A recent
report ongoing study by Infinium Global Research on the glass fiber reinforced
polymer market provides an in-depth analysis of segments and sub-segments in the
GCC as well as regional glass fiber reinforced polymer market. The study also
highlights the impact of drivers, restraints, and macro indicators on the GCC and
regional glass fiber reinforced polymer market over the short term as well as
long term. The report is a comprehensive presentation of trends, forecasts, and
dollar values of the GCC glass fiber reinforced polymer market. According to
the report, the GCC glass fiber reinforced polymer market is projected to grow
at a significant CAGR over the forecast period of 2022-2028.
glass fiber
reinforced polymers have been manufactured using a variety of techniques and
are widely employed in a variety of applications. Glass fibers produced from
heat softened glass were first used by ancient Egyptians to make vessels. glass
fiber reinforced polymer for high-temperature electrical applications was first
made in the 1930s. It is now employed in electronics, aircraft, and vehicle
applications, among other things. glass fiber reinforced polymer have great
qualities such as strong strength, flexibility, stiffness, and chemical
resistance. GFRP is similar to CFRP in that it is the recommended material for engineers
trying to improve their product design. The automotive, aerospace,
construction, and marine industries all use glass fiber reinforced polymers.
There is a
high demand from end user industries due to the high tensile strength,
durability, non-corrosive, lightweight, and high-pressure capacity
characteristics of glass fiber reinforced polymer. The glass fiber reinforced
polymer's many qualities have led to its widespread use in end-user industries.
Construction, energy, aerospace, and other end-user industries have begun to
utilize this polymer on a large commercial scale, increasing demand in the GCC
region. Another element boosting market growth is the rapid expansion of glass
fiber reinforced polymer applications. As the number of research studies done
increases, new applications are emerging. The emerging new applications provide
ample opportunities for market players to develop new products. Furthermore,
the market players are working on localizing the production of glass fiber
reinforced polymers for better serve their customers in the GCC region. Though,
the volatility in the raw material prices may hamper the growth of the market.
Rising investments in R&D of new glass fiber reinforced polymer are
expected to offer new opportunities
Saudi Arabia
is expected to be the largest market of glass fiber reinforced polymer in the
GCC region and held the largest revenue share in 2020. Saudi Arabia is one of
the major countries with high demand for glass fiber reinforced polymer in the
GCC region. Also, the country is establishing manufacturing facilities for
producing glass fiber reinforced polymer locally in the country which is
further expected to strengthen the market in Saudi Arabia. Saudi Arabia is
modernizing itself at a rapid pace by investing in its infrastructure and other
industries. As a result, the construction industry has received a major boost.
Projects such as the Future Mega City project which is worth USD 500 billion
offer opportunities for the market players. Furthermore, Saudi Arabia is
improving its renewable energy capabilities for ending its dependence on
conventional sources and has put a huge focus on its aerospace program. Both
energy and aerospace industries use glass fiber reinforced polymers. UAE is
expected to be the second-largest market in the region as the construction
industry in UAE is strong.
The report
on the GCC glass fiber reinforced polymer market covers segments such as
material, and end users. 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, PPG Industries, Inc., Taishan Fiberglass
Inc, and Fiber Technic Ltd., Dextra Group, IKK Mateenbar Limited, and Saudi K-KEM.
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 GCC glass fiber reinforced polymer
market. Moreover, the study highlights current market trends and provides
forecasts for 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.