Glass Fiber Composites Market - Growth and Opportunities in Global Automotive Composites Market

The global Glass Fiber Composite Market is underlying to project highest growth with a relatively high CAGR during forecast period. Glass in its simplest form is the largest industry in the segment and glass fiber is made from glass and is light-weight and is an extremely strong and robust material. Growth is extraordinary in composites being the most significant and largest in composite segment — momentum of composite is largest as compared to other composite segments. The resurrection of the global economy and diverse growth of end-user markets drives growth in markets. Alternative markets such as wind-energy and the ever–resilient defense sectors are drivers to growth of the market.

The GPRF market is expected to evince high growth at nearly high rates. Restraint to the markets exists and includes availability of raw materials, increasing prices of energy and changing regulations. A drive to meet increasing expectations from Growing CRPF composites market is being followed. Glass fibers are made from molding process and are used as raw material for composite materials. Glass fibers account for nearly hundred percent of global glass consumption in market. The property of low-weight, strength and corrosion resistance drive growth in transportation, construction, infrastructure, electrical and electronics, consumer goods, marine, aerospace and defense and wind energy segments.

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Most of the glass fiber reinforced plastics (GFRP) composites are used in construction and transportation sectors. The demand for renewable energy in the form of wind turbines, demand from light-weight and fuel efficient cars and other corrosion resistant equipment are major drivers to the market. Asia pacific is expected to register fortuitous growth because of rapid construction activities undertaken on large-scale and infrastructure activities. The US and Europe are considered to be leaders of research and development of high-glass fiber products for transportation, defense and aerospace, construction and maintenance, electrical and electronics and consumer goods, marine and wind energy segments.

Segmentation of glass fiber market by region includes North America, Europe, Asia pacific, MEA and Latin America. China and India are the largest consumer of GFRP composites and are the highest in Asia pacific with maximum potential in both nations. Germany, France, Italy, Spain, England, and EU are the most important markets and constitute majority of the market size. The Key players include AZDEl Inc., CPI Binani Inc., Continental Structural Plastics, Core Molding technologies, CTL Aerospace, Inc., QDow Corning Corporation, Fiber Concepts, Fiber Incorporated, Fiber Reinforced Plastics, Glasforms, Inc., The Composites Group, Washington Penn Plastic Companies, and Premix Incorporated.

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