Glass Fiber Reinforcement Materials Market Expected to Reach $14,084 Million with top key players 3B-Fiberglass, Jushi Group, PPG Fiberglass, Taishan Fiberglass, Chongqing Polycomp International Corp (CPIC), Saint-Gobain Vetrotex, Asahi Glass, Nippon Elec

Glass Fiber Reinforcement Materials Market Report, published by Allied Market Research, forecasts that the global market was valued at $8,468 million in 2015, and is expected to reach $14,084 million by 2022, supported by a CAGR of 7.6% during the forecast period 2016 to 2022. The construction segment occupied more than one-third share of the global market in 2015.

The driving factors for global glass fiber market include growth in demand from the construction & transportation industry, exceptional properties of glass fiber over other reinforcement materials, and low cost compared to carbon fiber. However, the recycling and disposal of glass-fiber related products are expected to impede the market growth during the forecast period.

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Several glass fiber manufacturing companies are making efforts to overcome this restraint in the future by developing in-house facilities for recycling the waste into marketable products. Moreover, the introduction of carbon/glass hybrids for use in industries where carbon fiber use is expensive and developing glass fibers with desired properties of both E- and S-2 glass are expected to create lucrative opportunities for growth in the market.

Key Findings of Glass Fiber Reinforcement Materials Market:

• The industrial segment is expected to witness the highest growth rate from 2016 to 2022, in terms of both value and volume.

• In 2015, Asia-Pacific generated highest revenue, region-wise, with over one-third share of the global market.

• China accounted for one-fifth of the global market revenue in 2015.

• The construction segment dominated the market in 2015, and is expected to maintain its lead throughout the forecast period.

• In terms of both value and volume, the woven roving segment occupied majority of the market share.

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The construction segment dominated the glass fiber market in 2015, attributed to the exceptional strength, impact resistance, fire resistance, and non-decaying nature of glass fiber. Glass fiber is used in the construction industry for the production of mesh fabrics, self-adhesive tapes, wall coverings, laid scrim, and flooring.

Asia-Pacific is anticipated to grow with the highest rate during the analysis period, owing to the demand from construction and automotive & aerospace industries and rise in infrastructural activities, especially in developing countries, such as India, China, Korea, and Japan.

Top key players :

• 3B-Fiberglass
• Jushi Group
• PPG Fiberglass
• Taishan Fiberglass
• Chongqing Polycomp International Corp (CPIC)
• Saint-Gobain Vetrotex
• Asahi Glass
• Nippon Electric Glass Co. Ltd.
• BASF SE.

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