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Glass Fiber - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4536170
  • Report
  • 120 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • AGY
  • ASAHI FIBER GLASS Co. Ltd
  • Braj Binani Group
  • GUARDIAN INDUSTRIES
  • Johns Manville
  • Jushi Group Co. Ltd
  • MORE
Market Overview

The market for glass fiber is expected to grow at a CAGR of over 4% during the forecast period of 2019-2024. One of the major factors driving the market is the increasing demand from the construction Industry. However, competition from carbon fiber and rockwool is likely to restrain the market.
  • Increasing demand for fiberglass composites from the automotive Industry is also likely to boost the market growth during the forecast period.
  • Growth in the usage of lightweight glass fiber reinforced plastic (GFRP) compositesis likely to act as an opportunity for the market growth in future.
  • Asia-Pacific dominated the glass fiber market across the globe in 2018 and is likely to dominate the market during the forecast period.
Key Market Trends

Automotive Industry to Witness the Highest Growth Rate
  • Glass fiber is extensively used in the automotive industry in order to meet the demand for lightweight materials for vehicles. Fiber yarns are used in applications, such as drive belts, clutch discs, and brake pads due to their high tensile strength and temperature resistance.
  • The high strength-to-weight ratio and endless customization ability has made glass fiber a widely popular material for use in the automotive industry.
  • It is widely used in the automotive industry, due to the ability to be molded in any shape and size (especially glass fiber modified polymer), offering both creative and structural benefit in manufacturing automotive parts.
  • Currently, automakers have been majorly focusing on reducing the weight of vehicles in order to improve the efficiency, thus, increasing the use of these materials.
  • Due to the increasing environmental concerns, various governments, worldwide, have been taking initiatives to promote the usage of electric and hybrid vehicles to curb harmful emissions.
  • Such initiatives of governments and automakers are expected to increase the automotive production in the next five years considerably.
  • Hence, owing to the above-mentioned reasons, the automotive industry is likely to witness the highest growth rate during the forecast period.
Asia-Pacific to Dominate the Market
  • Asia-Pacific is expected to dominate the market for glass fiber during the forecast period.
  • The electronics industry is expected to witness a major growth in the region, as China is one of the biggest global manufacturers, which is followed by South Korea and Japan.
  • In addition with this, construction sector is also on its growth path in these countries owing to major upcoming construction projects in the region.
  • Thus, the growing construction industry, especially the commercial building sector, is increasing the demand for glass fiber and is expected to drive the market during the forecast period.
  • In India, the automotive industry is expanding rapidly in the country with higher demand and increase in income level of consumers. Also, the demand for light vehicles has increased with awareness about fuel efficiency and environmental benefits. With the rapid increase in manufacturing capacities in the country, the consumption of glass fiber is also expected to increase during the forecast period.
  • Hence, owing to the aforementioned reasons, Asia-Pacific is likely to dominate the market during the forecast period.
Competitive Landscape

The market for glass fiber is consolidated among the top players, with the top five players accounting for a major chunk of the market. The major companies of the market includes Jushi Group Corporation, Owens Corning, Saint-Gobain Vetrotex, Nippon Electric Glass Co.,Ltd.
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • AGY
  • ASAHI FIBER GLASS Co. Ltd
  • Braj Binani Group
  • GUARDIAN INDUSTRIES
  • Johns Manville
  • Jushi Group Co. Ltd
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 High Demand from the Construction Industry
4.1.2 Increasing Demand for Fiberglass Composites from the Automotive Industry
4.2 Restraints
4.2.1 Low Profit Margin on Sales
4.2.2 Competition from Carbon Fiber and Rockwool
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Policies and Regulations
4.6 Technological Snapshot

5 MARKET SEGMENTATION
5.1 Resin Type
5.1.1 Glass wool
5.1.2 Roving
5.1.3 Yarns
5.2 Application
5.2.1 Composites
5.2.2 Insulation
5.3 End-user Industry
5.3.1 Buildings & Construction
5.3.2 Automotive
5.3.3 Aerospace & Defense
5.3.4 Alternative Energy
5.3.5 Consumer Goods
5.3.6 Industrial
5.3.7 Others
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 ASEAN Countries
5.4.1.6 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 France
5.4.3.3 United Kingdom
5.4.3.4 Italy
5.4.3.5 Rest of the Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East & Africa (MEA)

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AGY
6.4.2 ASAHI FIBER GLASS Co. Ltd
6.4.3 Braj Binani Group
6.4.4 Chongqing Polycomp International Corp. (CPIC)
6.4.5 GUARDIAN INDUSTRIES
6.4.6 Johns Manville
6.4.7 Jushi Group Co. Ltd
6.4.8 Nippon Electric Glass Co. Ltd
6.4.9 Owens Corning
6.4.10 PFG FIBER GLASS CORPORATION
6.4.11 Saint-Gobain Vetrotex
6.4.12 Taishan Fiberglass Co. Ltd
6.4.13 TAIWAN GLASS IND. CORP.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growth in the Usage of Lightweight Glass Fiber Reinforced Plastic (GFRP) Composites
7.2 Increasing Demand of fiberglass composite materials for the Wind Energy Sector
Note: Product cover images may vary from those shown
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  • AGY
  • ASAHI FIBER GLASS Co. Ltd
  • Braj Binani Group
  • Chongqing Polycomp International Corp. (CPIC)
  • GUARDIAN INDUSTRIES
  • Johns Manville
  • Jushi Group Co. Ltd
  • Nippon Electric Glass Co. Ltd
  • Owens Corning
  • PFG FIBER GLASS CORPORATION
  • Saint-Gobain Vetrotex
  • Taishan Fiberglass Co. Ltd
  • TAIWAN GLASS IND. CORP.
Note: Product cover images may vary from those shown
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