Global Automotive Glass Fiber Composites Market - Growth Trends and Forecasts (2015-2020)

Nov 16, 2015, 12:33 ET from ReportBuyer

LONDON, Nov. 16, 2015 /PRNewswire/ -- Demand of lightweight, durable materials for automotive components is the major driver, propelling the growth of global automotive fiberglass market. Due to the growing impact of liberalization, the markets are becoming increasingly globalized where strategic partnerships of the international players with the regional players has helped the global players to grow and expand. The fiberglass manufacturing companies are leveraging the distribution networks of their companies by entering into strategic supply and distribution agreements with the regional and national players. However with the dominance of local players in catering local demand, excess capacity of the international players pose a major threat for the growth of the market. In addition, increase in cost of insulation and raw materials are also a growing concern in the automotive fiberglass market. Nevertheless, stringent emission and fuel efficiency norms, strategic merger and acquisitions, technological advancement in the materials and manufacturing process along with the booming global automobile light vehicle segment are expected to create a major opportunity for investment in the sector.

US is the largest market in the production of automotive fiberglass. Asia-Pacific region is expected to gain supremacy in the manufacture of fiberglass, with China as one of the leading country in the production of fiberglass for automotive applications. Braj Binani Group, Saint Gobain Vetrotex, VFN fiberglass are some of the leading automotive fiberglass manufacturers

Fiberglass is the most preferred and economic composite material in the industrial and automotive sector as well. The reinforcement fiber materials employed in the automotive industry are generally made of glass fibers. Fiberglass is lightweight, with relatively high tensile strength, and is easy to handle & manufacture. Fiberglass is widely used in the automotive industry due to its lightweight and high durability. Fibreglass finds its extensive usage in the structural reinforced components of conventional sports and racing cars. The fiberglass used in the automotive industry is quite different in nature than those from insulation fiberglass.

The most common type of glass fiber used is the alumino-borosilicate glass, which is used as glass-reinforced plastics for applications in automotive interiors and exterior. The raw materials used in production of fiberglass are silica sand, limestone, and soda ash.
Fiberglass mat makes up the bulk of any fiberglass-bodied car, where several layers of fiberglass mat are built up one on top of another to attain the desired thickness and strength for the desired automotive application. Automotive fibreglass has an extensive application in the exterior of the vehicle body, especially in doors, bonnets, hoods etc..
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