The global glass fiber market is expected to reach an estimated $9.4 billion by 2022 and it is forecast to grow at a CAGR of 4.8% from 2017 to 2022 The major driver for market growth is the rise in demand for glass composite-made products, including bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
Emerging trends, which have a direct impact on the dynamics of the glass fiber industry, include cost optimization and performance enhancement of glass fibers. Other trends include the increased presence of Chinese companies in Europe and in the Middle Eastern through increasing plant capacity, mergers, and acquisitions.
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.
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.
3B the Fiber Glass Company (Goa Glass fiber)
Chongqing Polycomp International Corporation (CPIC)
Jushi Group Co., Ltd.
Nippon Electric Glass Co., Ltd.
PPG Fiber Glass
Sichuan Weibo. Co., Ltd.
Taishan Fiberglass Inc.
Taiwan Glass Group
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022