8 February 2019: Glass
Fiber Market is anticipated to grow at a CAGR of 5.8% in the
upcoming period as the scope, product types, and its applications are
increasing across the globe. Glass fiber, as the name suggests, involves fine
fibers of glass. The factors that propel the growth of the Glass Fiber Market
include increased usage of in automobiles to decrease weight and CO2 emissions,
increased construction activities at the global level, and demand for corrosion
resistance applications such as pipes and tanks from oil & gas and water
supply sector.
On the other hand, there are factors that may hamper the
growth of the market including hunting by manufacturers of automobiles for
inexpensive and harmless substitutions, and adverse health effects of
fiberglass. The market may be explored by type, manufacturing process,
application, and geography. The market could be explored based on product type
as Single-End Roving, Multi-End Roving, CSM, Woven Roving, CS, DUCS, CFM,
Fabrics, and Others. Glass Fiber Market may be explored by manufacturing
process as Hand Lay-Up, Spray Up, Pultrusion, Injection Molding, Prepreg Lay
Up, Compression Molding, Resin Infusion, and Others.
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Market may be analyzed by application as Consumer products,
Construction, Wind turbines, and Transportation. The “Construction” segment led
the Glass Fiber Market in 2016 and is anticipated to maintain its dominance by
2020 owing to rising use of glass fibers as mixtures in building materials and
increasing replacement of steel with glass fibers to reduce the maintenance
costs and avert erosion.
Asia-Pacific accounted for the major share of the Glass
Fiber Market Size in 2017 and will continue to lead in the forecast period. The
factors that could be attributed to the growth include foremost upcoming
construction schemes in the region. Thus, the rising construction industry,
particularly in commercial building segment, is driving the demand for glass
fiber in this region.
Some of the key players that fuel the growth of the Glass
Fiber Market comprise Owens Corning, PPG Industries, Nippon Sheet Glass, Knauf
and Advanced Glass fiber Yarns, and China Fiberglass Company, among others. The
leading companies are taking up partnerships, mergers and acquisitions, and
joint ventures in order to boost the inorganic growth of the industry.
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