Press release
Wind Energy Sector Surge Propels Fiberglass Roving Market Growth: Pivotal Factor Influencing Fiberglass Roving Market Growth in 2025
Fiberglass Roving
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Fiberglass Roving Market Size Growth Forecast: What to Expect by 2025?_x000D_
The fiberglass roving market has recorded strong growth in recent years. It will grow from $9.53 billion in 2024 to $10.27 billion in 2025, at a CAGR of 7.8%. This was fueled historically by infrastructure and construction activities, rising automotive demand, applications in wind energy, marine and boat manufacturing, and aerospace sector expansion._x000D_
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How Will the Fiberglass Roving Market Size Evolve and Grow by 2029?_x000D_
With regards to the Fiberglass Roving market, there's predicted to be substantial growth in the upcoming years. The market valuation is expected to rise from its current size to $14.2 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 8.4%. This projected surge can be linked to a few key factors: the burgeoning renewable energy sector, the emphasis on lighter materials in transportation, the rejuvenation of infrastructure, advancements in the creation of composites, and amplified demand for high-performance substances. In addition, primary trends predicted over the forecast period are applications within the marine industry, infrastructure renewal projects, partnerships amongst key industry players, market expansion in the Asia-Pacific region, and customization tailored to specific end-use requirements._x000D_
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What Drivers Are Propelling the Growth of Fiberglass Roving Market Forward?_x000D_
The fiberglass roving market is anticipated to be driven by the increasing demand from the wind energy sector. This industry deals with the creation, maintenance, and construction of wind turbines and other energy creation mechanisms. Fiberglass roving is used in this sector to create larger wind turbine blades, which improves the energy produced by these turbines. It is the chosen material for the manufacture of turbine blades and nacelles in the wind energy industry. The International Energy Agency, a France-based intergovernmental organization, suggested in July 2023 that wind electricity generation witnessed a significant increase of 265 TWh in 2022, a 14% rise, and pushed past 2,100 TWh in total output. This was the second highest growth recorded by any renewable energy technologies. Consequently, the escalating demand from the wind energy sector propels the growth of the fiberglass roving market._x000D_
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Which Emerging Trends Are Transforming the Fiberglass Roving Market in 2025?_x000D_
Emerging trends in the fiberglass roving market largely revolve around product innovation. To solidify their standing within this competitive landscape, dominant businesses are focusing on launching innovative offerings. A prime example of this was in March 2023 when US-based company Johns Manville, which specializes in insulation, roofing materials, and engineered products, introduced the StarRovLFTplus Fiberglass Roving. This product, a fiberglass direct roving tailored specifically for long fiber-reinforced thermoplastic (LFRT) applications, promises a robust and dependable solution for structural applications in the auto industry. Furthermore, Johns Manville reinforced its market presence in China through a strategic alliance with Zhongbao Ruiheng Technology Co. Ltd., a local composite materials manufacturer. This partnership is expected to augment Johns Manville's customer base and enhance its composite materials know-how. The primary target audience for this innovative product is the automotive industry, with a particular emphasis on structural components like bumper beams and front-end carriers._x000D_
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What Are the Key Segments in the Fiberglass Roving Market?_x000D_
The fiberglass roving market covered in this report is segmented - _x000D_
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1) By Product Type: Single-End Roving, Multi-End Roving, Chopped Roving_x000D_
2) By Fiberglass Type: E-glass, ECR-glass, H-glass, AR-glass, S-glass_x000D_
3) By Application: Electrical And Electronics, Transportation, Construction And Infrastructure, Pipes And Tanks, Energy, Other Applications_x000D_
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Subsegments:_x000D_
1) By Single-End Roving: Standard Single-End Roving, High-Performance Single-End Roving _x000D_
2) By Multi-End Roving: Standard Multi-End Roving, High-Strength Multi-End Roving _x000D_
3) By Chopped Roving: Chopped Roving For Hand Lay-Up, Chopped Roving For Spray-Up, Chopped Roving For Pultrusion _x000D_
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Who Are the Key Players Shaping the Fiberglass Roving Market's Competitive Landscape?_x000D_
Major companies operating in the fiberglass roving market include Saertex GmbH, Saint-Gobain S.A., PPG Industries Inc., Owens Corning, China Jushi Co. Ltd., Nippon Electric Glass Co. Ltd., Taiwan Glass Industry Corporation, Johns Manville, Knauf Insulation, Nitto Boseki Co. Ltd., Chongqing Polycomp International Corporation, Jiangsu Jiuding New Material Co. Ltd., Chomarat Group, AGY Holdings Corp., 3B - the fiber glass company, Fiberlay Inc., Nittobo America Inc., Saint-Gobain Vetrotex, Taishan Fiberglass Inc., China Beihai Fiberglass Co. Ltd., PFG Fiberglass Corporation,P-D Glasseiden GmbH, Glass Fiber Technology Co. Ltd. _x000D_
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What Geographic Markets Are Powering Growth in the Fiberglass Roving Market?_x000D_
Asia-Pacific was the largest region in the fiberglass roving market in 2024. The regions covered in the fiberglass roving market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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