Dallas, TX / CRWE PRESS RELEASE / Aug. 4, 2021 - According to the recent study the glass fiber reinforced plastic market is projected to reach an estimated $37.2 billion by 2026 from $27.1 billion in 2020, at a CAGR of 4.5% from 2020 to 2026. Growth in this market is primarily driven by increasing demand for lightweight materials in the transportation industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and high flame retardant materials demand in electrical and electronics industry.
Browse 157 figures / charts and 135 tables in this 325 -page report to understand trends, opportunities and forecast in glass fiber reinforced plastic market by application (transportation, marine, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), glass fiber type (E/ECR-Glass, S-Glass, C-Glass and others), resin type(UPR, vinyl ester, epoxy, PA, PP, phenolic and other resins), manufacturing process (hand layup, spray up, resin infusion, pultrusion, injection molding, compression molding, prepreg layups, and others), region (North America, Europe, Asia Pacific, and the Rest of the World) and by country (the USA, Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, Taiwan, and Brazil).
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“Transportation market is expected to remain the largest segment during the forecast period.”
Based on end use industry, the glass fiber reinforced plastic market is segmented into transportation, marine, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy. Lucintel forecasts that the transportation market is expected to remain the largest segment and it is also expected to witness in the highest growth over the forecast period due to government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight, and this is the key driver for glass fiber in the transportation industry.
“Within the glass fiber reinforced plastic market, the injection molding segment is expected to remain the largest manufacturing process”
Based on manufacturing process, the injection molding segment is expected to witness the largest segment over the forecast period because of low cycle time, low manufacturing cost, and ability to make complex shapes.
“Asia pacific will dominate the glass fiber reinforced plastic market in near future”
Asia Pacific is expected to remain the largest region and it is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.
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Major players of glass fiber reinforced plastic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Owens Corning, Jushi Group Co., Ltd., Chongqing Polycarp International Corporation (CPIC), Taishan Fiberglass Inc., Nippon Electric Glass Co., Ltd. are among the major glass fiber reinforced plastic providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/glass-fiber-reinforced-plastic-market.aspx or email@example.com
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