What is the Market Demand for Glass Fiber Reinforced Plastic (GFRP) Composite Materials?

The global glass fiber reinforced plastic (GFRP) composite materials market, valued at approximately USD 17.1 billion in 2022, is projected to reach USD 38.38 billion by 2032, growing at a CAGR of 8.4%. GFRP composites dominate the fiber reinforced composite materials market, accounting for 95% to 97% of revenue, with the rest from CFRP composites and aramid fibers. Driven by increasing demand across construction, transportation, and renewable energy sectors, and their benefits such as high strength-to-weight ratio and durability, the market is set for substantial growth. Despite its current developmental stage, the GFRP market holds significant untapped commercial potential.