Product Code: ETC393615 | Publication Date: Jul 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 250 | No. of Figures: 50 | No. of Tables: 25 |
Glass-reinforced plastic (GRP) is a composite material that is made up of an amalgamation of glass fibers and thermosetting plastics. It offers excellent corrosion resistance, low maintenance costs, high strength-to-weight ratio, dimensional stability, and thermal insulation properties. This makes GRP one of the most preferred materials for various engineering applications. The demand for GRP products has been rising in the Asia Pacific region due to its wide range of applications across different industries such as automotive, construction & infrastructure, and marine & offshore energy sector among others. In addition to this growing awareness about health hazards associated with traditional building materials like asbestos also fuels market growth in the region.
The increasing demand from end-user industries such as automotive and construction are majorly driving the growth of the Asia Pacific Glass Reinforced Plastic Market during the forecast period 2021-2027. Other factors such as technological advancements with respect to using glass fiber-reinforced polymers in manufacturing components used in aircraft are favorably impacting the market???s growth trajectory during this time period. Growing awareness about environmentally friendly building materials along with their superior characteristics further fuel demand for advanced materials like GRPs across different regions within APAC. Moreover, government initiatives towards the development of infrastructure which require the usage of complex components manufactured out of these composites will positively influence regional market revenue over the forecast duration of 2021-2027.
However, costs associated with the production process combined with availability issues related to raw materials can potentially limit sales potential within Asia Pacific Glass Reinforced Plastic Market over the forecast timeframe 2021-2027. Further stringent regulations implemented by governing bodies concerning environment protection norms further hamper product penetration rates, especially in countries like India where there exist large untapped opportunities owing to the presence huge population base coupled with a strong economic outlook.
Owens Corning, SABIC, Teijin Limited, Hexcel Corporation, Nippon Sheet Glass Co Ltd., PPG Industries Inc., Jushi Group Co Ltd., Lotte Advanced Materials Co Ltd., Covestro AG, Ashland Global Specialty Chemicals Inc etc are some prominent players operating within Asia Pacific Glass Reinforced Plastics Market landscape according to 6Wresearch.
The COVID-19 pandemic is expected to have a major impact on the Asia Pacific glass-reinforced plastic market in 2020. The demand for glass-reinforced plastics (GRP) has declined significantly due to reduced construction activity, travel bans, and other containment measures which have stifled economic growth across the region. This will result in decreased demand from key end-user industries such as construction, automotive, electrical & electronics, marine vessels, wind energy, and sporting goods. Moreover, increased raw material prices are likely to negatively affect the production costs of GRP products leading to higher product prices and a further reduction in sales volumes. However, post the pandemic era it is expected that governments across the countries will invest heavily for building infrastructure projects which should revive GRP demand over long-term outlooks. Additionally increasing investments into renewable energy projects along with the upsurge requirement of lightweight composite materials for military applications should also create potential revenue pockets within this industry by 2021 onwards
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Glass Reinforced Plastic Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Glass Reinforced Plastic Market Revenues & Volume, 2020 & 2027F |
3.3 Asia Pacific Glass Reinforced Plastic Market - Industry Life Cycle |
3.4 Asia Pacific Glass Reinforced Plastic Market - Porter's Five Forces |
3.5 Asia Pacific Glass Reinforced Plastic Market Revenues & Volume Share, By Countries, 2020 & 2027F |
3.6 Asia Pacific Glass Reinforced Plastic Market Revenues & Volume Share, By Type, 2020 & 2027F |
3.7 Asia Pacific Glass Reinforced Plastic Market Revenues & Volume Share, By Method, 2020 & 2027F |
3.8 Asia Pacific Glass Reinforced Plastic Market Revenues & Volume Share, By Application, 2020 & 2027F |
3.9 Asia Pacific Glass Reinforced Plastic Market Revenues & Volume Share, By End-Use, 2020 & 2027F |
4 Asia Pacific Glass Reinforced Plastic Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Glass Reinforced Plastic Market Trends |
6 Asia Pacific Glass Reinforced Plastic Market, 2017 - 2027 |
6.1 Asia Pacific Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
6.2 Asia Pacific Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
6.3 Asia Pacific Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
6.4 Asia Pacific Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
7 China Glass Reinforced Plastic Market, 2017 - 2027 |
7.1 China Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
7.2 China Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
7.3 China Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
7.4 China Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
8 India Glass Reinforced Plastic Market, 2017 - 2027 |
8.1 India Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
8.2 India Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
8.3 India Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
8.4 India Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
9 Japan Glass Reinforced Plastic Market, 2017 - 2027 |
9.1 Japan Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
9.2 Japan Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
9.3 Japan Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
9.4 Japan Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
10 Australia Glass Reinforced Plastic Market, 2017 - 2027 |
10.1 Australia Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
10.2 Australia Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
10.3 Australia Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
10.4 Australia Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
11 Indonesia Glass Reinforced Plastic Market, 2017 - 2027 |
11.1 Indonesia Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
11.2 Indonesia Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
11.3 Indonesia Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
11.4 Indonesia Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
12 Philippines Glass Reinforced Plastic Market, 2017 - 2027 |
12.1 Philippines Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
12.2 Philippines Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
12.3 Philippines Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
12.4 Philippines Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
13 Malaysia Glass Reinforced Plastic Market, 2017 - 2027 |
13.1 Malaysia Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
13.2 Malaysia Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
13.3 Malaysia Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
13.4 Malaysia Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
14 Rest of Asia Glass Reinforced Plastic Market, 2017 - 2027 |
14.1 Rest of Asia Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2017 - 2027 |
14.2 Rest of Asia Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2017 - 2027 |
14.3 Rest of Asia Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2017 - 2027 |
14.4 Rest of Asia Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2017 - 2027 |
11 Asia Pacific Glass Reinforced Plastic Market Key Performance Indicators |
12 Asia Pacific Glass Reinforced Plastic Market - Opportunity Assessment |
12.1 Asia Pacific Glass Reinforced Plastic Market Opportunity Assessment, By Countries, 2020 & 2027F |
12.2 Asia Pacific Glass Reinforced Plastic Market Opportunity Assessment, By Type, 2020 & 2027F |
12.3 Asia Pacific Glass Reinforced Plastic Market Opportunity Assessment, By Method, 2020 & 2027F |
12.4 Asia Pacific Glass Reinforced Plastic Market Opportunity Assessment, By Application, 2020 & 2027F |
12.5 Asia Pacific Glass Reinforced Plastic Market Opportunity Assessment, By End-Use, 2020 & 2027F |
13 Asia Pacific Glass Reinforced Plastic Market - Competitive Landscape |
13.1 Asia Pacific Glass Reinforced Plastic Market Revenue Share, By Companies, 2020 |
13.2 Asia Pacific Glass Reinforced Plastic Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |