Glass Fibers Market
Glass Fibers Market (Product: E-Class Glass Fiber and Performance Glass Fiber; Application: Building & Construction, Transportation, Industrial, Consumer Goods, Wind Turbine, Oil & Gas, and Others) -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
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Global Glass Fibers Market: Overview
The problem of population explosion has worked in the favor of the global glass fibers market, by creating an unprecedented demand for its products in various sectors. From the automotive to the building and construction sector, the need for glass fiber for various purposes is an undeniable one.
Transparency Market Research states that the opportunity in the global glass fibers will be worth US$ 22.32 bn by 2027 from US$ 11.35 bn in 2018 as the market promises to expand at a CAGR of 7.8% between 2019 and 2027. The wide range of application of glass fiber is primarily due to its unique characteristics such as low weight, excellent resistance, and high strength.
The E-glass fiber has been integral to defining the success of the global glass fibers market. This product has is being largely preferred due to its incredible tensile strength, budget-friendliness, and modulus. The global glass fibers market will largely be driven by the building and construction sector as the exceeding population in certain areas of the world such as Asia Pacific has created a demand for residential buildings. The building and construction application segment is anticipated to rise at a 7.9% CAGR in the forecast period. In the coming years, glass fiber will be used for making furniture and fixtures, pipes, water storage tanks, and wall panels for this sector.
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Advent of Alternative Materials Creates Hurdles for Glass Fiber Manufacturers
However, this market does face a few challenges such as the increasing demand for carbon fiber that is known to have better mechanical characteristics. Not only does this material have better strength, but is also lighter than glass fiber. Citing these reasons, carbon fiber is being widely used in areas of transportation, construction, sports and leisure equipment, and wind energy.
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Amongst all the application segments, the wind turbine segment is poised to prosper. This trend will continue all throughout forecast period as the word reels under the pressure of global warming. The pursuance of sustainable renewable solutions will propel the demand for glass fibers, which are largely used in making wind turbines. The increasing number of wind turbine installations are also set to accelerate the demand for glass fibers. The mandatory energy regulations will also contribute towards the growth of this application segment in the overall market.
Asia Pacific Retained Leadership in 2018
Asia Pacific held a significant share in the glass fibers market, accounting for nearly 48% of the overall market in 2018. This share was attributable to the monumental population base that is the undercurrent for the budding building as construction sector as well. The steady stance of this regional market will continue to grow as emerging economies of China and India become the big exporters of glass fiber during the forecast period.
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Key Players in the Global Glass Fibers Market
The competitive landscape of the global glass fibers market is consolidated in nature. The top operating players in this market are
- CHONGQING POLYCOMP INTERNATIONAL CORP
- AGY Holding Corp
- Jushi Group,
- Saint-Gobain Vetrotex
- Johns Manville
- Nippon Electric Glass Co., Ltd
- Jiangsu Jiuding New Material Co. Ltd
- Taishan Fiberglass, Inc
- Owens Corning,
- PPG Industries, Inc.
amongst others. Establishing strong export and distribution channels in the international markets will open up bright opportunities for this market. Furthermore, increasing investments in research and development will help these companies improve their product quality, thereby creating a possibility of a niche market in the near future.
Glass Fibers Market – Scope of the Report
Transparency Market Research’s recent report on the global glass fibers market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global glass fibers market analyzes the market scenario for the period from 2018 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global glass fibers market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.
This study also discusses the underlying trends and the impact of various factors on the global glass fibers market along with their influence on evolution of the market
This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the global glass fibers market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market
Key Questions Answered in Global Glass Fibers Market Report
- How much value does the global glass fibers market is expected to reach by the end of the forecast period?
- Which segment currently account for the maximum share of the global glass fibers market?
- What are the key factors expected to drive the global glass fibers market?
- Which region is likely to be a lucrative market for glass fibers during the forecast period?
- What are the essential strategies adopted by key players operating in the global glass fibers market to expand their geographical presence?
- What are major advancements in the global glass fibers market?
This report answers these questions about the global glass fibers market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business
Global Glass Fibers Market: Research Methodology
This TMR report on the global glass fibers market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the global glass fibers market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the global glass fibers market arrived at predictions and estimations, and calculated the market forecast.
This report uses an analytical triangulation method to estimate the numbers of the global glass fibers market, by using both bottom-up and top-down approaches
This detailed assessment of the global glass fibers market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the global glass fibers market is set to expand are based on carefully vetted primary and secondary sources.
Global Glass Fibers Market: Segmentation
This report on the global glass fibers market provides segmentation of the market based on product, application, and region