Fiberglass Fabric Market Is Projected To Reach $13.48 Billion By 2022 | CAGR: 7.62%

Posted on 2020-01-08 by MarketsandMarkets in Chemicals // 0 Comments

CITY – Northbrook, Country – USA, 2020-Jan-08 — /EPR Network/ —

The global fiberglass fabric market size is projected to reach USD 13.48 billion by 2022, at a CAGR of 7.62% from 2017 to 2022. For instance, Owens Corning (US), an established company, has focused on strategic approaches namely acquisitions, investments, new product developments, and expansions to fortify its glass fiber business.

Fiberglass fabrics have a unique set of properties namely high strength, lightweight, corrosion resistance, electrical insulation, durability, and others. These unique properties lead to the increased demand for fiberglass fabrics for various applications such as wind energy, electrical & electronics, construction, transportation, marine, aerospace & defense, and others.

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The Asia Pacific region is leading the global fiberglass fabric market, in terms of volume, and this trend is expected to continue till 2022. The key countries in this region, namely, China, Japan, and India, among others, are witnessing a gradual increase in the use of fiberglass fabric in the wind energy, transportation, and electrical & electronics, among other industries.

The growth in the fiberglass fabric market is majorly due to the rising demand for superior performance materials from the wind energy and transportation industry. China leads the fiberglass fabric market in the Asia Pacific, accounting for more than half of the demand in the region.

Woven fiberglass fabric is the fastest-growing fabric in the fiberglass fabric market as it is used in various applications and offers high strength, corrosion resistance, and high thermal properties. Woven fiberglass fabrics enable the manufacture of lightweight and longer wind turbine blades that can capture greater volumes of wind at lower wind speeds, as also these wind turbines are easier to transport to off shore areas.

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Wind energy is estimated to be the fastest-growing application market for fiberglass fabric. According to the Global Wind Energy Council (GWEC), by 2035, the renewable sources of energy are expected to generate more than 25% of the world’s electricity, and a quarter of this is expected to be derived from wind energy, which can also help in reducing CO2 emissions.

In terms of fiber type, the market for E-glass fabric is expected to grow at the highest CAGR. E-glass fabrics are majorly used in the wind energy and electrical & electronics industries. E-glass fabrics are cost efficient and offer a wide range of properties such as corrosion resistance, lightweight, high electrical insulation, and strength, and are thus increasingly preferred in various applications.

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Target Audience:

Fiberglass Fabric Manufacturers
Raw Material Suppliers
Distributors and Suppliers
End-use Industries
Industry Associations

Scope of the Report:

This research report categorizes the fiberglass fabric market based on fiber type, fabric type, application, and region, and forecasts revenue growth and analyzes trends in each of the submarkets.

By Region

North America
Europe
Asia Pacific
Middle East & Africa (ME&A)
Latin America

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