Glass Reinforced Plastic Market to Expand at a CAGR of 4.60% from 2017-2026
09 November 2018
The global market for glass reinforced plastic is expected to expand at a CAGR of 4.60% during the period from 2017 to 2026 (especially Asia Pacific excluding Japan), with the market reaching 14,699 tons by 2026 by the end of the forecast period in terms of the volume. Glass reinforced plastics find extensive usage in the automotive, electronics, construction, and the sport industries. Significant rise due to the ongoing expansion in the wind energy, together with the growth of the electrical and electronics, pipes and tanks, construction and infrastructure, and the transportation industries.
The extensive use of glass reinforce plastic is due to its characteristic that is lightweight, high resistance against climatic conditions, and suitability for surface assortment, are likely to support its demand in the near future.