The Market of High-Performance Glass Fiber is to grow at CAGR 00% by 2023

The new report of Stratview Research analyses the High Performance Fiber market over the trend period from 2012 to 2017 and forecast period from 2018 to 2023. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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The High-Performance Glass Fiber Market: Highlights
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 Growth Prognosis & its Drivers
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.

Market Segments
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.
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.

Market Players
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.

Comprehensive Market Coverage
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This release was published on openPR.