A recent report ongoing study by
Infinium Global Research on the glass fiber reinforced polymer market provides
in-depth analysis of segments and sub-segments in the BRICS as well as regional
glass fiber reinforced polymer market. The study also highlights the impact of
drivers, restraints, and macro indicators on the BRICS and regional glass fiber
reinforced polymer market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the BRICS glass fiber reinforced polymer market. According to the report, the BRICS
glass fiber reinforced polymer market is projected to grow at a significant CAGR
over the forecast period of 2022-2028.
Glass fiber reinforced polymers
are manufactured using can be made utilizing a range of processes and employing
different technologies. They are being widely used in a range of applications
across industries. Glass fibers are being used since ancient times, Ancient
Egyptian first used glass fibers produced from heat softened glass for making
containers. For high-temperature electrical applications, the first glass fibers
were developed in the 1930s. Since then, its applications have been found in various
industries. The primary properties of glass fiber reinforced polymers are
flexibility, high strength, chemical resistance, lightweight, stiffness, and
others. Like CFRP, GFRP is a preferred material for professionals and engineers
who want to improve the design of their products. Automotive, aerospace,
construction, and marine are a few of the industries where glass fiber reinforced
polymers are used.
In BRICS countries end user
industries such as marine, construction, automotive and aerospace are rapidly
growing. Therefore these industries are using materials that satisfied their
needs. The extensive characteristics of the glass fiber reinforced polymer have
made it desirable for use in these industries. As a result, these end user
industries are turning towards glass fiber reinforced polymer due to its extensive
properties. Furthermore, there are many new applications of the glass fiber
reinforced polymer that are coming forth across industries which has also
significantly increased its demand. These factors are majorly driving the market. Though, the high volatility in raw material
prices may hamper the growth of the market. New opportunities are expected
as the investments in R&D of new glass fiber reinforced polymers are
growing.
China is expected to be the glass fiber reinforced polymer market in the BRICS region. China is a
rapidly emerging economic and industrial superpower. Many end user industries
such as automotive, aerospace, construction, and marine have flourished in China
and are in advanced stage. Thus, conventionally the demand for glass fiber
reinforced polymer is high in the country. Apart from foreign market players,
local companies such as Xiamen LFT Composite Plastic Co., Ltd and Changzhou
Pengyu Frp Pressure Vessel Co., Ltd have established themselves in the market.
With an eye on the largescale end user industries and benefit from the low
labor cost, high technological base, and highly skilled workforce many foreign
market players such as BASF SE, Owens Corning, and others have established their
manufacturing facilities in China. Also, the rules and regulations are
favorable for establishing manufacturing facilities in China. India is expected
to be the second largest market after China as the end user industries in India
are also growing rapidly.
The report on the BRICS glass fiber
reinforced polymer market covers segments such as material, and end user.
On the basis of material, the sub-markets include vinyl ester, polyester,
polyamide, polyurethane, and others. On the basis of end user, the sub-markets
include automobile, marine, construction, aerospace and defense, energy, and
others.
The report provides profiles of
the companies in the market such as BASF SE, Owens Corning, Jushi Group, Saint
Gobain, Changzhou Pengyu Frp Pressure Vessel Co., Ltd, Taishan Fiberglass Inc,
Fiber Technic Ltd., Everest Composites Pvt. Ltd., Xiamen LFT Composite Plastic
Co., Ltd, and Nippon Sheet Glass.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and restraining
the growth in this market. Moreover, The IGR-Growth Matrix analysis given in
the report brings an insight into the investment areas that existing or new
market players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of the BRICS
glass fiber reinforced polymer market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.