The current valuation of the fiberglass fabric market stands at US$ 10.27 billion, with a projected expansion at a high compound annual growth rate (CAGR) of 7.2%. By the year 2032, it is anticipated to reach a market value of US$ 20.69 billion.
The global fiberglass fabric market has been experiencing steady growth in recent years, and it is expected to continue on an upward trajectory. Fiberglass fabric, woven from fine glass fibers, has gained significant popularity across various industries due to its exceptional strength, durability, and resistance to heat and chemicals. This versatile material is used for a wide range of applications, making it a vital component in the modern industrial landscape.
Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=878
Market Opportunity:
The fiberglass fabric market is ripe with opportunities, thanks to the increasing demand for high-performance materials in sectors such as construction, automotive, aerospace, and marine. One of the major opportunities in this market is its role in the construction industry, where fiberglass fabric is used in applications like insulation, reinforcement, and corrosion-resistant coatings. The global construction industry’s growth, driven by urbanization and infrastructure development, has created a substantial demand for fiberglass fabric.
Moreover, the automotive sector is another avenue for growth. The quest for lightweight materials to enhance fuel efficiency has led to increased usage of fiberglass fabric in manufacturing parts, especially in electric and hybrid vehicles. Its high strength-to-weight ratio, corrosion resistance, and flexibility make it an attractive choice for automotive applications.
Aerospace and marine industries offer additional opportunities for fiberglass fabric, as it can withstand extreme conditions and offer excellent structural support. With the expansion of these sectors, the demand for fiberglass fabric is expected to rise further.
Market Challenges:
While the fiberglass fabric market is poised for growth, it also faces its set of challenges. One such challenge is the environmental impact. The production of fiberglass fabric involves the use of energy and the emission of greenhouse gases. As environmental concerns continue to grow, the industry faces pressure to develop more sustainable and eco-friendly production processes.
Cost is another challenge, as the raw materials used in fiberglass fabric production can be expensive. Additionally, market competition can result in pricing pressures, making it essential for manufacturers to maintain cost-effective production methods while maintaining product quality.
Furthermore, the fiberglass fabric market faces competition from alternative materials, such as carbon fiber, which offers similar high-performance characteristics. Manufacturers need to continually innovate and find new applications to stay competitive in this evolving landscape.
Key Players:
- Chomarat Textile Industries
- Gurit
- Saint-Gobain Performance Plastics
- Asahi Kasei Corporation
- Porcher Industries
- Saertex GmbH & Co. Kg.
- Hexcel Corporation
- Taiwan Electric Insulator Co. Ltd
- Nitto Boseki Co., Ltd.
Competitive Landscape:
There is a notable abundance of producers and service providers in the market, resulting in a highly fragmented market. A crucial factor in promoting competition among market participants is the advancement of innovative products and the establishment of a robust distribution network for these products.
The increasing demand for premium fabrics with exceptional strength and lightweight properties compels manufacturers to continuously innovate and maintain high product quality standards.
To ensure the availability of raw materials and maintain consistency in their product offerings, major manufacturers and distributors have established long-term supply agreements.
In order to strengthen its position as a market leader in the non-woven, wind energy, high-modulus glass, and specialty fabrics sectors, Owens Corning acquired Ahlstrom’s glass non-woven and fabrics operations in January 2016. Additionally, in June 2018, Owens Corning entered into a strategic cooperation and supply contract with Chongqing Polycomp International Corp. (CPIC) for collaborative technological investment. This partnership also involves the development and operation of a new facility in China by CPIC, specifically for the production of high-modulus glass fiber products.
Key Segments Covered in Fiberglass Fabric Industry Research
- Fiberglass Fabric Market by Type :
- Woven Fiberglass Fabric
- Non-woven Fiberglass Fabric
- Fiberglass Fabric Market by Category :
- E-class Fiberglass Fabric
- S-class Fiberglass Fabric
- Others Fiberglass Fabric
- Fiberglass Fabric Market by Application :
- Electronics
- Electric
- Defense
- Wind Energy
- Others
- Fiberglass Fabric Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=878
About Fact.MR :
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400 Rockville, MD 20852
United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com