According to a market report by Lucintel, the future of the global glass fiber market looks promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy. The global glass fiber market is expected to reach an estimated $14 billion by 2031 with a CAGR of 4% from 2024 to 2031The major drivers for this market are the rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
A more than 150-page report to understand trends, opportunity and forecast in glass fiber market to 2031 by
Lucintel forecasts that construction will remain the largest end use industry by value and volume due to growing infrastructure development and rising demand for energy-efficient buildings. Aerospace is expected to witness highest growth over the forecast period.
Single end roving will remain the largest product type by volume over the forecast period.
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Asia Pacific is expected to remain the largest region by value and volume over the forecast period because of growth in construction, pipe and tanks, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India and it is also expected to witness the highest growth over the forecast period.
Praana Group, Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Taishan Fiberglass Inc., Taiwan Glass Group, Nippon Electric Glass Co. Ltd., Sichuan Weibo. Co. Ltd, Johns Manville Corporation, Nitto Boseki Co. Ltd are the major suppliers in the glass fiber market.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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