Fiberglass Roving Market Global Industry- By Product Type ( Single-end Roving, Multi-end Roving, Chopped Roving), Glass Fiber Type ( ECR-glass, E-glass, H-glass, AR-glass, S-glass, Others), End-use Industry ( Pipes & Tanks, Transportation, Construction & Infrastructure, Electrical & Electronics, Marine, Aerospace & Defense, Wind Energy, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Fiberglass roving market is expected to rise by registering a steady CAGR of 6.05% reaching in the forecast period of 2020-2029. The growth of the market can be attributed to the factor of usage in end use industries like wind energy, automotive & transportation with electrical & electronics.
Fiberglass is lightweight and strong in nature; therefore, it is used to develop a variety of products. Yarns and roving fiberglass are widely used fiberglass available on the market. Fiberglass is used to form the essential material needed to build a fiberglass seat for Kart racing and a racing car body.
Fiberglass is a type of fiber-reinforced plastic, where the reinforcement fiber is made of glass fiber in particular. They are created by pouring molten glass into superfine gaps. They can be woven into a fabric or compressed into a sheet and arranged at random. Synthetic matrix may be synthetic thermosets such as vinyl ester, epoxy and polyester resins. They are used in major applications such as pipes, composites, storage tanks, insulation, filament winding and house building.
Fiberglass Roving Market Scope and Market Size
Fiberglass Roving Market has been segmented on the basis of product type, glass fiber type and end-use industry.
- On the basis of product type, the fiberglass roving market is sub segmented into single-end roving, multi-end roving and chopped roving. The single-end roving product type dominates the fiberglass roving market due to growing demand of filament winding and pultrusion applications.
- Based upon glass fiber type, the fiberglass roving market is sub segmented into ECR-glass, E-glass, H-glass, AR-glass, S-glass and others. The others sub segment is further classified into C-glass, D-glass and A-glass. The E-glass subsegment is dominating the market due to its superior properties as lightness of weight, cost effectiveness, electrical insulation, corrosion resistance, and moderate strength.
- The end-use industry segment in the fiberglass roving market is sub segmented into wind energy, electrical & electronics, transportation, pipes & tanks, construction & infrastructure, marine, aerospace & defense and others. The transportation sub segment is further classified into automotive and rail. The transportation sub segment holds the largest market share because of its property of increased fuel efficiency with its lightweight.
Country Level Analysis of Fiberglass Roving Market
- On the basis of region, the fiberglass roving market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
- Asia-Pacific region is expected to hold the largest market share along with highest growth rate in the forecast period 2020 to 2029 because of China, Japan and India being the growing construction & infrastructure, wind energy, pipes & tanks, and electrical & electronics industries..
- The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
- Increasing the use of GFRP composites produced from fiberglass roving in the transport industry will boost the market growth.
- Increased use of fiberglass roving in the construction & infrastructure industry is also going to drive the market.
- Increase in deployment of wind energy is also going to boost the market growth.
- Issues related to recycling is also acting as a hinderance towards the growth of the market.
Key Developments in the Market:
- In November, 2019 Jushi India Fiberglass (P) Ltd. which is a subsidiary of China’s Jushi Group is going to start its fiberglass production in India. Jushi India Fiberglass aims to start production at its plant in Maharashtra with a capacity of 1,00,000 MT. It provides products which are utilised by automobile industry, railways, manufacturing of chemical equipment and sports equipment, construction work, electrical products, etc.
Competitive Analysis and Fiberglass Roving Market Share Analysis:
Fiberglass roving market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fiberglass roving market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Fiberglass roving market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Fiberglass roving market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in fiberglass roving market are Owens Corning, JEC Group, Chongqing Polycomp International Corp. (CPIC), Johns Manville, Saint-Gobain, Nippon Electric Glass Co.,Ltd., CTG Group, AGY, China Beihai Fiberglass Co. Ltd., Braj Binani Group, BGF Industries, Inc., Nitto Boseki Co., Ltd., PFG FIBER GLASS CORPORATION, Celanese Corporation, SAERTEX GmbH & Co.KG, Reliance Industries Limited, and many others.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved