28-May-2021 | Facts and Factors
As per the market research report published by Facts and Factors, the global e-glass fiber market was valued at USD 8.60 Billion in 2020. This market is further expected to generate revenue of around USD 13.02 Billion by end of 2026, growing at a CAGR of around 7.15% between 2021 and 2026.
E-glass fiber is an industrial material developed on large scale owing to its insulating properties. It is currently being used in electrical appliances and other electrical applications. E-glass fiber is the primary ingredient in the production of fiberglass. Fiberglass is gaining a lot of popularity compared to polymer and carbon fiber due to its low cost and mechanical properties. The use of e-glass fibers is increasing due to the intricacy in the fiber woven in the product and low manufacturing cost.
A wide range of e-glass fiber-based applications, low-cost implementation than other types of fibers, and advancements in technology over the years will drive the growth of the market over the forecast period. Additionally, the latest requirements in the defense and aerospace sector during the forecast will further propel the growth of the market. The trend of developing advanced glass fibers for the wind energy market is expected to provide a new opportunity for the manufacturers.
The products rising demand in the construction and automotive industry is expected to lead the fiberglass market growth majorly. Use of e-glass fiber for insulation purposes coupled with the growing renewable source of energy offers new opportunities for the e-glass fiber market. In addition to this, the use of advanced glass fibers in wind energy industry will further boost the market. One of the major advantages of the product is its corrosion-resistant property that helps it withstand harsh temperature and conditions and thereby, make it the most preferred product for the manufacturers developing fiberglass integrated essential manufacturing components. Moreover, the advancements taking place in the wastewater treatment plants and oil & gas sector help boost the market. The e-glass fiber market growth is augmented also due to the growing demand for high-performance glass fibers for the construction of light weight automobiles and aircrafts. The growing trend of replacing heavy metal components used in the aerospace, automotive, and marine sector with lightweight e-glass fibers further drive the market growth. Stringent government regulations and rising awareness over renewable energy also propel the e-glass fiber market growth.
However, the changing prices of the raw material, production challenges, and latest technologies cost-intensive nature are the major factors anticipated to restrain the growth of the global e-glass fiber market during the forecast period.
Top Market Players
The key players in the e-glass fiber market are Vetrotex, Lanxess, Johns Manville, Sichuan Weibo New Material Group, Ahlstrom, and PPG Industries, among others.
On the basis of types, the global e-glass fiber market can be divided into general-purpose glass fiber and special-purpose glass fiber.
Based on application, the global e-fiber market can be broken down into construction, transportation, industrial, consumer, and wind. In the global e-glass fiber market, the transportation category holds the largest share due to the stringent government regulations including carbon emission goals in Europe and US CAFÉ Standards. Furthermore, the pressure put on OEMs to produce lightweight parts for reducing the weight of the vehicles are projected to drive this category.
North America Is Expected To Recoup The Largest Market Share During The Forecast Period
North America is expected to witness the largest market share during the forecast period in terms of global revenue. The growing advancements in the construction and automotive industry in the U.S. is projected to fuel the market growth in this region. Furthermore, the increasing popularity of e-glass fiber in the aerospace and defense sector will fuel the global e-glass fiber market during the forecast period.
Asia-Pacific is expected to exhibit highest growth during the forecast period rising demand in various applications such as automotive and electrical industry regions like China, India, and Japan. Additionally, the booming construction and transportation industry also helps fuel the market. The high disposable income, growing population, and modernization are other factors likely to boost the global e-glass fiber market in this region.
Browse the full “Global E-Glass Fiber Market: By Types (General-Purpose Glass Fiber & Special-Purpose Glass Fiber), By Application (Construction, Transportation, Industrial, Consumer, & Wind), and By Regions - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/e-glass-fiber-market
The global e-glass fiber market can be segmented on the basis of:
Global E-Glass Fiber Market: By Types Segment Analysis
Global E-Glass Fiber Market: By Application Segment Analysis
Global E-Glass Fiber Market: By Regional Segment Analysis
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