Boston, MA -- (ReleaseWire) -- 05/05/2014 -- Glass Fiber & Glass Fiber Reinforced Plastic (GFRP) Composites Market by Raw Material, Manufacturing Process, Application (Transportation, Construction, Electrical & Electronics, & Others) & by Geography - Global Trends & Forecast to 2019
Glass fiber reinforced (GFRP) Composites is the largest segment in the composites industry, worth several billions. Glass fiber is made from extremely fine fibers of glass. It is a lightweight, extremely strong, and robust material. Although strength properties are somewhat lower than carbon fiber and it is less stiff, the material is typically far less brittle, and the raw materials are much less expensive. Its bulk strength and weight properties are also very favorable when compared to metals, and it can be easily formed using molding processes. The glass fibers are most extensively used as a raw material for composite materials. Glass fiber accounts for about 90% of the reinforcements used in composite consumption, globally. Most of the GFRP Composites are used in construction and transportation sectors. The demand for renewable energy in the form of wind turbines, demand for light-weight fuel efficient aircrafts & cars, and the demand for GFRP pipe, tank and other corrosion resistant equipment are major drivers increasing its demand in the coming years.
The GFRP composites report analyzes GFRP composites market by type of raw materials, manufacturing processes, and applications; globally and regionally. The report familiarizes the industry players with the market trends, opportunities, drivers, and challenges. This report identifies the factors driving or inhibiting the growth of each segment to support its analysis of market trends and forecasts. In addition to the market size, data trends, and forecasts; the report also highlights the key market opportunities for the stakeholders and draws a competitive landscape in which the key market developments of the top companies in the market are profiled.
The global Glass Fiber Reinforced Plastic (GFRP) Composites market is estimated to grow at a CAGR of 7.4% from 2014 to 2019 to reach a value of $45.12 billion. The GFRP composites market by raw material type is projected to grow at a CAGR of 7.1% during the review period. Due to increasing infrastructure & construction projects in the Asia-Pacific, especially in India and China, the emerging regions are expected to register maximum growth.
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