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Global Glass Fiber (GF) And Glass-Fiber-Reinforced Plastic (GFRP) Composites Market To Benefit From Rising Demand For Lightweight Vehicles

Press Release   •   Oct 05, 2016 05:46 EDT

The global market for glass fiber (GF) and glass-fiber-reinforced plastic (GFRP) composites is examined in a detailed market research report that recently made it to the portfolio of The report, titled “Global GF and GFRP Composites Market 2016-2020,” states that the market will exhibit a healthy 7% CAGR over the said period, driven largely by the high demand for lightweight materials in the transportation industry.

Lightweight fiberglass components are witnessing significant demand in the transportation industry as weight reduction can help augment the fuel efficiency of vehicles. Additionally, the strain and abrasion resistance properties of composites also help enhance the lifespan of components. The global GF and GFRP market is also driven by the rising global emphasis on green buildings.

In the construction sector, fiberglass helps enhance factors such as strength, thermal efficiency, and durability of a construction project. When it comes to sustainability, architectural products made from fiberglass find more preference as compared to products made from other materials owing to their excellent physical and thermal performance.

On the basis of product variety, the global GF and GFRP market is segmented into S-glass, E-glass, and C-glass. Of these, the segment of S-glass holds the dominant position in the market throughout the forecast period. S-glass is characterized by 30%-40% higher tensile strength and nearly 20% more elasticity modulus as compared to E-glass. Additionally S-glass also has higher resistance to fatigue and impact.

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On the basis of end-use application, the market for GF and GFRP is segmented into transportation, construction and infrastructure, consumer goods, electrical and electronics, and construction and infrastructure. Of these, the market earns a significant share in revenues from the transportation industry. The segment is also expected to retain its dominance in the global market by 2020, chiefly owing to the wide usage of S-glass in automobiles. The rising demand for reducing weight of vehicles to make them more fuel efficient and environment-friendly, S-glass components are being increasingly used as a variable replacement for steel and aluminum parts.

The report also segments the market on the basis of geography and presents a detailed overview of the key factors that are impacting the development of the GF and GFRP industries in Americas, EMEA, and APAC. The numerous opportunities and threats faced by vendors operating across these regional markets have been analyzed at depth.

The competitive landscape of the market is prominently dominated by few established players who focus on product innovations and expansion of production capacities to gain a larger share in the pie. It has also been observed that market players having better access to finances and technical resources have remained at influential positions in the past years.

Some of the key vendors in the market are China Beihai Fiberglass, Asahi Glass, Nippon Electric Glass, Jushi Group, Saint-Gobain, Chongqing Polycomp International, Taishan Fiberglass, Fiberex Technologies, Taiwan Glass Industry, and Binani Industries.

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