Glass Fiber Reinforced Polymer Market Introduction and Overview
According to SPER Market Research, the Global Glass Fiber Reinforced Polymer Market is estimated to reach USD 124.28 billion by 2033 with a CAGR of 6.76%.
The report includes an in-depth analysis of the Global Glass Fiber Reinforced Polymer Market, including market size and trends, product mix, applications, and supplier analysis. Glass fibers are used to strengthen a polymer matrix in Glass Fiber Reinforced Polymer (GFRP), a composite material. When combined with glass fibers, the polymer matrix—such as polyester or epoxy resin—provides a robust and flexible structure that is also resistant to corrosion. Because of its excellent strength-to-weight ratio, GFRP may be used in a variety of applications in place of more conventional materials like steel or aluminum. Furthermore, GFRP is almost seldom used in the construction of bridges while developing infrastructure. Because it is corrosion-resistant and lightweight, GFRP is a great substitute for conventional building materials. Glass fiber polymer (GFRP) reinforced bridge components have longer lifespans, need less maintenance, and have better corrosion resistance.
- May 2022: Glass fiber-reinforced PBT polymer LNP ELCRIN WF0061BiQ resin was introduced by SABMIC in May 2022. The new grade is the latest in SABIC's long range of chemically repurposed LNP ELCRIN iQ materials. In addition to improving circularity, these materials may be utilized to replace virgin PBT resins with drop-in alternatives. Applications for the LNP ELCRIN WF0061BiQ resin include computer fan housings, electrical connectors and enclosures, car seats, and other consumer electronics parts.
Market Opportunities and Challenges
Opportunities: Demand in the market is created by the growing demand in the automobile sector. GRP materials are being used more often in the car sector since they are lightweight and enhance fuel efficiency. GRP components are ideal for automotive applications such body panels, interiors, and structural elements because of its excellent strength-to-weight ratio, resistance to corrosion, and design flexibility. High strength and low weight, Because of their exceptional strength and low weight, glass fiber reinforced polymer (GFRP) materials are perfect for a wide range of applications where weight reduction is crucial, including the wind energy, automotive, and aerospace sectors. One major factor propelling the GFRP market is the need for strong, lightweight materials.
Challenges: Strong alternative items may make it more difficult for a market to expand. The need for glass fiber-reinforced polymers may decrease with the introduction of carbon fiber-reinforced polymers, which have the advantages of being lightweight, low-density, and highly conductive. Price volatility for raw materials: Variations in the cost of raw materials, such as resins and glass fibers, can affect how much GFRP products cost overall. For market participants, price volatility complicates long-term planning and has an impact on profit margins. Limited Recycling Options: Because of the composite's natural characteristics, it is challenging to recycle GFRP materials. The absence of effective recycling techniques limits the long-term application of GFRP and raises environmental issues.
Market Competitive Landscape
Key competitors in the glass fiber reinforced polymer market are engaged in fierce rivalry. To obtain a competitive advantage, well-known businesses in the industry concentrate on strategic initiatives including partnerships, mergers and acquisitions, and product developments. These businesses want to meet a wide range of client needs, increase their market presence, and diversify their product offerings. Furthermore, one important tactic used by market participants is funding research and development initiatives to create cutting-edge GFRP materials and production techniques. Key players are Advanced Composites Inc., BASF SE, BGF Industries Inc., Braj Binani Group, Celanese Corporation, China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Johns Manville, Nippon Electric Glass Co. Ltd., Ownes Corning.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Resin Type, By Process, By End User Industry.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Advanced Composites Inc., BASF SE, BGF Industries Inc., Braj Binani Group, Celanese Corporation, China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Johns Manville, Nippon Electric Glass Co. Ltd., Ownes Corning.
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COVID-19 Impact on Global Glass Fiber Reinforced Polymer Market
The market for glass fiber reinforced polymers was significantly impacted by the COVID-19 epidemic. Global supply systems were thrown off balance by the epidemic, which caused delays in manufacturing and a scarcity of raw materials. In spite of the difficulties, the market proved resilient and began to rebound. In the early stages of the pandemic, GFRP became less in demand in the construction industry as a result of the postponement of many construction projects. Sales in the automobile industry also declined as a result of temporary plant closures. The GFRP market had a brief setback as a result of these causes.
Key Target Audience:
- Construction Industry Professionals
- Automotive Manufacturers
- Aerospace and Defense Industry
- Renewable Energy Sector
- Marine Industry
- Sports and Leisure Equipment Manufacturers
- Electronics and Electrical Industry
- Healthcare Sector
- Academic and Research Institution
- Investors and Market Analysts
Our in-depth analysis of the Fiber Reinforced Polymer Market includes the following segments:
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By Resin Type: |
Polyester
Vinyl Ester
Epoxy
Polyurethane
Other Resin Types
PEEK Resin
Phenolic Resin
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By Process: |
Manual Process
Compression Molding
Sheet Molding Compound Process
Glass Mat Thermoplastic Process
Continuous Process
Injection Molding
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By End User Industry: |
Energy
Automotive
Marine
Construction and Infrastructure
Electrical and Electronics
Aerospace and Defense
Healthcare Consumer Goods
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Key Topics Covered in the Report:
- Global Glass Fiber Reinforced Polymer Market Size (FY’2024-FY’2033)
- Overview of Global Glass Fiber Reinforced Polymer Market
- Segmentation of Global Glass Fiber Reinforced Polymer Market By Resin Type (Polyester, Vinyl Ester, Epoxy, Polyurethane, Other Resin ( PEEK Resin, Phenolic Resin))
- Segmentation of Global Glass Fiber Reinforced Polymer Market By Process (Manual Process, Compression Molding (Sheet Molding Compound Process, Glass Mat Thermoplastic Process), Continuous Process, Injection Molding)
- Segmentation of Global Glass Fiber Reinforced Polymer Market By End User Industry (Energy, Automotive, Marine, Construction and Infrastructure, Electrical and Electronics, Aerospace and Defense, Healthcare Consumer Goods)
- Statistical Snap of Global Glass Fiber Reinforced Polymer Market
- Expansion Analysis of Global Glass Fiber Reinforced Polymer Market
- Problems and Obstacles in Global Glass Fiber Reinforced Polymer Market
- Competitive Landscape in the Global Glass Fiber Reinforced Polymer Market
- Impact of COVID-19 and Demonetization on Global Glass Fiber Reinforced Polymer Market
- Details on Current Investment in Global Glass Fiber Reinforced Polymer Market
- Competitive Analysis of Global Glass Fiber Reinforced Polymer Market
- Prominent Players in the Global Glass Fiber Reinforced Polymer Market
- SWOT Analysis of Global Glass Fiber Reinforced Polymer Market
- Global Glass Fiber Reinforced Polymer Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Glass Fiber Reinforced Polymer Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Glass Fiber Reinforced Polymer Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Glass Fiber Reinforced Polymer Market
7. Global Glass Fiber Reinforced Polymer Market, By Resin Type (USD Million) 2020-2033
7.1. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Resin Type, 2020-2026
7.2. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Resin Type, 2027-2033
7.3. Polyester
7.4. Vinyl Ester
7.5. Epoxy
7.6. Polyurethane
7.7. Other Resin Types
7.7.1 PEEK Resin
7.7.2 Phenolic Resin
8. Global Glass Fiber Reinforced Polymer Market, By Process (USD Million)2020-2033
8.1. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Process, 2020-2026
8.2. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By Process, 2027-2033
8.3. Manual Process
8.4. Compression Molding
8.4.1 Sheet Molding Compound Process
8.4.2 Glass Mat Thermoplastic Process
8.5 Continuous Process
8.6 Injection Molding
9. Global Glass Fiber Reinforced Polymer Market, By End User Industry (USD Million)2020-2033
9.1. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By End User Industry, 2020-2026
9.2. Global Glass Fiber Reinforced Polymer Market Size, Share and Forecast, By End User Industry, 2027-2033
9.3. Energy
9.4. Automotive
9.5. Marine
9.6. Construction and Infrastructure
9.7. Electrical and Electronics
9.8. Aerospace and Defense
9.9. Healthcare Consumer Goods
10. Global Glass Fiber Reinforced Polymer Market Forecast, 2020-2033 (USD Million)
10.1. Global Glass Fiber Reinforced Polymer Market Size and Market Share
11. Global Glass Fiber Reinforced Polymer Market, By Region, 2020-2033 (USD Million)
11.1. Global Glass Fiber Reinforced Polymer Market Size and Market Share By Region (2020-2026)
11.2. Global Glass Fiber Reinforced Polymer Market Size and Market Share By Region (2027-2033)
11.3. Asia-Pacific
11.3.1. Australia
11.3.2. China
11.3.3. India
11.3.4. Japan
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France
11.4.2. Germany
11.4.3. Italy
11.4.4. Spain
11.4.5. United Kingdom
11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Qatar
11.5.4. South Africa
11.5.5. Egypt
11.5.6. Morocco
11.5.7. Nigeria
11.5.8. Rest of Middle East & Africa
11.6. North America
11.6.1. Canada
11.6.2. Mexico
11.6.3. United States
11.7. Latin America
11.7.1. Argentina
11.7.2. Brazil
11.7.3. Rest of Latin America
12. Company Profile
12.1. Advanced Composites Inc.
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. BASF SE
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. BGF Industries Inc.
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Braj Binani Group
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Celanese Corporation
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. China Beihai Fiberglass Co. Ltd.
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. China Jushi Co. Ltd.
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Johns Manville
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Nippon Electric Glass Co. Ltd.
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Owens Corning
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links