The global glass fibers market is projected to clock CAGR of 7.8% between 2019 and 2027. The versatility of glass fiber has spurred the demand in various end-use industries. The market stood at US$ 11.35 bn in 2018, and researchers estimate the market to reach US$ 22.32 bn by 2027-end.
Building and construction industry to provide robust undercurrent to expansion of the glass fibers market. The valuation of the segment will clock 7.9% CAGR during 2019 – 2027.Meanwhile, building and construction to rise at 7.9% CAGR during 2019 – 2027; rapid uptake in burgeoning residential and commercial constructions drive demand
Of all the regions, Asia Pacific held the top share in glass fibers market; the regional market held 48% market share in 2018
Expansion of the global glass fibers market pivots on the plethora of glass fiber products and the demand for their reinforcement materials in numerous applications, such as in automotive, building and construction, and renewable energy. This has spurred the demand for glass fibers in making wind turbines.
The use of E-glass is proliferating due to its remarkable fiber forming capabilities.Extensive research in reinforcement techniques has spurred the prospects of the glass fibers market.
Post time: Apr-15-2021