Fiberglass Roving Market

Market outlook: 

Fiberglass Roving Market is expected to grow from $11.4 billion in 2023 to $20.7 billion by 2032, reflecting a compound annual growth rate (CAGR) of approximately 10.43%. This growth curve indicates the increasing demand and adoption of fiberglass in various industries due to factors such as increasing construction activity, increasing demand for lightweight and durable materials in the automotive and aerospace industries, and advances in manufacturing technologies. The market expansion is also supported by the increasing applications of fiberglass in infrastructure development, wind energy projects and marine industries worldwide.

This outlook highlights significant opportunities for market participants, including manufacturers, suppliers and investors, to capitalize on the growing demand for fiberglass over the next decade. It also emphasizes the importance of innovation and strategic technology investments to meet changing consumer preferences and regulatory requirements and thus maintain market growth and competitiveness.

Fiberglass Roving Market

Size, by Product, - (USD Billion)

E-Glass Roving

S-Glass Roving

AR-Glass Roving

Other Products

The Market will Grow

At the CAGR of:

10.43%

The Forecast Market

Size for in USD:

$20.7 billion

Key players:

1. Owens Corning

2. Johns Manville

3. PPG Industries

4. Saint-Gobain

5. Nippon Electric Glass

6. Taishan Fiberglass Inc.

7. Chongqing Polycomp International Corp. (CPIC)

8. AGY Holding Corp.

9. Jushi Group Co., Ltd.

10. Taiwan Glass Ind. Corp.

11. Ashland Global Holdings Inc.

12. Binani 3B-The Fibreglass Company

13. Knauf Insulation

14. Chomarat Group

15. Toray International, Inc.

16. Ahlstrom-Munksjö

17. Nitto Boseki Co., Ltd.

18. China Beihai Fiberglass Co., Ltd.

19. Sisecam Group

20. Chomarat Textile Industries

Recent Developments:

09/02/2024 TOLEDO, Ohio--(BUSINESS WIRE)- Owens Corning (NYSE: OC), a global building and construction materials leader, announced that the company has decided to review strategic alternatives for its global glass reinforcements (GR) business. The decision to explore alternatives for the GR business is consistent with the company’s strategy to focus on building and construction materials. The business, which operates within the company’s Composites segment, manufactures, fabricates, and sells glass fiber reinforcements in a variety of product forms.

Oct. 24, 2023 International Glass Artist Blends Illusion and Reality Using Johns Manville Materials. Recently, a world-renowned glass artist launched a months-long exhibition of unique artwork fabricated using JM fiberglass. Klaus U. Hilsbecher from Dusseldorf, Germany, is exhibiting work at the Glass Museum in Wertheim, featuring his unique creations made from JM materials. The exhibition explores the interplay between appearance and reality in art, inviting visitors to immerse themselves in the world of experimental glass art.

Fiberglass Roving Market

Share, by end user, (USD Billion)

11.4 billion%

Automotive

Construction

Aerospace

Marine

Other End-Users

20.7 billion

Total Market Size

USD (Billion),

10.43%

CAGR

-

Market segmentation:

By Type:

E-Glass Roving: A standard type of fiberglass roving known for its excellent mechanical strength and electrical insulation properties, widely used in various industries.

S-Glass Roving: Offers higher strength and stiffness compared to E-Glass, making it suitable for applications requiring superior mechanical performance, such as aerospace.

AR-Glass Roving: Alkali-resistant fiberglass roving designed to withstand exposure to alkaline environments, commonly used in applications like construction and chemical industries.

By Application:

Composites: Utilized in the production of fiberglass reinforced plastics (FRP), used extensively in automotive, construction, marine, and other industries for lightweight and durable components.

Insulation: Used for thermal and acoustic insulation in buildings, industrial equipment, and appliances due to its heat resistance and sound absorption properties.

Textiles: Reinforces fabrics and textiles for various industrial applications including protective clothing, filtration systems, and specialty fabrics.

Electronics: Used in electrical insulation applications and for reinforcing materials in printed circuit boards (PCBs) due to its dielectric properties and strength.

By End User:

Automotive: Utilized in vehicle components to reduce weight, improve fuel efficiency, and enhance performance.

Construction: Reinforces concrete structures, panels, and insulation materials to improve durability and strength.

Aerospace: Provides lightweight structural components for aircraft and spacecraft, contributing to fuel efficiency and performance.

Marine: Used in hulls, decks, and other structural components of boats and ships for strength and durability in marine environments.

Wind Energy: Essential for manufacturing wind turbine blades and components, providing strength and reliability to withstand harsh environmental conditions.

By Distribution Channel:

Direct Sales: Manufacturers selling directly to end-users or large consumers, ensuring control over product quality and customer relationships.

Distributors: Companies specializing in distribution and logistics, supplying fiberglass roving to various industries through established networks.

Online Retail: Increasing trend of purchasing fiberglass roving through online platforms, providing convenience and accessibility for smaller consumers and niche applications.

Fiberglass Roving Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

10.43%

The Forecast Market

Size for in USD:

$20.7 billion

Regional Analysis:

North America is emerging as the dominant Fiberglass Roving Market:

North America is emerging as the dominant Fiberglass Roving Market , driven by advanced manufacturing capabilities, strict regulatory standards and high demand in key industries. The region's strong automotive industry makes extensive use of fiberglass in lightweight components that improve fuel economy and vehicle efficiency. In addition, the North American construction industry benefits from the strength and durability of fiberglass in applications such as reinforced concrete structures and insulating materials. The aerospace industry also relies on fiberglass for its high-performance aircraft components. In addition, the region's commitment to innovation and technological development supports continued growth in fiberglass applications, particularly in electronics and renewable energy such as wind power. With an established market infrastructure and a strong focus on sustainable development, North America remains at the forefront of fiberglass production and consumption, influencing global market trends and standards.

Porter’s Analysis:

1.Competitive Competition:

There is moderate to intense competition in the fiberglass migration market. Major players such as Owens Corning, Johns Manville and Saint-Gobain dominate the market with established brands, extensive distribution networks and technological expertise.

2.Risk of new market entry:

The risk of fiberglass market is moderate. Entering the market is hindered by the large initial capital investments required for production facilities, research and development, and distribution channels. In addition, strict regulatory requirements and the need for special technical expertise in fiber processing and composite production hinder new market entries.

3.Threat of substitution:

The threat of substitution in the fiberglass travel materials market is relatively small. Fiberglass has unique properties such as high strength-to-weight ratio, corrosion resistance and electrical insulation properties that are difficult to replicate with alternative materials.

4.Supplier Bargaining Power:

Suppliers of raw materials for fiberglass production have moderate bargaining power. Raw materials such as silica sand, alumina and other chemicals are important in the production of glass fibers. The ability of suppliers to influence prices and the availability of supplies depends on the dynamics of world markets, the procurement of raw materials and the degree of utilization of production capacity.

4.Buyer Bargaining Power:

The bargaining power of buyers in the fiberglass travel products market varies by industry, but is generally moderate. Major automakers, construction companies, and wind turbine manufacturers have significant purchase volumes, which gives them some leverage in negotiating prices and contract terms with fiberglass filament suppliers.

Key Benefits to Stakeholders:

• Fiberglass Roving Market market analysis includes in-depth information on major industry players.
• Porter's five forces analysis helps to analyze the potential of buyers and suppliers and the competitive situation of the industry in strategy formulation.
• The report includes an in-depth analysis of the Fiberglass Roving Market market forecast from 2024 to 2032.
• The report highlights the current global chlorine dioxide trends and the future scenario of the Fiberglass Roving Market market from 2024 to 2032 to understand prevailing opportunities and potential investment pockets.
• Key drivers, restraints, and opportunities along with their detailed impact analysis are explained in the Fiberglass Roving Market market study.

Key Market Drivers:

The main market drivers for the fiberglass travel market are the growing demand across multiple industries driven by the strength, durability and lightweight properties of fiberglass. In the automotive industry, strict fuel efficiency and emission reduction regulations encourage the adoption of fiberglass in light vehicle components, which improves performance without compromising safety. 

The construction industry continues to use fiberglass for its reinforcing properties in concrete and insulating materials, supporting infrastructure development and sustainable construction. In addition, the rapid growth of the wind energy sector is driving the demand for fiberglass in turbine blades, driven by global efforts to expand renewable energy sources. 

Technological advances in fiberglass production and manufacturing processes will further stimulate market growth, improve product efficiency and expand application opportunities in the aerospace, marine and electronics industries. Taken together, these factors highlight the central role of fiberglass cast processing in modernizing the industry and meeting changing consumer and regulatory requirements worldwide.

Fiberglass Roving Market TO (USD BN)

CAGR OF

10.43%

Fiberglass Roving Market

20.7 billion%

Key Opportunities:

There are many keywords in the fiberglass travel market due to a number of factors. First, the growing emphasis on sustainability and environmental regulations is encouraging the industry to use lightweight materials such as fiberglass, especially in the automotive and aerospace industries, where fuel efficiency and emission reduction are critical. Another major opportunity is the expanding global construction industry, where fiberglass is widely used in infrastructure projects due to its durability and strength in reinforced concrete applications. In addition, the growing demand for renewable energy sources such as wind power offers significant opportunities for fiberglass turbine blades due to their lightness and corrosion resistance. In addition, technological advances in fiberglass manufacturing processes and composite materials are opening doors to innovative applications in the electronics, healthcare and sports equipment industries. Capitalizing on these opportunities will require strategic investments in research and development, sustainable manufacturing practices and market expansion strategies to capitalize on the growing global demand for fiberglass casting.

Conclusion:

The fiberglass migration market is expected to grow from USD 11.4 billion in 2023 to USD 20.7 billion by 2032, with a projected CAGR of 10.43%. Factors driving this growth include increasing construction activity, demand for light materials in automotive and aviation industries, and advancements in manufacturing technologies. Key players like Owens Corning, Johns Manville, and Saint-Gobain lead the market with their strong brand presence and technological expertise. Opportunities for growth lie in sustainability trends, expanding applications in construction and renewable energy, and advancements in fiberglass production technologies. Strategic investments in research and development and sustainable practices are crucial for stakeholders to capitalize on these opportunities and stay competitive in global markets. Overall, the fiberglass industry shows significant growth potential fueled by innovation and changing consumer preferences.