Dallas, TX / CRWE PRESS RELEASE / May 10, 2022 - According to the recent study the glass fiber market is projected to reach an estimated $17.5 billion by 2027 from $12.6 billion in 2021, at a CAGR of 5.7% from 2021 to 2027. Growth in this market is primarily driven by rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.

Browse 148 figures / charts and 96 tables in this 235 -page report to understand trends, opportunities and forecast in glass fiber market by end use (marine, transportation, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, compression molding, prepreg layups, injection molding, and others), product type (single end roving, multi end roving, woven roving, fabrics, chopped strand, chopped strand mat, continuous filament mat, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Chopped strand map market is expected to remain the largest segment during the forecast period.”    

Based on product type, the glass fiber market is segmented into single end roving, multi end roving, woven roving, fabrics, chopped strand, chopped strand mat, continuous filament mat, and others. Lucintel forecasts that the chopped strand mat is expected to witness the largest segment over the forecast period.

“Within the glass fiber market, the transportation segment is expected to remain the largest end use industry”    

Based on end use industry, the transportation segment is expected to witness the largest segment due to government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight.

“Asia Pacific will dominate the glass fiber market in near future”

Asia Pacific is expected to be the largest region with the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.

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Major players of glass fiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Owens Corning, Jushi, Nippon Electric, CPIC, and Taishan Fiberglass are among the major glass fiber providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/glass-fiber-market.aspx or helpdesk@lucintel.com