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NEW YORK , May 2, 2022 /PRNewswire/ -- As per Zion Market Research study, The global Glass Fiber market was worth around USD 17,195.40 million in 2021 and is estimated to grow to about USD 25232.22281 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.60 percent over the forecast period. The report analyzes the digital remittance market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Key Industry Insights & Finding of the Glass Fiber Market Reports:
Zion Market Research published the latest report titled as "Glass Fiber Market By Type (Glass, Carbon, Aramid, Ultra-High Molecular Weight Polyethylene (UHMWPE) Fibers, Polyphenylene Sulfide (PPS) Fibers And Other Fibers), By Application (Composite And Non-Composite), By End Use (Aerospace & Defense, Wind Energy, Transportation, Construction & Infrastructure, Marine, Pipe & Tank, Electrical & Electronics, Protective Clothing And Others) And By Region – Global Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data And Forecasts 2022 – 2028." into their research database.
Glass fibers are one of the most versatile industrial materials, consisting of numerous extremely fine glass fibers. Glass fibers are used as polymer reinforcement in a variety of industries, including aerospace, automotive, marine, sporting and leisure goods, and construction and civil engineering. During the next five years, glass fibers are expected to dominate the overall market in terms of volume and value. Because of their low cost and superior physical and mechanical properties such as strength, durability, flexibility, stability, and lightweight, glass fibers are in high demand. E-glass fibers are commonly used in the wind energy, pipes and tanks, electrical and electronics, and construction and infrastructure industries. High strength glass, such as R, S, S-2, and advances, is used in the aerospace and defense, automotive and transportation, and wind energy industries, among others.
The automotive and transportation industries have witnessed a significant increase in demand for fiberglass panels, fiberglass resin, and fiberglass epoxy. The demand for these composite materials is driven by their ability to make vehicle structures lower in weight while maintaining strength. The growing popularity of electric vehicles has raised the need to make vehicles lighter, which is likely to drive demand for fiberglass materials.
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Glass Fiber Market: Growth Dynamics
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Global Glass Fiber Market: Segmentation
By end use, the market is classified into Aerospace & defense, Wind Energy, Transportation, Construction & Infrastructure, Marine, Pipe & Tank, Electrical & Electronics, Protective Clothing and Others. This category had a significant share in 2021 and is expected to maintain its dominance throughout the forecast period. Wind energy is expected to have the biggest share in terms of volume during the projection period. In the production of wind turbine blades, nacelles, and hubs, glass and specialty synthetic fibers are in high demand. Many businesses are investing in the development of composite materials for the wind energy industry.
By application, the market is divided into composites and non-composites. Composites accounted for the highest share of the market and are expected to increase rapidly over the forecast period. Composites are multiphase materials that have been synthesized artificially in order to achieve a favorable mix of materials. Composites are typically materials made up of high-strength fibers with a high modulus inserted in or bonded to a matrix with different interfaces.
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List of Key Players of Glass Fiber Market:
Key questions answered in this report:
By Product Type, By Application, and By End Use
Value (USD Million), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), DSM (Netherland), Honeywell international, Inc. (US), Jushi Group Co., Ltd. (China).
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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North American demand for fiberglass accounts for the largest share. Increased investment in the construction and building industries is expected to drive North American fiberglass consumption.
In the global glass Fiber market, Asia Pacific accounted for the greatest proportion. In the future years, APAC is predicted to be the fastest-growing market for glass fibers. The need for glass Fiber has increased significantly in the region as a result of the expansion of the transportation, construction, electrical and electronics, aerospace, and other industries. Glass fibers are used extensively in the construction industry. The need for advanced glass fibers is being driven by rapid infrastructure development in emerging economies such as India and China.
Global Glass Fiber Market is segmented as follows:
Glass Fiber Market: By Fiber Type Outlook (2022-2028)
Glass Fiber Market: By End-use industry Outlook (2022-2028)
Glass Fiber Market: By Application Outlook (2022-2028)
Glass Fiber Market: By Region Outlook (2022-2028)
Press Release For Glass Fiber Market: https://www.zionmarketresearch.com/news/global-glass-fibre-market
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