Glass Fibre Reinforced Plastic Composites to Make Increased Impact on Market
May 9, 2019
Glass fibre is lightweight and durable compared to other carbon fibres, it has low brittleness and is cost effective to make. In addition, compared to metals, glass fibres can be used in different moulding techniques with a smoother finish.
Today, almost 90% of reinforcements used in composites are glass fibres, and glass fibre reinforced plastic (GFRP) composites are used in a wide range of industries; from aerospace, aviation, automotive, construction, wind energy and for piping and anti-corrosive equipment. The growing demand of GFRP composites is expected to drive the market up in the next years.
North America and Asia are the biggest producers and consumers of products made from glass fibre and glass fibre reinforced plastic, accounting for 50% of the global market. The infrastructure developments and construction industry in emerging economies are anticipated to increase demand in the coming years. In North America, the market for glass fibre reinforced plastic composites is driven by the defence, automotive, aerospace and construction industries.
In Europe, glass fibre reinforced plastic composites are widely used to replace lower strength plastics, along with the industries mentioned above; aerospace, construction and wind energy.
An upcoming market study of the worldwide GFRP market will include the entire system, covering the main regions of the industry; Europe, Asia Pacific, North America, Latin America and the Middle East and Africa and indicate the estimates of sales revenue and consumption up to 2025 at a global level. The study will aim to address critical questions too. This includes the market size of the GFRP market on a global scale. The study will also cover the preferred distribution of glass fibre reinforced plastic by manufacturers of the material as well as the key factors driving the industry forward.
The study will also be sharing data on the leading regions of the GFRP industry and why, as well as the anticipated growth rate in these locations. Another question being answered in the study will cover how the emerging industries using glass fibre reinforced plastic will perform in the next five to ten years and how the consumption of the material will develop in the future.
Discovering the outcomes of this upcoming study will be interesting. Don’t hesitate to get in touch with Textile Technologies for information on the products we produce and distribute across industries, from fibreglass insulation to other heat resistant materials