IRVING, Texas, June 14, 2017 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global glass fiber market is attractive with opportunities in the end use industries such as transportation, construction, pipe and tank, electrical and electronics, wind energy, and consumer goods. 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.
Browse 101 market data tables and 139 figures spread through 235 pages and in-depth TOC on “Global Glass Fiber Market"
In this market, transportation, construction, pipe and tank, electrical and electronics, consumer goods and wind energy are the major end use industries. On the basis of its comprehensive research, Lucintel forecasts that the segments of wind energy and construction are expected to show average growth during the forecast period from 2017 to 2022.
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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.
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By manufacturing process, injection molding is the major process used to manufacture glass composite parts because of high-output production rate, low labor cost, and design flexibility.
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.
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Emerging trends, which have a direct impact on the dynamics of the 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. Owens Corning, Jushi, Chongqing Polycomp International Corporation (CPIC), PPG Fiber Glass, and Taishan Fiberglass Inc. are among the major suppliers of the glass fiber market.
The study includes a forecast for the global glass fiber market by product type, application, and region, as follows:
By Application Type (Value ($M) and Volume (M lbs) shipment analysis for 2011- 2022):
- Marine
- Transportation
- Pipe and Tank
- Aerospace
- Construction
- Electrical and Electronics
- Consumer Goods
- Wind Energy
- Others
By Manufacturing Process (Value ($M) and Volume (M lbs) shipment analysis for 2011 - 2022):
- Hand lay up
- Spray up
- Resin infusion
- Pultrusion
- Injection molding
- Compression molding
- Prepreg lay up
- Others
By Product Type (Value ($M) and Volume (M lbs) shipment analysis for 2016):
- Single end roving
- Multi end roving
- Woven roving
- Fabrics
- CSM
- CFM
- DUCS
- CS
- Others
By Region (Value ($M) and Volume (M lbs) shipment analysis for 2011- 2022):
- North America
- Europe
- Asia Pacific
- The Rest of the World
By Country (Value ($M) and Volume (M lbs) shipment analysis for 2011- 2022):
- USA
- Canada
- Mexico
- Germany
- France
- Italy
- Spain
- UK
- China
- India
- Japan
- Taiwan
- Brazil
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