According to a research survey conducted by ChemView Consulting, in 2022, the Global Glass Fiber Market was worth US$ 19.0 Bn and is expected to grow at a CAGR of 5.0% over the forecast period. The market is expected to hit US$ 28.1 Bn by 2030 end.
Impact of COVID-19 In 2020, because of unfold of COVID-19, fiberglass marketplace witnessed decline throughout the world. The uncooked substances utilized in making fiberglass are soda ash, lime, and silica. China is a hub of fiberglass production and a prime provider of uncooked substances for production fiberglass. The outbreak of COVID-19 has affected the materials of those uncooked substances in China. The u . s . a . is a prime provider of soda ash. The spoil withinside the materials of such uncooked substances has decreased the manufacturing of fiberglass and fiberglass composites. Owing to lockdowns globally, the manufacturing and transportation of fiberglass have considerably declined, affecting the commercial enterprise of fiber in addition to prepreg and composites producers. Owing to the lockdown in COVID-19-affected international locations, the hard work pressure can not be deployed at the producing facilities. Orders for factor production had additionally come to a standstill. Fiberglass producers can not supply the finished orders and incurred losses in 2020. Major end-use industries had been affected, ensuing in a lower in call for for fiberglass in 2020. The fiberglass marketplace has witnessed a decline in 2020 because of the COVID-19 pandemic. This lethal virus has adversely affected the whole globe, specifically the North American and European regions. To save you the similarly unfold of this virus, businesses had been close down their operations and production facilities, which brought about a discount withinside the intake of fiberglass throughout construction, car, aerospace, wind power, wearing goods, car, and different industries. Increased use of fiberglass composites withinside the car enterprise to power the call for for fiberglass Higher electricity-to-weight ratio as an essential thing taken into consideration withinside the production of automobile, fiberglass merchandise get huge utilized in numerous programs. During the producing, substances that gives excessive electricity and possesses low weight allows to supply the excessive mileage at the side of the improved gas performance of the motors. Many international locations are focusing at the manufacturing of light-weight motors as a way to meet CAFÉ (Corporate Average Fuel Economy) this is riding using glass fiber composites in car enterprise. Thus, the growing inclination toward light-weight and gas-green motors is taken into consideration one of the predominant drivers contributing to the boom of the fiberglass marketplace. Issues withinside the glass wool recycling is a prime restrain for the fiberglass marketplace Glass wool is a low-value and green insulation material. However, it's far hard to recycle, accordingly posing a prime venture for the insulation enterprise. Proper disposable strategies are required to get rid of glass wool material, at the side of the masks and defensive garb for the bodily protection of the employees concerned withinside the disposal system. The rising international locations lack the infrastructure wanted for the secure disposal of glass wool. They additionally lack right disposal and recycling strategies, which ends up in the compilation of glass wool waste. Considering that Asia Pacific is the most important marketplace for glass wool, and maximum international locations withinside the place are growing ones, efforts are required to enhance recycling strategies for the material. Increasing wide variety of wind power ability installations is the an possibility to fiberglass marketplace to develop Fiberglass composites get broadly used
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A list of some of the key suppliers present in the market are:
- China Jushi Co., Ltd.
- Owens Corning
- Nippon Electric Glass Co.
- Taishan Fiberglass Inc.
- Chongqing Polycomp International Corp.
- Johns Manville Corp.
- Binani 3B-the Fibreglass Company
- Taiwan Glass Ind. Corp.
- PFG Fiber Glass (Kunshan) Co., Ltd.
- Asahi Fiberglass Co., Ltd.
- Knauf Insulation
- Saint-Gobain Vetrotex
- CertainTeed Corporation
- Saint-Gobain ADFORS
- AGY Holding Corp.
Market Segments Covered in Report
By Glass Type:
By Resin Type:
- Thermoset Resin
- Thermoplastic resin
By Product Type:
- Glass Wool
- Direct and Assembled Roving
- Chopped Strand
- Milled Fibers
- Multiaxial Fabrics
- Construction Infrastructure
- Wind Energy
- Others (Marine, Consumer Goods, Healthcare, and Agriculture)
- Residential Construction
- Non-residential Construction
- Others (HVAC and OEM Insulations)
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Global Glass Fiber Market 2022-2030: Report Coverage and Highlights
- Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Segment-wise, country-wise, and region-wise market analysis
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Key product innovations and regulatory framework
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
For More Details Visit our Report Page;https://chemviewconsulting.com/reports/glass-fiber-market/
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