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.
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