GFRP Composites Companies

The GFRP composites market is projected to grow from USD 64.5 billion in 2025 to USD 84.3 billion by 2030, at a CAGR of 5.5% during the forecast period.

GFRP composites are created by embedding high-strength glass fibers within a polymer resin, resulting in a material that boasts remarkable strength and durability. The glass fibers in GFRP composites can be made from various types of glass, including E-glass, S-glass, and others, each with distinct properties suitable for specific applications. The polymer resin matrix can consist of thermosetting or thermoplastic resins, which provide different characteristics like enhanced strength, flexibility, and chemical resistance.

The combination of these materials leads to a lightweight, corrosion-resistant, and high-strength material that can be customized to meet the specific requirements of diverse industries.

GFRP Composites Companies

Major manufacturers of GFRP composites are based in Asia Pacific, North America, and Europe. Gurit Services AG (Switzerland), Strongwell Corporation (US), Mitsubishi Chemical Group Corporation (Japan), BASF (Germany), and Avient Corporation (US) are among the leading players in the GFRP composites market. Major focus was given to developing new technologies for GFRP composites and recent deals due to the changing requirements worldwide. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, expansions, contracts, partnerships, mergers and acquisitions, and new product development activities to further expand their presence in the GFRP composites market.

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Gurit Services AG (Switzerland)

Gurit Services AG is one of the market leaders and innovators in the composites industry. It is also a leading global supplier of composite materials, engineering services, tooling equipment, selected parts, and systems. Gurit’s materials range from core materials, prepregs, structural profiles, and formulated products. The company has three major business segments: Wind Materials, Manufacturing Solutions, and Marine & Industrial. Gurit provides GFRP composites through all of its business segments.

The company provides comprehensive GFRP composite solutions because of its wide range of materials and distinctive technical approach. Gurit Holdings has a global presence with offices, manufacturing sites, and a distribution network across various regions, including Europe, Asia Pacific, North America, Latin America, and Rest of the World.

STRONGWELL CORPORATION (US)

STRONGWELL CORPORATION has been manufacturing high-quality fiber-reinforced polymer (FRP) products using “the continuous automatic process” (today known as “pultrusion”). The company offers GFRP fabricated structures, railing & fencing systems, pipe sleeves, and gratings. The company has four manufacturing locations, 65+ pultrusion machines, and more than 730,000 square feet of manufacturing space. STRONGWELL CORPORATION is recognized as the world’s leading and largest pultrusion company of FRP.

Mitsubishi Chemical Group Corporation (Japan)

Mitsubishi Chemical Group Corporation is one of the major players in the GFRP composites market, offering products like reinforced thermoplastics and sandwich panels. The group operates its GFRP composites business through its subsidiary Mitsubishi Chemical Advanced Materials AG. The company operates under five major business segments: Specialty Materials, Industrial Gases, Pharma, MMA & Derivatives, and Basic Materials & Polymers. The company offers GFRP composites through the Specialty Materials business segment.

Mitsubishi Chemical Group Corporation has a substantial global presence, operating manufacturing, sales, and logistics facilities and subsidiaries across Asia Pacific, Europe, North America, and the Middle East.

MARKET RANKING

The GFRP composites market is consolidated, with the top five players accounting for 40.0–45.0% of the market share, indicating that many players are operating within this emerging market. Gurit Services AG leads the position in this market due to its technological innovation, strong research and development capabilities, extensive production capacity, and strategic partnerships across various industries. As one of the pioneers in GFRP composites manufacturing, the company has been expanding into new product lines and industries to spread its risk and increase its revenue streams.

Other prominent players in the GFRP composites market include Exel Composites (Finland), Asahi Kasei Corporation (Japan), POLSER Composite Materials Corporation (Turkey), LM Wind Power (Denmark), Tencom Limited (US), and SGL Carbon (Germany). These companies have made significant progress in offering competitive products and solutions to meet various GFRP composites applications and needs. Companies such as Exel Composites and Asahi Kasei Corporation are helping diversify the GFRP composites market as these companies are pioneering advanced technologies and increasing their manufacturing capacity, which will also support the growth of the overall GFRP composites sector.

Related Reports:

GFRP Composites Market by Resin Type (Polyester, Vinyl Ester, Epoxy, Polyurethane, Thermoplastics, and Other resins), Manufacturing Process [Compression & Injection Molding, Filament Winding, Layup, Pultrusion, Resin Transfer Molding (RTM), Other Manufacturing Processes], End-use Industry (Transportation, Construction & Infrastructure, Electrical & Electronics, Pipes & Tanks, Marine, Aerospace & Defense, Wind Energy, and Other End-use Industries), Region - Global Forecast to 2030