Share this article Share this article ResearchAndMarkets.com's offering. The global reinforced plastics market was valued at $228. 4 billion in 2019, and is projected to reach $295. 6 billion by 2027, growing at a CAGR of 4. 1% from 2020 to 2027. A composite material consists of a polymer matrix reinforced with fibers is fiber-reinforced plastic (FRP), also known as fiber-reinforced polymer, or fiber-reinforced plastic. Typically the fibers are glass (in fiberglass), carbon (in polymer-reinforced carbon fiber), aramid, or basalt. Due to its special properties such as durability and low weigh...