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Opportunities For The Global Glass Fiber Market To Reach $10 Billion By 2024
According to a new market report published by Lucintel, the future of the global glass fiber market is promising with opportunities in the transportation, construction, pipe and tank, electrical and electronics, consumer goods, and wind energy industry. The global glass fiber market is expected to reach an estimated $10 billion by 2024 with a CAGR of 3.9% from 2019 to 2024. The major driver for this market is rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
In this market, E (ECR) glass, S glass, C glass, and D glass are utilized to manufacture composite parts for different end use industries. On the basis of its comprehensive research, Lucintel forecasts that E (ECR) glass will remain the largest fiber type by value and volume over the forecast period.
Within the global glass fiber market, transportation will remain the largest market by value and volume over the forecast period due to 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.
In this glass fiber market, injection molding, hand layup, compression molding, spray up, filament winding, resin infusion, and prepreg layup are some of the major processes utilized to manufacture glass composite parts. Injection molding is expected to be the largest process in terms of value and volume because of low cycle time, low manufacturing cost, and ability to make complex shapes.
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, fiber type, product type, manufacturing process, country, and region, and has come up with a comprehensive research report, “Growth Opportunities in the Global Glass Fiber Market 2019-2024: 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 application type, fiber type, product type, manufacturing process, region, and country as follows:
By Application Type (million pounds and $ million shipment analysis from 2013 to 2024):
• Wind energy
• Pipe and Tank
• Electrical and Electronics
• Consumer Goods
By Fiber Type (million pounds and $ million shipment analysis from 2013 to 2024)
• E/ECR Glass fiber
• S Glass fiber
• C Glass Fiber
By Product Type (million pounds and $ million shipment analysis in 2018):
• Single end roving
• Multi end roving
• Woven roving
By Manufacturing Process (million pounds and $ million shipment analysis from 2013 to 2024):
• Hand lay up
• Spray up
• Resin infusion
• Injection molding
• Compression molding
• Prepreg lay up
By Region (million pounds and $ million shipment analysis from 2013 to 2024):
• North America
• Asia Pacific
• The Rest of the World
By Country (Value ($M) and Volume (M lbs) shipment analysis for 2013- 2024):
This 240-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, strategic growth consulting, market research due diligence and business strategy consulting.
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