World GFRP composites market to reach $29.4 billion by 2013

There are signs for optimism in the global GFRP composites market. Factors for growth include the recovery in the global economy and improving prospects in various end-use markets. Because glass fibre composites are dependable, predictable, versatile, and cost-effective for use, the demands for its use are higher than ever before.

The enormous potential in Asian countries, particularly China and India, are likely to foster further growth in the glass fibre market.

The US and European countries are the leading regions for the research and development of high performance glass fibre products while developing countries are in the early stages of new product development. Visiongain assesses that the global glass fibre reinforced plastic (GRFP) composites market will total $29.4bn in 2013.

In the developed markets the GFRP demand tends to focus on high-value applications, which are forecasted to be the driving force of composites market growth. Customer demands require glass fibre producers to develop better technologies to improve their process efficiency with lower costs. Therefore, technology innovations driven by consumers demand will create new and exciting opportunities for the GFRP composite market and the high performance GFRP composites market will show significant growth opportunities in the next 10 years.

What makes this report unique? Visiongain consulted widely with industry experts and full transcripts from these exclusive interviews with a Scientist from PPG Industries, General Manager from BFG International China Co. Ltd. GFRP Composites Consultant from Kemrock Industries & Exports Ltd. As such, our reports have a unique blend of primary and secondary sources providing informed analysis.

This methodology allows insight into the key drivers and restraints behind market dynamics and competitive developments, as well as identifying the technological issues. The report therefore presents an ideal balance of qualitative analysis combined with extensive quantitative data including global, submarket and regional markets forecasts from 2013-2023 - all identifying strategic business opportunities.