30 January 2023
Glass fibre is a widely used industrial material. It comprises multiple fine glass fibres. Glass fibres are mixed in yarn and then weaved into fabrics. They are lightweight, strong, and robust. Due to its bulk weight and strength, most industries use glass fibres as an alternative to metal.
Glass fibres are beneficial because of their large surface area-to-weight ratio. They are made from silica, limestone, and other compounds. The process is carried out in three stages, melting, extruding, and cooling.
Glass fibres are used for many purposes due to their flexibility and microscopic properties. Their application includes home furnishing fabrics, tires, boat hulls and seats, fishing rods, reinforced plastic, and garments and apparel. Additionally, heated glass fibres are used in heat shields for aeronautical gear, nose cones, and exhaust nozzles.
As of 2021, the global glass fibre market was estimated to be $17,195.40 million. However, the global glass fibre market will likely reach $25232.22281 million by 2028 with a compound annual growth rate (CAGR) of 6.60%.
The use of glass fibre is expected to expand the global glass fibre market. Glass fibre is used in many end-user industries, including marine, automobiles, wind energy, consumer goods, architecture, and electrical and electronics. The high demand for glass composites for bathtubs, circuit boards, pipes, tanks, and windmill blades increases the market’s growth. Glass fibres have higher performance than regular metals. Its properties, low-thermal strength, high strength and weight ratio, low friction resistance, electrical strength, and fatigue resistance promote the use of glass fibre, resulting in the growth of the global glass fibre market.
However, three main factors restrain the growth of the global glass fibre market – high production costs, disposal issues, and a lack of funding for R&D for specialised synthetic fibres. The COVID-19 pandemic affected the world with travel bans, lockdowns, and business shutdowns. The global glass fibre market was also negatively impacted because of the COVID-19 pandemic.
Due to the pandemic lockdown regulations, the construction and architecture industry faced various issues, including a labour shortage and a construction halt. As a result, the global glass fibre market experienced a break in growth. The travel ban imposed by China, the USA, and throughout Europe interrupted the shipments, contributing as a restraining factor in the growth of the global glass fibre market.
The global glass fibre market is segmented by region, end-user, and application. Based on region, the global glass fibre market is segmented into North America, Asia-Pacific, Europe, and the rest of the world. At the same time, the end-users are segmented into building and construction, transportation, and energy. Additionally, segmenting based on application includes composites and insulation, and others.
Asia-Pacific dominates the global glass fibre market with the most prominent construction industry, generating the highest revenue with almost 60% production share worldwide. North America shares the second highest shares in the global glass fibre market, followed by the rest of the world.
The global glass fibre market has some major players, including BGF Industries, Owens Corning, 3B Fibreglass, Jushi Group, Johns Manville, Nippon Electric Glass Co. Ltd., Taiwan Glass Industries, Corporation, Taishan Fiberglass INC., Asahi Fiber Glass Co., Ltd., and Chongqing Polycomp International Corporation.
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Douglas Insights provides a comprehensive report on the global glass fibre industry. The report provides a detailed overview of the market trend, estimates, and forecasts regarding the global glass fibre market’s technological, economic, and business aspects. A thorough examination of the regions, product categories, glass and resin types, and end users is also mentioned.
The report provides insight into the global markets of glass fibre. Data from 2020 is used as the base year to estimate revenues based on the price of the supply chain. The report also uses data from 2023 to predict the compound annual growth rates until 2026.
The report contains 236 data tables to understand the market before COVID and how it is expanding. COVID’s impact on the automotive, construction, electronics, energy, and power industries is also mentioned in detail.
Additionally, the report mentions the market gaps, driving forces, restraints, challenges, microeconomic factors, and areas of focus to predict the global glass fibre market’s segments and sub-segments. These factors also help in understanding the demand and supply of glass fibre.
The report categorises the global glass fibre market segmented based on product type, glass type, risen type, and end-users. The product type segment includes glass wool, roving, yarn, strands, and others.
The segment based on glass type includes S-Glass, C-glass, E-glass, ECR-glass, and others. The resin type segment includes epoxy, polyesters, polyamide, vinyl esters, polypropylene, and others.
The end-user segment includes electrical and electronics, pipe and tank, transportation, construction, consumer goods, energy and power, and others.
Additionally, the report thoroughly reviews leading companies in the global glass fibre market. These countries include the U.S., Mexico, Brazil, Canada, China, Japan, India, the U.K., Germany, France, Russia, Italy, and GCC countries.
A detailed review of the glass fibre manufacturing process is discussed in the report. In addition, value chain analysis, commercial factors, technology evaluation, and economic analysis can be found in the report.
The report gives an insight into the competitive landscape of the global glass fibre market, including key leaders with their market share analysis, strategic business alliances, in-house technology, and other strategic developments.
The report provides comprehensive profiles of the top companies in the global glass fibre market, including PFG Fiber Glass Corp., Nippon Electric Glass Co., Ltd., Glasstex Fiberglass Materials Corp., Owens Corning, Saint-Gobain Jushi Group Co., Ltd., and Chongqing Polycomp International Corp. (CPIC).
If you are a company operating in the glass fibre market, then the report on the global glass fibre market by Douglas Insights can be a lucrative addition to your business. The report provides an in-depth review of the global glass market, helping you make smart decisions and better understand the global glass fibre market.
For more details on the global glass fibre market, click here.
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