According to a new market report published by Lucintel, the future of the global glass fiber market is promising with opportunities in the end use industries such as transportation, construction, pipe and tank, electrical and electronics, wind energy, and consumer goods. The global glass fiber market is expected to reach an estimated $9.4 billion by 2023, and it is forecast to grow at a CAGR of 3.9% from 2018 to 2023. The major growth driver for glass fiber is the rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
On the basis of its comprehensive research, Lucintel forecasts that the segments of construction and pipe & tank are expected to show average growth during the forecast period from 2018 to 2023.
Within the global glass fiber market, transportation is expected to remain the largest market by value and volume consumption. Government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight, and this is the key driver for glass fiber in the transportation industry.
By manufacturing process, injection molding is the major process utilized to manufacture glass composite parts because of high-output production rate, low labor cost, and design flexibility.
By product form, multi-end roving is the major product form of glass fiber used to manufacture composite parts. Multi-end roving fiber is commonly used in transportation, construction, and marine end use applications.
Asia Pacific is expected to remain the largest region by value and volume and is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, 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.
Emerging trends, which have a direct impact on the dynamics of the industry, include cost optimization and performance enhancement of glass fibers. Owens Corning, Jushi, Nippon Electric Glass Co.Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corporation (CPIC), Johns Manville, Nittobo, Goa Glass Fiber Ltd, Taiwan Glass Group, and Sichuan Weibo New Material Group Co., Ltd. are among the major suppliers of the glass fiber market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global glass fiber market by application, product type, manufacturing process, country, and region, and has come up with a comprehensive research report, “Growth Opportunities in the Global Glass Fiber Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global glass fiber market by product type, application, and region, as follows:
By Application Type (million pounds and $ million shipment analysis from 2012 to 2023):
• Pipe and Tank
• Electrical and Electronics
• Consumer Goods
• Wind Energy
By Manufacturing Process (million pounds and $ million shipment analysis from 2012 to 2023):
• Hand lay up
• Spray up
• Resin infusion
• Injection molding
• Compression molding
• Prepreg lay up
By Product Type (million pounds and $ million shipment analysis in 2017):
• Single end roving
• Multi end roving
• Woven roving
By Region (million pounds and $ million shipment analysis from 2012 to 2023):
• North America
• Asia Pacific
• The Rest of the World
By Country (Value ($M) and Volume (M lbs) shipment analysis for 2012- 2023):
This 238-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth areas in the global glass fiber market by application (marine, transportation, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), product type (single end roving, multi end roving, woven roving, fabrics, CSM, CFM, DUCS, and CS), manufacturing process (hand lay up, spray up, resin infusion, pultrusion, injection molding, compression molding, prepreg layups, and others), country (the USA, Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, Taiwan, and Brazil), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2.Which product segments will grow at a faster pace and why?
Q. 3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are emerging trends in this market and the reasons behind them?
Q.7.What are some changing demands of customers in the market?
Q.8.What are the new developments in the market and which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products in this market and how great of a threat do they pose for loss of market share through product substitution?
Q. 11. What M & A activities have transpired in the last 5 years in this market and how have they affected the industry?