Glass fibre and reinforced plastic composites market forecast

GrandViewResearch has announced the release of “Global Glass Fiber and Glass Fiber Reinforced Plastic (GFRP) Market Analysis And Segment Forecasts To 2020″ Market Research report to their range of offerings.

Glass fibre is a lightweight and durable fibre produced from very fine fibres of glass. Compared to carbon fibres, they show low brittleness and are more cost effective, and

compared to metals, have better properties both strength and weight-wise. Glass fibres can also be smoothly formed using different moulding techniques.

They are widely used for producing distinct types of composite materials. Manufacturing glass fibre reinforced plastic (GFRP) composites, the largest class of composite materials, is the most important application of glass fibres and almost 90% of the reinforcements used in the composites industry are glass fibres.

GFRP composites are extensively used in a diverse range of industries including wind energy, construction, automotive, aerospace, piping and anti-corrosive industrial equipments. The growing demand for GFRP composites from transportation and construction industries is anticipated to drive the global glass fibre and glass fibre reinforced plastic (GFRP) composites market in the next six years.

Asia Pacific and North America are the largest producers and consumers of glass fibre and glass fibre reinforced plastic (GFRP) composites. Both these regions together account for more than 50% of the global market for glass fibre and glass fibre reinforced plastic (GFRP) composites.

The infrastructure development and growing construction industry in emerging economies such as China and India is anticipated to drive the demand for glass fibre and glass fibre reinforced plastic (GFRP) composites in Asia Pacific in the next six years. The North American market for glass fibre and glass fibre reinforced plastic (GFRP) composites is primarily driven by the growing demand from construction, automotive, aerospace, wind energy and defence industries in the U.S.