Global GF and GFRP Composites Market 2016-2020
About Composite Materials
Composite materials are made of two or more materials with distinct physical and chemical properties, which when combined form a material that has characteristic properties different from the individual materials. GFRP composites are fiber-reinforced polymers that are made of plastic and reinforced with glass fibers (GFs) in a continuous stranded manner. The plastic used for producing GFRP composites may be a thermoplastic or a thermoset plastic (mostly epoxy, polyester, or vinyl ester).
Technavio’s analysts forecast the global GF and GFRP composites market to grow at a CAGR of 7.18% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global GF and GFRP composites market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of GF and GFRP for end-users such as transportation, construction and infrastructure, consumer goods, electrical and electronics, marine, and other by considering 2015 as the base year.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global GF and GFRP Composites Market 2016-2020
Technavio recognizes the following companies as the key players in the global GF and GFRP composites market: Asahi Glass, China Beihai Fiberglass, Jushi, Nippon Electric Glass, PPG, and Saint-Gobain.
Other Prominent Vendors in the market are: Binani Industries, Chongqing Polycomp International, Fiberex Technologies, Taishan Fiberglass, and Taiwan Glass Industry.
Commenting on the report, an analyst from Technavio’s team said: “Advances in technology will be a key trend for market growth. With the imposition of stringent regulations and the intensifying competition, innovation has become a prime focus area for most manufacturers. Leading players ensure the best quality products at optimum costs and adopt the use of various technologies. For instance, Audi introduced suspension springs made of GFRP composites, which are corrosion resistant. Owens Corning introduced Performax SE4849 Type 30 Roving for LFRT polypropylene. The product is designed to provide resistance to noise and outstanding wet-out and dispersion. These benefits would enable compounders to run their lines up to 40% faster.”
According to the report, one of the key drivers for market growth will be urbanization and infrastructure development. The construction industry is the prominent end user of composites. This is attributable to the design flexibility, corrosion resistance, durability, easy installation, weatherproofing, and lightweight properties of composites. In the construction industry, composites are used in walls, roofs, flooring, windows, doors, replacement of steel beams in buildings and bridges.
Further, the report states that , a broader use of composite materials and structures will require innovations in design, in-depth predictive modeling, robust characterization of material properties, performance validation, and process automation. Therefore, the challenge is to optimize the energy-intensive processes involved in the production of composites.
Asahi Glass, China Beihai Fiberglass, Jushi, Nippon Electric Glass, PPG, Saint-Gobain, Binani Industries, Chongqing Polycomp International, Fiberex Technologies, Taishan Fiberglass, Taiwan Glass Industry.
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