DUBLIN, Dec 2, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "GFRP Composites Market By Resin Type, Manufacturing Process, Application and By Region - Global Forecast To 2026" report to their offering.
The global Glass Fiber Reinforced Plastics (GFRP) composites market is projected to grow from USD 44.10 Billion in 2016 to USD 60.33 Billion by 2021, at a CAGR of 6.47% during the forecast period
The GFRP composites market is growing due to the high demand from the wind energy & other emerging application industries such as electrical & electronics, and transportation. GFRP composites are preferred as they have the ability to reduce the weight of the product and are stronger than metallic parts. The GFRP manufacturing process improves productivity through innovative engineering approaches, minimizes energy consumption, and reduces the VOC emission levels. The GFRP composites market witnessed strong growth during the past few years due to the growing use of composites in the U.S., Germany, China, Brazil, and Japan.
The GFRP composites market is segmented on the basis of the manufacturing processes into compression molding, manual process, injection molding and the continuous process. Injection molding is the fastest growing, as well as the largest market for GFRP composites in terms of the manufacturing process. It is the most preferred process for the manufacture of GFRP composites, and accounted for a major share, in terms of value, in 2015. This is because the process enables low labor costs, low scrap rate, has a fast cycle time and low mold-clamping pressure. The process is widely applicable in the automotive and electrical & electronics industries for the production of bumpers for vehicles, panels for electrical equipment, enclosures for medical devices, and others.
The GFRP composites market is also segmented by application, which includes, wind energy, transportation, construction & infrastructure, electrical & electronics, and others. Wind energy accounts for the highest market share, as well as is the fastest growing application, owing to innovations in the integration of lightweight GFRP composites, which have facilitated the manufacture of increasingly larger blade lengths with increased stiffness. This is expected to increase the demand for GFRP composites from wind energy component manufacturers.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Segmentation
5.2.1 GFRP Composites Market, By Resin Type
5.2.2 GFRP Composites Market, By Manufacturing Process
5.2.3 GFRP Composites Market, By Application
5.3 Market Dynamics
5.3.1 Market Dynamics
18.104.22.168 Growing Wind Energy Installations
22.214.171.124 Increase in Use of GFRP Composites in End-Use Industries
126.96.36.199 Recovery of the Marine Industry in the U.S. After the Economic Recession
188.8.131.52 Increasing Demand for Lightweight Materials From the Transportation Industry
184.108.40.206 Recyclability Issues
220.127.116.11 Growing Demand for GFRP Composites in the Mena Region
18.104.22.168 to Reduce Capital and Technology Costs
5.3.6 Impact Analysis of Drivers
5.4 Porter's Five Forces Analysis
6 Macroeconomic Overview and Key Trends
7 GFRP Composites Market, By Resin Type
7.3 Vinyl Ester
7.6.1 Peek Resin
7.6.2 Phenolic Resin
7.6.3 Hybrid Resin
8 GFRP Composites Market, By Manufacturing Process
8.3 Compression Molding
8.4 Injection Molding
9 GFRP Composites Market, By Application
9.2 Wind Energy
9.3 Electrical & Electronics
9.5 Pipe & Tanks
9.6 Construction & Infrastructure
9.8 Aerospace & Defense
10 GFRP Composites Market, By Region
11 Competitive Landscape
12 Company Profiles
- 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.
For more information about this report visit http://www.researchandmarkets.com/research/7lxk2g/gfrp_composites
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SOURCE Research and Markets