Market Research Report
Fiberglass Fabric Market 2020-2026
|Fiberglass Fabric Market 2020-2026|
Published: May 4, 2021
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Global Fiberglass Fabric Market Size, Share & Trends Analysis Report by Fabric Type (Woven and Non-Woven) By Fiber Type (E-Glass, S-Glass, and Others) By Application (Construction, Wind Energy, Electrical & Electronics, Transportation, Aerospace & Defense, Others ) Forecast 2021-2027
The global market for fiberglass fabric is projected to have a CAGR of 6.7% during the forecast period. A fiberglass fabric and glass fibers are of bulk, chopped fibers, or continuous strands of glass. Glass fibers and fiberglass cloth is used in reinforced plastics and composites as well as other specialized electrical and thermal applications. Fiberglass fabrics are green, energy-efficient, and sustainable material. Fiberglass comes in various forms such as fiberglass tape, fiberglass cloth, and fiberglass rope to suit various applications. Apart from this, they also possess unique properties which include mechanical strength, electrical characteristics, incombustibility, dimensional stability, compatibility with organic matrices, thermal conductivity, dielectric permeability, among others which make them suitable for a wide area of applications such as manufacturing of printed board circuits (PCBs) in the electric application.
The factors driving the growth of the global fiberglass fabric market include growing population and rapid urbanization which increase the development of industrialization in emerging economies. Increasing use of fabrics in various applications such as aerospace, defense, transportation, electrical, and construction propels the growth of the market. The use of green sustainable material and changing standard of living of people across the globe has also contributed to the growth of the market. Moreover, the factors such as lack of awareness among people regarding benefits or uses of fiberglass fabric and high cost of production figured as the constraints for the market growth. Besides, new product development, Improvement of infrastructural facilities, and development of the manufacturing sector have created ample opportunity for the fiberglass fabric market.
Impact of COVID-19 on fiberglass fabric industry
The COVID-19 has disrupted the global fiberglass fabric market. To maintain the social distancing norms and to curb the spread of COVID-19, most of the economies across the globe implemented lockdown, which has negatively affected the supply chain and production of fiberglass fabric and hence the market has registered the declination. Post Covid-19, the factors such as increasing demand for fiberglass fabrics in the wind energy generation products to generate renewable energy can be expected to boost the market growth.
The global fiberglass fabric market is segmented based on fabric type, fiber type, and application. Based on fabric type, the market is segmented into woven and non-woven. Among these, the non-woven segment is projected to hold a major market share during the forecast period. The non-woven glass fabric offers high tear strength and can be used in a wide area of applications. These fabrics are highly adopted in the construction industry owing to the longer durability and chemically inert and non-toxic. On the basis of fiber type, the market is classified into e-glass, s-glass, and others (a-glass, c-glass, and d-glass). Among these, the e-glass fibers are the fastest-growing during the forecast period owing to their superior properties such as inorganic, good abrasion resistance, low thermal conductivity, and excellent dielectric strength. Similarly, based on application, the market is divided into construction, wind energy, electrical & electronics, transportation, aerospace & defense, others (marine).
Global Fiberglass Fabric Market Share by Application, 2020 (%)
Source: OMR global
Construction Industry significantly contributing to the global fiberglass fabric market.
Among application, the construction segment held the major share in 2020, and it is projected to grow at a considerable CAGR during the forecast period. The fiberglass fabrics such as woven and non-woven fabrics are gaining high importance in the construction industry. In the construction industry, these fabrics are used as insulation screens, baths and shower stalls, cooling tower components, roofing panels, insulation panels, among others. Additionally, fiberglass fabrics provide strength and productivity advantages, and highly effective insulation material due to their waterproof properties. The waterproof features of these materials make them suitable in exterior and roof panel applications. Additionally, this fiberglass fabric offers effective protection of the structure against heat, corrosion, rust, and impacts in the construction of buildings. These properties provided by fiberglass fabric increase their usage in the construction industry that further boost the market growth.
Geographically, the global fiberglass fabric market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North America is anticipated to grow at a significant CAGR during the forecast period. The regional growth is mainly attributed to the rapid development in electrical & electronics, aerospace & defense, and wind power generation industries. Besides, the presence of major market players in the region and high expenditure by them for the production of fiberglass fabrics on a large level is further anticipated to drive the growth of the market.
Global Fiberglass Fabric Market Growth, by Region 2021-2027
Source: OMR Global
Asia-Pacific is projected to dominate the Fiberglass Fabric Market.
Geographically, Asia-Pacific is projected to hold the major market share in 2020, it is projected to dominate the market during the forecast period. The regional growth is mainly contributed by the emerging economies such as China, Japan, India, and South Korea. The use of fiberglass fabric products in wind energy and electrical & electronics application is increasing in Asia-Pacific which driving the growth of the market in the region. China is the largest consumer of fiberglass in the Asia-Pacific due to the availability of raw materials, manufacturing facility, and presence of global presence of the major player. The wind energy and electric & electronics industries are growing in the region which demands the fiberglass fabric, resulting in the growth of the market.
Market Players Outlook
The key players in the fiberglass fabric market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market are Owens Corning, SAERTEX GmbH & Co.KG, Zhenshi Holding Group Co., Ltd, Taiwan Electric Insulator Co., Ltd, Tah Tong Textile Co., Ltd., Gurit Holding AG, Hexcel Corp., BGF Industries, Inc., Fothergill Group, among others. To sustain a strong position in the market these players adopt different marketing strategies such as mergers and acquisitions, R&D, product launches, and geographical expansions so on.
The Report Covers
Market value data analysis of 2020 and forecast to 2027.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global fiberglass fabric market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.