GFRTP Plates Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
As the market has evolved from 2018 to 2022, advancements in manufacturing technologies and improvements in resin formulations played a significant role in the growth of GFRTP plates. With an increasing emphasis on sustainable and eco-friendly materials, the use of GFRTP plates has been rising, particularly in automotive and aerospace applications where reducing vehicle weight is a key factor in meeting fuel efficiency standards and regulatory requirements. Notable market players have focused on enhancing the material’s properties, such as enhancing its thermal stability, improving surface finish, and developing easy-to-assemble solutions.
The outlook for the GFRTP plates market from 2023 to 2033 shows significant growth potential, as demand for lightweight, high-strength materials is expected to increase exponentially. The automotive sector, in particular, is expected to be a key driver of this growth, as the demand for electric vehicles (EVs) continues to rise. EVs require materials that not only reduce weight but also improve safety and performance, making GFRTP plates an ideal material choice. Furthermore, advancements in manufacturing techniques, such as injection molding and compression molding, are anticipated to increase the adoption of GFRTP plates, lowering production costs and enhancing overall market accessibility.
Moreover, the growing emphasis on environmental sustainability and fuel efficiency in transportation and construction sectors is expected to further boost demand for GFRTP plates. By 2033, the market is likely to see a substantial increase in adoption, with manufacturers looking to replace traditional materials like steel and aluminum with GFRTP due to the latter’s superior properties, cost-effectiveness, and reduced carbon footprint. The expansion of GFRTP plates into industries like electronics and renewable energy is also anticipated to provide a significant growth avenue for the market.
Get an In-Depth Research Analysis of the Global GFRTP Plates Market Size And Forecast [2025-2032]
The Global Fiber Reinforced Thermoplastic (GFRTP) Plates market has witnessed steady growth from 2018 to 2022, driven by increasing demand for lightweight, durable, and versatile materials across various industries like automotive, aerospace, and construction. The demand for GFRTP plates surged during this period as manufacturers sought alternatives to traditional metals to reduce weight, enhance performance, and meet stringent environmental regulations. GFRTP plates offer high mechanical properties, including strength, stiffness, and impact resistance, which made them ideal for applications in industries such as automotive, aerospace, and construction.
BASF
SABIC
Asahi Kasei Corporation
Lanxess
Avient
SGL Carbon
Toray
Celanese
Solvay
Covestro
Teijin
US Liner
Alformet
Complam Material
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global GFRTP Plates Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global GFRTP Plates Market
Aerospace
Automotive
Electronic and Electrical
Construction
Others
Based on Types the Market is categorized into Below types that held the largest GFRTP Plates market share In 2023.
Long Glass Fiber GFRTP Plates
Short Glass Fiber GFRTP Plates
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ GFRTP Plates Market Research Analysis
1. Introduction of the Global GFRTP Plates Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global GFRTP Plates Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global GFRTP Plates Market, By Type
6. Global GFRTP Plates Market, By Application
7. Global GFRTP Plates Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global GFRTP Plates Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/