Fiberglass Roving Market Trends

  • Report ID: 3543
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Fiberglass Roving Market Trends

Growth Drivers

  • Dynamic Properties that Make Fiberglass Roving to be Used in Various Verticals - Fiberglass is thought to be the backbone of the composites industry. It has been used in a variety of composite applications for decades, and its physical properties are very well comprehended in the industry. It is lightweight, has moderate tensile strength, and is easier to handle. For instance, the main component of all fiberglass is silica (SiO2), but the addition of other oxides such as Al2O3, B2O3, CaO, and so on allows for modification of the glass fiber properties and performance.
  • Surge in Electronics Industry – For instance, since mid-2020, the global electronics industry indicated strong growth. South Korean ICT exports have increased by 19 percent year on year to USD 122 billion during the first six months of 2022, contributing 37% of total South Korean exports. South Korean semiconductor exports increased by nearly 22% year on year, reaching around USD 71 billion. Whereas, in the first six months of 2022, semiconductor exports in Japan increased by nearly 17% year on year.
  • Significant Escalation in Transportation Industry - By 2027, the global transportation industry is expected to be worth around USD 7.5 trillion.
  • Upsurge in Insulating Applications - In July 2022, China's insulated wire or cable export increased to USD 2351215, up from USD 2375490 in June 2022.
  • Increase in Aerospace and Defense Manufacturing – For instance, in 2021, the aerospace and defense manufacturing industry have expanded by around 7.7%, and it’s estimated to see an expansion of around 25% in the year 2022.

Challenges

  • Difficulties in Recycling Glass Wool - Recycling is essential to lessen the bad effects on the environment, as well as to cut back on disposal expenses and the production of raw materials. According to Glass Fiber Europe, the production of glass fibers and the resin used in the matrix requires between 13 and 45 MJ/kg and 76 and 137 MJ/kg of energy each, with additional fossil fuel usage and significant environmental effects.
  • Health Risks Coupled with Fiberglass
  • Stringent Policies of Government

Fiberglass Roving Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

8.1%

Base Year Market Size (2024)

USD 15.34 million

Forecast Year Market Size (2033)

USD 41.8 million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Browse Key Market Insights with Data Illustration:


Author Credits:  Abhishek Verma


  • Report ID: 3543
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of fiberglass roving is estimated at USD 16.33 million.

The fiberglass roving market size was over USD 15.34 million in 2024 and is expected to cross USD 41.8 million by the end of 2037, witnessing more than 8.1% CAGR during the forecast period i.e., between 2025-2037. Dynamic properties that make fiberglass roving to be used in various verticals, surge in electronics industry, and significant escalation in transportation industry will drive the market growth.

Asia Pacific is projected to hold largest industry share by 2037, backed by escalating investment for infrastructure, especially in countries, such as China, Bhutan, Vietnam, and India among others, and for the increasing demand for fiberglass roving across varied end-use industries.

The major players in the market include Owens Corning, China Jushi Co., Ltd., Johns Manville, Saint-Gobain Vetrotex, Taishan Fiberglass Inc., (CTG), Nippon Electric Glass Co., Ltd, AGY Holding Corp., Taiwan Glass Industry Corporation, China Beihai Fiberglass Co., Ltd, Binani Industries Ltd.
Inquiry Before Buying Request Free Sample
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample