Global Glass Fiber Reinforced Plastic (GFRP) Composites Market report from Global Insight Services is the single authoritative source of intelligence on Glass Fiber Reinforced Plastic (GFRP) Composites Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Glass Fiber Reinforced Plastic, or GFRP, is a composite material made of glass fibers and a plastic resin. The glass fibers provide strength and stiffness, while the plastic resin binds the fibers together and gives the material its shape. GFRP composites are used in a variety of applications, including boat hulls, car bodies, and aircraft parts. Because they are strong and lightweight, GFRP composites are an attractive alternative to traditional materials such as steel and aluminum.
Key Trends
The key trends in Glass Fiber Reinforced Plastic (GFRP) Composites technology are:
- Development of new types of GFRP composites: With the advancement of composite materials technology, new types of GFRP composites are being developed. These include nanocomposites, ultra-high performance composites, and conductive composites.
- Improvement in the manufacturing process: The manufacturing process of GFRP composites has undergone a lot of improvement in recent years. This has resulted in better quality and cheaper composites.
- Increase in applications: GFRP composites are finding increasing applications in various industries such as construction, automotive, aerospace, and wind energy.
- Advancement in recycling technology: With the advancement in recycling technology, it is now possible to recycle GFRP composites. This is expected to reduce the environmental impact of these materials.
Key Drivers
The key drivers of the Glass Fiber Reinforced Plastic (GFRP) Composites market are its high strength-to-weight ratio, low density, corrosion resistance, and thermal and electrical insulation properties. Additionally, GFRP composites have high specific stiffness and are able to withstand large amounts of deformation without failure. These properties make GFRP composites an ideal material for a variety of applications, including aerospace, automotive, and construction.
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Restraints & Challenges
The key restraints and challenges in the Glass Fiber Reinforced Plastic (GFRP) Composites market are the high cost of raw materials and the lack of awareness among end-users.
The high cost of raw materials is a major challenge for the growth of the Glass Fiber Reinforced Plastic (GFRP) Composites market. The major raw materials used in the production of GFRP composites are glass fibers and resin. The price of glass fibers has been increasing at a rapid pace in the last few years.
The lack of awareness among end-users is another major challenge for the growth of the Glass Fiber Reinforced Plastic (GFRP) Composites market. GFRP composites are not widely used in the construction and automotive industries due to the lack of awareness about their properties and applications. This is expected to restraining the growth of the GFRP Composites market.
Market Segments
The Glass Fiber Reinforced Plastic (GFRP) Composites Market is segmented by resin type, manufacturing process, end-use, and region. By resin type, the market is divided into polyester, vinyl ester, epoxy, and others. Based on manufacturing process, it is classified into compression & injection molding process, layup, filament winding, and others. On the basis of end-use, it is bifurcated into wind energy, electrical & electronics, transportation, pipes & tanks, and others. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Glass Fiber Reinforced Plastic (GFRP) Composites Market includes players such as Johns Manville, BGF Industries, Asahi Glass Company Limited, Advanced Glassfiber Yarns LLC, Chomarat Group, Jushi Group Co. Ltd., Taishan Fiberglass Inc., Owens Corning, PPG Industries Inc. and Binani 3B-The Fibreglass Company.
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