Global Glass Fiber Market Will Surge to USD 10,600 Million by 2026

Facts and Factors report "Glass Fiber Market By Type (Single-End Roving, Multi-End Roving, Fabrics, Woven Roving, CFM, CSM, CS, DUCS, and Others), Manufacturing Process (Spray Up, Hand Lay-Up, Injection Molding, PrepregLay-Up, Pultrusion, Resin Infusion, Compression Molding, and Others) and By Application (Transportation, Construction, Pipe & Tank, Aerospace, Electrical & Electronics, Wind Energy, Consumer Goods, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global glass fiber market in 2019 was approximately USD 8,100 Million. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 10,600 Million by 2026.

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Glass fiber is a material made from extremely thin fibers of glass, which is also known as fiberglass. It is a lightweight material and is used to produce printed circuit boards, structural composites, and a wide range of special-purpose products. Glass fiber is generally used in plastic materials reinforcement to increase tensile strength, dimensional stability, flex modulus, creep resistance, impact resistance, chemical resistance, and heat resistance.

The growing construction and automotive industry across the globe is the major factor driving the global glass fiber market. The construction activities in developing countries such as China, India, Brazil, and South Africa are further projected to escalate the consumption of glass fibers. Glass fibers are widely used in polymeric resins for bathtubs and shower stalls, paneling, doors, and windows. Moreover, the automotive sector is one of the largest consumers of glass fibers. In the automotive industry, glass fiber is used with polymer matrix composites to produce bumper beams, external body panels, pultruded body panels, and air ducts, and engine components among others. Therefore, these factors are expected to boost the market growth in the upcoming years. However, the presence of substitutes such as carbon fibers is likely to hamper the market growth in the forecast period. Conversely, the rising application of glass fibers in the production of light-weight cars and aircraft is further anticipated to offer growth opportunities to the global glass fiber market.

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The application of multi-end roving glass fibers is increasing rapidly in the automotive industry which is further projected to increase the consumption of this type of glass fiber. Multi-end roving glass fibers are used to manufacture lightweight vehicles. Additionally, it is also used to produce architectural facades in the construction industry. Moreover, the injection molding process is a widely used process due to its design flexibility, low labor cost, and high-output production rate. The global glass fibers market is majorly driven by the construction and transportation industries. In 2019, the construction and transportation industry accounted for more than 60% of the market share.

Geographically, the Asia Pacific region is the major producer and consumer of the glass fibers. The emerging construction activities in developing countries in the region are further projected to increase the consumption of glass fibers. Additionally, the rising need for wind energy generation is also estimated to propel the demand for glass fibers in the region. Moreover, North America is anticipated to grow significantly during the forecast period. The increasing adoption of glass fibers in the aerospace sector is further projected to accelerate market growth in the region.

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Some of the major players operating in the global glass fiber market are Owens Corning, BGF Industries, Nitto Boseki Co. Ltd., Saint-Gobain Vetrotex, Asahi Glass Company Limited, Johns Manville, Knauf, Jushi Group Co. Ltd., Advanced Glassfiber Yarns LLC, PPG Industries, Chomarat Group, and Nippon Sheet Glass among others.

This report segments the glass fiber market as follows:

Global Glass Fiber Market: By Product Type Segmentation Analysis

Single-End Roving
Multi-End Roving
Fabrics
Woven Roving
CFM
CSM
CS
DUCS
Others

Global Glass Fiber Market: By Manufacturing ProcessSegmentation Analysis

Spray Up
Hand Lay-Up
Injection Molding
Prepreg Lay-Up
Pultrusion
Resin Infusion
Compression Molding
Others

Global Glass Fiber Market: By Application Segmentation Analysis

Transportation
Construction
Pipe & Tank
Aerospace
Electrical & Electronics
Wind Energy
Consumer Goods
Others

Global Glass Fiber Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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