New York, NY, Aug. 24, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Glass Fiber Market by Product Type (Multi-End Roving, Single-End Roving, CSM, Woven Roving, CFM, Fabrics, CS, DUCS, and Others), by Manufacturing Process (Spray Up, Hand Lay-Up, Pultrusion, Prepreg Lay Up, Injection Molding, Resin Infusion, Compression Molding, and Others) by Application (Transportation, Marine, Pipe & Tank, Construction, Aerospace, Electrical & Electronics, Wind Energy, Consumer Goods, and Other Applications) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global glass fiber market was valued at USD 10.47 billion in 2017 and is expected to reach USD 17.04 billion in 2024. The market is anticipated to grow at a CAGR of 7.2% between 2018 and 2024.
Glass fiber is the fiber that is widely used in several applications such as transportation, aerospace, marine, wind energy, consumer goods, and others. Basically, glass fiber is made from numerous fine fiber strands and is also known as fiberglass. Due to its versatile properties such as lightweight, fire-resistant, weather-resistant, and corrosion resistant, it is widely used in the electronics and construction industries. Globally, the construction industry is increasing which is expected to boost the demand for the global glass fiber market. Presently, glass fiber has been prolifically used in the fields of commercial structures, homebuilding, and infrastructure construction. Additionally, it is also used in the composite material, roofing laminate, and even in structural support in structures.
Browse through 105 Tables & 57 Figures spread over 110 Pages and in-depth TOC on “Global Glass Fiber Market Size & Share 2017 Report: Industry Trends, Growth, Segments, Analysis and Forecast, 2024”.
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The global glass fiber market is expected to grow at the fastest pace during the forecast period, attributed to increasing construction and automotive industry. In the construction industry, glass fiber is used to manufacture components such as facade panels, roofing laminate, and various other building components. Moreover, due to the low signal attenuation and RF permeability properties of glass fiber, it is widely used in the telecommunications industry for shrouding antennas. However, increasing demand for carbon fiber in several applications is replacing glass fiber, which is expected to impel the demand for glass fiber in the forecast period. Additionally, the fluctuating prices of the product may hinder the market in the upcoming years. Furthermore, increasing usage of glass fiber in power generation is anticipated to spur the demand for the glass fiber market in the forecast period.
The global glass fiber market can be segmented on the basis of type, manufacturing process, application, and regions. On the basis of product type, the global market is segregated into woven roving, single-end roving, multi-end roving, CSM, CFM, CS, DUCS, fabrics, and others. Amongst all the types of glass fiber, multi-end roving is the largest used glass fiber which has contributed the highest market share in 2017. On the basis of the manufacturing process, the glass fiber market is classified into spray up, hand lay-up, pultrusion, prepreg lay-up, injection molding, resin infusion, compression molding, and others. Injection molding is anticipated to grow at the fastest pace in the forecast period, followed by pultrusion process. Moreover, the increasing usage of glass fibers in several end-use industries is expected to boost the demand for the global glass fiber market. Furthermore, the global glass fiber market is segmented on the basis of applications such as transportation, construction, marine, aerospace, pipe & tank, electrical & electronics, wind energy, consumer goods, and other applications. Due to the versatile properties of glass fiber, it is widely used in construction and automotive industries for several purposes. With the growing population, the demand for construction is expected to increase which, in turn, is projected to boost the demand for glass fiber market globally.
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Europe and North America is the highest growing regional market for glass fibers and is expected to witness significant growth during the forecast period. North America is anticipated to observe rising demand for glass fibers due to the wide range of applications. Therefore, the growing application of glass fibers in the transportation and consumer goods in the region is expected to boost the demand for the market. Furthermore, the rising demand for glass fiber in marinas to protect docks from corrosion is expected to increase the demand for glass fibers in the forecast period. Europe glass fibers market is also expected to grow at the fastest pace owing to its large aerospace base. Glass fibers are widely used in aerospace industry to manufacture parts for civilian and military aerospace including enclosures, ducting, test equipment, and others. Therefore, the growing aerospace industry in the region is expected to drive the demand for the glass fiber market. However, increasing usage of carbon fibers as a substitute for glass fiber may hamper the market in the forecast period. But, the increasing demand for glass fiber in the power generation industry is expected to serve as an opportunity for the glass fiber market in the near future. In power generation, glass fibers are used in tank farms and scrubbers owing to its non-conductive property.
In Latin America, the demand for glass fibers is expected to show moderate growth in the forecast period. Growing construction industry in the region is projected to increase the demand for glass fibers in the region. The new constructions and renovation in the region are expected to increase the demand for glass fibers market. Moreover, increasing demand for consumer goods is anticipated to boost the demand for glass fibers in the upcoming years.
Browse the full "Glass Fiber Market by Product Type (Multi-End Roving, Single-End Roving, CSM, Woven Roving, CFM, Fabrics, CS, DUCS, and Others), by Manufacturing Process (Spray Up, Hand Lay-Up, Pultrusion, Prepreg Lay Up, Injection Molding, Resin Infusion, Compression Molding, and Others) by Application (Transportation, Marine, Pipe & Tank, Construction, Aerospace, Electrical & Electronics, Wind Energy, Consumer Goods, and Other Applications) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/glass-fiber-market
The rising industrialization in the Middle East & Africa is expected to register decent market growth for glass fiber in the coming years. In addition, increasing demand for constructions in the region is anticipated to spur the glass fiber market. Growing population has led to increasing the demand for construction of new buildings which, in turn, is expected to propel the usage of the glass fiber market in the region.
The glass fiber market consists of a large number of players. Companies operating in this market are such as BGF Industries, Advanced Glassfiber Yarns LLC, Johns Manville, Nitto Boseki Co. Ltd., Jushi Group Co. Ltd., Chomarat Group, Asahi Glass Company Limited, Owens Corning, and Saint-Gobain Vetrotex, among others.
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The report segments the global glass fiber market as:
Global Glass Fiber Market: Product Type Analysis
- Multi-End Roving
- Single-End Roving
- CSM
- Woven Roving
- CFM
- Fabrics
- CS
- DUCS
- Others
Global Glass Fiber Market: Manufacturing Process Analysis
- Spray-Up
- Hand Lay-Up
- Pultrusion
- Prepreg Lay Up
- Injection Molding
- Resin Infusion
- Compression Molding
- Others
Global Glass Fiber Market: Application Analysis
- Transportation
- Marine
- Pipe & Tank
- Construction
- Aerospace
- Electrical & Electronics
- Wind Energy
- Consumer Goods
- Others
Global Glass Fiber Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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