Asia Pacific Glass Fiber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Fiber Type, Product Type, Application, and Manufacturing Process

Transportation Segment to Dominate APAC Glass Fiber Market During 2020-2027.

According to a new market research study on “APAC Glass Fiber Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Fiber Type, Product Type, Application, and Manufacturing Process,” is expected to reach US$ 9,819.62 million by 2027 from US$ 7,183.72 million in 2020. The market is estimated to grow at a CAGR of 4.6% from 2020 to 2027. The report provides trends prevailing in the APAC glass fiber market along with the drivers and restraints pertaining to the market growth. Burgeoning development of advanced glass fibers for the wind energy and mounting usage of lightweight glass fiber reinforced plastic (gfrp) composites are the major factor driving the growth of the APAC glass fiber market. However, presence of carbon fiber and mineral wool hinders the growth of APAC glass fiber market.

In case of COVID-19, APAC is highly affected specially India. The COVID-19 is anticipated to cause a significant economic loss in the APAC region. The consequence and impact can be even worse and totally depends on the spread of the virus. The governments of various APAC countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the revenue generated by the market. The Government have asked the chemical & materials manufacturers to delay their production which will adversely affect the global supply of glass fiber. Furthermore, travel bans imposed by countries in APAC region are affecting opportunities for business collaborations and partnerships. All of these factors are expected to have a negative impact on the chemical and materials industry, acting as a stifling factor for the growth of various markets related to this industry in the coming months.

The APAC glass fiber market is segmented based on fiber type, product type, application, manufacturing process, and country. Based on different fiber type used in the manufacturing of glass fibers, the market is segmented into e/ecr-glass fiber, s-glass fiber, c-glass fiber, and others. The e/ecr-glass fiber segment dominate the APAC glass fiber market in 2019 and is also expected to be fastest growing during forecast period. Based on product type, the market has been segmented into single-end roving, multi-end roving, woven roving, and others. The others segment dominated the APAC glass fiber market in 2019 and is also expected to be fastest growing during forecast period. Based on application, market has been segmented into the marine, transportation, aerospace, construction, electrical and electronics, consumer goods, and others. The transportation segment dominated the APAC glass fiber market in 2019 and is also expected to be fastest growing during forecast period. By manufacturing process, market is segmented into hand lay up, spray up, prepreg lay up, injection molding, compression molding, resin infusion, and others. The others segment dominated the APAC glass fiber market in 2019 and resin infusion segment is expected to be fastest growing during forecast period.

China Jushi Co. Ltd.; Chongqing Polycomp International Corp. (CPIC); Goa Glass Fibre Limited; Johns Manville; Nippon Electric Glass Co.Ltd.; Owens Corning; SAINT GOBAIN S.A.; Sichuan Weibo New Material Group Co. Ltd.; Taishan Fiberglass Inc. (CTG); and Taiwan Glass Group are among the leading companies in the APAC glass fiber market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Owens Corning has entered into a technology licensing and manufacturing supply agreement with Taiwan Glass Ind. Corp. based in Taipei, Taiwan. The agreements will leverage Owens Corning Advantex glass fiber reinforcements and the well-positioned manufacturing platform of Taiwan Glass to manufacture a mix of products for thermoplastic and thermoset applications.

The report segments the APAC Glass Fiber Market as follows:

APAC Glass Fiber Market - By Fiber Type

• E/ECR-Glass Fiber
• S-Glass Fiber
• C-Glass Fiber
• Others

APAC Glass Fiber Market - By Product Type

• Single-End Roving
• Multi-End Roving
• Woven Roving
• Others

APAC Glass Fiber Market - By Application

• Marine
• Transportation
• Aerospace
• Construction
• Electrical and Electronics
• Consumer Goods
• Others

APAC Glass Fiber Market - By Manufacturing Process

• Hand Lay Up
• Spray Up
• Prepreg Lay Up
• Injection Molding
• Compression Molding
• Resin Infusion
• Others

APAC Glass Fiber Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC glass fiber market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the APAC glass fiber market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the glass fiber market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution