High-Performance Glass Fiber Market in the advanced material industry is Likely to Reach US$ 390.6 million in 2023

Launching announcement of a new research report on High-Performance Glass Fiber Market which is projected to reach US$ 390.6 million by 2023 - forecasted by Stratview Research. The study provides an in-depth by End-Use Industry (Aerospace & Defense, Sporting Goods, Automotive, Wind Energy, Electrical & Electronics, and Others), by Usage (Polymer Composites and Non-Polymer Composites), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

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The High-Performance Glass Fiber Market: Highlights
The global high-performance glass fiber market offers a healthy growth opportunity over the next five years and will reach an estimated value of US$ 390.6 million in 2023. High specific strength and modulus than E-glass fiber and lower cost than other advanced fibers, such as carbon fiber make it a preferred material for high-performance applications. Increasing automotive production and aircraft deliveries, and increasing high-performance fiber penetration in performance-driven applications, such as helicopter blade and ballistic armor, are the key growth drivers of the high-performance glass fiber market.

High-performance fibers were developed for military applications during 1960’s and are known by various names, such as S-glass in the USA, R-glass in Europe, and T-glass in Japan. It has a tensile strength of approximately 700 KSI and tensile modulus of up to 14 MSI. High-performance glass fiber is 40% to 70% stronger than E-glass fiber due to higher silica oxide, aluminum oxide, and magnesium oxide content than E-glass fiber. The usage of high-performance glass fibers is in very niche applications in aerospace & defense, automotive, sporting goods, wind energy, and other industries.

The high-performance glass fiber market is segmented based on the end-use industry type as Aerospace & Defense, Sporting Goods, Automotive, Wind Energy, Electrical & Electronics, and Others. Aerospace & Defense is projected to remain the largest segment during the forecast period, propelled by increasing production rates of key composites rich aircraft, such as B787 and A350XWB; upcoming commercial and regional aircraft; and increasing production of military vehicles. The automotive segment is likely to exhibit the highest growth over the next five years. The prime growth driver of the market is the increasing penetration of advanced composites in the structural section of vehicles with the purpose to make the vehicle lightweight to achieve the stringent government regulations, such as CAFÉ standards.

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Based on the regions, North America is projected to remain the largest market for high-performance glass fiber over the next five years. The region is the manufacturing hub of the aerospace & defense industry with the presence of several small- to large-sized OEMs, tier players, and high-performance glass fiber manufacturers. High-performance glass fiber market in Asia-Pacific is relatively smaller but is likely to witness the highest growth during the forecast period. Upcoming commercial & regional aircraft, increasing defense spending, the highest automotive production, the highest wind turbine installations, and the highest PCB production are the major growth drivers of the Asia-Pacific’s market.

The global high-performance glass fiber market is highly consolidated with the presence of less than a dozen players. The key high-performance glass fiber manufacturers are AGY Holdings, Owens Corning Corporation, CPIC Fiberglass, Nittobo, and 3B Fibreglass. New product development, collaboration with customers, and long-term contracts are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features
The report provides diverse market intelligence with maximum business value. It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.

Stratview Research is a global market intelligence firm offering a wivde range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

We have a strong experienced team of industry veterans and research analysts with a perfect blend of wisdom, knowledge and attitude. We have been serving multiple clients across a wide array of industries.

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This release was published on openPR.