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The Impact of the Different Market Factors on Fiberglass Fabric Market

 The global fiberglass fabric market was USD 8.74 Billion in 2016 and is projected to reach USD 13.48 Billion by 2022, at a CAGR of 7.62% between 2017 and 2022.                                                                      

Browse 71 Market Data Tables and 41 Figures spread through 140 Pages and in-depth TOC on "Fiberglass Fabric Market by Fiber Type (E-glass), Fabric Type (Woven, and Non-Woven), Application (Wind Energy, Transportation, Electrical & Electronics, Construction, Marine, Aerospace & Defense), and Region - Global Forecast to 2022"

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Based on fiber type, the E-glass segment in the fiberglass fabric market is expected to grow at the highest CAGR during the forecast period

Based on fiber type, the E-glass fabric market is expected to grow at the highest CAGR during the forecast period. E-glass fabrics were initially developed for electrical wiring applications and gradually gained acceptance in various other major applications such as wind energy, marine, and electrical & electronics, among others. E-glass fibers are cost efficient and offer a wide range of beneficial properties such as corrosion resistance, lightweight, high electrical insulation, and are the majorly used fiber type in the manufacture of fiberglass fabrics.

Wind energy segment to lead the fiberglass fabric market, in terms of value and volume

Fiberglass fabrics are used to reinforce spar caps, webs, and shells of wind turbine rotor blades. From a power generation standpoint, fiberglass fabrics are lightweight and thus enable the production of longer blades for wind turbines. This helps in capturing more wind energy, leading to an increase in power output and provides economy due to the higher wind energy gained.

Asia Pacific is projected to be the largest market for fiberglass fabric

The Asia Pacific is the largest market for the fiberglass fabric due to the growing population and increasing industrialization in the region. Along with China, India and Japan are the major consumers of fiberglass fabric in the region for various applications. The region accounted for the largest wind power capacity of 203,643 MW in 2016. This is expected to drive the fiberglass fabrics market in the region, as leading wind blade manufacturers are increasingly using these fabrics as the major material for the manufacture of composites for wind turbines.

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The major players in the fiberglass fabric market are Owens Corning (US), Gurit (Switzerland), Jushi Group Co., Ltd. (China), Chomarat Textile Industries (France), Saertex GmbH & Co.KG. (Germany), Hexcel Corporation (US), Saint-Gobain Performance Plastics (France), Tah Tong Textile Co., Ltd (China), Auburn Manufacturing, Inc. (US), BGF Industries, Inc. (US), Nitto Boseki Co., Ltd. (Japan), and Taiwan Electric Insulator Co., Ltd. (China), among others. These companies have a high focus on their business strategies and also on their product portfolios. The companies are also focusing on increasing their geographical reach, growth strategies, business revenues, brand images, product offerings, industry coverage and such other factors to strengthen their positions in the global fiberglass fabric market. For instance, BGF Industries, Inc. manufactures woven and non-woven fabrics and serves applications such as aerospace, sporting goods, marine, and others. The company has a strong focus on its product portfolio and has developed new products such as woven co-mingled glass/polypropylene fabric and Aerialite X fabric in June 2016 and September 2013 respectively.

Saertex GmbH & Co.KG (Germany) is a multiaxial fabric provider for the fiberglass fabric market. The company has moderate industry coverage and caters to applications such as wind energy, sports, automotive, construction, and others. It has also undertaken inorganic and organic growth strategies such as acquisitions and new product developments to enhance its position in the global fiberglass fabric market. For instance, in August 2015, the company developed a new thermoplastic non-crimp fabric which has further enhanced its product portfolio.

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