E-glass fibre Market: Segmented by Fiber Type (E/ECR-Glass Fiber, S-Glass Fiber, C-Glass Fiber and Others); By Product type (Single-End Roving, Multi-End Roving, Woven Roving and Others); By Application (Automotive & transport, Construction, Wind energy, Pipes & tanks) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] E-glass fibre market to surpass USD 17.25 billion by 2030 from USD 8.6 billion in 2020 at a CAGR of 7.21% in the coming years, i.e., 2021-30.
E-glass fiber has been used as a high-temperature insulator for electrical conductors in large-scale industrial applications since 1930. E-glass fibres are the most widely used in the textile sector and in composite materials, accounting for 90% of all reinforcements. The resilience to high temperatures and outstanding electrical insulating characteristics of this high-quality fiber set it apart. This fiber is rot-proof, chemically resistant, and dimensionally stable, even when subjected to significant changes in humidity and temperature. E-glass fiber materials are particularly abrasion and vibration resistant, as well as extremely flexible. The specific resistance of glass threads is greater than that of steel threads (tensile strength/volumetric mass). This property allows glass threads to be developed to strengthen high-performance composites.
E-glass fiber market is expected to project a notable CAGR of 7.21% in 2030
E-glass fiber yarn & roving market size is expected to grow due to rising demand for glass fibers from the automotive & transportation, construction, wind energy, pipes & tanks, and aerospace industries. These lightweight materials provide excellent tensile strength, flexibility, thermal and electrical resistance at a low cost. As the construction industry places a greater emphasis on energy saving, the market for E-glass fiber yarn and roving for use as insulating materials is projected to expand.
E/ECR-Glass Fiber segment to grow with the highest CAGR during 2020-30
E-glass fiber market is segmented by Fiber type into E/ECR-Glass Fiber, S-Glass Fiber, C-Glass Fiber, and Others. Among these the E/ECR-Glass category dominated the market in 2019, accounting for the bulk of global shares. In comparison to E-glass fiber, ECR-glass fiber, also known as electronic glass fiber, has higher mechanical strength, a better waterproofing ratio, and electrical acidic and alkali corrosion resistance. It is utilized in the production of transparent GRP panels. During the projected period, this sector will grow due to increased demand from different end-use industries.
Transportation segment to grow with the highest CAGR during 2020-30
E-glass fiber market is segmented by Application into Automotive & Transportation, Construction, Wind Energy, Pipes & tanks. Among these, the transportation segment had the highest revenue share in 2019. Roof panels, doors, windows, cooling ventilators, baggage bins, seats, and headrest back panels are some of the uses for glass fiber in the transportation industry. The strength-to-weight ratio of glass fiber is higher, which is an important element in vehicle manufacture. These factors are expected to accelerate the growth of the glass fibre market in the transportation industry during the forecast period.
Growing Demand for Glass Fibers from Construction Industry
The need for glass fibres is projected to rise as the global construction industry grows. The market for glass fibres is being boosted by new residential development in developed countries such as the United States. Developing economies, such as China and India, are experiencing a rapid economic expansion, which is leading in robust infrastructure construction. Construction of new buildings, maintenance and repairs, remodeling, or upgrading existing structures, on-site assembly of precut; construction of temporary buildings; and installation of specialist building utilities such as elevators and escalators are all increasing in these nations. Glass fiber consumption in construction industries is expected to rise as a result of all of these causes.
The recycling of glass wool is a major restraint to the expansion of the fiberglass market. Glass wool material, as well as the mask and protective gear worn by workers participating in the disposal procedure, must be disposed of using proper disposal processes. Furthermore, as public awareness of waste management regulations and environmental legislation grows, engineering materials from goods such as vehicles, wind turbines, and airplanes that have outlived their useful lives must now be properly collected and recycled. Therefore, proper recycling methods for glass wool and other composite materials are becoming increasingly vital for the E-glass fiber market in long-term growth.
Changzhou Tianma Group
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
E-glass fibre market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. E-glass fibre market in Asia Pacific held the largest market share in the year 2019. With the growth of different end-use sectors such as automotive, construction, aerospace, marine, and wind, the demand for glass fibre is projected to rise in the area. The rising demand for glass fibres in industrial applications, together with the region's cheap production costs, labor costs, capital costs, and investment costs, are driving the industry forward. To fulfill the growing demand for glass fibers in the area, glass fibre manufacturers are expanding their manufacturing activities in countries such as China, India, Japan, and South Korea.
E-glass fiber Market is further segmented by region into:
E-glass Fibre Segments:
|Market size value in 2021||USD 9.22 billion|
|Revenue forecast in 2030||USD 17.25 billion|
|Growth Rate||CAGR of 7.21% from 2021 to 2030|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD billion and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Fiber type, Product Type, Application and Region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)|
|Key companies profiled||Changzhou Tianma Group, Vetrotex (Saint-Gobain), Nippon Electric Glass, Lanxess, Jiangsu Jiuding New Material, CPIC, Ahlstrom, Taishan Fiberglass (Sinoma), Johns Manville, Owens Corning Corporation, Jushi Group, PPG Industries, and Other Prominent Players.|
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