Lucintel Forecasts the Global Glass Fiber Roving Market to Reach $5 Billion by 2030
Lucintel Forecasts the Global Glass Fiber Roving Market to Reach $5 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global glass fiber roving market looks promising with opportunities in the construction, pipes and tanks, transportation, electrical & electronics, wind energy, marine, consumer goods and others end use industry. The global glass fiber roving market is expected to reach an estimated $5 billion by 2030 from $4 billion in 2023 at a CAGR of 4% from 2023 to 2030. The major drivers for this market are increasing demand for lightweight materials in the transportation industry, corrosion and chemical resistance materials demand in construction and pipe & tank industry, electrical resistivity and high flame retardant materials demand in electrical and electronics industry.
Browse 89 figures/charts and 76 tables in this 181-page report to understand trends, opportunity and forecast in glass fiber roving market to 2030 by end use industry (construction, pipes and tanks, transportation, electrical & electronics, wind energy, marine, consumer goods and others), fiber type (E-glass and others), product (single end roving, multi end roving and woven roving), processing resin type (thermoset and thermoplastic), composites manufacturing process (filament winding, hand lay up, spray up, pultrusion, injection molding, compression molding, and others), region (North America, Europe, Asia Pacific, and Rest of the World).
Lucintel forecasts that E-glass segment will remain the largest and the fastest growing segment by value and volume due to usage in a wide range of applications designed to face corrosive environments and better performance over traditional glass fiber.
Construction is projected to remain the largest end use industry due to its corrosive resistivity and durability. Transportation is expected to witness the highest growth due to government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight are driving the demand for the global glass fiber roving market.
Asia Pacific is expected to remain the largest region because of growth in construction, transportation, and the pipes and tanks segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.
Owens Corning, Jushi Group, Taishan Fiberglass Inc, CPIC, Nippon Electric Glass are the major suppliers in the glass fiber roving market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056