Fiberglass Fabric Market

Fiberglass Fabric Market Size-(2023-2028) 

The fiberglass fabric market was valued at USD 10.37 billion in 2022 and is predicted to reach USD 13.74 billion by 2028, with a CAGR of 9.48% between 2023-2028

The weft yarns are pulled transversely through durable warp yarns and stretched lengthwise. The edges are generally woven more packed, creating selvages that generally have information about the fabric printed on them. Because the warp threads are stretched so that they can be knit evenly, most fabrics are strong, inflexible, and stable (predictable), which undoubtedly leads to learning how to sew. Using a different type of fabric changes the way the fabric is handled. Fiberglass fabric is a type of plastic fiber that is reinforced with the help of fiberglass. Fiberglass is a material made up of small, thin strands of glass. It is a green color, energy-saving, and sustainable composite. Its application includes house construction, pipes, traffic lights, water slides, and many more. The worldwide industry for fiberglass fabrics is experiencing significant expansion due to the presence of several factors, including rising population and rapid urbanization, which increase the development of industrialization in emerging economies.

The rising call for fiberglass fabrics in uses needing high-performance features and several business techniques like expansions and funds, acquisitions, and the latest product advancements undertaken by the significant players in this industry are the main factors contributing to the expansion of the worldwide industry for fiberglass fabrics. Escalating the call for the product in the building of lightweight, long, and efficient rotor blades with high corrosion resistance for wind power generation is probable to be a major reason for driving industry expansion.

Fiberglass Fabric Market Drivers

The worldwide industry call for fiberglass fabrics has escalated due to the need to ensure flawless progress in various end-use industries. Fiberglass imparts unique chemical and physical properties, which led to the popularity of the material. In addition, the wide range of industries using fiberglass fabrics for various applications has also contributed to the expansion of this industry. The use of fiberglass fabric for the manufacture of light industrial materials has created expansion areas in this industry. Moreover, the requirement for better management of industrial procedures has also driven a call in the worldwide industry for fiberglass fabrics. The light weight of fiberglass fabric has played a significant role in the expansion of the global fiberglass fabric industry. Interestingly, the industry for fiberglass fabrics has been around for decades and continues to attract commendable calls.

Fiberglass Fabric Market Restraints

The manufacture of fiberglass fabrics is capital intensive and therefore a major drag on the expansion of the global fiberglass fabric industry.

Fiberglass Fabric Market Opportunities

The worldwide call for the fiberglass fabrics industry has escalated due to advancements in several key end-use industries. The construction industry has recently become the fastest rising consumer of fiberglass fabric, which in turn has contributed to the expansion of the industry. Several new construction projects have started in economically rich regions during the last decade. Also, the electrical and electronics industry has also witnessed an influx of large revenues in recent years. Since fiberglass fabric is a key component in electronic device manufacturing, the call for fiberglass fabric is predicted to reach new heights. New product development, infrastructure improvement, and manufacturing sector development have created a future opportunity for the emergence of the fiberglass fabric industry.

Fiberglass Fabric Market Challenges

The high call for composite materials from various applications is predicted to limit the call for fiberglass, as most manufacturers use composite materials to develop lightweight products. Factors such as people's lack of awareness about the advantages or uses of fiberglass fabric and the high cost of production are among the limitations in the expansion of the industry.

FIBERGLASS FABRIC MARKET REPORT COVERAGE:

Fiberglass Fabric Market Segmentation

Fiberglass Fabric Market - By Type:

• E-glass

• Others

Electronic glass cloth is the fastest rising segment as it is the most widely employed of various end applications due to its superior properties and cost-effectiveness.

Fiberglass Fabric Market - By Fabric Type:

• Woven

• Non-Woven

Fiberglass Fabric Market - By Application:

• Wind Energy

• Transportation

• Electrical & Electronics

• Marine

• Construction

• Aerospace & Defense

• Others

Wind energy is predicted to be the fastest-rising application in the global fiberglass fabric industry between 2020 and 2025. This is credited to the high call for fiberglass fabric in the making of several structural parts. wind turbines. The fiberglass fabric employed in the structural parts of wind turbines offers high strength and lightness properties, as well as high resistance to corrosion.

Fiberglass Fabric Market Regional Analysis:

The Fiberglass Fabric Market Report includes the segmentation of Regions with their respective Countries.

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East & Africa 

Asia-Pacific was the largest industry for fiberglass fabric in terms of value in 2020. This expansion is attributed to strong call for fiberglass fabric in wind power and electrical and electronic applications. The industry for wind energy and electricity and electronics is rising at a high rate in the Asia-Pacific region. The main countries, namely China, Japan and India, focus on the production of energy from renewable sources and hence the call for fiberglass fabrics for the manufacture of various structural parts of the wind turbine. increase in the Asia-Pacific region during the foreseen period. In addition, Asia-Pacific is a center for the electrical and electronics industry, with China being the leader in this region. Another expansion driver for the fiberglass fabric industry in the Asia Pacific region is the call for fiberglass fabric for PCB manufacturing.

Europe accounted for just over 25% of worldwide revenue in the same year due to the availability of raw materials, manufacturing facilities and the presence of major players in the applications sector. The region's developed economies, including Germany, the United Kingdom, and France, accounted for a significant portion of revenues due to high product penetration in the construction and aerospace industries.

Fiberglass Fabric Market Key Players:

Some of the significant players operating in the fiberglass fabric market industry include

1. Owens Corning (US)

2. Gurit (Switzerland)

3. Jushi Group Co., Ltd. (China)

4. Chomarat Textile Industries (France)

5. Saertex GmbH & Co.KG. (Germany)

6. Tah Tong Textile Co., Ltd (China)

7. Auburn Manufacturing, Inc. (US)

8. BGF Industries, Inc. (US)

9. Nitto Boseki Co., Ltd. (Japan)

10. Taiwan Electric Insulator Co., Ltd. (China)