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The glass fiber reinforced plastic (GFRP) market size is forecast to increase by USD 5.79 billion at a CAGR of 3.3% between 2023 and 2028. The market is experiencing significant growth due to its increasing adoption in various industries, particularly in Pipes and Tanks, construction and Infrastructure, and Marine. In the construction sector, GFRP is increasingly being used as an alternative to traditional materials like steel and concrete due to its superior strength-to-weight ratio and corrosion resistance. In the marine industry, GFRP is utilized in the production of boats and ships due to its lightweight and durability. Moreover, advancements in manufacturing techniques such as layup, filament winding, pultrusion, rebar, and powder coating are driving the market growth. For instance, the use of filament winding technology enables the production of complex shapes with uniform fiber orientation, leading to enhanced mechanical properties. Similarly, the development of bio-based transparent plastics is another trend gaining traction in the market. However, the availability of substitutes, such as carbon fiber reinforced polymers and metals, poses a challenge to the market growth.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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