E-Glass Market : Segmented by Type (Boron-Containing, Boron-Free Varieties); By Application (Reinforcement Agent (glass fiber composites), Glassware, Insulation, Semiconductors, Lighting, Optics and Others); By End-User (Transportation, Building & Construction, Industrial, Wind Turbine, Consumer Goods, Electronics and Others) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] E-Glass market to surpass USD 39.4 billion by 2030 from USD 28.4 billion in 2020 at a CAGR of 3.33% in the coming years, i.e., 2021-30.
Glass fiber is a versatile industrial material that can be made from a variety of basic materials. Transparency, hardness, chemical attack resistance, and stability, as well as fiber qualities including stiffness, flexibility, and strength, are all present in it. Printed circuit boards, structural composites, and a variety of special-purpose items are all made with glass fibers. The letter "e" stands for "electrical grade" in e-glass (also known as e-class glass fiber), indicating its low electrical conductivity. E-glass is recognized for having low thermal expansion coefficients, making it more resistant to thermal shock than regular glass. It is resistant to thermal shock and is commonly used to make glassware for use in labs, kitchens, and other general applications. E-glass was originally designed as insulators for electrical wire standoffs. It was also discovered to have outstanding fiber-forming properties.
E-Glass Market is expected to project a notable CAGR of 3.33% in 2030
Growing demand for glass fibers from the construction, automotive & transportation, wind energy, and aerospace industries, as well as product features such as high tensile strength, lightweight, flexibility, thermal & electrical resistance at low cost, and increasing demand for fuel-efficient and high load-bearing capacity, are expected to propel the market forward during the forecast period.
Reinforcement agent segment to grow with the highest CAGR during 2020-30
E-Glass market is segmented by Application into Reinforcement agents (glass fiber composites), Glassware, Insulation, Semiconductors, Lighting, Optics, and others. Among these the Reinforcement agent category is expected to grow at the highest CAGR during the forecast period. Due to its extensive applicability in different sectors such as GRP & GRE pipes, storage tanks, traffic lights, car body parts, rowing shells & oars, helmets, surfboards, tent poles, ship hulls, antenna covers & structures, and others, this category is expected to lead the market.
Wind turbine segment to grow with the highest CAGR during 2020-30
E-Glass market is segmented by End-User into Transportation, Building & Construction, Industrial, Wind turbine, Consumer goods, Electronics, and others. Among these Wind turbine segments is expected to grow at the highest CAGR during the forecast period. The increasing amount of wind energy plants has benefited in meeting global energy demands. The usage of e-glass fiber in the wind energy sector has also changed the market's growth trajectory.
Increasing use of fiberglass composites in the automotive industry
Fiberglass offers a better strength-to-weight ratio, which is a key consideration in the auto sector. Vehicles constructed with lightweight, high-strength components provide better mileage and fuel efficiency. To minimize carbon dioxide emissions, the automobile sector has been subjected to stringent restrictions. As a result, the industry has been encouraged to create fuel-efficient lightweight vehicles in order to reduce greenhouse gas emissions. In the automobile industry, fiberglass composite is widely utilized as an alternative for aluminum and steel in the production of lightweight vehicles thus boosting the E glass market.
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 market in long-term growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
E-Glass 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. Due to global revenue creation, the Asia-Pacific region is anticipated to recoup the largest market share throughout the forecast period. China, Japan, and India all contribute significantly to the region's revenue generation. The Asia Pacific E-glass market is expected to be driven by the rising building and construction sector's increased need for effective insulation materials and a growing population in China. Furthermore, China's favorable government regulations have helped the expansion of the e-glass market by regulating composite materials and technologies.
E-Glass Market is further segmented by region into:
E-Glass Market Segments:
|Market size value in 2021||USD 29.34 billion|
|Revenue forecast in 2030||USD 39.4 billion|
|Growth Rate||CAGR of 3.33% 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||Type, Application, End-user, and Region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)|
|Key companies profiled||AGY, Jiangsu Jiuding New Material Co. Ltd, Jushi Group Co. Ltd., Nippon Electric Glass Co. Ltd, Novalglass.com, Owens Corning, PBM Insulations Pvt. Ltd., PPG Industries Inc, Rex Sealing & Packing, Industries Pvt. Limited, SCHOTT AG, SGG, Shenzhen Sun Global Glass Co. Ltd., and Other Prominent Players.|
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