Market Research Report
Global Fiberglass Fabric Market - 2020-2027
|Global Fiberglass Fabric Market - 2020-2027|
Published: April 3, 2021
Content info: 180 Pages
Delivery time: 2 business days
The global fiberglass fabric market size was worth USD XX billion in 2019 and is estimated to reach USD XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Fiberglass fabric is an inorganic, non-metallic material commonly derived from natural materials such as quartz, sand, limestone, kaolin and dolomite and others. Fiberglass fabrics exhibit properties such as high tensile strength, heat resistance, insulation, thermal conductivity and chemical resistance and durability. Because of these properties, fiberglass fabrics are extensively used in the uniformity of the surface structure, wall reinforcement, fire and heat resistance, noise reduction and many others.
Also, fiberglass fabrics are used in electronics in PCBs manufacturing due to their properties of electrical resistance and electric insulation. High-temperature resistance, growing corrosion resistance applications, innovative applications in the wind energy, aerospace and marine sectors are expected to increase the demand for fiberglass fabric over the forecast period of 2020-2027.
Increasing demand of heat resistant fabric is expected to drive the fiberglass fabric market
High thermal insulation applications such as welding protection, oven curtains, expansion joints, high-temperature gaskets, slow cooling blankets for foundries, gloves and other high-temperature personal protective equipment require heat-resistant materials to withstand the temperature. Fiberglass fabric serves as the go-to material for industrial heat protection from welding cloth to fabricated parts. Standard fiberglass fabric provides excellent protection in applications up to 1000°F/550°C. Moreover, fiberglass fabrics are also chemical resistant and have high dielectric strength.
Fiberglass fabrics are also used in electronics in PCBs manufacturing due to their properties, such as electrical resistance and electric insulation. Increasing temperatures, growing corrosion resistance applications, and innovative applications drive fiberglass fabric demand over the forecast period.
High cost of production is anticipated to hinder the fiberglass fabric market growth
Composite materials like glass fiber are still more expensive than conventional products such as steel, aluminum, and wood. The production cost of composite fiber make up a large portion of the composite retail price. Glass fiber is an inorganic non-metallic material that requires chemical such as silica, aluminum oxide, calcium oxide, magnesium oxide, sodium oxide, boron oxide as raw materials. Also, glass fiber is made from crystal balls or waste glass that requires the processes of high-temperature founding, brushing, winding and weaving, significantly increasing the cost of production.
Based on application, the fiberglass fabric market is segmented into wind energy, building & construction, automotive & aerospace, electrical & electronics, marine and others.
The wind energy sector is expected to dominate the segment, owing to an increase in demand for renewable and sustainable energy
As per the "Future of Wind" published at China Wind Power, global wind power could increase ten-fold, reaching over 6000 GW by 2050. By mid-century, wind could cover one-third of global power needs. Moreover, wind energy and electrification could deliver a quarter of the energy-related carbon emission reductions needed to meet the Paris climate targets.
Fiberglass fabrics have been used in lightweight constructions for the globally rising wind energy industry, where they have been integrated into multiple wind energy applications. Fiberglass composite components such as fabric allow high strength at a low weight for cost-effective manufacturing of longer and efficient rotor blades for larger wind turbines. For instance, fiberglass biaxial fabric for wind energy provides faster fabrication of parts with better physical and mechanical properties. Also, Twisted fiberglass yarns and ZeroTwist® are used in lightweight constructions for the wind energy industry.
Asia-Pacific dominates the fiberglass fabric market, owing to investments in wind energy and construction sector
Asia-Pacific is anticipated to dominate the market, owing to the highly developed electronics and construction sector and the continuous investments in the wind energy sector over the years. As per a report by the International Renewable Energy Agency (IRENA), Asia could grow its share for onshore wind from 230 Gigawatt in 2018 to over 2600 GW by 2050. By that time, the region would become a global leader in the wind energy sector, accounting for more than 50 percent of onshore and over 60 percent of offshore wind capacity installed globally.
Moreover, countries such as China, India, Singapore, and South Korea have seen significant construction industry growth. As per the Ministry of Trade and Industry of Singapore, the construction industry has witnessed growth in recent years due to the residential sector's expansions.
Henceforth, the growing construction sector in developing countries, coupled with increasing investments in the wind energy sector in Asia-Pacific, is projected to drive the market for fiberglass fabrics over the forecast period.
The fiberglass fabric market is moderately competitive with presence of local as well as global companies. Key players operating in the market include Saint-Gobain S.A, Owens Corning, Hexcel Corporation, Jushi Group Co. Ltd, Central Glass Co, Gurit, U.S. Composites, Inc., Fibre Glast Developments Corp., Tah Tong Textile Co., Ltd., Auburn Manufacturing, Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the fiberglass fabric market globally.
Overview: Saint-Gobain S.A is a French multinational company engaged in designing, manufacturing and distributing materials and solutions for construction, mobility, healthcare and other industrial application markets.
Product Portfolio: Saint-Gobain Vetrotex is the leading producer of textile fiberglass materials. The product range includes fiberglass yarns, beams, ZeroTwist®, textile chopped strands, texturized and voluminized yarns, C-Glass staple fiber yarns and direct roving.
The global fiberglass fabric market report would provide an access to an approx. 61 market data table, 54 figures and 240 pages.
LIST NOT EXHAUSTIVE