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Fiberglass Fabric Market

Fiberglass Fabric Market

Fiberglass Fabric Market Analysis By Type (Woven & Non-woven Fiberglass Fabric) By Category (E-class Fiberglass Fabric, S-class Fiberglass Fabric & Others Fiberglass Fabric) By Application and By Region – Global Market Insights 2022 to 2032

Fiberglass Fabric Market
FACT878MR

Fiberglass Fabric Market Outlook (2022-2032)

The global fiberglass fabric market is currently valued at US$ 10.27 billion and is predicted to expand at a high CAGR of 7.2% to reach US$ 20.69 billion by 2032.

A major factor fuelling market expansion is the surge in demand for fiberglass fabric to be used in creating lightweight, long, and effective rotor blades for wind energy systems that have good corrosion resistance and electrical and thermal insulation qualities.

Report Attributes

Details

Fiberglass Fabric Market Size (2022E)

US$ 10.27 Billion

Forecasted Market Value (2032F)

US$ 20.69 Billion

Global Market Growth Rate (2022-2032)

7.2% CAGR

North America Market Share (2022)

24.6%

Europe Market Share (2022)

21.3%

Market Share of Top 3 Countries

37.9%

Key Companies Profiled

  • Chomarat Textile Industries
  • Gurit
  • Saint-Gobain Performance Plastics
  • Asahi Kasei Corporation
  • Porcher Industries
  • Saertex GmbH & Co. Kg.
  • Hexcel Corporation
  • Taiwan Electric Insulator Co. Ltd
  • Nitto Boseki Co., Ltd.

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Fiberglass Fabric Sales Analysis (2017-2021) Vs. Market Outlook (2022-2032)

High-pressure laminates for printed circuit boards can be reinforced with fiberglass fabrics because of their excellent qualities, such as flawless electrical resistance and electric insulation. Due to the widespread use of these printed circuit boards in computers, telephones, consumer electronics, automobiles, and telecommunication goods, fiberglass textiles are in high demand across a variety of application industries.

To ensure uniformity in fabric quality, glass fiber, a fundamental raw ingredient, is purchased from a small group of vendors or a single provider. To keep their consumers, producers must continually develop, uphold high standards for their goods, and integrate throughout the supply chain. This is due to the growing demand for lightweight fiberglass with greater strength.

The market is expected to be driven by the rising demand for a variety of woven fabrics, including plain, basket, twill, satin, and leno, that meet the needs of industrial applications in terms of flexibility and strength. The development of the market has also been aided by the modernization of technologies to fulfil the technical specifications of various grades of fiberglass fabrics that are industry-specific.

According to Fact.MR, a market research and competitive intelligence provider, expanding at a CAGR of 7.2%, the global fiberglass fabric market is projected to reach US$ 20.69 billion by 2032.

Fiberglass fabric market forecast by Fact.MR

Which Factors are Shaping the Fiberglass Fabric Market?

“Rising Demand for High-performance Materials for Production of Electronic Goods”

The main reason fueling the expansion of the fiberglass fabric market is the rising global demand for high-performance materials for the production of electronics and high-end goods. The market for fiberglass fabrics will expand as a result of the rising demand for this material for thermal insulation applications, particularly in power plants.

Additionally, governments programmes to support clean energy and new & future power projects around the world will lead to an increase in demand for fiberglass fabrics. Furthermore, rising global demand for printed circuit boards would support market growth for fibreglass fabrics.

“High Manufacturing & Raw Material Cost May Hamper Fiberglass Fabric Sales Growth”

High production costs, however, can limit the market expansion for fiberglass fabrics. Additionally, shifting raw material costs could have a big impact on the industry.

An Adaptive Approach to Modern-day Research Needs

Which Sector Can Be Beneficial for New Entrants to Boost their Market Share?

“High Investments in R&D & Advancements in Technologies to Doors for New Players to Explore Opportunities in Military & Aerospace Sector”

Due to its high tensile and compressive strength properties, fiberglass is employed in both the military and commercial aerospace industries to produce products including test equipment, ducting, and enclosures.

They are also commonly utilized in aircraft to increase flight range, increase fuel efficiency, and reduce weight (up to 20% less than aluminium). China is a rapidly expanding market in terms of production and consumption.

Furthermore, during the projection period of 2022 to 2032, the market players will have lucrative opportunities due to the development of new technologies to enhance product quality for high-tech aerospace, defense, and electronics applications.

The market for fiberglass fabrics will continue to expand in the future as a result of market participants' increasing R&D efforts.

  • A US$ 246 million investment enabled Jushi India Fiberglass, a subsidiary of China's Jushi Group, to establish a fiberglass production facility in Maharashtra, India, in December 2018.

Which Regional Market is Progressing at the Fastest Pace?

“Asia Pacific Fiberglass Fabric Market Expanding Rapidly in Terms of Production & Consumption”

Over the forecast period, North America is anticipated to dominate the fiberglass fabric market and expand at a strong CAGR. In 2022, North America is expected to account for 24.6% of the global market share.

Due to growing regulatory pressure and increased investment in the renewable energy sector, which led to an increase in demand for fibreglass fabrics, Europe is currently the second-largest market for fibreglass fabrics. Over the forecast period, it is predicted that Europe market for fibreglass fabrics will experience significant growth. Europe is likely to hold 21.3% of the global market share, in 2022.

In terms of production and consumption, the Asia Pacific region dominates the world market for fiberglass fabrics.

Due to the existence of significant manufacturing players and primarily because of the expanding end-use sectors, such as electronic, wind energy, automotive, and high-end products, among others, China, Japan, and South Korea are predicted to lead the fiberglass fabric market in the Asia Pacific region.

Asia Pacific is anticipated to continue to be the largest market for fiberglass fabrics and is expected to expand at a strong CAGR over the forecast period.

Additionally, the fiberglass fabric market in Latin America and the Middle East and Africa (MEA) is anticipated to expand slowly over the projected period.

Which Fabric Type is Highly Preferred in This Market Space?

“High Performance, Durability, & Chemical Resistance Qualities Driving Sales of Woven Fabrics”

With various treatments and coatings, fibreglass fabric is available in woven and non-woven formats and offers great durability, chemical and fire resistance, and toughness.

The cloth can be woven using a variety of patterns, including plain, basket, unidirectional, leno, satin, and twill weave, although plain weaving is most frequently employed since it is straightforward and provides a high level of strength for the woven fabric.

The fiberglass fabric market is predicted to be dominated by the woven segment. Performance-wise, woven fiberglass fabric is superior to non-woven varieties. It can offer several structural benefits and is made from chopped strand mats.

Non-woven fiberglass fabric is a soft, strong non-woven fabric with a high rip strength that is mostly used in construction for ceiling and wall coverings to prevent fractures.

It has high tensile strength, is chemically inert and non-toxic, and provides natural ventilation. The building sector has a high demand for such fabric types as a result.

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Competitive Landscape

There are a disproportionately large number of producers and service providers in the market, and the market is extremely fragmented. A key element in fostering competition among market participants is the development of innovative products and a strong distribution network for those products.

Manufacturers are compelled to innovate and uphold product quality standards by the growing demand for premium fabrics with exceptional strength and lightweight properties.

Large manufacturers and distributors have long-term supply agreements in place to guarantee raw material availability and preserve consistency in product offerings.

  • To solidify its position as a market leader in the non-woven and wind energy, high-modulus glass, and specialty fabrics sectors, Owens Corning purchased Ahlstrom's glass non-woven and fabrics operations in January 2016.
  • In June 2018, Owens Corning and Chongqing Polycomp International Corp. (CPIC) signed a strategic cooperation and supply contract for collaborative technological investment and the development and operation of a new facility in China by CPIC for the production of high-modulus glass fiber products.

Key Segments Covered in Fiberglass Fabric Industry Research

  • Fiberglass Fabric Market by Type :

    • Woven Fiberglass Fabric
    • Non-woven Fiberglass Fabric
  • Fiberglass Fabric Market by Category :

    • E-class Fiberglass Fabric
    • S-class Fiberglass Fabric
    • Others Fiberglass Fabric
  • Fiberglass Fabric Market by Application :

    • Electronics
    • Electric
    • Defense
    • Wind Energy
    • Others
  • Fiberglass Fabric Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global fiberglass fabric market is estimated to expand at 7.2% CAGR through 2032.
Global sales of fiberglass fabric are predicted to reach US$ 20.69 billion by 2032.
North America accounts for 24.6% of the global market share.
The market share of the top 3 countries is 37.9%.

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