Glass Fiber Reinforced Plastic Composites Market is expected to reach USD XX Billion by 2026 from USD 47.09 Billion in 2018 at a CAGR of XX%.

Glass fiber is a lightweight and durable fiber that are manufactured from very fine fibers of glass. As compared to carbon fibers, glass fibers offers high strength, thermal efficiency and low brittleness. Key players across the automotive, construction & infrastructure and aerospace & defence segments are likely to utilize composite materials that are lighter, cheaper and stronger. Escalating demand from the automotive sector as it helps to enhance fuel efficiency in vehicles due reduced weight.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Glass fiber reinforced plastic composites market based on manufacturing processes has been segmented into compression & injection molding, filament winding, layup, pultrusion, resin transfer molding and others. Compression & injection molding segment is expected to be one of the major contributors among others during the forecast period as it is the most preferred process for production of glass fiber reinforced plastic composites market.

Automobile end-use industry is expected to hold one of the largest shares of the market for glass fiber reinforced plastic composites market. Increasing trend of reducing vehicle weight in order to reduce fuel consumption, performance and efficiency is augmenting the growth of this segment. Aerospace & defence segment followed the automotive segment.

Polyester segment based on resin type is expected to grow at a high CAGR during the forecast period. This is due to their corrosion resistance and superior performance properties, they widely used as a matrix for glass fiber reinforced plastic composites in various applications such as automotive, aircraft, electronics components, railways and others. Polyester is followed by epoxy and polyurethane.

Geographically, Asia Pacific is expected to be one of the largest markets for glass fiber reinforced plastic composites during the forecast period. This is due to increasing demand from the countries like India and China owing to growing industrialization and increasing demand for environment friendly products.

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