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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