FRP is a fiber reinforced plastic in which the reinforcing fibers are specifically referred to as glass fibers. The glass fibers can be randomly arranged, compressed into sheets (referred to as glass chopped strand mats), or woven into fabrics, such as fiberglass gingham fabrics. The plastic matrix can be a thermoset plastic, the most common being epoxy, polyester, vinyl ester, or thermoplastic. Main applications of fiberglass, such as composites, insulation, storage tanks, building construction, piping and filament winding.
This market is experiencing tremendous growth and is expected to continue to have similar trends in the near future. This is mainly in areas with high growth markets such as Europe and North America. Therefore, there are reports that the global market for fiberglass will be worth $10.1 billion by 2020. Market segmentation is in the geographic area, involving North America, Europe, Asia Pacific and the rest of the world.
Segments are also segmented on the basis of different applications and types. The main applications are fiberglass composites, insulation materials, and others. The production and sale of glass fiber chopped strand mats made of glass fibers and glass fiber gingham fabrics are also rapidly growing as market demand continues to increase.
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