The scope of our recent study on the “Glass Fiber Market Forecast to 2027 – COVID-19 Impact and Global Analysis – By Fiber Type (E/ECR-Glass Fiber, S-Glass Fiber, C-Glass Fiber , and Others), Product Type (Single-End Roving, Multi-End Roving, Woven Roving, and Others), Application (Marine, Transportation, Aerospace, Construction, Electrical and Electronics, Consumer Goods, and Others), Manufacturing Process (Hand Lay Up, Spray Up, Prepreg Lay Up, Injection Molding, Compression Molding, Resin Infusion, and Others) includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The glass fiber market was valued at US$ 14,193.55 million in 2019 and is projected to reach US$ 19,837.62 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027. Glass fibers possess excellent corrosion resistance, higher stiffness and strength, and high tensile strength along with high-temperature tolerance and durability. These fibers find their application in broad end-use industries such as automotive, construction, marine, wind energy, aerospace & defense, and others. However, the challenges of the production process, cost-intensive nature of new technologies and low profit margins of glass fiber are limiting the market growth.
Based on product type, global glass fiber market is segmented into Single-End Roving, Multi-End Roving, Woven Roving, and Others. The others segment led the global glass fiber market in 2019. The others segment includes Fabrics, CSM, CFM, DUCS, CS, OptiSpray Roving, Cem-FILRoving. Direct Roving, and others. OptiSpray Roving represents a compelling solution for fabricators, which want to save time and resin while enhancing product performance. Cem-FIL Roving is an alkali resistant glass fiber assembled roving produced for use in manufacturing glass fiber reinforced concrete composites by the simultaneous spray method. Cem-FILRoving offers advantages such as alkali resistant glass, good unwinding, easy chopping, and high split efficiency, perfect for use with complex profiles and great mechanical performance. Manufacturers such as Owens Corning offer OptiSpray F Roving, Cem-FILRoving 5325, Cem-FILRoving 62.4, Cem-FIL Roving 62/70. Saint-Gobain Vetrotex offers Direct Roving, which is a splice-free single-end roving made of E-Glass and suitable for multiple textile technologies.
The global glass fiber market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America. In 2019, APAC is expected to be the fastest-growing market for glass fibers in the coming years. With the growth of transportation, construction, electrical & electronics, aerospace, and other industries, the demand for glass fiber has substantially gone up in the region. Construction industry is among the major consumers of glass fibers. Rapid infrastructural development in emerging markets such as India and China is driving the demand for advanced glass fibers.
Impact of COVID-19 Pandemic on Glass fiber Market
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemicals and materials industry in a negative manner, thus act as restraining factor for the growth of glass fiber market.
Glass Fiber Market Breakdown –by Region, 2019
Glass Fiber Market, by Fiber Type
- E/ECR Glass Fiber
- S Glass Fiber
- C Glass Fiber
Glass Fiber Market, by Product Type
- Single-End Roving
- Multi-End Roving
- Woven Roving
Glass Fiber Market, by Application
- Electrical and Electronics
- Consumer Goods
Glass Fiber Market, by Manufacturing Process
- Hand Lay Up
- Spray Up
- Prepreg Lay Up
- Injection Molding
- Compression Molding
- Resin Infusion
Glass Fiber Market, by Geography
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- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East &Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East &Africa
- South America
- Rest of South America