According to the new market research report “Glass fiber market by glass type (E glass, ECR glass, H glass, AR glass, S glass), resin type, product types (glass wool, direct and assembled rovings, yarns, chopped strands), applications (composites, insulation materials ), the glass fiber market is expected to grow from 171 Billion USD growth will reach 23.9 billion USD from 2019 to 2024, with a compound annual growth rate of 7.0% from 2019 to 2024. The growth of the construction industry and the growing use of glass fiber composites in the automotive industry are driving market growth .
It is expected that from 2019 to 2023, the value and quantity of the glass wool glass fiber market will lead the glass fiber market.
According to the type of product, the glass wool glass fiber segment will account for the largest share of the glass fiber market in 2018. During the forecast period, the glass wool segment is expected to lead the market in terms of value and quantity. The growth in this area can be attributed to the high thermal insulation properties and the increased use of glass wool in the construction and infrastructure end-use industries.
It is expected that during the forecast period, the value and quantity of composite material applications will lead the glass fiber market.
Based on the application, the composite material application field will lead the glass fiber market in 2018 in terms of value and quantity. The growth in this area can be attributed to the needs of wind turbine blade manufacturers.
It is expected that during the forecast period, the glass fiber market in the Asia-Pacific region will grow at the highest compound annual growth rate in both value and quantity.
From 2019 to 2024, the value and volume of the glass fiber market in the Asia-Pacific region will grow at the highest compound annual growth rate. China, India and Japan are the main countries driving the growth of demand for glass fiber in the region. Factors such as the increase in construction and industrial activities in the Asia-Pacific region have increased the demand for glass fibers in the region. The growth of the automotive industry is driving the glass fiber market in the region.
Automotive composites market by fiber type (glass, carbon, natural), resin type (thermoset, thermoplastic), manufacturing process (compression, injection, RTM), application (external, internal), vehicle type and region-to 2022 Global forecast
End-use industries (transportation, electrical and electronics), resin types (epoxy, polyester, vinyl ester), manufacturing processes (compression and injection molding, RTM/VARTM, dressings) and regional GFRP composite market-by 2022 Global forecast
Post time: May-11-2021