Glass & Specialty Synthetic Fiber Market worth $91.4 billion by 2024 | Key players operating in the market include Owens Corning, Toray Industries, Teijin Ltd, Mitsubishi Corp, Hexcel Corp

According to recent market research "Glass & Specialty Synthetic Fiber Market by Fiber Type (Glass, Carbon, Aramid, UHMWPE, PPS), Application (Composite, Non-Composite), End-Use Industry, and Region (North America, Europe, APAC,MEA, Latin America) - Global Forecast to 2024", The global glass & specialty synthetic fiber market size is expected to grow from USD 65.9 billion in 2019 to USD 91.4 billion by 2024, at a CAGR of 6.8% during the forecast period. The glass & specialty synthetic fiber market is growing due to the increase in the demand for high-performance materials with properties such as high operating temperature, high strength to weight ratio, good tensile strength, electrical conductivity among others.

Browse 133 market data Tables and 45 Figures spread through 187 Pages and in-depth TOC on "Glass & Specialty Synthetic Fiber Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/specialty-synthetic-glass-fiber-market-39906130.html

The glass fiber composites have superior attributes, such as strength, flexibility, durability, stability, lightweight, and resistance to heat, temperature, and moisture. Owing to its properties, glass fiber is used in different end-use industry segments, such as construction, wind, pipe & tanks, marine, and transportation. Also, owing to its low cost and easy manufacturing process, glass fiber composites are produced in bulk, and they accounted for the largest share in the global glass & specialty synthetic fiber market.

The large market for composites application is supported by the advancement of composite technology solutions and high performance when combined with various resins. Glass & specialty synthetic fibers in the form of composites have high demand from various end-use industries such as aerospace & defense, pipe & tank, construction & infrastructure, transportation, and wind energy.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=39906130

Glass & specialty synthetic fibers are used for composite and non-composite applications in a variety of end-use industries, including aerospace & defense, transportation, wind energy, marine, pipe & tank, construction & infrastructure, protective clothing, and electrical & electronics. The glass fiber & specialty synthetic fiber market is growing at a rapid pace. The global market size of glass & specialty synthetic fibers was USD 65.9 billion in 2019 and is projected to reach USD 91.4 billion by 2024, growing at a CAGR of 6.8% between 2019 and 2024.

Over the past years, companies have strengthened their position in the global composites market by adopting strategies such as expansions, partnership, agreement, new product/technology launch, joint venture, contract, and merger & acquisition. From 2014 to 2019, expansion and merger & acquisition were the key strategies adopted by the market players to maintain growth in the global composites market. For instance, Honeywell International, Inc. increased the production capacity of its Spectra fiber PE in November 2019 to meet the demands of the defense industry for high-performing and lightweight armors. This helped the company to solidify its position as a leading provider of solutions for the defense industry.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39906130

The major manufacturers profiled in this report include Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), DSM (Netherland), Honeywell International, Inc. (US), Jushi Group Co., Ltd. (China), among others. These companies have adopted various organic and inorganic growth strategies. For instance, in July 2019, Owens Corning (US) announced the signing of a definitive agreement where it will acquire Saint-Gobain’s Reinforcement and Composites business for USD 640 million. This would build Owen’s Corning’s position as a market leader in the glass fiber market.

Owens Corning (US), Jushi (China), CPIC (China), Toray Industries, Inc. (Japan), Teijin Limited (Japan), and Mitsubishi Chemical Holdings Corporation (Japan) are the major players in the composites market. These companies are the most significant contributor to the growth of the glass & specialty synthetic fiber industry. These companies are specialized in manufacturing glass & specialty synthetic fibers having sustainable properties. For instance, Owens Corning (US) specializes in manufacturing composite materials namely glass fibers, for the composites industry globally. Similarly, Toray Industries, Inc. (Japan) specializes in manufacturing carbon fibers globally. These companies have vast global presence. These companies are among the key players present in the global composites market.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/specialty-synthetic-glass-fiber.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/specialty-synthetic-glass-fiber-market.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.