Who are the key vendors in the Glass Fiber Market?

Glass fiber manufacturers are estimated to invest in the R&D of novel materials and products to satisfy the surging demand for new lightweight and durable materials. Companies can also collaborate and partner with renowned automotive, aerospace, and construction companies to create custom materials to expand their business potential. Mergers and acquisitions are also estimated to be popular strategies adopted by glass fiber companies to expand their global market presence. The global glass fiber market is nearing consolidation and high costs of production are also making this a tough market to penetrate for new companies. 'Shandong Fiberglass Group Co. Ltd.', 'PFG Fiber Glass Corporation', 'Taishan Fiberglass Inc.', 'Jushi Group Co. Ltd.', 'Owens Corning', 'Chongqing Polycomp International Corp.', 'Xingtai Jinniu Fiberglass Co. Ltd.', 'Johns Manville', 'Saint-Gobain', 'Glasstex Fiberglass Materials Corp.', 'Nippon Electric Glass Co. Ltd.', 'CPIC Abahsain Fiberglass M.E. W.L.L.', 'Zibo Zhuoyi Fiberglass Material Co. Ltd.'.

Glass Fiber Market Size, Share, Growth Analysis, By Type(S-Glass Fiber, C-Glass Fiber, E-Glass Fiber, ECR-Glass Fiber), By Application(Aerospace, Transportation, Building and construction, Electrical and Electronics), By Region - Industry Forecast 2024-2031

Q: What is the market size of Glass Fiber Market?

Global glass fiber market size was valued at USD 20.9 billion in 2022 and is poised to grow from USD 22.01 billion in 2023 to USD 32.27 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Q: Which region accounted for the largest share in Glass Fiber Market?

Asia Pacific accounts for a dominant share of the global glass fiber marketplace. Rapid industrialization and urbanization are slated to be primary factors driving glass fiber demand in this region. High investments in infrastructure development, rising disposable income, and growing automotive manufacturing are other prospects that could boost sales of glass fiber in this region over the coming years. India, China, Japan, and South Korea are estimated to be the key markets for glass fiber manufacturers as well as distributors in the Asia Pacific region.

Report ID: SQMIG15A2427 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 68

Glass Fiber Market Dynamics

Drivers

High Demand for Lightweight Materials

Glass fibers play a crucial role in the development and manufacturing of novel composite lightweight materials that are high in demand across different industry verticals such as automotive and aerospace.

Rising Construction Activity

Glass fibers are also being used extensively in different construction applications to develop new construction materials or strengthen existing ones by incorporating glass fibers in them thereby driving market growth as well.

Restraints

Availability of Alternatives

Carbon fiber has emerged as a popular alternative to fiber glass materials and with increasing investments in new material development, more alternatives are projected to be available in the future. This high availability of different low-cost alternatives could slow down market growth going forward.

Volatility in Raw Material Pricing

Prices of raw materials required to make glass fiber are subject to major fluctuations and this is a key factor that could impede the glass fiber market growth in the future. Companies also struggle to keep up their profit margins due to this volatility and further slow down market progress.

Glass Fiber Market Report Snapshots

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FAQs

glass fiber market size was valued at USD 20.9 billion in 2022 and is poised to grow from USD 22.01 billion in 2023 to USD 32.27 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Glass fiber manufacturers are estimated to invest in the R&D of novel materials and products to satisfy the surging demand for new lightweight and durable materials. Companies can also collaborate and partner with renowned automotive, aerospace, and construction companies to create custom materials to expand their business potential. Mergers and acquisitions are also estimated to be popular strategies adopted by glass fiber companies to expand their market presence. The glass fiber market is nearing consolidation and high costs of production are also making this a tough market to penetrate for new companies. 'Shandong Fiberglass Group Co. Ltd.', 'PFG Fiber Glass Corporation', 'Taishan Fiberglass Inc.', 'Jushi Group Co. Ltd.', 'Owens Corning', 'Chongqing Polycomp International Corp.', 'Xingtai Jinniu Fiberglass Co. Ltd.', 'Johns Manville', 'Saint-Gobain', 'Glasstex Fiberglass Materials Corp.', 'Nippon Electric Glass Co. Ltd.', 'CPIC Abahsain Fiberglass M.E. W.L.L.', 'Zibo Zhuoyi Fiberglass Material Co. Ltd.'

Glass fibers play a crucial role in the development and manufacturing of novel composite lightweight materials that are high in demand across different industry verticals such as automotive and aerospace.

Growing Use of GFRP and GFR Concrete: Glass fiber-reinforced polymers are gaining popularity in different applications, and this is why glass fiber providers are continually focusing on innovation to improve their business potential. Glass fiber-reinforced concrete is also being used extensively in construction applications, which is also estimated to offer attractive new growth opportunities for glass fiber market players over the coming years.

Asia Pacific accounts for a dominant share of the glass fiber marketplace. Rapid industrialization and urbanization are slated to be primary factors driving glass fiber demand in this region. High investments in infrastructure development, rising disposable income, and growing automotive manufacturing are other prospects that could boost sales of glass fiber in this region over the coming years. India, China, Japan, and South Korea are estimated to be the key markets for glass fiber manufacturers as well as distributors in the Asia Pacific region.

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Glass Fiber Market Size, Share, Growth Analysis, By Type(S-Glass Fiber, C-Glass Fiber, E-Glass Fiber, ECR-Glass Fiber), By Application(Aerospace, Transportation, Building and construction, Electrical and Electronics), By Region - Industry Forecast 2024-2031

Glass Fiber Market Dynamics

Glass Fiber Market Report Snapshots

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What is the market size of Glass Fiber Market?

Who are the key vendors in the Glass Fiber Market?

What is the key driver of Glass Fiber Market?

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Which region accounted for the largest share in Glass Fiber Market?

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