DUBLIN, March 29, 2024 /PRNewswire/ — The “Glass Fiber Market: Trends, Opportunities and Competitive Analysis to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global glass fiber market has experienced significant growth over the years, driven by its wide range of applications across industries such as construction, automotive, aerospace, and wind energy. This market report provides an in-depth analysis of the glass fiber industry, including market trends, market share, key players, and future growth prospects.
The global glass fiber market is expected to reach an estimated $15 billion by 2030 with a CAGR of 3% from 2023 to 2030. The major driver for this market is rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
The future of the global glass fiber market is promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy.
Emerging Trends in the Global Glass Fiber Market
- The glass fiber market is poised for continued growth in the coming years. One of the primary drivers of market growth is the increasing demand for lightweight materials in various industries. Glass fiber composites are widely used to replace traditional materials such as steel and aluminum due to their superior strength-to-weight ratio. Industries such as automotive, aerospace, and wind energy are adopting glass fiber composites to improve fuel efficiency, enhance performance, and reduce overall weight.
- Additionally, the construction industry plays a significant role in driving the glass fiber market. Glass fiber reinforcement is extensively used in concrete and other building materials to enhance structural integrity, increase durability, and reduce the risk of cracks and corrosion. With the rapid urbanization and infrastructure development across the globe, the demand for glass fiber in construction applications is expected to witness substantial growth.
- Emerging trends, which has a direct impact on the dynamics of the industry, are the innovative trends focused on ultra-high modulus glass fiber and glass fiber based composites parts using 3D technology.
Global Glass Fiber Market by Segment
The study includes trends and forecast for the global glass fiber market by end use, manufacturing process, product type, and region as follows:
Global Glass Fiber Market by End Use [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 – 2030]:
- Marine
- Transportation
- Pipe and Tank
- Aerospace
- Construction
- Electrical & Electronics
- Consumer Goods
- Wind Energy
- Others
Global Glass Fiber Market by Manufacturing Process [Volume (M lbs) Shipment Analysis for 2018 – 2030]:
- Hand Lay-Up
- Spray Up
- Resin Infusion
- Filament Winding
- Pultrusion
- Compression Molding
- Prepreg Layup
- Injection Molding
- Others
Global Glass Fiber Market by Product Type [Volume (M lbs) Shipment Analysis for 2023]:
- Single End Roving
- Multi End Roving
- DUCS
- Continuous Filament Mat
- Yarn
Global Glass Fiber Market by Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 – 2030]:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Insights by Segment
- Construction is forecast to remain the largest end use by value and volume due to growing infrastructure development and rising demand for energy-efficient buildings. Aerospace is expected to witness highest growth over the forecast period.
- Single end roving will remain the largest product type by volume over the forecast period.
- Asia-Pacific is expected to remain the largest region by value and volume over the forecast period because of growth in construction, pipe and tanks, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India and it is also expected to witness the highest growth over the forecast period.
Glass Fiber Market Share
The global glass fiber market is witnessing robust growth, driven by the demand for lightweight, high-performance materials across industries such as construction, automotive, aerospace, and wind energy. Key players in the industry are investing in research and development to offer innovative glass fiber products and gain a competitive edge. The future of the market looks promising, with technological advancements and sustainability driving market expansion. Overall, the glass fiber market is poised for continued growth.
Glass Fiber Manufacturers
The global glass fiber market is highly competitive, with several key players vying for market share. Some of the leading companies in this market include Owens Corning, Jushi Group Co., Ltd., Nippon Electric Glass Co., Ltd., Taishan Fiberglass Inc., and Johns Manville Corporation. These players invest in research and development to innovate and offer advanced glass fiber products to cater to diverse customer requirements.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies global glass fiber companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the global glass fiber companies profiled in this report include.
- 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/j1744e
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