Market Size

The global Glass Fiber Reinforced Plastics Composite market size was estimated at USD 31,240 million in 2023 and is projected to reach USD 42,208.11 million by 2032, with a CAGR of 3.40% during the forecast period.

North America's market size for Glass Fiber Reinforced Plastics Composite was valued at USD 8,621.63 million in 2023, growing at a CAGR of 2.91% from 2025 to 2032. 

Click Here to Download a free Sample Report PDF

Market Dynamics (Drivers, Restraints, Opportunities, and Challenges):

Drivers:

• Increasing demand for lightweight and high-strength materials in various industries.

• Growing emphasis on energy efficiency and sustainability driving adoption of composites.

• Advancements in manufacturing processes enhancing the performance of glass fiber reinforced plastics composites.

Restraints:

• High initial costs associated with the production and use of glass fiber reinforced plastics composites.

• Limited recyclability and environmental concerns related to composite waste disposal.

• Complex design requirements and specialized handling techniques for composite fabrication.

Opportunities:

• Development of bio-based and sustainable raw materials for composite production.

• Expansion into emerging markets with increasing industrialization and infrastructure development.

• Collaborations and partnerships for technological innovation and product advancement in the composite industry.

Challenges:

• Regulatory compliance and standards impacting the use of composite materials in different applications.

• Competition from alternative materials offering comparable performance characteristics.

• Supply chain disruptions and raw material availability affecting composite manufacturing and distribution.

Regional Analysis

North America

The North American Glass Fiber Reinforced Plastics Composite market is estimated at USD 8,621.63 million in 2023, with a moderate CAGR of 2.91% expected during 2025-203The region is driven by demand from industries like transportation, construction, and electricals & electronics.

Europe

In Europe, the market for Glass Fiber Reinforced Plastics Composite is influenced by countries like Germany, the UK, and France. The market size and growth trends indicate a strong demand for these composites in various sectors.

Asia-Pacific

Asia-Pacific, with countries like China, Japan, and India, shows a significant potential for market growth in the Glass Fiber Reinforced Plastics Composite segment. Rapid industrialization and infrastructure development in the region are fuelling the demand.

South America

South America, including countries like Brazil and Argentina, presents opportunities for market expansion, particularly in the construction and transportation sectors. The region is witnessing steady growth in the adoption of these composites.

Middle East & Africa

The Middle East and Africa region, with countries such as Saudi Arabia and the UAE, is gradually embracing Glass Fiber Reinforced Plastics Composites for various applications. Growth in construction and infrastructure projects is expected to drive market growth.

Competitor Analysis:

Major Competitors:

BASF, Lanxess, DSM, SABIC, Avient, DuPont, Solvay, Hexion, Celanese, RTP, Sumitomo Bakelite, Evonik, Daicel, Kolon, Denka, and Kingfa are the major competitors in the Glass Fiber Reinforced Plastics Composite market.

Market Share & Influence:

Among these competitors, BASF, DSM, and DuPont are known to have a significant market share and influence. They have a strong foothold in the industry and are considered leaders in the market.

Strategies:

Competitors in the market employ various strategies to maintain their position and drive growth. This includes investing in research and development for innovation, forming strategic partnerships to expand their reach, and focusing on competitive pricing strategies to attract customers.

Competitive Positioning:

Each company has its unique competitive positioning that differentiates them from others. BASF, for example, is known for its extensive product portfolio and focus on sustainability. DSM emphasizes technological advancements, while DuPont is renowned for its strong customer relationships and brand reputation.

Market Segmentation (by Application)

• Transportation

• Construction

• Electricals & Electronics

• Sport & Leisure

• Others

Market Segmentation (by Type)

• Thermoplastic Plastic

• Thermosetting Plastic

Key Company

• BASF

• Lanxess

• DSM

• SABIC

• Avient

• DuPont

• Solvay

• Hexion

• Celanese

• RTP

• Sumitomo Bakelite

• Evonik

• Daicel

• Kolon

• Denka

• Kingfa

Geographic Segmentation

• North America (USA, Canada, Mexico)

• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

• South America (Brazil, Argentina, Columbia, Rest of South America)

• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

FAQ 

01. What is the current market size of Glass Fiber Reinforced Plastics Composite Market?

Glass fiber reinforced plastic (GFRP) composites are composite materials made of resin reinforced with glass fiber, known for their high mechanical strength, light weight, corrosion and temperature resistant properties, thermal insulation, smooth internal surface, ease of complex shapes formation, repair ease, and cost-effectiveness. The global Glass Fiber Reinforced Plastics Composite market size was estimated at USD 31,240 million in 2023 and is projected to reach USD 42,208.11 million by 2032, with a CAGR of 3.40% during the forecast period. The North America market was valued at USD 8,621.63 million in 2023.

02. Which key companies operate in the Glass Fiber Reinforced Plastics Composite Market?

Major players in the Glass Fiber Reinforced Plastics Composite market include BASF, Lanxess, DSM, SABIC, Avient, DuPont, Solvay, Hexion, Celanese, RTP, Sumitomo Bakelite, Evonik, Daicel, Kolon, Denka, and Kingfa.

03. What are the key growth drivers in the Glass Fiber Reinforced Plastics Composite Market?

The key factors driving market growth include high demand for lightweight and durable materials in various industries, increasing adoption of GFRP composites in automotive and construction sectors, growing focus on energy efficiency and sustainability, and technological advancements in composite materials.

04. Which regions dominate the Glass Fiber Reinforced Plastics Composite Market?

The dominant regions in the Glass Fiber Reinforced Plastics Composite market are North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Each region contributes significantly to the market based on demand, supply, and market share.

05. What are the emerging trends in the Glass Fiber Reinforced Plastics Composite Market?

Emerging trends in the Glass Fiber Reinforced Plastics Composite market include increasing use of thermoplastic plastics, rising applications in transportation, growth in electricals & electronics sectors, and innovations in sports and leisure applications. There is also a focus on sustainability and recyclability of composite materials.

Click Here to Download a free Sample Report PDF

𝗠𝗼𝗿𝗲 𝗔𝗿𝘁𝗶𝗰𝗹𝗲𝘀 𝗙𝗿𝗼𝗺 𝟮𝟰𝗖𝗵𝗲𝗺𝗶𝗰𝗮𝗹 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

𝟮𝟰𝗖𝗵𝗲𝗺𝗶𝗰𝗮𝗹𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵: https://www.linkedin.com/company/24chemicalresearchold/

𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐭𝐲 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬:

https://www.linkedin.com/pulse/indium-iodide-market-sizedemand-supply-regional-competitive-o4hkc

https://www.linkedin.com/pulse/hot-melt-adhesive-deodorizer-market-sizedemand-supply-ob7zc

https://www.linkedin.com/pulse/indole-3-carboxaldehyde-market-sizedemand-supply-gkgie

https://www.linkedin.com/pulse/pharmaceutical-grade-hydroxypropyl-methylcellulose-a2kqe

𝐌𝐞𝐭𝐚𝐥𝐬 𝐚𝐧𝐝 𝐌𝐢𝐧𝐞𝐫𝐚𝐥𝐬:

https://www.linkedin.com/pulse/rolled-treated-copper-foil-market-sizedemand-supply-ktnic

https://www.linkedin.com/pulse/hot-dip-galvanized-steel-market-sizedemand-supply-regional-emxtc

https://www.linkedin.com/pulse/hot-briquetted-iron-market-sizedemand-supply-regional-8t9wc

𝐅𝐢𝐥𝐥𝐞𝐫𝐬:https://www.linkedin.com/pulse/honeycomb-cardboard-filler-market-sizedemand-supply-yjinc

𝐁𝐢𝐨-𝐛𝐚𝐬𝐞𝐝 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬:

https://www.linkedin.com/pulse/food-grade-hydroxypropyl-distarch-phosphate-market-gtpoe

https://www.linkedin.com/pulse/inactive-dried-yeast-market-sizedemand-supply-regional-r00ie

𝐁𝐮𝐥𝐤 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐚𝐧𝐝 𝐈𝐧𝐨𝐫𝐠𝐚𝐧𝐢𝐜𝐬:https://www.linkedin.com/pulse/industrial-sodium-borohydride-market-sizedemand-supply-xivje

𝐌𝐞𝐭𝐚𝐥𝐥𝐢𝐜 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬:https://www.linkedin.com/pulse/industrial-hot-work-die-steel-market-sizedemand-supply-cu4ge

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬:https://www.linkedin.com/pulse/high-temperature-fiber-market-sizedemand-supply-regional-tpice

𝐏𝐨𝐥𝐲𝐦𝐞𝐫:https://www.linkedin.com/pulse/pharmaceutical-grade-hydroxypropyl-methylcellulose-qokue

𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐒𝐞𝐚𝐥𝐚𝐧𝐭𝐬:https://www.linkedin.com/pulse/induction-heat-seal-liner-market-sizedemand-supply-5j9ue