Lucintel’s latest market report analyzed that glass fiber reinforced plastic provides attractive opportunities in transportation, marine, aerospace, construction, wind energy, pipe and tank, electrical & electronics industry. The glass fiber reinforced plastic market is expected to reach $37.2 billion by 2026 with a CAGR of 4.5%. In this market, transportation is the largest segment by end use industry, whereas injection molding is largest by manufacturing process. The penetration of low dielectric glass fiber in high performance PCB provides strategic growth path in this market.
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Based on end use industry, the glass fiber reinforced plastic market is segmented into transportation, marine, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy. The transportation segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to the government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight, and this is the key driver for glass fiber in the transportation industry.
Browse in-depth TOC on “Glass Fiber Reinforced Plastic Market”
135 – Tables
179 – Figures
325 – Pages
The glass fiber reinforced plastic Market is marked by the presence of several big and small players. Some of the prominent players offering glass fiber reinforced plastic include Owens Corning, Jushi Group Co., Ltd., Chongqing Polycarp International Corporation (CPIC), Taishan Fiberglass Inc., Nippon Electric Glass Co., Ltd.
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