Glass Fiber and GFRP Composites Market: Snapshot

The rising demand for GFRP composites and glass fiber from various end-use industries such as construction and materials, pipes and tanks, and energy development sectors are expected to help the global glass fiber and GFRP composites market gain significant momentum during the forecast period, 2020-2030. Glass fiber is of various types such as composite and insulated and the combination of various fine glass filaments forms a glass fiber. Silica forms the base material of any glass fiber, formed as a result of numerous manufacturing processes such as staple fiber process, formation, melting, and others. The wide uses of this glass fiber for the reinforcement of various materials stand as a key factor promoting its growth.

The report offers a 360-degree overview of the global glass fiber and GFRP composites market and its growth patterns. It focuses on key trends, current product launches, and recent innovations. The report also discusses the key drivers, restraints, leading players and dominating segments of this market. It also provides an additional angle on the impact of COVID-19 pandemic on the global glass fiber and GFRP composites market and discusses the if’s and but’s or the upcoming opportunities that this pandemic may bring upon the market in the coming years.

The global glass fiber and GFRP composites market is categorized on the basis of resin, end-use industry, manufacturing, and geographical segmentation. In terms of resin, the market is classified into polyurethane, polyester, epoxy, vinyl ester, and others. Based on the end-use industry, the market is divided into wind energy, pipes & tanks, electrical & electronics, transportation, marine,  aerospace & defense, and others. 

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Glass Fiber and GFRP Composites Market: Competitive Landscape

The nature of the global glass fiber is highly competitive. The declaration of CFRP and GFRP as recyclable materials by the European Composites Industry Association further intensified the competition among players. However, some issues are still under rectification in terms of product quality, quantity, and recycling ability. Organizations are attempting to help lessen a worldwide temperature alteration and investigate the capability of composites to decrease ozone harming substance outflows. Be that as it may, the trouble in reusing GFRP composites is a hindrance particularly in the development and car ventures, where the strain to reuse is high. Some of the players operating in this market include Asahi Fiber Glass, CPIC, Saint Gobain, Nippon Sheet Glass, Taishan Fiberglass, PPG Industries, Owen Corning, and AGY Holding, Nippon Sheet Glass, and others.

Glass Fiber and GFRP Composites Market: Recent Innovations

The utilization of fiberglass in various items fluctuates from fundamental (pipes, tanks electrical, and so on) to profoundly particular areas including car, wind energy, guard, aviation, transportation, marine, hardware, purchaser products, and development is the biggest market. Assortment in surface, climate safe, quality, and lightweight credits of fiberglass have added to its developing interest in the referenced areas. There has likewise been a move in focal point of firms, investigating new roads for fiberglass utilization. Extension as of late in the market has additionally encouraged an interest gracefully hole that should be filled utilizing options. Creative assembling measures and new item advancement are wanted to infiltrate into immersed showcases and venture into new ones.

Glass Fiber and GFRP Composites Market: Regional Insights

Asia Pacific rules the worldwide glass fiber and GFRP composites market with North America in close competition. China is the biggest maker and provider among the arising economies, likewise being a top fiberglass item purchaser.  The USA stands as the biggest producer as well as purchaser of fiberglass. Germany in Europe is the biggest maker, trailed by the UK, Spain, Italy, and France. Arising nations of Brazil and India have additionally been demonstrating development possibilities with an expansion popular. Development areas will drive the glass fiber and glass fiber fortified plastic composites market in the Middle East and Africa locales. Innovative work exercises for the creation of high caliber and execution items are driven by European countries and the USA. The market chief in this section is Owens Corning particularly after the obtaining of St. Gobain.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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