Glass Fiber Reinforced Plastics (GFRP) Composites Market

Date: 2016-05

Glass fibers are produced when glass is heated until it is molten, and is forced through superfine holes, creating thin glass filaments/fibers about 1/10th the size of a human hair. Glass fibers are available in different diameters according to their requirement. The products available in the glass fiber reinforced plastic composites have been incorporated in various applications for several decades because of their relatively low cost in comparison with traditional materials such as steel and aluminum and are easily available. Additionally, usage of glass fibers in place of metals offers certain structural advantages such as styling flexibility. GFRP Composites are lighter and flexible; therefore producing complex models with higher resistance and lower weight is easier.

Glass Fiber Reinforced Composite materials are characterized by specific stiffness and strength exceeding that of similar metal structures. With emphasis on light weight vehicles, the use of composite materials in aerospace and automotive structures has created a need to further understanding the energy absorption characteristics of composite materials. High strength and light weight remain the best combination that if forcing composite materials in the new field from last few decades.

The mechanical properties such as tensile, flexural, interlaminar shear strength, impact strength, notch sensitivity, and water absorption of jute-glass reinforced composites were studied and it was found that the mechanical properties are lower than those of plain GFRP and more than the jute fiber reinforced composites.

The wind energy, aerospace & defense, and pipe, tank & other corrosion resistant equipment are the fastest growing segments in the application market worldwide. The government funded infrastructure and construction projects in the developing countries drive the market. Also, the increasing wind energy installed capacity drives the GFRP Composites market at a fast rate. The light weight, strength, and corrosion resistant properties of glass fiber drive its growth in the aerospace & defense segment.

Owing to benefits such as light weight, high strength, as well as lower price, GFRP Composites are being used across industry verticals. However, transportation, construction & infrastructure, marine are key end use industries of the GFRP composites market.

The global market for GFRP Composites was estimated to be $XX billion in 2015. The global market for GFRP composite is estimated to grow at a CAGR of xx% and is forecast to reach $XX billion by 2021. Transportation, construction & infrastructure, marine are the major end-users for GFRP Composites

Asia-Pacific is the leading market for GFRP composites with China leading the charge. Asia region is forecast to have highest growth in the next few years due to growing adoption of GFRP Composite in industrial applications. Asia GFRP composites market accounts to XX% of the global market for GFRP composites and is the fastest growing market followed by Americas. In Americas, Marine as well as Construction & Infrastructure industry is the major end users of GFRP composites market. APAC alone are estimated to occupy a share of more than XX% during 2016-2021.

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