Abstract Composite materials find increasing applications in modern industry and transport. However, they may lose desirable mechanical properties due to external mechanical excitations, ultraviolet radiation, moisture penetration, or other factors. Therefore, an effective way to assess the condition of materials is necessary. In this article, a nondestructive evaluation of glass fiber-reinforced composite subjected to five-stage static bending is presented. For this reason, pulsed excitation terahertz imaging was utilized, and a data processing/exploration scheme was proposed. The proposed, novel approach consists of an efficient data registration algorithm based on surface approximation (for surface roughness and unevenness elimination) and a parametrization scheme applied for the signals gained from the time response of the glass fiber-reinforced polymer layer. Obtained parameters enable the global description of the evaluated material state and prediction of failure effectively, even in the early stages of destruction.