Increasing Global Demand in Glass Fiber Market Size & Share Will Reach USD 10,600 Million by 2026: Facts & Factors
According to the [210+ Pages] research study; the global Glass Fiber Market in 2019 was approximately USD 8,100 Million. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 10,600 Million by 2026. Top market players are Owens Corning, BGF Industries, Nitto Boseki Co. Ltd., Saint-Gobain Vetrotex, Asahi Glass Company Limited and others.
New York, NY, Feb. 18, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Glass Fiber Market By Type (Single-End Roving, Multi-End Roving, Fabrics, Woven Roving, CFM, CSM, CS, DUCS, and Others), Manufacturing Process (Spray Up, Hand Lay-Up, Injection Molding, PrepregLay-Up, Pultrusion, Resin Infusion, Compression Molding, and Others) and By Application (Transportation, Construction, Pipe & Tank, Aerospace, Electrical & Electronics, Wind Energy, Consumer Goods, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research study, the global Glass Fiber Market was estimated at USD 8,100 Million in 2019 and is expected to reach USD 10,600 Million by 2026. The global Glass Fiber Market is expected to grow at a compound annual growth rate (CAGR) of 4% from 2019 to 2026”.
Glass fiber is a material made from extremely thin fibers of glass, which is also known as fiberglass. It is a lightweight material and is used to produce printed circuit boards, structural composites, and a wide range of special-purpose products. Glass fiber is generally used in plastic materials reinforcement to increase tensile strength, dimensional stability, flex modulus, creep resistance, impact resistance, chemical resistance, and heat resistance.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Glass Fiber Market?
2) What is the market size, share of the Glass Fiber Market?
3) Who are the top market players in Glass Fiber Market?
4) What will be the future market of the Glass Fiber Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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The growing construction and automotive industry across the globe is the major factor driving the global glass fiber market. The construction activities in developing countries such as China, India, Brazil, and South Africa are further projected to escalate the consumption of glass fibers. Glass fibers are widely used in polymeric resins for bathtubs and shower stalls, paneling, doors, and windows. Moreover, the automotive sector is one of the largest consumers of glass fibers. In the automotive industry, glass fiber is used with polymer matrix composites to produce bumper beams, external body panels, pultruded body panels, and air ducts, and engine components among others. Therefore, these factors are expected to boost the market growth in the upcoming years. However, the presence of substitutes such as carbon fibers is likely to hamper the market growth in the forecast period. Conversely, the rising application of glass fibers in the production of light-weight cars and aircraft is further anticipated to offer growth opportunities to the global glass fiber market.
Top Market Players
Some of the major players operating in the global glass fiber market are Owens Corning, BGF Industries, Nitto Boseki Co. Ltd., Saint-Gobain Vetrotex, Asahi Glass Company Limited, Johns Manville, Knauf, Jushi Group Co. Ltd., Advanced Glassfiber Yarns LLC, PPG Industries, Chomarat Group, and Nippon Sheet Glass among others.
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
We at Facts and Factors ( http://www.fnfresearch.com ) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.
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The application of multi-end roving glass fibers is increasing rapidly in the automotive industry which is further projected to increase the consumption of this type of glass fiber. Multi-end roving glass fibers are used to manufacture lightweight vehicles. Additionally, it is also used to produce architectural facades in the construction industry. Moreover, the injection molding process is a widely used process due to its design flexibility, low labor cost, and high-output production rate. The global glass fibers market is majorly driven by the construction and transportation industries. In 2019, the construction and transportation industry accounted for more than 60% of the market share.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the glass fiber sector. Key strategic developments in the glass fiber market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the glass fiber market are appropriately highlighted in the report.
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The rapid growth in the construction and transportation industries is the major factor driving the global glass fiber market. The rising construction activities in developing countries like Brazil, China, India, and South Africa are further projected to boost the adoption of glass fiber, thereby propelling market growth. Moreover, multi-end roving glass fibers are projected to dominate the global glass fiber market owing to the increasing use of this type of fiber in the automotive and construction industry.
The glass fiber market research report delivers an acute valuation and taxonomy of the glass fiber industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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The glass fiber market is segmented based on Type and Application. On the basis of type segmentation, the market is classified into single-end roving, multi-end roving, fabrics, woven roving, CFM, CSM, CS, DUCS, and others. Based on the manufacturing process, the market is segregated into spray up, hand lay-up, injection molding, prepreg lay-up, pultrusion, resin infusion, compression molding, and others In terms of Application segmentation, the market is bifurcated into transportation, construction, pipe & tank, aerospace, electrical & electronics, wind energy, consumer goods, and others.
Geographically, the Asia Pacific region is the major producer and consumer of glass fibers. The emerging construction activities in developing countries in the region are further projected to increase the consumption of glass fibers. Additionally, the rising need for wind energy generation is also estimated to propel the demand for glass fibers in the region. Moreover, North America is anticipated to grow significantly during the forecast period. The increasing adoption of glass fibers in the aerospace sector is further projected to accelerate market growth in the region.
Browse the full “Glass Fiber Market By Type (Single-End Roving, Multi-End Roving, Fabrics, Woven Roving, CFM, CSM, CS, DUCS, and Others), Manufacturing Process (Spray Up, Hand Lay-Up, Injection Molding, PrepregLay-Up, Pultrusion, Resin Infusion, Compression Molding, and Others) and By Application (Transportation, Construction, Pipe & Tank, Aerospace, Electrical & Electronics, Wind Energy, Consumer Goods, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/glass-fiber-market-by-type-single-end-roving-546
This report segments the glass fiber market as follows:
Global Glass Fiber Market: By Product Type Segmentation Analysis
- Single-End Roving
- Multi-End Roving
- Woven Roving
Global Glass Fiber Market: By Manufacturing Process Segmentation Analysis
- Spray Up
- Hand Lay-Up
- Injection Molding
- Prepreg Lay-Up
- Resin Infusion
- Compression Molding
Global Glass Fiber Market: By Application Segmentation Analysis
- Pipe & Tank
- Electrical & Electronics
- Wind Energy
- Consumer Goods
Key Insights from Primary Research
- According to the primary respondents, the global glass fiber market is set to grow annually at a rate of around 4%
- The market was valued at around USD 8,100 million, in 2019 and is projected to reach around USD 10,600 million, in 2026.
- In 2019, the “multi-end roving” category dominated the type segmentation of the market and is projected to continue its dominance throughout the forecast period.
- “Injection molding” category of the manufacturing process is expected to grow significantly during the forecast period owing to its design flexibility, low labor cost, and high-output production rate.
- Based on the application segmentation, the “transportation and construction” category held a significant share, in 2019.
- The Asia Pacific accounted for the largest market share of the global glass fiber market, in 2019.
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