Fiberglass Roving Market is expected to grow at a robust CAGR
Fiberglass Roving Market is expected to grow owing to increasing
demand from wind energy projects, pipes and tanks throughout the forecast
period.
According to TechSci Research report, “Fiberglass Roving Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast 2018-2028”, the Global Fiberglass Roving
Market is expected to register robust
growth during the forecast period. The growing adoption of fiberglass in the production of aircraft body
parts and automobiles, attributed to its lightweight properties and high
strength, is expected to contribute significantly to market expansion.
Moreover, the extensive utilization of fiberglass in the construction and
building industry for composite and insulation applications is projected to
drive further market growth throughout the forecast period.
In the pursuit of enhancing fuel efficiency and reducing emissions, the
automotive industry continues to prioritize lightweighting. This emphasis
presents a significant opportunity for fiberglass roving. Lightweight
composites, reinforced with fiberglass roving, can be effectively employed in
various automotive components, ranging from body panels and interiors to
under-the-hood parts. With the ongoing transition to electric and hybrid
vehicles, the demand for lightweight materials is further amplified to extend
the driving range. Fiberglass roving manufacturers have the potential to
collaborate with automakers in developing tailored solutions that precisely
align with their lightweighting objectives.
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Based on type, the E segment is expected to dominate the market during the forecast
period. E-glass fibers possess commendable tensile strength and stiffness,
rendering them suitable for reinforcing composite materials utilized in
structural components across diverse industries such as construction,
automotive, and aerospace. Within the aerospace sector, E-glass composites find
utility due to their unique combination of lightweight properties and
mechanical strength. They are extensively employed in aircraft interiors,
structures, and components where weight reduction is of utmost importance. Owing
to its remarkable electrical insulation properties, E-glass is widely applied
in electrical insulators, printed circuit boards, and electrical cables. With
the escalating demand for electronic devices and the ongoing trend of component
miniaturization, E-glass continues to find widespread application in this
sector.
Manufacturers are progressively customizing E-glass fibers to cater to
specific industry requirements. Surface treatments, sizing, and modifications
can substantially enhance E-glass's compatibility with various resin systems
and improve its adhesion properties. Furthermore, research and development
efforts are dedicated to advancing the performance of E-glass composites in
high-temperature and extreme environments. In conclusion, the E-glass segment
of the global fiberglass roving market offers a multitude of opportunities and
applications across an array of industries, including construction, automotive,
aerospace, and electrical electronics. Despite facing competition from advanced
fibers, E-glass persists as a versatile and cost-effective choice for numerous
applications. Ongoing research and customization endeavors continue to augment
its performance and expand its scope.
Based on end user, Construction segment is projected to dominate the
market throughout the forecast period. The utilization of fiberglass roving in
construction materials can significantly enhance energy efficiency. It
facilitates the enhancement of thermal insulation, thereby reducing the energy
required for heating and cooling buildings. With the increasing stringency of
energy efficiency regulations, fiberglass roving has become an indispensable
component in the realm of green building practices. In addition to its
application in lightweight concrete, fiberglass roving is integrated into
specialized lightweight materials employed in construction. These materials
encompass insulation boards, fire-resistant materials, and lightweight
structural components. They offer enhanced energy efficiency and fire
resistance properties, aligning with the construction industry's paramount
goals of sustainability and safety. Composite panels fortified with fiberglass
roving reinforcements are progressively being employed in the construction of
facades, walls, and roofing systems. These panels provide a combination of
strength, insulation, and design flexibility. The continuous advancements in
panel manufacturing and installation techniques are driving their widespread
adoption in both commercial and residential construction. By contributing to
sustainable construction practices, fiberglass roving plays a pivotal role in
improving energy efficiency and reducing the consumption of primary materials.
As the construction industry increasingly prioritizes sustainable building
solutions, fiberglass roving is poised to assume a crucial position in
achieving these objectives.
Key market players in the Global Fiberglass Roving Market are:-
- Taiwan Glass Industry Corporation
- PFG Fiberglass Corporation
- Reliance Industries
- Nitto Boseki Co. Limited
- China National Building Material Company Limited
- Nippon Electric Glass Co Ltd
- Saint-Gobain Vetrotex
- Binani Industries Ltd
- AGY Holding Corporation
- Johns Manville Corporation
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“The Fiberglass Roving Market in North America is poised to be the
dominant force in the industry. In the Asia Pacific region, manufacturers of
fiberglass roving are increasingly providing tailored solutions to meet the
specific demands of industries such as automotive, wind energy, and
construction. This growing trend of customizing products to suit local industry
requirements reflects the dynamic and expanding market for fiberglass roving in
the region, driven by the construction, automotive, wind energy, and marine
sectors.”said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Fiberglass Roving Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented By Type (E, ECR, H, AR and S), By Product
(Single-end, Multi-end and Chopped), By End User (Transportation, Construction,
Electrical & Electronics, Pipe & Tank and Others), By Region, By
Competition Forecast & Opportunities, 2018-2028,” has evaluated the future
growth potential of Global Fiberglass Roving Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Fiberglass Roving Market.
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