The global glass fiber market is projected to reach $21.1 billion by 2028, at a CAGR of 5.8% during 2022-2028. The growth of glass fiber market is driven by rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the glass fiber market by end use (marine, transportation, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, compression molding, prepreg layups, injection molding, and others), product type (single end roving, multi end roving, chopped strand mat, fabrics, chopped strand mat, continuous filament mat, chopped strand, and woven roving), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the glass fiber market?
Q.4 What are some changing demands of customers in the glass fiber market?
Q.5 What are the new developments in the glass fiber market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this glass fiber area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this glass fiber market?
Emerging trends, which have a direct impact on the dynamics of the industry, include the innovative trends focused on ultra-high modulus glass fiber and glass fiber based composites parts using 3D technology.
Based on end use, the glass fiber market is segmented into marine, transportation, pipe and tank, aerospace, electrical and electronics, electrical and electronics, consumer goods, wind energy, and others. The electrical and electronics segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, due to the growing market of communication devices are driving the demand for high performance PCBs which significantly drives the glass fiber market.
Asia Pacific is expected to remain the largest region by value and volume over the forecast period because of growth in electrical and electronics, transportation, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the electrical and electronics segment, especially in China and India.
Key Players in the glass fiber market are Owens Corning, Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Taishan Fiberglass Inc., Taiwan Glass Group, Nippon Electric Glass Co. Ltd., Sichuan Weiibo. Co. Ltd, 3B the Fiber Glass Company (Goa Glass Fiber), Johns Manville Corporation, and Nitto Boseki Co. Ltd.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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