Glass Fiber Market Insights:
The Glass Fiber Market was analyzed which was worth USD 27.4 Billion in the year 2022, expecting a CAGR of 7% during the forecast period (2023-2030), and the market is projected to be valued at USD 47.08 Billion by 2030.
Driver:
The increased adoption of Glass Fiber in the Specialty Glass, Ceramic & Fiber is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Glass Fiber also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Glass Fiber in many sectors also boosts the market growth during the forecast period.
Glass fiber, also known as fiberglass, is a type of reinforced plastic that is made from fine glass fibers woven into a fabric or mat. These fibers are made from melted glass that is drawn into thin strands, or filaments, and then woven together to create a flexible, strong, and lightweight material. Glass fiber is used in a wide range of applications, including in construction, transportation, and industrial settings. It is commonly used as a reinforcement material in composite materials, such as fiberglass reinforced plastic (FRP), which are used to make products such as boat hulls, automobile body parts, and wind turbine blades. It is also used in insulation products, such as fiberglass batts and blown-in insulation, to provide thermal resistance.
Glass Fiber Market Research Report” was just released by Market Research Community. It is divided into several categories, including Resin Type (Chopped Strands, Glass Wool, Roving, Yarn), application (Composites, Insulation), End-user Industry (Buildings and Construction, Automotive, Aerospace and Defense, Alternative Energy, Consumer Goods, Industrial, Other End-user Industries (Electronics, etc.)), and companies (Owens Corning , Saint-Gobain Vetrotex , Johns Manville , Nippon Electric Glass Co., Ltd., China Jushi Co., Ltd.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 7%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 47.08 Billion |
| CAGR (2023-2030) | 7% |
| By Resin Type | Chopped Strands, Glass Wool, Roving, Yarn |
| By Application | Composites, Insulation |
| By End-user Industry | Buildings and Construction, Automotive, Aerospace and Defense, Alternative Energy, Consumer Goods, Industrial, Other End-user Industries (Electronics, etc.) |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Owens Corning , Saint-Gobain Vetrotex , Johns Manville , Nippon Electric Glass Co., Ltd., China Jushi Co., Ltd. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Glass Fiber market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Owens Corning , Saint-Gobain Vetrotex , Johns Manville , Nippon Electric Glass Co., Ltd., China Jushi Co., Ltd.
Market Segment Analysis:
By Resin Type
- Chopped Strands
- Glass Wool
- Roving
- Yarn
By Application
- Composites
- Insulation
By End-user Industry
- Buildings and Construction
- Automotive
- Aerospace and Defense
- Alternative Energy
- Consumer Goods
- Industrial
- Other End-user Industries (Electronics, etc.)
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Glass Fiber industries in the region.
Key Glass Fiber Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Glass Fiber Market segments.
– Largest Market Share Held by Industry to Industry for Glass Fiber
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Glass Fiber Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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