Global GFRP Composites Market 2018-2022 - Increasing Number of Wind Energy Capacity Installations is Driving the Market

DUBLIN, Jan. 26, 2018 /PRNewswire/ --

The "GFRP Composites Market by End-Use Industry (Transportation, Electrical & Electronics), Resin Type (Epoxy, Polyester, Vinyl Ester), Manufacturing Process (Compression & Injection Molding, RTM/VARTM, Layup,) and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The global Glass Fiber Reinforced Plastics (GFRP) composites market is projected to grow from USD 43.93 billion in 2017 to USD 59.87 billion by 2022, at a CAGR of 6.4% from 2017 to 2022.

The major factor driving the GFRP composites market is the high demand for GFRP composites from the transportation, electrical & electronics, wind energy, and pipes & tanks industries. However, the difficulty of recycling GFRP composites and high cost is a major factor restraining their use in various applications and hindering the growth of the global GFRP composites market.

The compression & injection molding manufacturing process offers several advantages, including fast cycle time, low labor cost, low scrap rate, and low mold-clamping pressure. It is widely used in GFRP composite applications such as transportation and electrical & electronics industries. These composites are used for the production of bumpers for vehicles, panels for electrical equipment, enclosures for medical devices, and others. These are the key applications of GFRP composites, thus driving the use of the injection molding process to manufacture various GFRP composite components.

The Asia Pacific region is expected to be the fastest-growing market for GFRP composites during the next 5 years. This market in Asia Pacific is driven by the increasing consumption of GFRP composites in various industries such as wind energy, construction & infrastructure, electrical & electronics, and transportation. China is leading the Asia Pacific GFRP composites market. The wind energy industry in China witnessed the highest number of wind energy installations in 2016 and added a new capacity of 23,328 MW.

Market Dynamics

Drivers

• Increasing Number of Wind Energy Capacity Installations
• Increasing Adoption of GFRP Composites in the Transportation Industry
• Recovery of the US Marine Industry
• Increasing Use of GFRP Composite Pipes in Sewage & Water Management and Oil & Gas Industry
• Increasing Use of GFRP Composites in the Construction & Infrastructure Industry

Restraints

• Issues Related to Recycling
• High Processing and Manufacturing Costs

Opportunities

• Increasing Demand for GFRP Composites From Construction & Infrastructure Industry in the MEA
• High Demand for GFRP Composite Pipes in the Emerging Economies

Challenges

• Developing Low-Cost Technologies

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Macroeconomic Overview and Key Trends

7 GFRP Composites Market, by Resin Type

8 GFRP Composites Market, by End-Use Industry

9 GFRP Composites Market, by Manufacturing Process

10 GFRP Composites Market, by Region

11 Competitive Landscape

12 Company Profiles

• AGY Holdings Corp.
• Advanced Composites Inc.
• Asahi Fiber Glass Co., Ltd.
• BGF Industries, Inc.
• Binani Industries Ltd.
• Celanese Corporation
• China Beihai Fiberglass Co., Ltd.
• China National Building Material Company Ltd.
• Chongqing Polycomp International Corporation
• Jiangsu Jiuding New Material Co., Ltd.
• Johns Manville Corporation
• Jushi Group Co., Ltd.
• Nippon Sheet Glass Co. Ltd.
• Nitto Boseki Co., Ltd.
• Owens Corning
• PFG Fiberglass Corporation
• PPG Industries, Inc.
• Quantum Composites
• Reliance Industries
• Saertex GmbH
• Saint-Gobain S.A.
• Taishan Fiberglass, Inc.

For more information about this report visit https://www.researchandmarkets.com/research/9s5klz/global_gfrp?w=5

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SOURCE Research and Markets