Glass Fiber Roving Market Analysis | 2024-2030

Market Insights

“The Glass Fiber Roving Market size was US$ 11.1 Billion in 2023 and is likely to grow at a decent CAGR of 5.5% in the long run to reach US$ 15.3 Billion in 2030.”

Market Dynamics

Introduction

Glass Fiber Roving is a significant area within the composites business, which comprises a continuous glass filament strand wrapped together for reinforcement usage. This market is in high growth phase owing to demand for light weight, high strength and high-performance design materials for transportation, construction, wind turbines, electrical and electronics sectors. The uniquely customizable characteristic of Glass Fiber Roving combined with the properties like corrosion resistance, high tensile strength and electrical insulation makes this material very valuable and crucial for today’s world manufacturing and buildings. They were driven by the advancement in technology and the need for sustainable and environmentally friendly products with the Glass Fiber Roving market expected to grow significantly in the next few years.

Market Drivers

• The market is driven by the need to cut costs related to fuel consumptions more especially in the ever-growing transport sector.
• Wind energy is an area of development that has attracted a lot of attention lately, particularly the manufacturing of wind turbine blades which must employ high strength and durability.
• Increased construction and infrastructure sector consequently, Glass Fiber Roving due to its numerous benefits such as high levels of corrosion resistance.
• The increasing demand from the electrical and electronics industry due to its fire-resistant electrical insulation capability of Glass Fiber Roving. - Better production processes that arise from technology, developments, and innovations in Glass Fiber Roving and their uses in various applications that are enhanced by the better performance of Glass Fiber Roving.

Challenges

• Cost of production and cost of raw materials which affects the profitability and the pricing strategy of their products.
• Some of the problems associated with Glass Fiber Roving include limited recycling and environmental disposal.

Segments Analysis

By Fiber Glass Type

E-glass is anticipated to contribute a major share and S-glass fiber is likely to grow at the fastest rate in the forecasted period.

• Based on glass fiber, the Glass Fiber Roving market is classified into E-glass, ECR-glass, H-glass, AR-glass, S-glass, and others.
• S-glass fiber is the fastest growing since it has better properties as compared to other glass fibers.
• E-glass fiber was the largest consumed in 2023 owing to its lower cost and properties such as corrosion resistance, low density, good electrical insulation, and average tensile strength.
• Electrical & electronics and transportation industries are the key drivers of the E-glass Glass Fiber Roving market.
• This market has the potential to grow in the forecast period owing to its usage in these industries.

By Product Type

“Single-end is expected to remain the dominant and fastest-growing product type in the market during the forecast period”.

• The market for Glass Fiber Roving is categorized based on product types such as single-end roving, multi-end roving, and chopped roving.
• In 2023, single-end roving was the largest category in terms of volume.
• The market for single end roving is expanding because of its uses in filament winding and pultrusion.
• Single-end Glass Fiber Roving has a good prospect of development in the future during the forecast period due to the rising usage of the product.

By End-use Industry

“Transportation is expected to remain the dominant and fastest-growing end-use industry during the forecast period”.

• Glass Fiber Roving is classified according to its application in wind energy, transportation, pipes & tanks, marine, construction & infrastructure, electrical & electronics, aerospace & defense, and others.
• In 2023, the transportation segment accounted for the largest share in terms of value and volume.
• The demand for Glass Fiber Roving in the transportation industry is highly significant due to the lightweight of the commodity.
• Glass Fiber Roving in transportation has fuel efficiency benefits, which drive the market.

Regional Analysis

“Asia-Pacific is expected to remain the largest market for Glass Fiber Roving during the forecast period”.

• Asia-Pacific is the largest consumer of Glass Fiber Roving across the globe.
• The region is dominant for major markets driven by wind energy, construction & infrastructure, pipes & tanks, electrical & electronics, China, Japan, and India.
• The Asia-Pacific Glass Fiber Roving market is expected to exhibit the highest growth rate throughout the forecast period.
• The desire for energy-efficient goods and rigorous emission regulation guidelines are some factors that have led APAC to lead the market.

Key Players

The market has presence of over 20 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Glass Fiber Roving market:

Here is the list of the Top Players (Based on Dominance)

• Owens Corning (US)
• Jushi Group Co., Ltd. (China)
• Chongqing Polycomp International Corporation (China)
• Johns Manville Corporation (US)
• Taishan Fiberglass (China)

Note: The above list does not necessarily include all the top players of the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. 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, Service 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 the existing and new players.
• Key success factors.

The global Glass Fiber Roving market is segmented into the following categories. 

Glass Fiber Roving Market, by Fiber Glass Type

• E-glass (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• ECR-glass (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• H-glass (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• AR-glass (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• S-glass (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Glass Fiber Roving Market, by Product

• Single-end (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Multi-end (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Chopped (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Glass Fiber Roving Market, by End Use Industry

• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pipe & Tank (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wind (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Glass Fiber Roving Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Glass Fiber Roving market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner 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.

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: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]