Introduction

• Market Size Overview: The global glass fiber reinforced plastic (GFRP) composites market is valued at approximately USD 23.85 billion in 2024, driven by extensive use in automotive, construction, and aerospace industries.
  
• Growth Forecast: Expected to reach around USD 52.60 billion by 2032, the market is projected to grow at a robust CAGR of approximately 10.25%, fueled by demand for lightweight and durable composite materials.
  
• Industry Significance: GFRP composites offer superior strength-to-weight ratio and corrosion resistance, making them increasingly vital for sustainable and high-performance applications across various sectors.

GE-McKinsey Matrix – Global Glass Fiber Reinforced Plastic (GFRP) Composites Market

• Industry Attractiveness – High: The GFRP composites market benefits from strong demand across automotive, aerospace, construction, and wind energy sectors, driven by the need for lightweight and durable materials.
  
• Industry Attractiveness – Medium: Regulatory support for sustainable materials and innovations in manufacturing techniques enhance the market’s growth potential, although some end-use industries face cyclical demand fluctuations.
  
• Industry Attractiveness – Low: Challenges such as high production costs and competition from alternative composite materials slightly temper overall industry attractiveness.
  
• Business Strength – Strong: Leading companies possess robust R&D capabilities, extensive production capacities, and well-established global distribution networks, enabling them to capture significant market share.
  
• Business Strength – Moderate: Mid-sized players focus on niche applications and regional markets, leveraging specialized expertise but facing limitations in scale and resource availability.
  
• Business Strength – Weak: Smaller entrants often struggle with limited technological capabilities and market reach, impacting their competitive position despite potential innovation.
  
• Strategic Implications – Invest/Grow: Firms with strong business strength in highly attractive segments should prioritize investments to expand capacity, enhance innovation, and deepen customer relationships.
  
• Strategic Implications – Selective Investment: Businesses with moderate strength or operating in medium attractiveness areas need to focus on differentiation, cost optimization, and targeted market segments.
  
• Strategic Implications – Divest or Reposition: Entities with weak positioning in less attractive segments may consider divestment or repositioning strategies to improve profitability or exit non-core areas.

Global Glass Fiber Reinforced Plastic Composites Market Breakdown

1. By Type
1.1 Continuous Fiber Reinforced Composites
1.2 Discontinuous Fiber Reinforced Composites

2. By Application
2.1 Automotive
2.2 Construction
2.3 Aerospace & Defense
2.4 Wind Energy
2.5 Electrical & Electronics
2.6 Marine
2.7 Others

3. By End-Use Industry
3.1 Automotive Industry
3.2 Construction Industry
3.3 Aerospace & Defense Industry
3.4 Energy Industry
3.5 Electrical & Electronics Industry
3.6 Marine Industry
3.7 Others

4. Market Segmentation: By Region – Global GFRP Composites Market
4.1 North America
4.2 Europe
4.3 Asia-Pacific
4.4 Middle East & Africa
4.5 South America

5. Market Segmentation: By Country (Within Regions)

5.1 North America
5.1.1 United States
5.1.2 Canada
5.1.3 Mexico

5.2 Europe
5.2.1 Germany
5.2.2 United Kingdom
5.2.3 France
5.2.4 Italy
5.2.5 Spain
5.2.6 Rest of Europe

5.3 Asia-Pacific
5.3.1 China
5.3.2 Japan
5.3.3 India
5.3.4 South Korea
5.3.5 Australia
5.3.6 Rest of Asia-Pacific

5.4 Middle East & Africa
5.4.1 Saudi Arabia
5.4.2 United Arab Emirates
5.4.3 South Africa
5.4.4 Rest of Middle East & Africa

5.5 South America
5.5.1 Brazil
5.5.2 Argentina
5.5.3 Rest of South America

6. Key Players – Global Glass Fiber Reinforced Plastic (GFRP) Composites Market
6.1 Owens Corning (U.S.)
6.2 Jushi Group Co., Ltd. (China)
6.3 PPG Industries, Inc. (U.S.)
6.4 Chongqing Polycomp International Corp. (China)
6.5 Taishan Fiberglass Inc. (China)
6.6 Saint-Gobain Vetrotex (France)
6.7 Nippon Electric Glass Co., Ltd. (Japan)
6.8 Jushi Holdings, Inc. (China)
6.9 Krosaki Harima Corporation (Japan)
6.10 Johns Manville (U.S.)
6.11 China Jushi Co., Ltd. (China)
6.12 Nitto Boseki Co., Ltd. (Japan)
6.13 Others