Dublin, March 29, 2024 (GLOBE NEWSWIRE) -- The "Glass Fiber Market: Trends, Opportunities and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
This global glass fiber market report provides a comprehensive analysis up to 2030. The report details a promising future for the glass fiber industry, with a projected compound annual growth rate (CAGR) of 3% from 2023 to 2030, hinting at a market size expected to reach an estimated $15 billion.
The report cites a significant rise in demand for glass composites in various applications as the key driver for the market's expansion. Glass fibers are essential components in producing various composite materials, including products such as bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts. With its exceptional strength-to-weight ratio, glass fiber is becoming the material of choice over traditional metals in many industries, fostering a surge in the market's growth.
Industry Trends and Opportunities
- Increasing demand for lightweight materials in automotive, aerospace, and wind energy sectors.
- The rising significance of glass fiber reinforcement in concrete within the construction industry to enhance building material durability and performance.
- Innovative trends include the development of ultra-high modulus glass fiber and the utilization of 3D technology for glass fiber-based composite parts.
Segment Analysis and Regional Insights
The report offers a detailed look at how different segments – including end-use industries, manufacturing processes, and product types – are expected to perform across various regions worldwide. The construction and transportation sectors emerge as predominant end users, while the Asia Pacific region is highlighted for its commanding lead and impressive growth rate in the market, driven mainly by advancements in China and India.
Competitive Landscape Rundown
Within the glass fiber industry, competitive strategies such as research and development investments, expansion of manufacturing capabilities, and product innovation are key to growth. The report profiles prominent market players that dominate the landscape, revealing how they are shaping the future of glass fiber technology and products.
Strategic Industry Assessment
Alongside comprehensive market size estimates, the report includes a strategic analysis based on Porter’s Five Forces model, outlining the intensity of competition within the industry. It examines the various market risks, business opportunities, as well as the emerging trends that are influencing the market dynamics.
A selection of companies mentioned in this report includes:
- Owens Corning
- Jushi Group Co. Ltd.
- Chongqing Polycomp International Corporation
- Taishan Fiberglass Inc.
- Taiwan Glass Group
- Nippon Electric Glass Co. Ltd.
- Sichuan Weibo. Co. Ltd.
- 3B the Fiber Glass Company (Goa Glass Fiber)
- Johns Manville Corporation
- Nitto Boseki Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/22lakq
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