According to the recent study the glass fiber reinforced polymer (GFRP) market is projected to reach an estimated $61.3 billion by 2028 from $45.7 billion in 2022, at a CAGR of 3.7% from 2022 to 2028. Growth in this market is primarily driven by the growth in the construction, wind energy, electrical and electronics, consumer goods, and others market.
Browse 164 figures /
charts and 137 tables in this 339-page report to understand trends,
opportunities and forecast in GFRP market by end use (transportation, marine,
wind energy, pipe and tank, construction, electrical and electronics, consumer
goods, and aerospace), resin type (UPR resin, vinyl ester resin, epoxy resin,
PA resin, PP resin, phenolic resin, and other resins), product type
(E/ECR-glass, S-glass, C-glass, and others (NE glass, R-glass, and T-Glass)),
manufacturing process (hand lay-up, spray-up, resin infusion, filament winding,
pultrusion, injection molding, compression molding, prepreg lay-up, and other
manufacturing processes), and region (North America, Europe, Asia Pacific, and
the Rest of the World).
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https://www.lucintel.com/glass-fiber-reinforced-polymer-market.aspx
“Transportation market is expected to
remain the largest segment during the forecast period.”
Based on end use, the
GFRP market is segmented into transportation, marine, wind energy, pipe and
tank, construction, electrical and electronics, consumer goods, and aerospace.
Lucintel forecasts that the transportation market is expected to remain the
largest segment due to 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.
“Within the GFRP market, the UPR resin segment is expected to
remain the largest resin type.”
Based on resin typethe
UPR resin segment is expected to witness the highest growth over the forecast
period due to because it offers good mechanical and service properties, and
have excellent thermal stability and weather resistance.
“Asia pacific will dominate the GFRP market in near future.”
APAC 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 due to growth in
construction, transportation, and the electrical and electronics segments.
Growing economy, growth in population, and urbanization are the major forces
that drive the construction segment, especially in China and India.
Download Brochure of this report by clicking on https://www.lucintel.com/glass-fiber-reinforced-polymer-market.aspx.
Major players of GFRP
market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Owens Corning, Jushi
Group Co., Ltd., Chongqing Polycomp International Corporation (CPIC), Taishan
Fiberglass Inc., Nippon Electric Glass Co., Ltd., 3B-The Fibreglass Company (Goa
Glass fiber), Johns Manville Corporation, Nitto Boseki Co., Ltd, BASF SE,
Ashland LLC, Huntsman, Hexion, Polynt, Cytec Solvay Group, Celanese, SABIC,
DuPont are among the major GFRP providers.
This unique 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 click on this link https://www.lucintel.com/glass-fiber-reinforced-polymer-market.aspx or helpdesk@lucintel.com.
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Lucintel
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