The fiberglass roving market is projected to register a CAGR of 6.0%, in terms of value, between 2018 and 2023
LONDON, Sept. 19, 2018 /PRNewswire/ -- The fiberglass roving market is projected to register a CAGR of 6.0%, in terms of value, between 2018 and 2023.
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The fiberglass roving market size is estimated at USD 8.24 billion in 2018 and is projected to reach USD 11.02 billion by 2023, at a CAGR of 6.0% between 2018 and 2023. Fiberglass roving is widely used in end-use industries such as wind energy, transportation, and electrical & electronics. In the wind energy industry, fiberglass roving is used in wind turbine blades and nacelles. The increasing number of wind energy capacity installations is driving the demand for fiberglass roving, as it is economical and provide high performance. The governments and energy planners in various countries are diversifying their energy mix, protecting their economies from volatile fossil fuel prices, and fighting against harmful greenhouse gas (GHG) emissions. Apart from this, the significant demand from the emerging economies is one of the major opportunities for the fiberglass roving market.
The market in the wind energy segment is projected to register the highest CAGR, in terms of value and volume, between 2018 and 2023.
The growth of the market in the wind end-use industry can largely be attributed to innovations in the integration of lightweight fiberglass roving products, which have facilitated increasingly larger blade lengths in the wind energy industry. Fiberglass roving is the ideal choice of material for wind turbine blades, in terms of structural efficiency, as the high specific stiffness limits tip deflections.
The fiberglass roving market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2018 and 2023.
The fiberglass roving market in APAC is projected to register the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increasing demand for fiberglass roving from the region's growing automotive & transportation and wind energy industries that extensively use fiberglass roving.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted as follows:
• By Company Type: Tier 1 - 35%, Tier 2 - 25%, and Tier 3 - 40%
• By Designation: C level - 30%, Director level - 25%, and Others - 45%
• By Region: North America - 30%, Europe - 20%, APAC -25%, Middle East & Africa - 12%, and Latin America - 13%
This report provides a comprehensive analysis of the key companies listed below:
• Owens Corning (US)
• Jushi Group Co., Ltd. (China)
• Chongqing Polycomp International Corporation (China)
• Johns Manville (US)
• Saint-Gobain Veterotex(France)
• Nippon Electric Glass (Japan)
• Taishan Fiberglass, Inc. (China)
• AGY Holdings Corp. (US)
• China Beihai Fiberglass Co., Ltd (China)
Research Coverage
This report covers the fiberglass roving market and forecasts the size of the market until 2023.The report includes the segmentation of the market based on end-use industry, product type, glass fiber type, and region.
Porter's Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the fiberglass roving market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Benefits of Buying the Report:
The report is expected to help market leaders/new entrants in the fiberglass roving market in the following ways:
• This report segments the fiberglass roving market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
• The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the fiberglass roving market.
This report is also expected to help stakeholders understand their competitors and gain insights to augment their position in the fiberglass roving market. The competitive landscape section includes the ecosystem of competitors and detailed information on new product developments, expansions, partnerships, and acquisitions.
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