COVID-19 Impact:
Delayed Shipments to Diminish Market amid Coronavirus
The COVID-19 pandemic had a severe impact on the automotive and construction industry. The temporary shutdown of manufacturing facilities and delayed shipments of materials have disrupted the supply chain and caused enormous loss. The restriction of import and export of construction materials and automotive components has negatively affected the fiberglass market.
E-glass to Hold the Largest Share in the Global Market
Based on product, the market is divided into E-glass and specialty. E-glass is expected to account for a major share during the forecast period. E-glass offers exceptional performance qualities. The increasing use of environmentally friendly boron-free E-glass fiber is expected to bolster the segment’s healthy growth. Based on the product, the market is classified into glass wool, yarn, roving, chopped strands, and others. Glass wool is expected to hold a significant share.
Based on the application, the market is divided into transportation, building & construction, electrical & electronics, pipe & tank, consumer goods, wind energy, and others. Transportation is expected to account for a high share due to government regulations, such as U.S. CAFE standards and carbon emission targets in Europe. The building & construction segment, on the other hand, generated 20.2% in 2020 in terms of share globally.
Post time: May-08-2021