Pune India, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Fiberglass Fabric market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Fiberglass Fabric market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Product, Fabric Type, Application, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Fiberglass Fabric market are Hangzhou Mingda Glass Finbre Co. Ltd, Zhejiang Yuanda Fiberglass Mesh Co. Ltd, Tianyu, Changshu Jiangnan GlassFiber Co. Ltd, Xiangyang Huierjie Glassfibre, Chaozhou Chuangjia Group Co. Ltd, Saint Gobain (Adfors), Valmiera Glass Group among others. To achieve a substantial market share in the worldwide Fiberglass Fabric market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A wide variety of end-use industries, including the chemical, aerospace and military, automotive and transportation, wind energy, building and construction, and others, have an increasing need for fiberglass fabric. Due to their extensive range of qualities, such as high tensile strength, dimensional stability, high heat resistance, fire resistance, great thermal conductivity, superior chemical resistance, and more, fiberglass fabrics are highly sought after in a variety of industries. The manufacture of fiber is particularly time-consuming and difficult due to the use of labor- and time-intensive manufacturing procedures including vacuum-assisted transfer molding (VARTM) and autoclaving. In addition, a lot of energy is required. A sizeable portion of the total cost of generating fiber is contributed by the price of energy alone. In the highly skilled field of composite production, labor is nearly expensive. Due to the expensive cost of the furnace and related equipment, the product demands a sizeable capital expenditure, which is restricting the Fiberglass Fabric market. Global demand for fiberglass fabrics has expanded as a result of the growth of several significant end-use industries. The consumption of fiberglass fabric has lately expanded at the fastest pace in the building sector, which has aided the expansion of the sector.
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Scope of Fiberglass Fabric Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Fabric Type, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Hangzhou Mingda Glass Finbre Co. Ltd, Zhejiang Yuanda Fiberglass Mesh Co. Ltd, Tianyu, Changshu Jiangnan GlassFiber Co. Ltd, Xiangyang Huierjie Glassfibre, Chaozhou Chuangjia Group Co. Ltd, Saint Gobain (Adfors), Valmiera Glass Group among others |
Segmentation Analysis
E-Glass are expected to be the fastest-growing segment in 2022.
The Product segment is E-Glass, S-Glass, and Others. E-Glass is expected to be the fastest-growing segment in 2022. Coatings made on aromatic polyurea dominated the market. Fiberglass fabric made by E-Glass dominated the market. E-glass fibers provide superior strength, corrosion resistance, chemical resistance, and heat resistance at a lower cost than S-Glass textiles. E-Glass Fiberglass Fabric's excellent strength is a key factor in the market.
Nonwoven is expected to be the fastest-growing segment in 2022.
The Fabric Type segment is Woven and Nonwoven. Nonwoven is expected to be the fastest-growing segment in 2022. Compared to woven fabrics, fiberglass nonwoven fabric has enhanced impact resistance and thermal insulation. It is a strong fabric. These materials are also fairly excellent at filtering a range of liquids and have a lifespan that is 10 to 15 times longer than those made of metal and cotton. The demand for them is predicted to rise even more during the course of the forecast period.
Construction is expected to be the fastest-growing segment in 2022.
The Application segment is Aerospace & Defense, Construction, Electrical & Electronics, Marine, Transportation, Wind Energy, and Others. Construction is expected to be the fastest-growing segment in 2022. Due to the growing demand for structural reinforcing materials in construction and architectural projects. Estimates suggest that the product's increased use in the construction industry is partly attributable to its resistance to longitudinal and transverse stresses, chemicals, and corrosion.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Fiberglass Fabric include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. A significant portion was seen in the Asia Pacific area. The rise is mostly attributable to the demand for fiberglass fabric in electrical and electronic applications as well as wind power. The markets for electronics, electricity and wind energy are growing significantly in the Asia-Pacific region.
Country Analysis
- Germany
Germany's Fiberglass Fabric Market size was valued at USD 0.08 billion in 2022 and is expected to reach USD 0.10 billion by 2030, at a CAGR of 3% from 2023 to 2030. A little growth is foreseen for the German market for fiberglass fabric over the course of the forecast timeframe. This is a result of the predicted increase in building in the area. In Germany, steady growth is foreseen throughout the predicted years. Germany's major construction projects are anticipated to increase demand for fiberglass fabric
- China
China’s Fiberglass Fabric Market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.13 billion by 2030, at a CAGR of 6.5% from 2023 to 2030.
Asia-Pacific is the region where the electrical and electronics industry is concentrated, with China leading this market. Another development driver for the fiberglass fabric industry in the China region is the need for fiberglass fabric for PCB fabrication.
- India
India's Fiberglass Fabric Market size was valued at USD 0.07 billion in 2022 and is expected to reach USD 0.08 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. In the field of transportation, India is predicted to become the dominant nation. As the transportation industry develops, it is projected that the demand for fiberglass fabric for use in interior and external parts will increase. The nation is also growing in the building industry.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven by increasing uses for temperature resistant fabrics.
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