New Castle, Delaware, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Epoxy Glass Market by End Use Industry (Aerospace and Defense, Automotive and Transportation, Electrical and Electronics, Wind Energy, Sporting Goods, Marine, Pipe and Tank, Others) Global Opportunity Analysis and Industry Forecast, 2023-2032 ". According to the report, The epoxy glass market was valued at $12.7 billion in 2022 and is estimated to reach $24.6 billion by 2032, exhibiting a CAGR of 6.9% from 2023 to 2032.
Epoxy glass, also known as fiberglass reinforced epoxy or FR4, is a transparent, hard and brittle substance that is derived from the polymerization of epoxides. It is ideal for high temperature, electrical and mechanical applications.
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Prime determinants of growth
The expansion of the electronics industry, driven by advancements in technology, increased demand for consumer electronics, communication devices, automotive electronics, and other electronic components, has a direct impact on the epoxy glass market. Epoxy glass is a fundamental material in PCB manufacturing, and as the electronics industry grows, so does the demand for epoxy glass laminates. However, the cost of epoxy resin and glass fabric, which are the primary materials used in epoxy glass laminates, can be subject to fluctuations due to factors such as supply chain disruptions, raw material shortages, and changes in demand. This may lead to price volatility and impact the profitability of manufacturers and the purchasing decisions of customers. On the contrary, the expansion of the electronics industry, driven by advancements in technology and the proliferation of smart devices, provides a significant opportunity for epoxy glass laminates. As electronic devices become more complex and integrated, the demand for reliable and high-performance PCB materials like epoxy glass laminates increases.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $12.7 billion |
| Market Size in 2032 | $24.6 billion |
| CAGR | 6.9% |
| No. of Pages in Report | 206 |
| Segments covered | End Use Industry and Region. |
| Drivers | Rise in demand from various end-use industries. Surge in renewable energy usage. Expansion of residential and commercial developments. |
| Opportunities | Advancements in manufacturing process. |
| Restraints | High production cost. Availability of substitutes. |
The automotive and transportation segment to maintain its leadership status throughout the forecast period
Based on end use industry, automotive and transportation held the highest epoxy glass market share in terms of revenue in 2022, accounting for nearly one-fourth of the global market and is projected to maintain its dominant share in terms of revenue in 2032. It is also projected to grow at the highest CAGR of 7.6% from 2023 to 2032. The automotive and transportation sector is undergoing a profound transformation, driven by the imperative for greater efficiency, sustainability, and technological innovation. Within this context, epoxy glass composites have emerged as a pivotal trend, presenting a wide array of opportunities that are reshaping the industry.
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Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global epoxy glass market and is projected to maintain its dominant share in terms of revenue in 2032. It is also projected to grow at the highest CAGR of 7.2% from 2023 to 2032. As countries in the region continue to invest heavily in building new structures and upgrading existing ones, the demand for durable and high-strength materials such as epoxy glass has soared. Epoxy glass's exceptional mechanical properties, including high tensile strength and resistance to corrosion, make it an ideal choice for applications in bridges, buildings, and other critical infrastructure projects.
Leading Market Players: -
- VENTEC INTERNATIONAL GROUP
- HEXCEL CORPORATION
- ISOSPORT VERBUNDBAUTEILE GMBH
- PARK AEROSPACE CORP.
- PANASONIC HOLDINGS CORPORATION
- B.B. CHATTERJEE COMPANY PRIVATE LIMITED
- INDUSTRIAL ELECTRICAL ENGINEERING COMPANY
- AXIOM MATERIALS, INC.
- HARNAWA INC.
- SHIBAAM POLYMERS
The report provides a detailed analysis of these key players in the global epoxy glass market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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