Market Insights
Glass fiber textiles have ubiquitous dominance with more than 90% share of the overall composite textiles market in 2022 in terms of volume. It is best suitable for a pool of applications such as boat hulls, wind blades, automotive body panels, rail partitions, and architectural decorative parts. Owing to excellent dielectric properties and better thermal and chemical resistant properties, the demand for glass fiber textiles is mushrooming in all the major composite markets. Glass fiber textiles have come to the light as one of the strongest textiles due to their specific tensile strength as compared to steel wire. Growing demand across the major industry verticals, such as wind energy, automotive, construction, pipe & tank, and automotive, is likely to create a healthy demand in the coming years.
The long-term outlook for the glass fiber textiles market seems promising with an increase in the demand for wind turbines, recreational boats, and PCBs. Furthermore, the ongoing rebound in the demand for automobiles, construction, and pipe & tank is giving an additional impetus to the demand for glass fiber textiles. It is estimated that the market is likely to expand at a CAGR of 6.6% to reach a value of US$ 8.1 Billion in 2028.
Recent Product Developments:
- In 2020, China Jushi launched E9 ultra-high modulus fiberglass to support the development of large-scale and lightweight wind turbine blades. It has applications in wind power, infrastructure, transportation, aviation, space, etc., such as large wind blades, fiber optic cable reinforcement, aircraft parts, automobile manufacturing, temperature-resistant materials, and sports equipment.
- ZeroTwist® by Saint Gobain is used in lightweight constructions for wind energy and can be integrated into multiple wind energy applications. It is used to manufacture longer and more efficient rotor blades for larger wind turbines in a cost-effective way.
Recent Market JVs and Acquisitions: The overall composites business has recorded a fair number of M&A activities in the past few years. among several noticeable ones, the major one related to glass fiber textiles was, in 2021, Vitrulan acquired the textile glass business of PD Industriegesellschaft mbH Glasfaser Brattendorf. The acquisition significantly increased the existing production capacity of Virtulan in the area of (glass fiber) wall coverings.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Textile-Type Analysis
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Woven Roving, Woven Yarn, Multi-Axials, Continuous Stand Mat/Continuous Filament Mat, Chopped Strand Mat, and Preforms
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Woven yarn is anticipated to maintain its lead during the forecast period.
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Industry-Type Analysis
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Aerospace & Defense, Marine, Transportation, Construction, Consumer Goods (Sports/Leisure), E&E, Pipe & Tanks, Wind Energy, and Others
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E&E is anticipated to be the largest market for glass fiber textiles in the coming five years, whereas wind energy is likely to be the fastest-growing segment during the same period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific is expected to remain the largest and fastest-growing market over the next five years.
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Based on the textile type, the market is segmented into woven textiles, woven yarn, multi-axials, CFM/CSM, chopped strand mats, and preforms. Woven yarn is anticipated to maintain its lead during the forecast period. Huge dominance of woven yarn in the electrical & electronics and transportation industries, owing to its better control over strength, thickness, and weight as compared to conventional product types. PCB laminate is one of the key application areas where glass fiber yarns are used in the wake of impressive corrosion resistance, thermal conductivity, dielectric, and lightweight properties.
Based on the industry type, the market is segmented into aerospace & defense, marine, transportation, construction, consumer goods (sports/leisure), E&E, pipe & tanks, wind energy, and others. Electrical & Electronics (E&E) is anticipated to be the largest market for glass fiber textiles in the coming five years, whereas wind energy is likely to be the fastest-growing segment during the same period. Glass fiber textiles can go through more elongation before they break as compared to the competing materials, making this unique material preferred in the electrical & electronics (E&E) and transportation industries. Wind energy also accounts for a sizeable demand in the market.
Asia-Pacific to maintain its leading position market for glass fiber textiles during the forecast period, driven by the electrical & electronics, and automotive industries. The region is also likely to log the highest growth during the forecast period in the wake of the enormous investment in wind energy, the huge dominance of China, Japan, and South Korea in the electrical & electronic industry, and a manufacturing hub of the transportation and construction sectors. China acts as the growth engine with Japan and India being other key markets in the region.
Key Players
The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the glass fiber textiles market. Most of the major players are providing complete profile systems including profile seals.
- Owens Corning
- Zhenshi Holding Group Co., Ltd
- SAERTEX GmbH & Co. KG
- PGTEX China Co., Ltd.
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s glass fiber textiles market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
The glass fiber textiles market is segmented into the following categories.
Glass Fiber Textiles Market, by Textile Type
- Woven Roving (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Woven Yarn (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Multi-Axials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Continuous Stand Mat/Continuous Filament Mat (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Chopped Strand Mat (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Preforms (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Glass Fiber Textiles Market, by Industry Type
- Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Consumer Goods (Sports/Leisure) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- E&E (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Pipe & Tanks (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Glass Fiber Textiles Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Spain, Italy, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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