Glass Fiber and GFRP Composites Market: Snapshot
The rising demand for GFRP composites and glass fiber from various end-use industries such as construction and materials, pipes and tanks, and energy development sectors are expected to help the global glass fiber and GFRP composites market gain significant momentum during the forecast period, 2024-2030. Glass fiber is of various types such as composite and insulated and the combination of various fine glass filaments forms a glass fiber. Silica forms the base material of any glass fiber, formed as a result of numerous manufacturing processes such as staple fiber process, formation, melting, and others. The wide uses of this glass fiber for the reinforcement of various materials stand as a key factor promoting its growth.
The report offers a 360-degree overview of the global glass fiber and GFRP composites market and its growth patterns. It focuses on key trends, current product launches, and recent innovations. The report also discusses the key drivers, restraints, leading players and dominating segments of this market. It also provides an additional angle on the impact of COVID-19 pandemic on the global glass fiber and GFRP composites market and discusses the if’s and but’s or the upcoming opportunities that this pandemic may bring upon the market in the coming years.
The global glass fiber and GFRP composites market is categorized on the basis of resin, end-use industry, manufacturing, and geographical segmentation. In terms of resin, the market is classified into polyurethane, polyester, epoxy, vinyl ester, and others. Based on the end-use industry, the market is divided into wind energy, pipes & tanks, electrical & electronics, transportation, marine, aerospace & defense, and others.
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Glass Fiber and GFRP Composites Market: Competitive Landscape
The nature of the global glass fiber is highly competitive. The declaration of CFRP and GFRP as recyclable materials by the European Composites Industry Association further intensified the competition among players. However, some issues are still under rectification in terms of product quality, quantity, and recycling ability. Organizations are attempting to help lessen a worldwide temperature alteration and investigate the capability of composites to decrease ozone harming substance outflows. Be that as it may, the trouble in reusing GFRP composites is a hindrance particularly in the development and car ventures, where the strain to reuse is high. Some of the players operating in this market include Asahi Fiber Glass, CPIC, Saint Gobain, Nippon Sheet Glass, Taishan Fiberglass, PPG Industries, Owen Corning, and AGY Holding, Nippon Sheet Glass, and others.
Glass Fiber and GFRP Composites Market: Recent Innovations
The utilization of fiberglass in various items fluctuates from fundamental (pipes, tanks electrical, and so on) to profoundly particular areas including car, wind energy, guard, aviation, transportation, marine, hardware, purchaser products, and development is the biggest market. Assortment in surface, climate safe, quality, and lightweight credits of fiberglass have added to its developing interest in the referenced areas. There has likewise been a move in focal point of firms, investigating new roads for fiberglass utilization. Extension as of late in the market has additionally encouraged an interest gracefully hole that should be filled utilizing options. Creative assembling measures and new item advancement are wanted to infiltrate into immersed showcases and venture into new ones.
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Glass Fiber and GFRP Composites Market: Regional Insights
Asia Pacific rules the worldwide glass fiber and GFRP composites market with North America in close competition. China is the biggest maker and provider among the arising economies, likewise being a top fiberglass item purchaser. The USA stands as the biggest producer as well as purchaser of fiberglass. Germany in Europe is the biggest maker, trailed by the UK, Spain, Italy, and France. Arising nations of Brazil and India have additionally been demonstrating development possibilities with an expansion popular. Development areas will drive the glass fiber and glass fiber fortified plastic composites market in the Middle East and Africa locales. Innovative work exercises for the creation of high caliber and execution items are driven by European countries and the USA. The market chief in this section is Owens Corning particularly after the obtaining of St. Gobain.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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