According to our latest market study on “Glass Fiber Market Forecast to 2027 – COVID-19 Impact and Global Analysis – By Fiber Type ( E/ECR-Glass Fiber, S-Glass Fiber, C-Glass Fiber , and Others ), Product Type ( Single-End Roving, Multi-End Roving, Woven Roving, and Others ), Application ( Marine, Transportation, Aerospace, Construction, Electrical and Electronics, Consumer Goods, and Others ), Manufacturing Process ( Hand Lay Up, Spray Up, Prepreg Lay Up, Injection Molding, Compression Molding, Resin Infusion, and Others)”, the market was valued at US$ 14,193.55 million in 2019 and is projected to reach US$ 19,837.62 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Glass fiber is a material consisting of extremely fine filaments of glass that are combined in yarn and woven into fabrics. It is made by blending and melting silica (SiO2), limestone, and soda ash in a three-stage furnace, extruding the molten glass through a bushing in the bottom of the forehearth and then cooling the filaments with water. Glass fibers possess excellent corrosion resistance, higher stiffness and strength, and high tensile strength and find their application in broad end-use industries such as automotive, construction, marine, wind energy, aerospace & defense, and others. However, the challenges of the production process, cost-intensive nature of new technologies and low profit margins of glass fiber are limiting the market growth.
Rising Demand From Construction And Automotive Industries To Boost The Global Glass Fiber Market
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Glass fibers are used in glass fiber reinforced concrete, which is utilized in the construction of walls, fireplace surrounds, foundations, cladding, vanity tops, and concrete countertops. It is mainly used in exterior building facade wall panels and as architectural precast concrete. Glass fibers act as the main carrier providing high tensile strength and making the concrete flexible and resistant to cracking. Alkali-resistant glass fibers (ARGF) are widely used in construction materials. ARGFs significantly improve the tensile strength, flexural toughness, modulus of rupture, and wearing resistance of concrete. Such concrete is used for crack prevention, thus, finds wide applications in the construction sector. Further, The automotive industry uses number of materials such as iron, aluminum, plastic, steel, and glass to build cars and other vehicles.
Glass fiber is a material consisting of extremely fine filaments of glass that are combined in yarn and woven into fabrics. It is made by blending and melting silica (SiO2), limestone, and soda ash in a three-stage furnace, extruding the molten glass through a bushing in the bottom of the forehearth and then cooling the filaments with water. Glass fibers possess excellent corrosion resistance, higher stiffness and strength, and high tensile strength along with high-temperature tolerance and durability. These fibers find their application in end-use industries such as automotive, construction, marine, wind energy, and aerospace & defense. However, the challenges of the production process, cost-intensive nature of new technologies and low profit margins of glass fiber are limiting the market growth.
Johns Manville; Jushi Co., Ltd.; Chongqing Polycomp International Corp. (CPIC); Goa Glass Fiber Ltd; Nippon Electric Glass Co. Ltd; Saint-Gobain Vetrotex; Sichuan Weibo New Material Group Co., Ltd.; Taishan Fiberglass Inc; Taiwan Glass Group; and Owens Corning are among the well-established players in the global glass fiber market.
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