LONDON--(BUSINESS WIRE)--The global glass fiber market size is poised to grow by USD 5.4 billion during 2020-2024, progressing at a CAGR of almost 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The presence of local and multinational vendors is fragmenting the glass fiber market. The local vendor has an advantage over the multinational ones in terms of raw materials, price, and supply of differentiated products. But, even with these distractions, the factor such as s the rising need for glass fibers in construction activities will help drive this market. Glass fiber reinforced concrete (GFRC) is also increasingly being used for construction purposes as it contains sand, hydrated cement, and glass fibers, which offer advantages such as high tensile, flexural, compressive strength, and lightweight, and anti-corrosive properties. With the increasing number of buildings during the forecast period, this market is expected to grow during this period.
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Report Highlights:
- The major glass fiber market growth came from the transportation segment. The glass fibers are highly preferred as it is lightweight, fire-resistant, anti-corrosive, and exhibits excellent strength.
- APAC was the largest glass fiber market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increasing demand for glass fibers in construction, transportation, electronics, and electrical industries in this region over the forecast period
- The global glass fiber market is fragmented. AGY Holding Corp., Berkshire Hathaway Inc., China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Compagnie de Saint-Gobain SA, LANXESS AG, Nippon Electric Glass Co. Ltd., Owens Corning, PPG Industries Inc., and Taishan Fiberglass Inc. are some of the major market participants. To help clients improve their market position, this glass fiber market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global glass fiber market 2020-2024 is expected to have negative impact. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Increasing Preference for Lightweight Materials will be a Key Market Trend
The demand for lightweight materials that can provide high strength and durability is increasing across the construction, automotive, and wind energy industries. Such lightweight products can also be easily substituted in place of steel and aluminum in automobiles. This trend is expected to increase during the forecast period and will help the growth of the glass fiber market.
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Glass Fiber Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist glass fiber market growth during the next five years
- Estimation of the glass fiber market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the glass fiber market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of glass fiber market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Construction - Market size and forecast 2019-2024
- Transportation - Market size and forecast 2019-2024
- Consumer products - Market size and forecast 2019-2024
- Wind turbines - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AGY Holding Corp.
- Berkshire Hathaway Inc.
- China Beihai Fiberglass Co. Ltd.
- China Jushi Co. Ltd.
- Compagnie de Saint-Gobain SA
- LANXESS AG
- Nippon Electric Glass Co. Ltd.
- Owens Corning
- PPG Industries Inc.
- Taishan Fiberglass Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
