Press release
Fiberglass Roving Market Growing Due To, Increase In Installation of Wind Energy Unit By 2026
Narrow and long bundle of fibers is known as roving. Fiberglass roving consist of numerous microscopic glass filaments. These are often commercially sold as woven roving. Fiberglass roving are available in various weights, weaves, finishes, and widths. These are lightweight materials with exceptional strength compared to other composites. They also possess the ability to add bulkiness and thickness to the product.
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Fiberglass Roving Market: Overview
Increase in installation of wind energy units is the major factor driving the fiberglass roving market. Rise in acceptance of GFRP materials composed of fiberglass roving in the automotive industry is also augments the fiberglass roving market. Furthermore, growth in usage of fiberglass roving in automotive and construction industries owing to their lightweight and exceptional strength is boosting the demand for fiberglass roving. However, concerns related to recycling of fiberglass roving materials is hampering the fiberglass roving market. Slow rate of development of low-cost technologies for producing fiberglass roving is also adversely affecting the market. Nevertheless, rise in demand for fiberglass roving in GFRP pipes applications is expected to offer lucrative opportunities to the market.
Based on glass fiber type, the fiberglass roving market can be segmented into E-glass fiber, ECR-glass fiber, H-glass fiber, AR-glass, and S-glass fiber. The E-glass fiber segment is dominating the market owing to its properties such as cost effectiveness, lightness of weight, electrical insulation, corrosion resistance, and moderate strength. Based on product type, the fiberglass roving market can be divided into single-end roving, multi-end roving, and chopped roving. In terms of revenue, single-end roving is the major segment of the fiberglass roving market owing to its increased usage in pultrusion and filament winding applications.
Fiberglass Roving Market: Trends & Developments
Leading manufacturers and research institutions are making significant investments to come up with a low-cost fiberglass roving technology in order to lower the capital investment cost. Research institutions are also making investments in order to enhance the recycling properties of fiberglass roving.
Based on application, the fiberglass roving market can be segregated into wind energy, electrical & electronics, transportation, pipes & tanks, construction & infrastructure, marine, and aerospace & defense. In terms of revenue, transportation was estimated to be the major segment of the market during the forecast period.
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Fiberglass Roving Market: Regional Outlook
Asia Pacific is the key consumer of fiberglass roving. Growth in wind energy unit installations is the major factor driving the fiberglass roving market in the region.
Rise in construction activities in countries such as India, Taiwan, Indonesia, and Malaysia has boosted the demand for fiberglass roving products, thereby driving the market in these countries. High rate of automotive production in China and Japan has also resulted in extensive usage of fiberglass roving in Asia Pacific.
Fiberglass Roving Market: Key Players
Key manufacturers operating in the global fiberglass roving market include Taiwan Glass Industry Corp., Owens Corning, China Beihai Fiberglass Co., Ltd., Saint-Gobain S.A., AGY Holdings Corp, Binani Industries Ltd, Nippon Electrical Glass Co., Ltd, Taishan Fiberglass Inc., and Celanese Corporation.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
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Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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