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GFRP Composites - Global Market Trajectory & Analytics

  • ID: 4805040
  • Report
  • April 2021
  • Region: Global
  • 300 Pages
  • Global Industry Analysts, Inc
Global GFRP Composites Market to Reach $65.9 Billion by 2027

Amid the COVID-19 crisis, the global market for GFRP Composites estimated at US$46 Billion in the year 2020, is projected to reach a revised size of US$65.9 Billion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027. Transportation, one of the segments analyzed in the report, is projected to record a 6.2% CAGR and reach US$21.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrical & Electronics segment is readjusted to a revised 4.3% CAGR for the next 7-year period.



The U.S. Market is Estimated at $12.5 Billion, While China is Forecast to Grow at 8.2% CAGR

The GFRP Composites market in the U.S. is estimated at US$12.5 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$13.8 Billion by the year 2027 trailing a CAGR of 8.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Wind Energy Segment to Record 4.8% CAGR

In the global Wind Energy segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.4 Billion in the year 2020 will reach a projected size of US$4.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.8 Billion by the year 2027, while Latin America will expand at a 5.8% CAGR through the analysis period.

Select Competitors (Total 42 Featured):
  • Advanced Composites, Inc.
  • Agy Holdings Corp.
  • Asahi Fiber Glass Co., Ltd.
  • BGF Industries, Inc.
  • Celanese Corporation
  • China Beihai Fiberglass Co. Ltd.
  • China National Building Materials Group Co., Ltd.
  • Chongqing Polycomp International Corporation
  • Jiangsu Jiuding New Materials Co., Ltd.
  • John Manville
  • Nippon Sheet Glass Co., Ltd.
  • Nitto Boseki Co., Ltd.
  • Owens Corning
  • Pfg Fiberglass Corporation
  • PPG Industries, Inc.
  • Quantum Composites, Inc.
  • Reliance Industries Ltd.
  • SAERTEX GmbH & Co.KG
  • Saint-Gobain SA
  • Taishan Fiberglass, Inc.
Frequently Asked Questions about the Global Market for GFRP Composites

What is the estimated value of the Global Market for GFRP Composites?

The Global Market for GFRP Composites was estimated to be valued at $46.0 Billion in 2020.

What is the growth rate of the Global Market for GFRP Composites?

The growth rate of the Global Market for GFRP Composites is 5.3%, with an estimated value of $65.9 Billion by 2027.

What is the forecasted size of the Global Market for GFRP Composites?

The Global Market for GFRP Composites is estimated to be worth $65.9 Billion by 2027.
Note: Product cover images may vary from those shown

I. METHODOLOGY
II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Market Review
  • Definition
  • State of Global Composites Industry
  • North America and Asia-Pacific: Major Markets For Growth
  • A Look into the Fastest Growing Market for GFRP Composites
  • Usage of GFRP Composites on Rise Led by Product Characteristics and Applications
  • Market Dynamics of GFRP Composites
  • High Investment and Cost of Technology Remain Major Restraining Factors
  • Factors Propelling Demand for Glass Fiber & Glass Fiber Reinforced Plastic (GFRP) Composites
  • Use of Composites in Infrastructure Applications on Rise
  • Drive for Fuel-Efficient Vehicles Spurs Demand for GRFC Composites
  • Electrical & Electronics sector to Create New Market Opportunities
  • Miniaturization Trend Drive Search for High Performance Materials
  • Agricultural Equipment Emerge as a Growing Market for Composites
  • NoTable Trends in the Composites Market
  • Price Fluctuations of Raw Materials to show Downward Trend
  • Emerging Economies to Drive Demand Glass Fiber Reinforced Plastics (GFRP) composites
  • Consolidation Remains Rife in the Industry
  • Agriculture Sprayers: Vital Role in Managing Crop Production
  • Growth in Use of Composites in Aerospace Applications
  • FRP Bridge Posts Healthy Growth
  • Application of GRPF Composites in Wind Energy
  • New Offshore Wind Projects Add to Market Opportunities
  • Exhibit 1: Global Investments in Renewable Energy
  • Compression & Injection Molding Manufacturing Industry Bolster the Glass Fiber Reinforced Plastics (GFRP) composites market
  • End-Use Industries to Drive GFRP Composites Market
  • Low-voltage Switchgear Market Drivers and Restraints
  • Revival of Construction Industry to Drive Demand GFRP Composites

III. MARKET ANALYSIS
  • Active Players in United States
  • US to Release Standards for Use of Composites in Infrastructure
  • Aging Infrastructure in Urgent Need of Rehabilitation and Repair: An Opportunity to Tap for Composite Materials in the US
  • US Construnction Industry Spending: 2000-2022
  • Active Players in Canada
  • Active Players in Japan
  • Active Players in China
  • Active Players in France
  • Active Players in Germany
  • Active Players in Italy
  • Active Players in United Kingdom
  • Active Players in Spain
  • Active Players in Russia
  • Active Players in Rest of Europe
  • Active Players in Australia
  • Active Players in India
  • Active Players in South Korea
  • Active Players in Rest of Asia-Pacific
  • Active Players in Argentina
  • Active Players in Brazil
  • Active Players in Mexico
  • Active Players in Rest of Latin America
  • Active Players in Iran
  • Active Players in Israel
  • Active Players in Saudi Arabia
  • Active Players in United Arab Emirates
  • Active Players in Rest of Middle East
  • Active Players in Africa

IV. COMPETITION
  • Total Companies Profiled: 42
Note: Product cover images may vary from those shown