According to a new market report published by Lucintel, the future of the glass fiber textile market looks good with opportunities in electrical & electronics, wind energy, construction, and marine. The global glass fiber textile market is forecast to grow at a CAGR of 5.2% from 2015 to 2020. The major driver for market growth is the rise in demand for end products, such as printed circuit board (PCBs), wind turbine blades, pipes and tanks, and boat hulls.
In this market, woven roving, multi-axials, fabric, and continuous filament mat (CFM) / continuous strand mat (CSM) are used for various applications. Lucintel predicts that the demand for CFM/CSM in glass fiber textiles will experience the highest growth in the forecast period, supported by growing demand in end-use industries. On the basis of its comprehensive research, Lucintel forecasts that construction and marine industries will show above average growth during the forecast period.
Within the glass fiber textile market, the electrical & electronics industry is expected to remain as the largest market by value and the second largest market by volume consumption after wind energy. Growth of the printed circuit boards (PCBs) in the electrical & electronic industry is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the growth in end use industries, such as electrical & electronics and wind energy. Asia Pacific and North America are expected to grow significantly over the forecast period because of the recovery of the wind energy industry in North America and Asia Pacific. A high demand for PCBs in the Asia Pacific market is also driving the growth.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of glass fiber textiles can be capitalized.
An emerging trend, which has a direct impact on the dynamics of the industry, is the high performance textiles for wind energy and thinner textiles for PCB applications. Owens Corning, SAERTEX, CPIC Fiberglass, Jushi Group, and Taishan Fiberglass are among the major suppliers of glass fiber textiles. Some companies are opting for merger and acquisition as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities for glass fiber textiles in the global market by application, product form, and region and has come up with a comprehensive research report, “Growth Opportunities in Global Glass Fiber Textiles Market 2015–2020: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a springboard for the growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for glass fiber textile in the global market through 2020, segmented by application, product form, and region as follows:
By Application [volume (million pounds) and value ($ million) from 2009 to 2020]-
· Marine
· Wind Energy
· Aerospace/Defense
· Construction
· Electrical/Electronics
· Others
By Product Form [volume (million pounds) and value ($ million) from 2009 to 2020]-
· Woven Roving
· Multi-Axials
· Fabric
· CFM/CSM
By Region [volume (million pounds) and value ($ million) from 2009 to 2020]-
· North America
· Europe
· Asia Pacific
· Rest of the World
This 212-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/reports/chemical_composites/growth_opportunities_in_the_global_glass_fiber_textiles_market_2015_2020_trends_forecast_and_opportunity_analysis_march_2015.aspx or helpdesk@lucintel.com.
About Lucintel
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