The Global Market for Textile Glass Fibers is Projected to Reach 5 Million Tons by 2020

End-Use Market Dynamics to Set the Tone for Future Growth in the Global Textile Glass Fibers Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Textile Glass Fibers. The global market for Textile Glass Fibers is projected to reach 5 million tons by 2020, driven by favorable trends in major end-use markets such as construction, automotive, and industrial equipment.

Textile glass fibers, which are developed from yarns of glass fiber strands and steel wires, are used for reinforcement of plastics and composites as well as in non-reinforced applications. Demand for textile glass fibers worldwide is significantly influenced by the trends in major end-use markets such as construction, automotive, industrial/commercial equipment, marine, consumer goods, and paper & fabrics, among others. Over the years, the use of textile grade glass fibers has gained momentum, driven by the rapid strides made in the glass fiber reinforced plastics space. Increased demand for reinforced composites from end-use markets such as construction, industrial and transportation is driving growth in the textile glass fibers market. Glass fiber’s lightweight, corrosion resistant, and high strength attributes are factors driving its adoption in various end-use markets.

In the coming years, growth in the textile glass fibers market will come from increased demand for non-corrosive, durable and lightweight components and the relatively lower cost of textile glass fibers when compared to substitutes. Rapidly expanding population, urbanization trend, implementation of new infrastructure projects, and focus on sustainability, are expected to bolster demand for glass fiber reinforcement composites, particularly in emerging markets. Another factor facilitating this growth is the rising popularity of textile glass fibers amongst equipment manufacturers, due to their performance when compared to conventional materials such as steel, aluminum and iron. Especially, wind energy, marine and aerospace industries are expected to witness strong growth in the coming years.

As stated by the new market research report on Textile Glass Fibers, the United States represents the largest market worldwide, with growth largely driven by the increasing use of textile glass fibers in reinforced plastics. Demand for textile glass fibers is expected to grow, led by the developments in the marine industry. The global market for textile glass fibers will be especially driven by developing countries in Asia-Pacific. Asia-Pacific is poised to grow at the fastest compounded annual rate of 8.4% over the review period. Strong demand for reinforced material from industries such as automobile, construction, chemical, printed circuit board and shipbuilding in countries such as China and India is helping contribute to this growth.

Major players covered in the report include 3B-the fibreglass company, AGY Holding Corp., China Fiberglass Co. Ltd., Chongqing Polycom International Corporation Ltd., Johns Manville Corporation, Nippon Electric Glass Co. Ltd., Owens Corning Inc., PPG Industries Inc., Saint-Gobain Vetrotex Deutschland GmbH, and Taishan Fiberglass Inc., among others.

The research report titled “Textile Glass Fibers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in Tons for all major geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East, and Latin America. End-use segments analyzed include Construction, Automotive, Industrial/Commercial Equipment, Marine, Consumer Goods, Paper & Fabrics, and Others.