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The GFRP Composites Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for GFRP Composites is the increasing demand for GFRP Composites in various industries.
This report on the GFRP Composites Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the GFRP Composites Market. The report intends to present a thorough analysis of the GFRP Composites Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
GFRP Composites Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the GFRP Composites Market are-
AGY Holdings Corp
Asahi Fiber Glass Co., LTD.
Chongqing Polycomp International Corporation
Johns Manville Corporation
Jushi Group Co., LTD.
Nippon Sheet Glass Co. LTD.
Owens Corning
PPG Industries, Inc.
Saint-Gobain S.A.
Taishan Fiberglass, Inc.
Growth drivers and Market Value:
This report, from Stratview Research, studies the GFRP Composites Market value and growth drivers over the trend period of 2022-27. According to the report -
GFRP Composites Market is likely to witness an impressive CAGR of 6.5% during the forecast period. High demand for GFRP composites from various industries such as transportation, wind energy, electrical & electronics, and pipes & tanks is expected to fuel the growth of the market during the forecast period.
Segment Analysis:
Based on Resin Type:
Based on the resin type, the market is segmented as polyester resin, vinyl ester resin, epoxy resin, polyurethane resin, thermoplastic resin, and others. The polyester segment is estimated to hold the largest share of the GFRP composites market during the forecast period. The performance of the product can be improved by using resins, along with GFRP composites, as per the need of application. The polyester segment accounted for the largest share of the market in 2016. It offers various attractive features such as resistance from corrosion, and excellent performance, due to which polyester resins are widely used as a matrix for GFRP composites in various applications such as automotive, aircraft, electronic components, railways, and others.
Based on Region:
In terms of regions, Asia-Pacific is expected to be the fastest-growing market for GFRP composites during the forecast period. The growth of the market is owing to the increasing consumption of GFRP composites in various end-use industries such as wind energy, electrical & electronics, construction & infrastructure, and transportation. In the Asia-Pacific’s GFRP composites market, China is the leading country and there has been the highest number of wind energy installations in the year 2019 and a new capacity of 23,328 MW was added to it later. Europe and North-America are also expected to offer substantial growth opportunities during the forecast period.
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