The global fiberglass fabric industry was valued at USD 8.37 billion in 2020 and is predicted to reach USD 13.74 billion by 2025, with a CAGR of 7.48% between 2020 and 2025. The best-known fiberglass is created in the weaving process. Here at least two wire systems are intertwined perpendicularly.
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 latest product advancements undertaken by the significant players in this industry are the main factors contributing to expansion of the worldwide industry for fiberglass fabrics. Escalating 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 to driving industry expansion.
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 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 call.
Manufacture of fiberglass fabrics is capital intensive and therefore a major drag on the expansion of the global fiberglass fabric industry.
The worldwide call for 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 the 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.
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.
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.
By fabric type:
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.
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.
Some of the significant players operating in the fiberglass fabric market industry include
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2.2 Wind Energy
5.2.4 Electrical & Electronics
5.2.7 Aerospace & Defense
5.2.8 Y-o-Y Growth Analysis, By Application
5.2.9 Market Attractiveness Analysis, By Application
5.2.10 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Owens Corning (US)
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Saertex Gmbh & Co. KG. (Germany)
8.3 Porcher Industries (France)
8.4 Chomarat Textile Industries (France)
8.5 Jushi Group Co., Ltd. (China)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures