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Fiberglass Fabric Market To Grow Enormously with Size Worth $14.93 Billion By 2025 |Grand View Research, Inc.

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Fiberglass Fabric Market To Grow Enormously with Size Worth $14.93 Billion By 2025 |Grand View Research, Inc.

March 10
04:06 2020
Fiberglass Fabric Market To Grow Enormously with Size Worth $14.93 Billion By 2025 |Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global fiberglass fabric market size was estimated at USD 9.27 billion in 2017. It is expected to register a CAGR of 6.1% over the forecast period. Surging demand for the product in construction of lightweight, long, and efficient rotor blades, with high corrosion resistance, and electrical and thermal insulation properties, for wind energy production is likely to be a key trend stoking market growth.

The global fiberglass fabric market size is expected to reach USD 14.93 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.1% during the forecast period. Rising penetration of the product in the electronics industry for manufacturing of printed circuit boards (PCB) is expected to drive the market.

Fiberglass wind turbine blades are constructed using stranded E-glass and S-glass fabrics stitched together and impregnated with vinyl ester, polyester, or epoxy matrix. These composites offer high strength for manufacturing lightweight and efficient rotor blades for large wind turbines maintaining cost efficiency.

The product offer superior properties such as high electric insulation, tensile strength, and corrosion and chemical resistance. Increasing R&D to improve product performance, wrapping, weaving, cleaning, and finishing to offer different weave patterns suitable for industry-specific applications are poised to work in favor of the market.

Fiberglass fabrics possess superior properties such as perfect electrical resistance and electric insulation, which enables its use as a prime reinforcement material in high-pressure laminates for printed circuit boards (PCBs). These PCBs are majorly used in computers, modems, consumer electronics, automotive, and telecommunication products, thereby stirring up the demand for fiberglass fabrics in application industries.

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https://www.grandviewresearch.com/industry-analysis/fiberglass-fabric-market/request/rs4

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Glass fiber, a primary raw material is sourced from a limited number of suppliers or a sole supplier to maintain consistency in quality of fabrics. Growing demand for lightweight fiberglass with higher strength is leading manufacturers to constantly innovate, maintain standards for their products, and integrate across the supply chain to retain their customers.

Soaring demand for wide varieties of woven fibers including plain, twill, satin, basket, and leno, as per requirements of application industries in terms of flexibility and strength is poised to drive the market. Furthermore, modernization of technologies to meet technical requirements of industry-specific fiberglass fabric grades has also been boosting market growth.

Further key findings from the report suggest:

  • The E-glass segment accounted for over 80.0% of the revenue share in 2017 on account of superior physical and mechanical properties such as high strength and stiffness and high temperature, flame and heat resistance
  • The nonwoven fiberglass fabrics segment is anticipated to register a CAGR of 6.3% in terms of revenue from 2017 to 2025 owing to its advantages over woven such as increased impact resistance, thermal insulation, and liquid repelling ability
  • The application of fiberglass fabric in the construction industry accounted for 25.8% of the revenue share in 2017 on account of its increasing demand in the construction industry to mask cracks and improve integrity of walls and ceiling
  • Fiberglass fabric in wind energy application is anticipated to register a CAGR of 7.3% in terms of revenue during the forecast period owing to its electrical insulation and lightweight characteristics, which aids in improving efficiency of wind turbines and their energy output
  • The industry in Central & South America is expected to register a growth of 7.3% owing to rising demand for the product in application industries including automotive, aerospace & defense, and electrical & electronics
  • Major players in the industry focus on research & development activities to identify new market opportunities and product development on the basis of requirements from the application industries

Rotor blades of length up to 80 meters for installation in different environments including offshore windmill stations are manufactured using the product. Furthermore, increasing government initiatives globally to promote renewable energy and wind energy power project are anticipated to fuel the demand for fiberglass fabric in the wind energy industry. The product is highly capital-intensive with high cost of the furnace and other machinery. Furthermore, manufacturing methods such as Vacuum Assisted Transfer Molding (VARTM) and autoclaving are both time consuming and labor intensive. Handling of raw material and final product also require skilled labor, thereby increasing the cost of production.

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Glass fibers can be classified into premium special purpose fibers and low-cost general-purpose fibers. General purpose fibers include wide range of boron-free E-glass fibers and boron containing E-glass, whereas ECR-glass, A-glass, S-glass, hollow fibers, and silica fibers are some common types of special purpose fibers.

On the basis of product, the market has been bifurcated into E-glass and S-glass. E-glass fibers offer high strength and corrosion and chemical and heat resistance in economical prices in comparison with special purpose glass fabrics. However, special purpose fibers play a vital role in the market owing to excellent strength of R, S and T glass, a low dielectric constant of D-glass, and various other physical and mechanical properties.

Access complete  Fiberglass Fabric Report Portfolio By Grand View research, Inc.

S-glass is projected to exhibit a CAGR of 6.4% in terms of revenue over the forecast period on account of its improved properties at elevated temperature as compared to E-glass fabrics. S-glass offers around 40.0% higher tensile and comprehensive strength, flexural modulus, and higher abrasion resistance as compared to E-glass, thereby escalating the demand for the product type in application industries. Glass fibers such as C-glass, A-glass, D-glass and M-glass are also used in manufacturing of fiberglass fabrics, apart from S-glass and E-glass. These fibers are used in very specific applications where characteristics such as high chemical durability, high alkali resistance, low dielectric constant or high modulus is required.

Fiberglass fabric is available in the form of woven and nonwoven formats with different finishes and coatings offering high strength, chemical and fire resistance, and durability. The fabric can be woven in various patterns including plain, basket, leno, satin, unidirectional, and twill weave; however, plain weaving is commonly used as it is simple and offers high strength to the woven fabric.

Grand View Research has segmented the global fiberglass fabric market on the basis of product, fabric type, application:

Fiberglass Fabric Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • E-Glass
  • S-Glass
  • Others

Fiberglass Fabric Fabric Type Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Woven
  • Nonwoven

Fiberglass Fabric Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Aerospace & Defense
  • Construction
  • Electrical & Electronics
  • Marine
  • Transportation
  • Wind Energy
  • Others

The construction segment represented over one fourth of the total revenue in 2017 owing to spiraling demand for materials in structural reinforcements in construction and architectural projects. Increasing penetration of the product in the construction industry owing to its properties to withstand longitudinal and transverse load and chemical and corrosion resistance is further estimated to contribute to the growth of the segment.

The product has several dielectric applications and is used extensively in multilayer printed circuitry, offering a high degree of dimensional stability. Rising demand for PCBs across the globe with expansion of the electronics industry along with high growth in the consumer electronics industry is expected to facilitate the growth of the overall market.

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The market is highly fragmented and contains a significantly large number of manufacturers and service providers. Innovation, product development, and establishing strong distribution network of the product is a major factor in creating a competitive environment among players operating in the market.

Growing demand for high quality fabrics with superior strength and lightweight characteristics impel manufacturers to innovate and maintain product quality standards. Major manufacturers have a long-term supply contract with distributors to ensure raw material availability as well as maintain consistency in product offerings.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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