According to a new market report published by Lucintel, the future of the global
glass fiber roving market looks promising with opportunities in the construction, pipes and tanks, transportation, electrical & electronics, wind energy, consumer goods, and marine industries. The global glass fiber roving market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $3.7 billion by 2025 with a CAGR of 2%-4% from 2019 to 2025. The major drivers for this market are increasing demand for lightweight materials in the transportation industry, corrosion and chemical resistance materials demand in construction and pipe & tank industry, electrical resistivity and high flame retardant materials demand in electrical and electronics industry.
In this market, E-glass, S-glass, and C-glass glass fiber rovings are used for manufacturing of glass fiber reinforced plastic parts for various end use industries. Lucintel forecasts that E-glass will remain the largest fiber type segment by value and volume due to growth in construction, automotive, and pipe & tank industries.
Within the global glass fiber roving market, construction will remain the largest end use industry due to growth in residential and commercial construction. The transportation market is expected to witness the highest growth in terms of glass roving consumption because government regulations, such as CAFE Standards in the US and carbon emission targets in Europe are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight.
Multi-end roving is the major product form of glass fiber used to manufacture composites parts. Multi-end roving glass fiber is commonly used in the transportation, construction, and marine end use industries.
Asia Pacific will remain the largest region by value and volume. Asia Pacific is also expected to witness the highest growth over the forecast period because of growth in construction, transportation, and the pipe and tank segments. Growing economy, growth in population, and urbanization are the major forces that driving the construction segment, especially in China and India.
An emerging trend, which has a direct impact on the dynamics of the industry, includes increasing focused on high tensile modulus glass fiber roving. Owens Corning, Jushi, Nippon Electric Glass, Taishan Fiberglass, Chongqing Polycomp International Corporation (CPIC), Taiwan Glass Group, Johns Manville, Sichuan Weibo. Co., Ltd., 3B the Fibre Glass Company, and Nitto Boseki are the major manufacturers of glass fiber rovings.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global glass fiber roving market by end use industry, fiber type, product type, reinforcement type, manufacturing process, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Glass Fiber Roving Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global glass fiber roving market by end use industry, fiber type, product type, reinforcement type, manufacturing process, and region as follows:
By End Use Industry [$M shipment and Volume (M lbs) analysis for 2014 – 2025]:
Construction
Pipes and tanks
Transportation
Electrical and Electronics
Wind Energy
Marine
Consumer Goods
Others
By Fiber Type [$M shipment and Volume (M lbs) analysis for 2014 – 2025]:
E-glass
Others (S-Glass, C-Glass )
By Product Type [$M shipment and Volume (M lbs) analysis for 2014 – 2025]:
Single End Roving
Multi End Roving
Woven Roving
By Processing Resin Type [$M shipment and Volume (M lbs) analysis for 2014 – 2025]:
By Composites Manufacturing Process [$M shipment and Volume (M lbs) analysis for 2014 – 2025]:
Filament Winding
Spray up
Hand lay up
Compression molding
Injection molding
Pultrusion
Others
By Region [$M shipment and Volume (M lbs) analysis for 2014 – 2025]:
North America (US, Canada, Mexico)
Europe (Germany, France, Italy, Spain, and the UK)
Asia Pacific (China, Japan, India, South Korea)
Rest of the World ( Brazil, Middle East
This 220 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 visit us at
helpdesk@lucintel.com.
About Lucintel
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global glass fiber roving market by end use industry (construction, pipes and tanks, transportation, electrical & electronics, wind energy, marine, consumer goods and others), fiber type (E-glass and others), product (single end roving, multi end roving and woven roving), processing resin type (thermoset and thermoplastic), Composites manufacturing process (filament winding, hand lay up, spray up, pultrusion, injection molding, compression molding, and others), region (North America, Europe, Asia Pacific, and Rest of the World) and by country (the USA, Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, Middle East and Brazil)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the global glass fiber roving market?
Q.5 What are the business risks and threats to the global glass fiber roving market?
Q.6 What are emerging trends in the global glass fiber roving market and the reasons behind them?
Q.7 What are some changing demands of customers in the global glass fiber roving market?
Q.8 What are the new developments in the global glass fiber roving market? Which companies are leading these developments?
Q.9 Who are the major players in the global glass fiber roving market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the global glass fiber roving market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the global glass fiber roving market?