Glass Fiber Reinforced Plastic (GFRP) Market 2019 Global Market Challenge, Driver, Trends & Forecast to 2023

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Glass Fiber Reinforced Plastic (GFRP) Market
Research Report- Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Glass Fiber Reinforced Plastic (GFRP) Market -
2023
Global Glass Fiber Reinforced Plastic
(GFRP) Market Research Report Information by
Reinforcing Material (Polyester, Epoxide,
Polyamide, and Others), by End Use (Building
Construction, Marine, Transportation, Chemical
Plants, Renewable Energy and Others) and Region-
Forecast till 2023 Glass FSynopsis of GFRP
Market iber Reinforced Plastic (GFRP) is made
from silica-based raw materials combined with
metal oxides and is available in several
formulations to meet application demands. They
are reinforced with matrix materials such as
polyester, epoxide and polyamide more widely.
GFRP are combination of properties such as light
weight, high strength-to-weight ratio, design
freedom, high levels of stiffness, chemical
resistance, good electrical insulating
properties, and retention of dimensional
stability across a wide range of temperatures.
These properties have major applications in
casting on solid surfaces in housing, in the
construction of boats in all shapes and sizes,
and construction of pipe work and for chemical
storage vessels and fume scrubbers. As per our
Analysis, some of the prominent market factors
and trends identified in the Global GFRP Market
include rapid industrialization owing to the
world is potentially on the edge of an age where
demand for powerful materials coupled with
innovation in the chemicals industry. Rising
demand for low weight, mouldability and high
quality surface finishes make GFRP an ideal
material for automotive car body panels, and
increasing expenditure on research activities are
the other factors. Moreover, demand for GFRP is
predicted to witness a significant growth over
the assessment period due to surging marine
industry. GFRP has largely replaced traditional
wood and steel building methods to manufacture
yachts, ships and marine transportation vehicles
across the globe is anticipated to be an
important driver for GFRP Market during the
review period. Furthermore, rapid urbanization
coupled with increasing disposable income in
emerging economies is predicted to propel the
growth of the market during the assessment
period, 2017 to 2023. However, the mechanical
properties of Glass-Fiber Epoxy Resin Composites
are generally negatively impacted by moisture and
high temperature, which is expected to hamper the
growth of the market.
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Glass Fiber Reinforced Plastic (GFRP) Market -
2023
Regional Analysis The Global GFRP Market
consists of five regions Asia Pacific, Europe,
Latin America, North America, and the Middle East
Africa. Among these, Europe is predicted to
grow with the highest CAGR during the review
period, 2017 to 2023 on account of expanding
marine industry. The demand for GFRP is predicted
to surge in numerous countries of the Asia
Pacific such as China, India and Japan due to
high adoption rate by the wind energy industries.
Moreover, the presence of tremendous building
construction projects in this region is predicted
to propel the growth of the market. North
American GFRP Market is predicted to witness a
tremendous growth on account of high consumption
potential, increasing production capacities, and
rising economic growth rate. In Europe, the
demand for GFRP is predicted to grow in various
countries such as Italy, Germany, Spain, U.K,
France, and Russia on account of increasing
expenditure in innovation and growing purchasing
power of consumers. Moreover, presence of major
automobile manufacturers specifically in Germany
is expected to give momentum to the market
growth. Latin American countries such as
Argentina, Colombia, and Brazil are also
predicted to witness new economic projections for
Latin America and the Caribbean show moderate
recovery over the forecast period and growth with
favored expansions in consumption and domestic
investment. GFRP based construction materials are
expected to drive this region market over the
forecast period. Asia Pacific GFRP market is
predicted to grow with the moderate CAGR due to
continuous growth of automotive sector in various
economies of Asia Pacific such as China, India,
Malaysia, Thailand, and Japan is expected to
raise the demand for synthetic lubricants which
in turn is predicted to fuel the demand for GFRP
over the forecast period, 2017 to
2023. Segmentation The Global GFRP Market is
categorized on the basis of reinforcing material
type, end user industry, and region. On the basis
of reinforcing material type, the market is
bifurcated into polyester, epoxide, polyamide,
and others. On the basis of end user industry,
the GFRP market is categorized into building
construction, marine, transportation, chemical
plants, renewable energy, and others. On the
basis of region, the market is categorized into
Asia Pacific, Europe, Latin America, North
America, and the Middle East Africa.
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Glass Fiber Reinforced Plastic (GFRP) Market -
2023
Key Players Some of the prominent players
operating in the Global GFRP Market are Owens
Corning (U.S.), Jushi Group Co., Ltd. (China),
Chongqing Polycomp International Corporation
(China), PPG Industries, Inc. (U.S.), Johns
Manville Corporation (U.S.), Saint-Gobain
Corporation (U.S.), Nippon Sheet Glass Co., Ltd.
(Japan), Taishan Fiberglass Inc. (China), AGY
Holding Corp. (U.S.), Asahi Fiber Glass Co., Ltd.
(Japan), Binani Industries Limited (India),
Celanese Corporation (U.S.), SAERTEX GmbH Co.
KG (Germany), NITTOBO ASIA Glass Fiber Co. Ltd.
(Taiwan), and BGF Industries, Inc. (U.S.) among
others. Intended Audience GFRP
Manufacturers Traders and Distributors of
GFRP Production Process Industries Potential
Investors Raw Material Suppliers Nationalized
Laboratory
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