in the global market by end use industry, manufacturing process, and by region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Glass Fiber Reinforced Plastic Market 2019-2024: 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 glass fiber reinforced plastic market by end use industry, by resin type, and by region as follows:

By End Use Industry (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):

•         Transportation
•      Marine 
•      Wind Energy 
•      Aerospace 
•      Pipe & tank 
•      Construction 
•      Electrical and Electronics
•      Consumer Goods 
•      Other

By Resin Type (Value ($M) shipment analysis from 2013 to 2024):

• UPR
• Vinyl ester
• Epoxy
• PA
• PP
• Phenolic
• Others

By Glass Fiber Type (Value ($M) shipment analysis from 2013 to 2024):

•          E/ECR Glass
•          S Glass
•          C Glass
•          Others

By Manufacturing Process (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):

•          Hand lay up
•          Spray up
•          Resin infusion
•          Pultrusion
•          Injection molding
•          Compression molding
•          Prepreg lay up
•          Others

By Region (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):

•          North America
•          Europe
•          Asia Pacific
•          Rest of World

By Country (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):

·     USA

·    Canada

·    Mexico

·    Germany

·    France

·   Italy

·   Spain

·   UK

·   China

·   India

·   Japan

·    Taiwan

·    Brazil

This 300 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 helpdesk@Lucintel.com. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.

  

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer 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:

Q1. What are some of the most promising, high-growth areas in the global glass fiber market by application (transportation, marine, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), glass fiber type (E/ECR-Glass, S-Glass, C-Glass and others), resin type(UPR, vinyl ester, epoxy, PA, PP, phenolic and other resins),  manufacturing process (hand lay up, spray up, resin infusion, pultrusion, injection  molding, compression molding, prepreg layups, and others), region (North America, Europe, Asia Pacific, and the Rest of the World) and by country (the USA, Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, Taiwan, and Brazil)?

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

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 leading 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 to what extent do they pose a threat for loss of market share via material or product substitution?

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