Fintech PR
Glass Fiber Reinforced Plastics (GFRP) Composites Market Size to Grow USD 37.2 Billion at a CAGR of 6.5% | Valuates Reports
BANGALORE, India, Feb. 20, 2024 /PRNewswire/ — Glass Fiber Reinforced Plastics (GFRP) Composites Market Size, Share, Competitive Landscape and Trend Analysis Report by Resin Type (Polyester resin, Vinyl ester resin, Epoxy resin, Polyurethane resin, Others), by Process (Manual process, Continuous process, Compression molding, Injection molding), by End Use Industry (Aerospace and defense, Construction, Wind energy, Automotive, Electrical and electronics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Global Glass Fiber Reinforced Plastics (GFRP) Composites Market was valued at USD 19.8 Billion in 2022, and is projected to reach USD 37.2 Billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
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Major Factors Driving the Growth of GFRP Composites Market:
Numerous reasons, such as the need for lightweight and highly durable materials in sectors including aerospace, automotive, construction, and renewable energy, are driving the expansion of the GFRP composites market. GFRP composites are perfect for applications needing outstanding performance and lifespan because of their remarkable qualities, which include corrosion resistance, durability, and design flexibility. The market is also growing as a result of improvements in manufacturing technology, a greater emphasis on sustainability, and government programmes encouraging the use of eco-friendly products.
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TRENDS INFLUENCING THE GROWTH OF THE GFRP COMPOSITES MARKET:
GFRP composites are vital to the aerospace sector, as aircraft construction relies heavily on weight reduction, with every gramme saved translating into significant fuel savings. These materials are perfect for fuselages, wings, and interiors of airplanes because they have great strength-to-weight ratios, fatigue resistance, and design flexibility. In aerospace applications, GFRP composites are expected to enjoy continuous growth as manufacturers look for ways to reduce emissions, increase fuel efficiency, and improve performance. The growing need for lightweight materials in the automobile industry is a major driver of the rise of Glass Fibre Reinforced Plastic (GFRP) composites. GFRP composites are perfect for lowering vehicle weight and increasing fuel economy because they provide an alluring blend of strength and low weight.
GFRP composites are becoming more and more popular in the building industry because of their remarkable resilience to corrosion and adaptability. Building materials with better performance and longevity are becoming more and more in demand as infrastructure development projects and global urbanization rates increase. Due to its many advantages over conventional materials like steel and concrete, GFRP composites are seeing increased use in structural parts, facades, bridges, and pipelines. The need for GFRP composites is mostly driven by the renewable energy industry, especially in wind energy applications. The lightweight and high-strength characteristics of GFRP composites are especially advantageous for wind turbine blades, allowing for improved performance and efficiency.
The productivity and economy of GFRP composites have been greatly increased by technological developments in manufacturing, including automated layup procedures, resin infusion methods, and additive manufacturing. The market for GFRP composites has grown as a result of these developments, which have decreased production costs, shortened cycle times, and increased design options. This has opened up GFRP composites to a wider range of industries and applications. The need for materials with eco-friendly qualities is growing as worries about resource conservation and environmental sustainability grow. Because they are recyclable and need less energy to produce, GFRP composites fit in nicely with sustainability objectives in a variety of sectors. GFRP composites are becoming more and more popular as a sustainable substitute for conventional materials, thanks to the increasing preference of manufacturers and end users.
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MARKET SHARE ANALYSIS:
With a CAGR of 7.0%, vinyl ester resin is predicted to have the strongest growth. Vinyl ester resin’s remarkable mechanical strength, corrosion resistance, and adaptability are the reasons behind its rising demand. Vinyl ester resin is preferred in industries like construction, automotive, and marine due to its exceptional performance in challenging conditions. Its cost-effectiveness and ability to work with a variety of reinforcing elements also add to its popularity as a material for composite applications.
It is anticipated that the continuous process will have the highest CAGR, at 6.9%. Demand for continuous processes has grown as a result of their effectiveness, affordability, and low resource consumption. By reducing downtime, continuous production guarantees a steady output and constant quality. This approach has significant benefits for businesses like chemicals and pharmaceuticals that need to produce standardized products in large quantities.
The industry with the highest predicted CAGR, aerospace and defense, is 7.2%. Global security concerns, technical breakthroughs, and geopolitical conflicts all contribute to increased demand in the aerospace and defense business. Governments make significant investments in defense capabilities, which increases demand for state-of-the-art weapons, planes, and surveillance systems. The industry’s growth is also aided by the expanding commercial aviation sector, which is driven by the demand for freight transportation and an increase in air travel.
In 2022, Asia-Pacific accounted for the most proportion. The Asia-Pacific market for glass fiber reinforced polymers (GFRP) composites is expanding rapidly due to rising demand from the aerospace, automotive, and construction sectors. The popularity of GFRP is influenced by the region’s concentration on lightweight materials, technological breakthroughs, and economic expansion. Major firms are putting money into R&D, which is accelerating market growth.
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Key Players:
- Asahi Kasei Corporation
- PPG Industries Inc
- Nitto Boseki Co.
- Nippon Sheet Glass Co. Ltd.
- Owens Corning
- 3B – the fibreglass company
- Mitsubishi Chemical Group Corporation
- Celanese Corporation
- Johns Manville
- Sancom Composites LLP
- SGL Carbon
- alformet
- Röchling
- Amiblu Holding GmbH
- Chomarat Group
- Saint-Gobain Vetrotex
- Honeywell International Inc
- BASF SE
- Reliance Industries Ltd.
- Advanced Composites, Inc.
- Braj Binani Group
- BGF Industries Inc
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
– External Thermal Insulation Composite Systems Market
– Glass Fiber Reinforced Plastic (GFRP) Composite Material market was valued at USD 27580 Million in 2022 and is anticipated to reach USD 37420 Million by 2029, witnessing a CAGR of 4.4% during the forecast period 2023-2029.
– Glass Fiber Reinforced Plastic Leaf Springs Market
– GF and GFRP Composites Market revenue was US$ 38590 million in 2022 and is forecast to a readjusted size of US$ 50260 million by 2029 with a CAGR of 3.8% during the forecast period (2023-2029).
– Fiber-Reinforced Plastic Composites market size is expected to reach US$ 141430 million by 2029, growing at a CAGR of 3.8% from 2023 to 2029.
– Glass Fiber Thermoplastic market was valued at US$ 5621 million in 2023 and is anticipated to reach US$ 11630 million by 2030, witnessing a CAGR of 10.8% during the forecast period 2024-2030.
– Fiber Reinforced Polymer Composite Rebar (FRP Rebar) market size is expected to reach US$ 669.7 million by 2029, growing at a CAGR of 4.6% from 2023 to 2029.
– Functional Composites market size is expected to reach US$ 65940 million by 2029, growing at a CAGR of 6.6% from 2023 to 2029.
– FRP & GRP & GRE Pipe market size is expected to reach US$ 2888.6 million by 2029, growing at a CAGR of 2.3% from 2023 to 2029.
– Composites in Oil and Gas market size is expected to reach US$ 1811.4 million by 2029, growing at a CAGR of 2.8% from 2023 to 2029.
– Composite Material market size is expected to reach US$ 1084.4 million by 2029, growing at a CAGR of 2.6% from 2023 to 2029.
– Glass Fiber Reinforced Polymer (GFRP) Composite Rebar Market
– Construction Repair Composite Market
– High Temperature Resistant Composite Resin Market
– Composite Rebar Market revenue was US$ 491 million in 2022 and is forecast to a readjusted size of US$ 921.6 million by 2029 with a CAGR of 9.3% during the forecast period (2023-2029).
– Fiber Reinforced Polymer (FRP) Composite Market
– Automobile Fiber-reinforced Plastic Market
– Composite Mode Filler Market
– E Glass Fiber Roving market size is expected to reach US$ 8037.8 million by 2029, growing at a CAGR of 4.9% from 2023 to 2029.
– GFRG (Glass Fiber Reinforced Gypsum) market size is expected to reach US$ 1042.2 million by 2029, growing at a CAGR of 3.1% from 2023 to 2029.
– Glass Fiber Yarn market was valued at US$ 1100.5 million in 2023 and is anticipated to reach US$ 1531 million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
– Glass Fiber Composites Market
– Non-Woven Glass Fiber Prepreg market size is expected to reach US$ 844.7 million by 2029, growing at a CAGR of 7.1% from 2023 to 2029.
– Long Glass Fiber Reinforced Polypropylene market was valued at US$ 2072.9 million in 2023 and is anticipated to reach US$ 3551.6 million by 2030, witnessing a CAGR of 7.9% during the forecast period 2024-2030.
– Non-Woven Prepreg market size is expected to reach US$ 613.8 million by 2029, growing at a CAGR of 4.2% from 2023 to 2029.
– Glass Fiber Nonwoven Market revenue was US$ 1279 million in 2022 and is forecast to a readjusted size of US$ 1643.1 million by 2029 with a CAGR of 3.6% during the forecast period (2023-2029).
– Fiberglass market is projected to reach US$ 11250 million in 2029, increasing from US$ 8292.5 million in 2022, with a CAGR of 4.4% during the period of 2023 to 2029.
– Electronic Grade Glass Fiber Yarn Market
– Glass Fiber Sizing Agent Market
– Automotive Glass Fiber Nonwoven Market
– Fiberglass Direct Roving Yarn Market
– Short Fiber Reinforced Thermoplastic Composites Market
– Bioactive Glass market was valued at US$ 191.7 million in 2023 and is anticipated to reach US$ 297.2 million by 2030, witnessing a CAGR of 6.7% during the forecast period 2024-2030.
– Fiberglass Light Poles Market
– Glass Laser Cutting Machine Market
– Colorless Polyimide Film (CPI) and Ultra Thin Glass (UTG) market is projected to reach US$ 10050 million in 2029, increasing from US$ 325.2 million in 2022, with a CAGR of 50.9% during the period of 2023 to 2029.
– Glass and Plastic Greenhouse Market
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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