Report Details:
15 Companies Covered
111 Pages
Glass Fiber Reinforced Plastic Market Overview
The glass fiber reinforced plastic (GFRP) market was valued at USD 40.27 billion in 2024 and is projected to reach USD 78.14 billion by 2035, expanding at a CAGR of 6.21% from 2025 to 2035.
The market growth is driven by rising demand from end-use sectors, including building and construction, transportation, marine, chemical plants, and renewable energy. The lightweight nature of GFRP, combined with its high strength, corrosion resistance, and durability, positions it as a preferred material over traditional metals and concrete.
Increased adoption in the automotive and wind energy industries, along with growing usage in infrastructure projects due to urbanization and rising disposable incomes, continues to fuel market expansion.
Advancements in manufacturing technologies, such as automated fiber placement and resin transfer molding, are improving production efficiency and quality, enabling wider application of GFRP across diverse industries.
Segment Insights
The market is segmented based on reinforcing material into polyester, epoxide, polyamide, and others. In 2022, the polyester category held the largest market share and is expected to maintain dominance from 2022 to 2032.
Polyester resins remain the most widely used due to properties such as minimal shrinkage, high strength, efficient electrical insulation, excellent adhesion, chemical resistance, low toxicity, and cost-effectiveness.
Based on end-use industry, the market is categorized into building and construction, marine, transportation, chemical plants, renewable energy, and others. In 2022, the building and construction segment dominated the market, as GFRP is lightweight, long-lasting, and easy to work with, making it suitable for panels, roofing, and pipes.
Rising residential real estate investment and demand for modern construction techniques are influencing segment growth. Increased vehicle manufacturing and the need for lightweight automotive components are also boosting demand.
In transportation, material weight reduction leads to increased mileage and lower fuel costs. GFRP is also used in aerospace, marine, and renewable energy applications, including wind turbine blades.
Market growth is further supported by rising disposable incomes, increasing awareness regarding the benefits of GFRP pipes in construction, and expanding applications in automotive and aerospace manufacturing.
Regional Insights
The market is studied across North America, Europe, Asia-Pacific, and the Rest of the World. North America dominated the market due to an increase in wind energy capacity installations, adoption of GFRP pipes in sewage and water management, increased production capacity, and strong consumption potential.
Europe accounted for the second-largest share, driven by the increased need for lightweight materials in automotive and construction. Germany holds the largest market share in the region, while the UK is the fastest-growing.
The Asia-Pacific region is expected to grow at the fastest CAGR from 2023 to 2032, driven by the material’s high strength, low maintenance, and superior physical qualities. China held the largest market share in the region, while India is the fastest-growing market.
Key Players
Leading companies operating in the market include:
Owens Corning (US), Jushi Group Co., Ltd. (China), Chongqing Polycomp International Corporation (China), PPG Industries, Inc. (US), Johns Manville Corporation (US), Saint-Gobain Corporation (US), Nippon Sheet Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (China), AGY Holding Corp. (US), Asahi Fiber Glass Co., Ltd. (Japan), Binani Industries Limited (India), Celanese Corporation (US), SAERTEX GmbH and Co. KG (Germany), NITTOBO ASIA Glass Fiber Co. Ltd. (Taiwan), and BGF Industries, Inc. (US).
Companies are focusing on R&D, capacity expansion, mergers, acquisitions, product innovation, and collaboration.
For instance, Owens Corning announced an increase in GFRP production capacity in China, and Jushi Group announced a new GFRP production line in the US with annual capacity of 80,000 metric tons.
Industry Developments
- In April 2022, Hammerite Ultima was launched as a water-based paint for metal applications.
- In March 2022, Brillux expanded its Lignodur range for wood surface protection.
- In March 2022, AkzoNobel inaugurated a global R&D center in the UK to support decorative paints innovation.
Key Findings
- The GFRP market is projected to reach USD 78.14 billion by 2035 at a 6.21% CAGR.
- Polyester resin remained the dominant reinforcing material due to its low cost and strong performance.
- Building and construction was the leading end-use segment in 2022.
- Asia-Pacific was the fastest-growing regional market, while North America held the largest share.
- Companies are expanding production capacity and investing in R&D to improve GFRP performance and sustainability.
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